Forex for a trader
Forex friday profit taking

Forex friday profit takingFOREX-Dollar fades on profit-taking after Friday's jobs report. (Updates throughout, adds quote) * Euro regains earlier losses vs dollar. * Yen up vs dollar. * ECB rate-cut report “caught the market off-guard” By Dion Rabouin. NEW YORK, Nov 9 (Reuters) - The dollar fell against major world currencies on Monday as investors took profits on the greenback’s surge last week backed by a surprisingly strong jobs report. The euro and yen reversed earlier declines against the dollar and gained modestly, with the dollar also losing ground to the British pound and Swiss franc, falling as much as 0.5 percent against both. The dollar’s early gain against the euro came after Reuters reported that the European Central Bank is forming a consensus to cut its deposit interest rate further into negative territory in December. That news “caught the market off-guard” said Ian Gordon, FX strategist at Bank of America Merrill Lynch, but the effect has since faded because of many variables when it comes to the ECB’s plans. “We’ve had similar situations in the past where there have been reports that a few of the governing council members were favoring one thing or another and the market moved on it and subsequently it was proven that that didn’t represent the entire committee,” he said. “So I think people are taking a more circumspect view on it.” The euro was up 0.2 percent against the dollar to $1.0762. The yen had traded down against the dollar until midmorning in New York, but has since moved up 0.1 percent, pushing the dollar to fresh session lows below 123 yen per dollar. The dollar soared in trading Friday after the release of the government’s U. S. non-farm payroll report showed a rise of 271,000 last month, far exceeding the 180,000 new jobs for October economists polled by Reuters had predicted. Following the report, 15 of 17 primary dealers, the banks that deal with the Federal Reserve directly, said they expect it to raise rates at its next meeting in December, according to a Reuters poll.

The dollar index, which tracks the greenback against a basket of major currencies, fell back after earlier approaching a 6-12-month high. The index was last down 0.2 percent at 98.978 (Additional reporting by Jemima Kelly in London; Editing by Frances Kerry and Andrew Hay) A Guide On ‘Taking Profits’ From Your Forex Trades. If you’ve been around the markets for a while you probably have figured out that it’s one thing to get into a profitable trade and it’s another thing all together to actually take a profit from it . Traders often screw up the process of profit-taking due to emotion, not having a profit-taking plan, or simply not knowing how to read the changing price dynamics of the market. In today’s lesson, I am going to give you some examples of recent price action trade setups that provided the potential for a nice profit, and then I’ll explain to you how you could have secured that profit. I will also discuss some of the common mistakes that traders make in trying to take profit out of the market. Hopefully, after finishing today’s lesson you will have a better understanding of how to secure open profit when trading the markets and how to avoid some of the most common profit-taking mistakes. Taking profits on emotion vs. taking profits on logic. A fact of Forex trading is that most traders take their profits as a result of an emotional impulse instead of exiting the market at a pre-determined target or from a pre-planned exit strategy. As a result, traders who exit a trade on emotion typically take much smaller profits than they would like, while traders who exit a trade based on logic and discipline typically are very happy with the profits they take.

There is also an element of being realistic here that I need to touch on before going into the examples below. You see, struggling traders who exit emotionally tend to think they are going to somehow squeeze every last pip out of a move and this causes them to have difficulty closing a trade that has moved into a nice profit. Successful Forex traders who know and accept the fact that they cannot take every pip out of a move, are more than happy to settle for taking ‘chunks’ out of moves and exiting their trades when they are significantly in their favor, instead of panicking and exiting at the last minute as the trade comes crashing back to their entry. Look at the British pound vs. U. S. dollar chart below, I have provided an example of exiting based on emotion because you waited too long due to thinking the trade would go just a ‘little bit further’, vs. exiting based on logic because you don’t care if the trade keeps going since you know and accept that you are extremely unlikely to pick the exact top and bottom of every move: From the chart example above we can take away a very important point and build it into our Forex trading plan: When we get up 1:2 times our risk in a trade it’s time to either lock in that profit, take it off the table, or at the very least analyze the market structure and ask yourself if you honestly believe the market will continue in your direction before making a significant correction against your position. Remember: markets do not move in straight lines, instead they ebb and flow, as short-term swing traders our aim is to take chunks out of major market moves, not pick the exact top and bottom, so don’t get caught in a cycle of constantly giving up solid 1:2 risk reward gains or more only because you are stuck in a perpetual state of greed and hope. Let the market take you out. How many times have you manually exited a trade only because it moved against you a little bit and then it rockets on in your favor? Or how many times have you manually exited a trade around breakeven only because you were afraid it would turn into a loss, only to see it turn around and take off in your favor while you were on the sidelines? Traders often exit the market because they ‘think’ they know what is going to happen. You need to understand that you never know for sure what will happen next, you have to trust your trading edge and then let the market play itself out. Forex trading is a game of risk and reward, and since there is risk involved with every trade you take, you need to accept that risk and look at it as the price of being a trader, and embrace it. The more you fight against the inherent risk of being a trader and try to close your trades out early, before they hit your pre-planned stop, or perhaps not even use a stop loss because you are ‘sure’ the market will turn back in your favor, the greater the chance of you losing a lot or all of your trading money. If we have a high-probability trading edge like price action Forex strategies, we need to let our edge play out over a large series of trades to see it work for us properly. When you manually close a trade just because it moves against you a little bit, you voluntarily interfere with your trading edge. You see, you don’t know if that trade is going to turn around in your favor and hit a 1:3 risk reward winner, or continue moving against you and hit your stop loss. So, you need to give yourself a chance on every trade you take by letting the market play itself out. The best course of action is almost always to set and forget your trades and either take the loss from the risk that you accepted prior to taking the trade, or take a nice profit if the trade moves in your favor. Of course, this largely depends on your ability to find and enter high-probability Forex trades, because if you over-trade and enter the market on whims, you aren’t going to last very long in the markets, no matter what your exit strategy is. How to take profit in a trending market. A strong trending market provides us with the best opportunity to hit some big winners by letting our trades run via trailing our stops.

There is no perfect way to trail your stop loss, and I do get a lot of emails asking me how to trail stops. There is no way ‘perfect’ way to trail your stop loss, eventually your stop loss will get hit no matter how you decide to trail it, the point of trailing your stop is to give the market room to breathe while at the same time locking in profit as the market moves in your favor. Here is one example of trailing your stop loss by using the 8 and 21 daily EMA support layer in the current uptrend of the AUDUSD. How to take profit in a range-bound market. Taking profit in a range-bound market is pretty straight forward. Typically, you can watch for price action setups at one boundary of the trading range and then take profit near the other boundary of the range. See this example chart for more: How to know when to take a 1:2 or 1:3 risk reward profit vs. trailing your stop. I get a lot of emails about how to know when to take a 1:2 or 1:3 risk reward vs. when to trail your stop. The simple answer is that there is no way to ‘know for sure’, because we can’t ever know anything ‘for sure’ in the markets. But, generally speaking, in strong trending markets we obviously have a better chance of getting a big winner through letting our trade run by trailing our stop. So, knowing when to take the 1:2 or 1:3 profit off the table vs. trailing your stop, really comes down to your ability to accurately read the market conditions.

Also, there is nothing wrong with moving your stop up to lock in a 1:2 or 1:3 risk reward and then trailing your stop up each time the trade moves 1 or 2 times risk in your favor; this way you take the profit and also give yourself a chance at a bigger gain. How becoming a master price action trader will help you take more profit from your trades. Becoming a master price action trader by learning to trade like a sniper and not a machine gunner, will allow you to identify high-probability price action entries as well as build your market analysis skills. Knowing how to effectively analyze the price action and current market structure prior to entering a trade is paramount to figuring out the best and most logical way to exit the trade. While there are no guarantees in trading, one thing that can be said with certainty is that learning how to correctly read and trade off the raw price dynamics in the market will significantly improve your ability to both enter and exit the market effectively. If you want to learn more about learning to read and trade with price action analysis, check out my Price Action Forex trading course. The Secret of Taking Profit and Why it is Important. This Forex educational article will be dedicated to reviewing all the aspects regarding Take Profit, so I am sure that you are going to enjoy this Forex training guide. For those of you who missed the earlier publications, please read the article on “stop losses” and “money management” by clicking on the article names. First of all, do you have problems with taking profit? And if so, why? Importance of profit. It goes without saying that the take profit strategy is just as important as a trader’s stop-loss placement.

Both aspects are integral parts of the reward to risk (r:r) ratios. This ratio analyzes and determines the balance between the potential profit and the potential loss of the trade. The r:r ratio is a vital and crucial factor whether a trader is profitable or not. The other item is that win versus loss percentage. The formula is: (r:r multiplied by win %) – (1 x loss %) = expected result (number should be positive if profitable). For example, with a 2.0 r:r, 30% win, 50% loss, and 20% break even score, the trader expects: (2.0 (r:r) x 30%) – (1 x 50%) = +0.1 units of profit. This formula establishes the true measurement of trading success. The take profit (TP), logically speaking, has great influence and clear impact on the reward side of the r:r ratio. Taking profit is a key element of trading success because it is the only moment when a trader actually realizes a profit. Any floating or paper profit from an open trade means nothing until the trade is closed and booked. Only then did we make realize reward and make a profit on that trade! If the win % and r:r are in good relationship with each other, then the trader can expect the benefits of profit. Trading psychology and take profits (tp) Similar to stop losses, many traders have difficulties with taking profits because of their trading psychology.

Again the elements of Fear , Greed , and Impatience strongly influence the game of trading and severely affect trading decisions. All these emotions have the nasty habit of letting the trader either book profit too soon before the target is reached or not book any or too little profit. And not booking the optimal profit, of course, creates a (too) low r:r, thereby harming longterm profitability . These are the typical and usual consequences of the emotions which can occur during trading: 1) If traders are too fearful a the trade could be closed too soon; 2) If traders are too impatient a the trade could be closed too soon; 3) If traders are too fearful a the trade could be left open too long. There are ways and methods how Forex traders improve trading psychology. The tricks and tools which can be used are: 1) Ironclad trading plan Have a well-built trading plan with a great take profit scheme is important. It not only enhances and maximizes profits, but it also eases the trading psychology. Having take profits which make sense and are accurate is vital in maintaining confidence in the trade and having the ability to stay in the trade to the target. And staying into the target is what gives the big reward and maximizes the r:r. 2) Use take profit levels Don’t mess around and watch the charts 24 hours, 5 days a week. Use take profits in your trading plan and you will be pleasantly surprised when you wake up and your trade has hit your take profit. 3) Accommodate for spread and NOT aiming for the last pip One way of easing the trading psychology with your take profit plan is accommodating the spread and not aiming for your exact target. How many times has it happened to all FX traders: we aim for a target, the currency pair misses the target by 2 pips and we eventually close the trade for 30 pips less because we want at least some profit, and considering the fact that we almost hit our take profit, and we should have had more. Or: Oh no, the currency hit my take profit but the spread was too big. All Forex traders have gone through this thinking process.

Don’t let it happen to you. Accommodate the spread in your take profit and don’t aim for our exact target: place your actual take profit a few pips below (for upside target) and few pips under (for downside target) your original profit place. All of us have a plan or an idea where we want to take profit. So instead of aiming for the max, go xx pips below. Of course, it will depend on the time frame you use. If you are trading on the 5 min chart, accommodate the spread and give an extra pip or two. If you are using the 4-hour chart, accommodate the spread and gives an extra 10-15 pips. There is one catch: make sure that your r:r and profitable expectancy are still in the plus. 4) Use trailing stops + multiple take profits Here too the trader must check how using trailing stops and multiple take profits influences the expected profitability of the Forex trader. This is vital. Both tools are great, but may not be suitable for your strategy, nor for your profitability. A trader must check and backtest the mechanics of these tools. Once completed, these tools can offer great advantages in the realm of trading psychology. A trailing stop helps sooth the trading psychology because it gives us Forex traders the ease of moving the trade to break even and later on even locking profit. By doing that, Forex traders create more strength and power in staying into a higher target. Having a lot of profit but still not reaching a take profit can be very stressful. All kind of doom scenarios pop up in the mind.

What if the currency turns on me? What if the markets eat all my profit and this turns into a loss? I moved my trade into break even, but what if the market hits my break even stop loss and then reverses? Then I might as well close out the trade now! Many things can speak through a mind. A trailing stop puts some of it to rest. Multiple take profit levels have the same effect. Hanging on the take profit is not easy. But If a Forex trader is locking in profits along the way, then staying in for the next target becomes a lot easier when some money has already pocketed and some profit has been booked. We also have training on how to profit from trading. Great take profit areas. Of course, the logical question in your mind must be: what is a great take profit area?

This Forex article is going to address that in the following free FX training guide. Your take profit should subscribe to certain characteristics: a) Your target is realistic. For example, aiming for 1.98 or 0.74 on the EURUSD is just not realistic in the year 2013. Make sure that your take profit area is within reach; b) Your target is preferably placed at bigger support and resistance levels and not below or above them. For example, when using a day chart do not put your take profit just above a huge weekly resistance area or just below a huge weekly support area. Rather move your take profit to accommodate that market structure and make sure that you still have the correct r:r; c) Use Fibonacci retracements and targets for your take profit planning, no matter which time frame. These Fib levels do a great job of optimizing reward and are truly well respected by the Forex marketplace; d) Preferably avoid aiming for a fixed amount of pips, unless you have backtested the results thoroughly; e) Use major levels in the market. By using these major levels you ensure that you get the best exit price possible; f) Try to find the confluence. A Forex trader has many tools and techniques at their disposal. Make sure to look for confluence when making a trading plan. That way you are placing you take profit at the best spot. Also read about the Trail Stop Loss in Forex. Timeframe and take profits (tp) It is important to realize how multiple time frame analysis can harm profit taking planning and capabilities.

For those Forex traders who use 1-time frame for their analysis, entries, and exits, you are able to skip this section without worry. Forex traders who use more time frames, this is a crucial warning and heads-up. 1) If you enter a trade on a certain time frame, make sure to plan your take profit on at least the same if not 1 higher time frame. This process helps ensure the trader that they keep focusing on the bigger picture. 2) Once a trader has entered the trade, stay on the same or 1 higher time frame to monitor the trade. That will take the nervousness out of the trading. 3) Most importantly, do not zoom into a lower time frame after you have entered the trade! That is the worst thing that could happen because the likelihood of a trader changing the trade plan halfway the setup is very high when a trader zooms in and starts seeing reversal signs on a lower time frame. Time factor and take profits (tp) Last but not least, please realize that it usually takes long before price actually reaches your take profit area. Typically this is not a fast process! Sometimes when Forex traders enter a trade, they have the feeling that their trade should hit their target quickly and panic if their trade does not materialize quickly. If you have a good stop loss placement, then that fear is not needed. Of course, there is always the exception. For example, if you are trading a big fundamental news announcement like an NFP, it could be a very important factor. Usually speaking though, it takes time before the currency reaches the take profit level.

And traders need to give a trade time and space before they can expect to book their profits. When backtesting your strategy and your currency, make sure to note down how long your trade setup actually took before it developed into a winner. It is easy to scroll through a chart and see the strategy hit your take profit level. One of the problems is that when practicing a strategy in such a way, the time factor of the trade development is overlooked: it only takes few minutes to click forward days or price data. But in real life, every candle IS an actual hour. And a person can do a ton of thinking in an hour, let alone during an entire day. A Forex trader needs to know that time factor is part of the process: patience is key. Will this FX educational article help you with taking profit? Please leave a note down below! Thank you for reading! Please leave a comment below if you have any questions about secret of taking profit !

Also, please give this secret a 5 star if you enjoyed it! FxPro Forex Analysis: Profit-taking after big sell-off helps markets on Tuesday. There is a demand for profit-taking in the markets after powerful movements at the end of last week and a very aggressive trading start of the week. On Monday afternoon there was a cautious demand for some risky assets, as investors considered recent sell-off as gone too far. However, investors should be cautions. The key problems that have caused pressure in the markets are still unresolved, which means that a new wave of flight from risks is likely to be in the near future. EURUSD is trading near the closing levels of Friday in the area of 1.1400 after the fall at the start of Monday down to 1.1360. The South African rand (ZAR) has almost completely recovered its losses after a sliding by 10% early in the day on Monday. The Turkish lira has stabilized near 6.9 per dollar after the country’s central bank had announced the measures to maintain liquidity. This morning the course remains near the yesterday’s levels and thus, allows hoping for some respite in updating the historical highs. The interventions of the Central Bank of India and Indonesia played its calming role for the Emerging Markets. It may also be expected that EM countries will increase their rates in order to protect against capital outflows, despite the risks of economic slowdown.

And yet it should be noted that the risks of further tension growth remain possible in the markets. The key problems remain unresolved: the diplomatic conflict between the United States and Turkey does not wane, with Erdogan’s statements on Friday only having added fuel to the fire. The trade dispute between the USA and China has not led anywhere yet, and the latest data has already indicated the slowdown of the 2nd world economy as a result of the earlier imposed sanctions. Markets can get a respite from the rally today or for a few days at best, but the worst is still ahead as we could see the sale-off on stock and bonds markets, which often happens with some lag after the speculative currency moves. On the commodity markets, there also were some big movements on Monday. OPEC’s forecast update caused oil collapse by more than 2% to $71.17 per barrel Brent, the lowest rate since April this year. The reason was the decreased expectations of the demand growth and the estimation, that the countries outside OPEC increase production faster than the demand grows. The issue of oil supply surplus is becoming relevant once again. This is bad news for OPEC, whose market share has declined in recent years from the usual 40% to 32%, and the stabilization of supply requires even bigger reduction. Just one month after the increase in quotes, it looks unlikely that the cartel would lower them once again. The gold fell below the $1200 per ounce against the backdrop of the weakening of currencies, which are ones of the main precious metal consumers (China, India, Turkey). Nevertheless, the prospects of further gold weakening look limited. For developing countries, the gold can be a good politically neutral means of saving the capital before the threat of the increasing inflation. FOREX-Dollar fades on profit-taking after Friday's jobs report. (Updates throughout, adds quote) * Euro regains earlier losses vs dollar.

* Yen up vs dollar. * ECB rate-cut report “caught the market off-guard” By Dion Rabouin. NEW YORK, Nov 9 (Reuters) - The dollar fell against major world currencies on Monday as investors took profits on the greenback’s surge last week backed by a surprisingly strong jobs report. The euro and yen reversed earlier declines against the dollar and gained modestly, with the dollar also losing ground to the British pound and Swiss franc, falling as much as 0.5 percent against both. The dollar’s early gain against the euro came after Reuters reported that the European Central Bank is forming a consensus to cut its deposit interest rate further into negative territory in December. That news “caught the market off-guard” said Ian Gordon, FX strategist at Bank of America Merrill Lynch, but the effect has since faded because of many variables when it comes to the ECB’s plans. “We’ve had similar situations in the past where there have been reports that a few of the governing council members were favoring one thing or another and the market moved on it and subsequently it was proven that that didn’t represent the entire committee,” he said. “So I think people are taking a more circumspect view on it.” The euro was up 0.2 percent against the dollar to $1.0762. The yen had traded down against the dollar until midmorning in New York, but has since moved up 0.1 percent, pushing the dollar to fresh session lows below 123 yen per dollar. The dollar soared in trading Friday after the release of the government’s U. S. non-farm payroll report showed a rise of 271,000 last month, far exceeding the 180,000 new jobs for October economists polled by Reuters had predicted. Following the report, 15 of 17 primary dealers, the banks that deal with the Federal Reserve directly, said they expect it to raise rates at its next meeting in December, according to a Reuters poll. The dollar index, which tracks the greenback against a basket of major currencies, fell back after earlier approaching a 6-12-month high. The index was last down 0.2 percent at 98.978 (Additional reporting by Jemima Kelly in London; Editing by Frances Kerry and Andrew Hay) Trading For A Living _______________ My Notebook. Thursday, December 2, 2010. Profit Taking Friday .

SGS is Long (as of close of 1212010 ). There is a good chance that we see profit taking tomorrow which might push SPX down to back test its 13D EMA around lower 1200. I think that would be a good place to start opening long positions. Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice. Gold futures slide lower on profit-taking. Investing. com | Oct 16, 2015 03:08AM ET. Investing. com - Gold prices slid lower in European morning hours on Friday, as investors locked-in profits from the metal's rise to four-month highs on Thursday and as the dollar regained some strength after the release of positive U. S. jobless claims and inflation data.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.88% at $1,177.50. The December contract ended Thursday's session 0.65% higher at $1,187.50 an ounce. Futures were likely to find support at $1,167.30, Wednesday's low and resistance at $1,188.30, Thursday's high. The dollar strengthened broadly after the U. S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits in the week ending October 10 decreased by 7,000 to 255,000 from the previous week’s total of 262,000. Analysts had expected jobless claims to rise by 8,000 to 270,000. Separately, the U. S. Commerce Department said that consumer prices fell 0.2% last month, matching forecasts. Year-over-year, consumer prices were flat in September. Core consumer prices , which exclude food and energy costs, increased by 0.2%, above expectations for a gain of 0.1%. The U. S. dollar index , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.49. Investors were awaiting reports on U. S. industrial production and consumer sentiment due later Friday, for further indications on the strength of the economy. Elsewhere in metals trading, silver futures for December delivery declined 0.89% to $16.020 a troy ounce, while copper futures for December delivery dropped 0.85% to $2.402 a pound. Written By: Investing. com. Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buysell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing in cryptocurrencies carries with it potential risks. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors.

Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), Forex and cryptocurrencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers. Gold boosted as profit-taking weighs on dollar. The U. S. dollar ended higher for the third consecutive month in June and made a positive start to the new month and quarter on Monday. However, today it has given up Monday’s gains and was, therefore, trading flat on the week at the time of writing. The fact that the greenback has weakened across the board, this points to profit-taking ahead of key events later on in the week. These include, among other things, UK services PMI on Wednesday; the last FOMC meeting minutes on Thursday and the June employment reports from both North American nations on Friday.

The weakness of the dollar has given the buck-denominated gold a boost. However, it remains to be seen whether the perceived safe haven commodity will be able to hold onto its gains given the overall ‘risk-on’ tone in the markets today, not to mention the metal’s strong bearish trend of late. In fact, today’s rebound just ahead of prior low at $1,2367 per oz. area looks suspicious. Although it has found support from the bullish trend line, which gives some validity to the rebound, we are of the view that the metal may drop to test liquidity beneath that $1,2367 swing low, before it potentially goes up. Indeed, a stronger support level is around the $1,225 level, for this had been the base of the breakout back in July of last year. -. . ( ). . . . ( .) . . ( — ). . (, , , , ). ( , .) . ( ). , . . . ( – ) * ( ) * . : USD : GBPCHF = GBP; = CHF = CHFUSD = 1,1025 = 2,1443 = 2,1452 = 1000. = (2,1452 – 2,1443) * (1,1025) * 1000 = 0,99225 USD. . . OANDA. . , , . © 1996–2017 OANDA Corporation. . OANDA, fxTrade fx OANDA Corporation. , , . . , . . , , . , . - . . « » . - OANDA Europe Ltd, . , 4 50:1 . , . OANDA Corporation — , ; , .

№ 0325821. . . OANDA (Canada) Corporation ULC . OANDA (Canada) Corporation ULC (IIROC), . cipf. ca. OANDA Europe Limited , 7110087, : Tower 42, Floor 9a, 25 Old Broad St, London EC2N 1HQ. , № 542574. OANDA Asia Pacific Pte Ltd (. № 200704926K) , , (IE Singapore). OANDA Australia Pty Ltd (ASIC) (. ABN 26 152 088 349, . AFSL 412981). () , . (FSG), ('PDS'), OANDA. . OANDA Japan Co., Ltd. — Kanto Local Financial Bureau (Kin-sho), . № 2137; , . № 1571. FOREX-Dollar fades on profit-taking after Friday's jobs report. (Updates throughout, adds quote) * Euro regains earlier losses vs dollar.

* Yen up vs dollar. * ECB rate-cut report "caught the market off-guard" By Dion Rabouin. NEW YORK, Nov 9 (Reuters) - The dollar fell against major world currencies on Monday as investors took profits on the greenback's surge last week backed by a surprisingly strong jobs report. The euro and yen reversed earlier declines against the dollar and gained modestly, with the dollar also losing ground to the British pound and Swiss franc, falling as much as 0.5 percent against both. The dollar's early gain against the euro came after Reuters reported that the European Central Bank is forming a consensus to cut its deposit interest rate further into negative territory in December. That news "caught the market off-guard" said Ian Gordon, FX strategist at Bank of America (N: BAC ) Merrill Lynch, but the effect has since faded because of many variables when it comes to the ECB's plans. "We've had similar situations in the past where there have been reports that a few of the governing council members were favoring one thing or another and the market moved on it and subsequently it was proven that that didn't represent the entire committee," he said. "So I think people are taking a more circumspect view on it." The euro was up 0.2 percent against the dollar to $1.0762. The yen had traded down against the dollar until midmorning in New York, but has since moved up 0.1 percent, pushing the dollar to fresh session lows below 123 yen per dollar. The dollar soared in trading Friday after the release of the government's U. S. non-farm payroll report showed a rise of 271,000 last month, far exceeding the 180,000 new jobs for October economists polled by Reuters had predicted. Following the report, 15 of 17 primary dealers, the banks that deal with the Federal Reserve directly, said they expect it to raise rates at its next meeting in December, according to a Reuters poll. The dollar index , which tracks the greenback against a basket of major currencies, fell back after earlier approaching a 6-12-month high.

The index was last down 0.2 percent at 98.978.



Articles:

  • Forex friday profit taking