Fundamental for 28th January

28th January, 11:00 AM
4)   Indian Interest Rate Decision

Actual:  

Forecast:7.80% 

Previous:7.75% 

Importance:

Currency:

INR

Source Of Report:

Reserve Bank of India

Monetary policy refers to the actions undertaken by a country's monetary authority, central bank or government to achieve certain national economic goals. It is based on the relationship between interest rates at which money can be borrowed and total supply of money. Policy rates are the most important rates within a country's monetary policy. Changing them influences economic growth,inflation, exchange rates and unemployment.
A higher than expected reading should be taken as positive/bullish for the INR , while a lower than expected reading should be taken as negative/bearish for the INR.

Fundamental for 28th Januay

27th January, 8:30 PM

2) USD New Home Sales

Actual:  

Forecast:457K 

Previous:464K 

Importance:

Currency:

USD

Source Of Report:

Census Bureau

27th January, 8:30 PM

3) USD New Home Sales (MoM)

Actual:  

Forecast:-1.3% 

Previous:-2.1% 

Importance:

Currency:

USD

Fundamental for 28th January

27th January, 7:30 PM

1) USD 

Services PMI

Actual:  

Forecast:56.2 

Previous:55.7 

Importance:

Currency:

USD

Disadvantages of Forex Trading in India over Currency traded Internationally

• Indian Currency Trading market  is 9am to 5pm market.  Market is only open for 9am to 5pm That means you can take action (Buy or Sell) in between this  time only. This is mxs-sx market. You will get more details through the web-site www.mcx-sx.com
• Indian brokerage – Forex market in   India takes brokerage charges starting from 10 rs to 50 rs per lot.  Also along with this other charges are included (Service tax+ surcharge +other). Which is really high.
• For most of the brokers trading platform is Diet-Odien or Java based application. Which not yet fully functional.
• Above mentioned Software application is not yet competitive with respect to the international broker software, following are some of the limitation-

- You can not put multiple trades at a time. That means putting Buy Stop/limit & Sell Stop/Limit is really complex.
- Does not have the advanced indicators like – Echimoikhu, Pivot, Remaining candle time
- also drawing the trend line & other price actions pattern on the chart is not that way easy.

• Not an easy way to access your account details directly, that means you need to login to the back-office through the web-site OR need to call your customer care to know the money status & to add, receive money from your currency trading account.
• Software platform is not stable you will see unexpected move in the candles (Very high candle bullish/very low candle bullish) . Software is hung and need to restart your system.
• The software updates are not that way easy to install. Need to contact customer care and then they will install the modified
• There are very few brokers that offering very good customer care services, whereas for others it is just like commodity & equity ..yet they have not understood the importance of currency trading.
• So choosing a reputed broker is headache. Because as per human tendency we do not change the broker as we are rigid to change our mind and switch to other broker services.
• Yet there is not a stable platform to trade using Mobile.

One more Fundamental for Monday market

Friday , 21:00 PM

  USD 

ECRI Weekly Annualized (WoW)

• History

Release Date	Actual	Forecast	Previous
Jan. 17, 2014	3.7%		2.5%
Jan. 10, 2014	2.5%		1.9%
Jan. 03, 2014	1.8%		1.8%
Dec. 27, 2013	1.9%		2.1%
Dec. 20, 2013	2.1%		2.7%
Dec. 13, 2013	2.8%		2.9%

 

Actual:4.2% 

Forecast:  

Previous:3.5% 

Importance:

Currency:

USD

Current Initial Jobless Claims

Actual 326K   Forecast 326K   Previous 325K Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

Repo rate and Reverse Repo Rate

Repo rate
is the rate at which banks borrow money from RBI in case they are short of funds, while 

Reverse Repo Rate 
is the rate of interest banks get when they park their surplus funds with the central bank. 


CRR, on the other hand is the liquid cash that banks need to keep with the RBI to meet any emergency cash requirement and the central bank does not pay any interest to banks on this money.

Indian FX Reserves, USD

Indian FX Reserves, USD

Actual - Forecast        Previous 293.11B International reserves are used to settle balance of payments deficits between countries. International reserves are made up of foreign currency assets, gold, holdings of SDRs and reserve position in the IMF.Usually includes foreign currencies themselves, other assets denominated in foreign currencies, and particular amount of special drawing rights (SDRs). A foreign exchange reserve is a useful precaution for countries exposed to financial crises. It can be used for the purpose of intervening in the exchange market to influence or peg the exchange rate. A higher than expected reading should be taken as positive/bullish for the INR , while a lower than expected reading should be taken as negative/bearish for the INR.

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How to Buy/Sell Lots Odin Diet Software Currency Market

• Consider the above diagram. Consider it shows the live market example.
• You entered in market, It looks like it is going to be  Uptrend from Market condition.
• So How to buy at given prize? - learn from Odin diet software.
• We have already learnt 

1. How to start withe chart 
2. 
   

1> Lets consider the start position as shown below

2> Buy Order Button

• As shown in the function buttons press on Orders button and the Place Buy Orders
• OR the short cut key is F1, press F1 to open the buy window. 

3> See the Buy window as below

• Buy order window is shown below, see the prize choose as below. 
• Then press the submit button.

4> After you submit button the Pop will look like this

5> One submitted then you can see your orders by F3 button or Orderbook see the following Image

6> Setting the Stop loss as shown below

As shown  stop is the loss you bear if market goes against your predication.

Stop Loss - To avoid your emotions driving your market, you set a target point where you will come out of market with minimum losses

As show