Month: October 2013
It hit a nine-month low of 78.998 on Friday. The Fed is slated to release a statement on its policy decision on Wednesday at the end of its two-day meeting, at 2 p.m. (1800 GMT). “It may turn out that a neutral FOMC is a green light to keep selling the dollar until November headline data begin appearing in early December, but … there is already a lot of dovishness priced in,” Steven Englander, global head of foreign exchange strategy at CitiFX, a division of Citigroup in New York, said in a research note. Currency speculators decreased their bets in favor of the U.S.
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Michelin cuts 2013 goal as forex erodes sales
The Brazilian real and Argentine peso fell more sharply than anticipated, Michelin said in a statement on Monday, increasing the likely impact on profit to 250 million euros from the 150 million previously forecast. “Michelin should experience a more deeply negative currency effect than was expected at the beginning of the year,” the company said. Michelin scrapped its pledge to achieve 2013 operating income close to the 2.423 billion euros recorded last year, excluding one-time gains and charges. The company, based in the central French city of Clermont-Ferrand, is pushing a 2 billion euro expansion in emerging markets to offset the weaker economic outlook and saturated vehicle markets at home. Chief Financial Officer Marc Henry also stopped short of reiterating the company’s 2.9 billion euro profit goal for 2015 when pressed by analysts on Monday.
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How to Use ATR in a Forex Strategy
Reading ATR can be made easier through the use of the ATR in pips indicator. ATR (Average True Range) is an easy to read technical indicator designed to read market volatility. When a Forex trader knows how to read ATR, they can use current volatility to gauge the placement of stop and limit orders on existing positions. Today we will take a look at ATR and how to apply it to our trading. Learn Forex EURJPY Trend with ATR (Created using FXCMs Marketscope 2.0 charts) ATR is considered a volatility indicator as it measure the distance between a series of previous highs and lows, for a specific number or periods.
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