Article Content:
Three days of steady progress to the bottom side for the pair creates the likelihood that a bounce will be seen. Initially the bounce will only be to about 1.6050, the center line and tomorrows pivot…

Great week of trading topped with another 514 points.

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Article Content:
Hightlights:

February 2010 FXstreet.com Top 10 reports
1. Today’s Trading Signals [24,341; +0.02% MoM]
http://www.fxstreet.com/technical/analysis-reports/todays-trading-signals/

2. Currency Majors Technical Perspective [23,076; +2.27% MoM]
http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/

3. The best pair to trade now by Valeria Bednarik [16.091; +21.20%  MoM]
http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/

4. Daily Recommended Trades by InnerFX [9,101; +15.44% MoM]
http://www.fxstreet.com/technical/forex-forecasts/daily-recommended-trades/

5. Daily Technical Analysis by Mizuho Corporate Bank  [8,722 ; +3.29%  MoM]
http://www.fxstreet.com/technical/analysis-reports/daily-technical-analysis/

6. Forex Market Alerts by FXMarketAlerts [8,633; 15.55% MoM]
http://www.fxstreet.com/technical/market-view/fxmarketalerts/

7. The Euro in crisis? - The expert’s view by FXstreet.com [6,684]
http://www.fxstreet.com/fundamental/analysis-reports/the-euro-in-crisis-the-experts-view/

8. Top Fundamental Stories by ecPulse.com [6,621; 63.62% MoM]
http://www.fxstreet.com/fundamental/analysis-reports/top-fundamental-stories/

9. Chart of the Day by FX Solutions [6,301; +14.96% MoM]
http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/

10. Daily Trading Forecast by Swiss e trade [5,982; 28.26%]
http://www.fxstreet.com/technical/forex-strategy/daily-trading-forecast/

Update on Learning Center
Learning Center - Unit A - Absolute Essentials [10,256; -26.50%]
http://www.fxstreet.com/education/learning-center/unit-1/

Learning Center - Unit B - Analytical Tools [7,031; -24.98%]
http://www.fxstreet.com/education/learning-center/unit-2/

Learning Center - Unit C - System Modeling [6,262; -37.05%]
http://www.fxstreet.com/education/learning-center/unit-3/

Learning Center - Unit D - Sum Up and Go [3,120; 380.74%]
http://www.fxstreet.com/education/learning-center/unit-4/

Francesc

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Article Content:
CFTC Charges Texas Resident Willie L. Cloud, Jr. and His Investment Company, C & R Financial, with Operating a Foreign Currency Ponzi Scheme
The U.S. Commodity Futures Trading Commission (CFTC) today announced that it charged Willie L. Cloud, Jr. and his investment company, C & R Financial, Inc., both of Houston, Texas, with operating a Ponzi scheme in connection with foreign currency (forex) trading. The CFTC’s complaint, filed on March 4, 2010, alleges that, since at least April 2008, Cloud and C & R Financial solicited at least 0,000 from individuals for the sole purpose of trading forex. Allegedly, the defendants promised several customers that they would each have personal accounts at a registered futures commission merchant, through which defendants would trade forex for them.

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Article Content:
FXCM Introduces Mobile Forex Trading
FXCM has introduced a beta version of its mobile trading platform, available for iPhone, BlackBerry, and Windows Mobile phones.
New York, March 10, 2010—FXCM, (www.fxcm.com) one of the world’s largest online forex brokers, has introduced a beta version of its mobile trading platform. Available for iPhone, BlackBerry, and Windows Mobile phones, FXCM’s mobile Trading Station II provides forex trading anytime and anywhere.

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Article Content:
Leading Forex Introducing Brokers Form Coalition to Challenge Proposed CFTC Rulings
Today, a group of leading Forex Introducing Brokers (IBs) announced the formation of www.ibcoalition.org, an organization comprised of independent, regulated Forex Introducing Brokers who have joined together to challenge the proposed CFTC rules titled “Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries,” 75 FR 3282 (Jan. 20, 2010).

The main mission of the IB Coalition is to suggest significant changes to the proposed CFTC regulations. The IBs currently participating in www.ibcoalition.org are ATC Brokers (NFA Member #0358522), BackBay FX (NFA Member #0388617), Currensee (NFA Member #0403251), Fast Trading Services LLC d/b/a FastBrokers.com (NFA Member #0342002), Forex On The Go, LLC (NFA Member #0409594) and Gecko Financial Services, Inc. (NFA Member #0402367).

“We formed IBcoalition.org to come together as regulated IB businesses to oppose the proposed CFTC regulations that, if passed, will significantly change our businesses,” said Dave Lemont CEO Currensee. “Those of us in the IB Coalition are, we believe, the types of firms the Commission should be supporting as alternatives to the fraudulent unregistered solicitors the Commission has spent so much time and effort shutting down over the years. Unfortunately, though, in its zeal to curtail fraudulent solicitation practices, the Commission is proposing a set of rules that needlessly restrict legitimate Forex activities and will, if adopted, seriously undermine our ability to operate successfully as regulated alternatives. We welcome the opportunity to meet with the Commission and present our comments directly.”

The pending CFTC rulings propose that a Forex IB must enter into a guarantee agreement with a CFTC-regulated Forex Dealer Member (FDM), along with a requirement that the Forex IB may be a party to only one guarantee agreement at a time. By asking IBs to enter into an exclusive arrangement with only one FDM, IBs are limited in where they can refer customers, which creates a conflict of interest and is not aligned with the best interest of the customer. Independent IBs bring a valuable service to the retail trader. By carefully matching a trader’s style and needs with the right broker as it relates to spreads, trading platforms and customer service offerings, independent IBs help retail customers make the decision that’s right for them. Furthermore, these proposed rule changes are contradictory to the current CFTC policy in place for the on-exchange futures market, which allows independent IBs to introduce business to multiple Futures Commission Merchants thus enabling IBs to do what is in the best interest of their clients. The IB Coalition views the CFTC proposed rules as needlessly restricting legitimate Forex activities and capable of pushing Forex business off-shore, creating new opportunities for non-regulated or fraudulent businesses who don’t care about U.S. regulatory requirements.

The IB Coalition recently submitted a 10-page letter to the CFTC and, among other points, suggested the following changes to the proposed rulings

– First, the IB Coalition urged the CFTC to revise the proposed rules to permit a Forex IB to operate either as an independent IB subject to the same minimum capital requirements that apply to a futures IB or as a guaranteed IB.

– Second, the IB Coalition asked the CFTC to undertake a study of the retail Forex markets to assure that the rules it ultimately adopts are based on a solid factual understanding of the markets and are tailored accordingly.

– Third, the IB Coalition proposed the CFTC defer to NFA to set appropriate leverage restrictions as it relates to the proposed 10:1 leverage. An onerous leverage restriction, such as this, creates opportunities for unregistered fraudulent schemes to exploit U.S. customers is contrary to the public interest.

“As an IB, our job is to be objective and help the trader make the best decision about which broker best suits their needs,” says Stephen Leahy, President Back Bay FX. “The proposed CFTC rulings compromise the objectivity we are able to bring to our clients and completely disregards the best interest of the customer. Joining forces with the other IBs participating in ibcoalition.org is an important step in articulating our concerns both from a business and consumer-protection perspective. We welcome other IBs to join us in opposing the CFTC proposed rulings as it is currently written.”

The IB Coalition urges traders to make their voice heard by submitting their comments at www.ibcoalition.org.

About IBcoalition.org
IBcoalition.org is an organization comprised of independent, regulated Forex Introducing Brokers who have joined together to challenge the proposed CFTC rules titled “Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries,” 75 FR 3282 (Jan. 20, 2010). The main mission of the IB Coalition is to suggest significant changes to the proposed CFTC regulations and a number of Introducing Brokers have already joined the group. To get more information or find out how to join, please visit www.ibcoalition.org.

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Article Content:
Federal Court Issues Preliminary Injunction against Virginia Resident Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club in Forex Fraud Scheme
Order continues court’s asset freeze against Smith and prohibits him from further federal commodities law violations.
Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) obtained a preliminary injunction against defendant Ronald W. Smith, Jr., d/b/a Safeguard 3030 Investment Club, of Vansant, Virginia, after a federal court held at hearing where the defendant also appeared.

Related News:
CFTC Charges Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, in Forex Fraud Scheme

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Article Content:
I love this band “James” and this song “Getting Away With It”

This is a live version played during a concert in Manchester back in 2001… anyway, I love this song



If the name of the band “James” or the song above does not ring a bell to you, their most popular song is probably this one “sit down”

Francesc

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Article Content:
MF Global CEO Sees Trouble With CFTC Retail Forex Proposal
By Sarah N. Lynch Of DOW JONES NEWSWIRES
BOCA RATON, Fla. (Dow Jones)–A push by federal futures regulators to lower the amount of borrowed funds U.S. retail foreign exchange investors can use is the wrong regulatory approach and could push
business overseas, MF Global Chief Executive Bernie Dan said Thursday.

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Article Content:
Hi everyone

We have dates for the International Traders Conference - ITC - 2010!

The 4th edition of our Forex Conference will take place from October 20th to 22nd 2010 in Barcelona. The venue will take place at Barceló Atenea Mar once again for a third consecutive year.

I can not announce speakers yet but I can guarantee you that we will have a great panel of speakers this year we are celebrating our 10th anniversary.

Hope to see you there

Francesc

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Article Content:
How To Trade Forex - Trading Gurus Reveal Their Secrets

Special Webinars with the Speakers of the ITC Online!

Are you already making money trading Forex, or are you looking for better ways to trade?

What about your trading strategy: Does it perform as you expected or would you like to have a strategy that really works? Do you want to know how others “made it?”

Then join this free 2-part webinar, in which 6 of the world’s top currency traders and educators reveal their secrets.

This unique event will feature presentations from:

ON TUESDAY OCTOBER 16th:
o Markus Heitkoetter, CEO of Rockwell Trading and author of the international bestseller “The Complete Guide to Day Trading”
o Valeria Bednarik, Chief Analyst at FXstreet.com
o Kim Cramer Larson, CEO of Financial Trend Analysis

ON WEDNESDAY OCTOBER 17th
o Rob Booker, author of “Adventures of a Currency Trader” and Founder of TraderRadio.net
o James Chen, Chief Technical Strategist at FX Solutions
o Andrei Pehar, Chief Currency Strategist at fxKnight.com and author of “Trading Forex for a Living”

Here’s what you will learn:
o Their trading strategies - Learn how they trade
o Their mindset - Learn how they think
o Their approach - Learn how they find high probability trades in the markets

Register for Day 1:
http://www.fxstreet.com/live/sessions/session.aspx?id=c7c5e40c-07b0-4cee-9f78-e313ef8f9e7d

Register for Day 2:
http://www.fxstreet.com/live/sessions/session.aspx?id=61a8b188-4411-47ad-b8f5-417c03406173

More information about the ITC online, a 3-day virtual conference that you can attend from home! Keynote speeches and Live Trading Sessions with those top Forex experts and educators: http://www.traders-conference.com/itc-online.aspx
Early Bird offer: 197$ instead of 397$ (200$ off!!!)… only until Monday March 15th! Do not miss it!

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