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OctaFX.Com - Forex: Euro Struggles On Deepening Recession- ECB Rate Cut On Horizon Talking Points Euro: 3Q Employment Falters, Core Inflation Falls Short Of Expectations British Pound: U.K. Core Inflation To Tick Higher, All Eyes On BoE Minutes U.S. Dollar: Index Pares Losses As Risk Appetite Subsides, CPI Misses Forecast Euro: 3Q Employment Falters, Core Inflation Falls Short Of Expectations The EURUSD pared the overnight advance to 1.3118 as employment in the euro-area contracted 0.2% in the third-quarter, and the ongoing weakness in the labor market may produce a prolonged recession in Europe as the jobless rate is expected to hit fresh record-highs in 2013. Although the headline reading for euro-area inflation held steady at 2.2% in November, the core reading for consumer prices increased 1.4% during the same period to mark the slowest pace of growth since August 2011, and easing price pressures certainly raises the scope for another rate from the European Central Bank (ECB)as the economic downturn threatens price stability. As the ECB preserves a dovish tone for monetary policy, we should see the Governing Council carry its easing cycle into the following year, and the Governing Council looks poised to push the benchmark interest rate to a fresh record-low in an effort to stem the downside risks for growth and inflation. As the EURUSD continues to carve a lower top around the 38.2% Fibonacci retracement from the 2009 high to the 2010 low (1.3120), we may see a short-term reversal take shape in the week ahead, and we will look for a move back towards the 23.6% retracement around 1.2640-50 as the fundamental outlook for the euro-area remains bleak. British Pound: U.K. Core Inflation To Tick Higher, All Eyes On BoE Minutes The British Pound fell back from 1.6142 to trade within the previous day’s range, and the sterling appears to be coiling up for a move higher as the economic docket for the following week is expected to dampen bets for more monetary support. Although the headline reading for U.K. inflation is expected to hold steady at 2.7%, we’re anticipating a small uptick in the core CPI, and sticky price growth may prop up the sterling ahead of the Bank of England (BoE) Minutes due out on December 19 as the central bank drops its dovish tone for monetary policy. Indeed, the policy statement may reveal a shift in policy outlook as the BoE looks to address the threat for inflation, and we should see the Monetary Policy Committee (MPC) slowly move away from its easing cycle as price growth is expected to hold above the 2% target over the next two-years. In turn, we should see the MPC endorse a wait-and-see approach in 2013, and a growing number of BoE officials may start to draw up a tentative exit strategy in the year ahead in an effort to balance the risks surrounding the U.K. economy. As the relative strength index on the GBPUPSD preserves the upward trend from November, we continue to look for another test of the 23.6% Fib from the 2009 low to high around 1.6200, and we may see the British Pound outperform in 2013 as the BoE appears to be bringing its easing cycle to an end. U.S. Dollar: Index Pares Losses As Risk Appetite Subsides, CPI Misses Forecast The greenback appears to be regaining its footing going into the North American trade, with the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDOLLAR) bouncing back from a low 9,951, and the reserve currency may track higher throughout the remainder of the day as the rebound in risk sentiment appears to be tapering off. Nevertheless, we saw U.S. consumer prices slow for the first time since May, led by lower energy costs, and easing price pressures dampens the appeal of the greenback as it increases the Fed’s scope to expand its balance sheet further. As the central bank maintains a highly accommodative policy stance, speculation for more easing will continue to drag on the exchange rate, but we may6 see the 2013 Federal Open Market Committee (FOMC) scale back their dovish tone amid the more broad-based recovery in the world’s largest economy. Dec 14, 2012 OctaFX.Com News Updates

OctaFX.Com - ECB: 'Tangible easing' of crisis, risks remain European Central Bank: strains on eurozone banks, markets have eased but much remains to do FRANKFURT, Germany (AP) -- The European Central Bank says there has been a "tangible easing" of stress on banks and markets from the eurozone debt crisis. It says risks remain, however, particularly if governments slow down their efforts to cut debt and deficits and improve growth. The bank is crediting its plan to buy the bonds of heavily indebted countries, which would lower their borrowing costs. European Union efforts to establish stronger banking oversight helped too, the bank said Friday. The bond purchase plan has seen borrowing rates fall for troubled countries such as Spain and Italy, even though no bonds have been bought. The ECB warned that the banking system across the 17 countries that use the euro remains fragmented, with borrowing costs higher in troubled countries than in others. Dec 14, 2012 OctaFX.Com News Updates

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OctaFx - Forex Analysis: Forex Analysis: US Dollar Classic Technical Report 12.12.2012 Prices are resting at rising trend line support set from the mid-September bottom, with the outlines of a Flag chart formation hinting at bullish continuation. A Piercing Line candlestick pattern reinforces the case for an upside scenario. A break above Flag resistance at 9976 initially exposes the 23.6% Fibonacci expansion at 9995. Alternatively, a drop below the trend line (now at 9942) targets the Flag bottom at 9895. Dec 12, 2012 OctaFX.Com News Updates

OctaFx - Forex Analysis: US Dollar, S&P 500 Charts Warn of Risk Aversion Ahead THE TAKEAWAY: US Dollar and S&P 500 technical positioning hints the greenback is aiming to reverse higher on the back of haven demand as the equity benchmark turns downward. US DOLLAR TECHNICAL ANALYSIS– Prices are resting at rising trend line support set from the mid-September bottom, with the outlines of a Flag chart formation hinting at bullish continuation. A Piercing Line candlestick pattern reinforces the case for an upside scenario. A break above Flag resistance at 9976 initially exposes the 23.6% Fibonacci expansion at 9995. Alternatively, a drop below the trend line (now at 9942) targets the Flag bottom at 9895. Read more Dec 12, 2012 OctaFX.Com News Updates

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OctaFx.com - Forex Analysis: Euro May Look Past Disappointing German ZEW Data The Euro is likely to look past what could be a disappointing outcome on Germany’s ZEW investor confidence gauge before this week’s EU leaders’ summit. Talking Points German ZEW May Surprise Lower But Euro Follow-Through Unlikely US Dollar May Rise as S&P 500 Futures Point to Risk-Averse Mood December’s German ZEW Survey of investor confidence is in focus on the European economic calendar. Forecasts suggest the forward-looking Expectations index will continue to moderate, showing sentiment remains net negative but by a smaller margin. The gauge has closely tracked Italian bond yields, suggesting the evolution of the Eurozone debt crisis is the key trend-setter. Rates on the benchmark Italian 10-year debt have edged higher this month, pointing to a pickup in funding stress and warning the ZEW reading may fall short of expectations. While this may put near-term downward pressure on the Euro, follow-through is likely to prove limited. Indeed, yields themselves are a far timelier indicator of investors’ confidence in Eurozone crisis containment efforts than the ZEW reading. Furthermore, traders are unlikely to commit to a firm directional bias until the outcome of this week’s EU Leaders’ summit. On the sentiment front, S&P 500 futures are pointing lower, arguing for a risk-off mood heading into European trading hours and hinting the safety-linked US Dollar may have scope to advance against most of its top counterparts. Trading was muted in the overnight session, with the major currencies locked in narrow consolidation ranges. Dec 11, 2012 OctaFX.Com News Updates

OctaFx - Greece extends buyback offer to reach 30 billion-euro target ATHENS/BRUSSELS (Reuters) - Greece extended its offer to buy back debt until Tuesday, seeking more bids from bondholders after falling short of a target to retire bonds worth 30 billion euros at a cost of just 10 billion euros. The buyback is designed to provide for about half of a 40-billion euro debt relief package for Athens agreed last month by the European Union and International Monetary Fund. Its success is crucial to ensuring Greece's debt is put back on sustainable footing and - more immediately - to unlocking badly-needed aid for the country. Despite the initial lack of investor interest, the scheme is expected to ultimately hit its targets since Greek banks - whose own fate depends on a successful buyback - are expected to stump up the shortfall. A total of 26.5 billion euros was tendered at an average price of 33.4 percent of face value when the offer expired on Friday, a senior euro zone official told Reuters. That would mean Greece would still have 1.15 billion euros left over from the 10 billion euros it was allotted to spend to retire outstanding debt. Assuming the same average price, it could buy an extra 3.5 billion euros worth of bonds. Greece's debt agency extended the offer to 7 a.m. EDT on Tuesday following Friday's deadline. "The aim is to reach the 30 billion euro target on the face value of debt to be bought back," said a government official, who declined to be named, adding the aim was to use all of the 10 billion euros given by lenders for the buyback. Euro zone finance ministers will meet on Thursday in Brussels to review the buyback operation and formally release the next disbursement of loans to Greece under its second international rescue program. "We are confident that there is still scope for additional tenders by domestic and international investors to ensure a successful debt buyback," European Commission spokesman Simon O'Connor told a regular briefing in Brussels. "EASILY COVERED" A senior Greek banker who spoke on condition of anonymity said Athens aimed to use the additional day to get another 3 to 4 billion euros worth of bonds offered for exchange. "This will be easily covered by Greek banks, if foreign bondholders do not offer more," the banker told Reuters. Greek banks and insurers had tendered about 10 billion euros of bonds out of their total holdings of about 17 billion euros, the banker said. Nearly 63 billion euros of Greek debt held by private investors was eligible for the buyback. Shortly before the previous Friday deadline expired, Greek banks got board approvals to offer as much as 100 percent of their bondholdings to make the buyback work. Athens had offered better-than-expected terms for the buyback to entice investors, with price ranges at a premium over market prices. But Greek lenders had been reluctant to sell back to the government all of their bondholdings, trying to limit the future profits and interest income on their bonds they will forego. However, they are expected to step up now to ensure a successful buyback since they depend on the bailout funds that Athens stands to receive once it is completed. A big chunk of the 34.4 billion euros of aid due will be used to recapitalize them. Athens badly needs the aid to revive its ailing economy, which is on track for a sixth year of recession due to austerity measures including spending cuts and tax hikes. The EU and the IMF have been withholding rescue payments to Greece for six months because it had failed on pledges to shore up its finances, privatize and make its economy more competitive. Greece and its international lenders had shied away from setting a binding target for the buyback, apart from saying that Athens would spend a maximum of 10 billion euros on it. Under the scheme, Greece was expected to spend that amount to repurchase 30 billion euros of debt, shaving it by a net 20 billion euros. That would help slash Greece's debt to 124 percent of GDP by 2020, ensuring that the IMF stays on board in the country's rescue. Greece set December 18 as the settlement date for offers on the 20 series of outstanding bonds it is buying back. Athens' debt agency chief urged investors to tender their holdings, warning a similar deal may not come again. "Future measures may not involve an opportunity to exit investments ... at the levels offered for this buyback," PDMA Chief Stelios Papadopoulos said in a statement. Dec 10, 2012 OctaFX.Com News Updates

OctaFx - Greece received 26.5 billion euros in buyback bids by end-Friday BRUSSELS (Reuters) - Greece received a total of 26.5 billion euros ($34.3 billion) in offers for its debt buyback at the close of business on December 7, a senior euro zone official told Reuters on Monday. The official said the price was 33.4 percent. Greece has extended its offer to buy back debt until Tuesday, seeking more bids from bondholders after falling just short of a target to retire bonds worth 30 billion euros at a cost of just 10 billion euros. The buyback is designed to provide for about half of a 40-billion euro debt relief package for Athens agreed last month by the European Union and International Monetary Fund. The offer had been due to end on Friday. The Greek debt agency extended the offer to 7 a.m. EDT on Tuesday. "We are confident that there is still scope for additional tenders by domestic and international investors to ensure a successful debt buyback," European Commission spokesman Simon O'Connor told a regular briefing in Brussels. Euro zone finance ministers will meet on Thursday in Brussels to review the buyback operation and formally release the next disbursement of loans to Greece under its second international rescue program. Dec 10, 2012 OctaFX.Com News Updates

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OctaFX.Com -Forex Analysis: Euro Jolted by ECB Rate Cut Rumors – Data Offers Little Clarity The Euro was one of the worst performing currencies this week, losing -0.46% to the US Dollar and -1.93% to the top New Zealand Dollar, as an interesting mix of data and commentary from central bankers and politicians allowed for an odd week of trading, with weakness in equity market and European peripheral bonds (rising yields), while strength in high beta currencies such as the Australian and New Zealand Dollars. The Euro was looking strong in the early part of the week, rising back above 1.3100 against the US Dollar as progress on the US fiscal cliff/slope soothed near-term investors’ anxiety. But by mid-week, the Euro’s fortunes were very much changed. With an inconclusive docket for the coming week, with a decision on Greece’s aid tranche on Thursday, with Spain beginning to flirt with a bailout request, and with the European Central Bank’s policy meeting results all likely to influence the 17-nation single currency, we must maintain a “neutral” bias on the Euro. To review: Spain has officially requested bailout funds for its banking sector. There were also rumors that Spain would seek a full sovereign bailout if the ECB would be willing to keep its longer-term yields within 2% of Germany’s. Obviously, this would not happen; ECB President Mario Draghi said on Thursday that the market has to find its own “natural” rates within reason; this in and of itself is a direct refutation of the Spanish request. This means that not only is the ECB on hold (no further rate cuts), but nothing else will be done until Spain takes the ECB’s conditions; the tail will not wag the dog. The region could use looser monetary conditions, with Germany starting to see weaker growth; yet any additional measures will likely result in higher inflation in the core countries as well as sovereign moral hazard. We don’t see a rate change at present time, even though Bloomberg News reported that most ECB policymakers favored a 25-bps rate cut on Thursday. Additionally, the European Union will deliver its final decision on the Greek aid tranche this Thursday, at which we expect a full dispersion to take place, or a planned release of funds in the future. Primarily, it is highly unlikely German Chancellor Angela Merkel allows Greece to leave the Euro-zone and allow a failure on her record (the beginning of the break-up of the Euro-zone) ahead of elections in just a few months. It would be very surprising if Greece does not receive the aid. The data picture the coming week is neutral to bullish for the Euro, which could help some of these other negative pressures present. On Monday, the December Euro-zone Sentix Investor Confidence reading is expected to have increased to -16.9 from -18.8. On Tuesday, the German ZEW Survey will show improvement in both the Current Situation and Economic Sentiment readings, which should ease 4Q’12 concerns about German growth. The Euro-zone Consumer Price Index this Friday draws our attention. Inflation is expected at -0.2% m/m in November, down from the +0.2% m/m reading in October. The yearly figure is expected at +2.2% from +2.5% y/y previously. These figures suggest aggregate demand in the Euro-zone is falling, a view shared by the ECB on Thursday. If deflation takes hold, a rate cut becomes a very real possibility in 1Q’ or 2Q’12. There are many different factors weighing on the Euro right now; while they’re mostly negative, positive outcomes remain possible. Accordingly, with data poised to offset concerns over Spain and the ECB over the coming week, we must give the Euro a “neutral” rating going forward; when risk-appetite is prevalent, the Euro could trail the winners; and when risk-aversion is prevalent, the Euro could lead the decliners Dec 8, 2012 OctaFX.Com News Updates

OctaFX.Com -Forex Analysis: British Pound Outlook Supported By BoE Policy- 1.6200 Remains Key The British Pound continued to retrace the decline from back in September as the Bank of England (BoE) maintained its current policy stance in December, and the short-term rebound in the GBPUSD may gather pace over the remainder of the year as the central bank appears to be slowly moving away from its easing cycle. Beyond the headline reading for U.K. Jobless Claims, which is expected to increase another 7.0K in November, we’re expecting to see average weekly earnings including bonuses increased for the third month in October, and another uptick in wage growth may become a growing concern for the Monetary Policy Committee (MPC) as inflation is expected to hold above the 2% target over the next two-years. Indeed, the BoE kept the benchmark interest rate at 0.50% and maintains its asset purchase program at GBP 375B, and we may see the central bank adopt a more hawkish tone for monetary policy as the U.K. emerges from the double-dip recession. Former MPC dove Adam Posen argued that the central bank is ‘going to be on hold indefinitely’ as the central bank turns its attention to the stickiness in inflation, and the BoE may shift gears in the following year as it aims to preserve price stability. Although the deepening recession in the Euro Zone – the U.K.’s largest trading partner – casts a weakened outlook for growth, we’ve seem consumer price growth hold above target since November 2009, and the committee may look to address the threat for inflation in an effort to preserve its credibility. As a BoE survey shows inflation expectations for the next 12-months increasing an annualized 3.5% following the 3.2% expansion in August, heightening price pressures in the U.K. should continue to prop up the British Pound as it pushes the BoE to scale back its willingness to expand its balance sheet further. As the relative strength index on the GBPUSD struggles to maintain the upward trend carried over from the previous month, the pound-dollar may continue to consolidate ahead of the BoE Minutes due out on December 19, and the exchange rate may continue to bounce between 1.6000-1.6100 as market participants weigh the outlook for monetary policy. Nevertheless, as the shift in the policy outlook fosters a bullish forecast for the British Pound, the rebound from 1.5822 may continue to gather pace over the near-term, but we would need a more meaningful move above 1.6200 – the 23.6% Fibonacci retracement from the 2009 low to high – to see the pair breakout of the downward trend carried over from 2011. Dec 8, 2012 OctaFX.Com News Updates

OctaFX.Com -Forex Analysis: British Pound Outlook Supported By BoE Policy- 1.6200 Remains Key The British Pound continued to retrace the decline from back in September as the Bank of England (BoE) maintained its current policy stance in December, and the short-term rebound in the GBPUSD may gather pace over the remainder of the year as the central bank appears to be slowly moving away from its easing cycle. Beyond the headline reading for U.K. Jobless Claims, which is expected to increase another 7.0K in November, we’re expecting to see average weekly earnings including bonuses increased for the third month in October, and another uptick in wage growth may become a growing concern for the Monetary Policy Committee (MPC) as inflation is expected to hold above the 2% target over the next two-years. Indeed, the BoE kept the benchmark interest rate at 0.50% and maintains its asset purchase program at GBP 375B, and we may see the central bank adopt a more hawkish tone for monetary policy as the U.K. emerges from the double-dip recession. Former MPC dove Adam Posen argued that the central bank is ‘going to be on hold indefinitely’ as the central bank turns its attention to the stickiness in inflation, and the BoE may shift gears in the following year as it aims to preserve price stability. Although the deepening recession in the Euro Zone – the U.K.’s largest trading partner – casts a weakened outlook for growth, we’ve seem consumer price growth hold above target since November 2009, and the committee may look to address the threat for inflation in an effort to preserve its credibility. As a BoE survey shows inflation expectations for the next 12-months increasing an annualized 3.5% following the 3.2% expansion in August, heightening price pressures in the U.K. should continue to prop up the British Pound as it pushes the BoE to scale back its willingness to expand its balance sheet further. As the relative strength index on the GBPUSD struggles to maintain the upward trend carried over from the previous month, the pound-dollar may continue to consolidate ahead of the BoE Minutes due out on December 19, and the exchange rate may continue to bounce between 1.6000-1.6100 as market participants weigh the outlook for monetary policy. Nevertheless, as the shift in the policy outlook fosters a bullish forecast for the British Pound, the rebound from 1.5822 may continue to gather pace over the near-term, but we would need a more meaningful move above 1.6200 – the 23.6% Fibonacci retracement from the 2009 low to high – to see the pair breakout of the downward trend carried over from 2011. Dec 8, 2012 OctaFX.Com News Updates

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OctaFX.Com - FOREX Technical Analysis: NZD/USD Slams into Short Term Channel and Reverses Chart Prepared by Jamie Saettele, CMT FOREXAnalysis: “Bigger picture, the NZDUSD appears quite bullish as the decline from 8355 is in 3 waves (corrective) and the rally from 8052 is in 5 waves. The question at this point is whether the decline from 8267 is complete or simply part of a larger correction that ends below 8170 and closer to the estimated 8125/35 support.” The NZDUSD has headed straight up since 8170. Given the reaction at channel resistance today, there is the possibility that the advance from 8052 composes wave B of a triangle or flat that began on 9/28. That scenario is not viewed as probable as long as price is above 8170 however. A Fibonacci confluence and August 2011 high intersects with a channel at the end of December. FOREXTrading Strategy: Weakness into 8240 would be worthy of bullish consideration against 8170. Dec 7, 2012 OctaFX.Com News Updates

OctaFx -ECB cuts growth outlook for eurozone, holds rates European Central Bank cuts growth outlook for eurozone, leaves interest rates unchanged FRANKFURT, Germany (AP) -- The European Central Bank underlined the gloomy prospects for the economy of the 17 European Union countries that use the euro, cutting its forecast for growth next year to minus 0.3 percent from plus 0.5 percent. Even so, the bank left rates unchanged at its meeting Thursday, and ECB head Mario Draghi gave little sign the bank was willing to add more stimulus. He said the bank had already done much to lower borrowing costs in heavily indebted countries that are struggling to grow. The bank's 22-member governing council kept the refinancing rate unchanged at 0.75 percent. The rate determines what private-sector banks are charged for borrowing from the ECB, and through that what rate the banks set for their businesses and consumer clients. Draghi said current rates were "very accomodative" — meaning they are low enough to encourage growth. He also said that the ECB had already effectively lowered some interest rates with its plan announced in September to buy the bonds of indebted countries. That plan — which would drive down borrowing costs for indebted governments that ask for help — had already led to drop of as much as 2 or 2 ½ percentage points in some countries borrowing costs, just on anticipation by bond investors. "That is much more than you can achieve by a cut in the policy rate," Draghi said. The eurozone's economy is in recession, having shrunk 0.1 percent in the third quarter after a 0.2 percent fall in the previous three months. A recession is often defined as two quarters of negative growth in a row. It is expected to contract again in the last three months of the year. Draghi said the slump would continue into next year, with a gradual recovery later in 2013. The bank's minus 0.3 percent outlook is the midpoint of the forecast rate of between minus 0.9 percent and plus 0.3 percent. Growth is being held back across the eurozone as governments slash spending and raise taxes to try to reduce levels of debt piled up from overspending in the case of Greece or real estate bubbles and banking crises in Spain and Ireland. Greece, Portugal, Ireland and tiny Cyprus have already needed bailouts, while Italy and Spain, the eurozone's third- and fourth-largest economies, teetered on the edge of needing help this summer. A rate reduction in theory could stimulate the eurozone's economy by making it easier to borrow, spend and invest. But rates are already low, and borrowing remains weak. There are only a few early signs that previous rate cuts and stimulus measures are finally trickling through to the wider economy. Draghi said that there had been a "wide discussion" on interest rates but that "in the end the consensus was to leave rates unchanged." Use of the term "consensus" suggests the council was not unanimous, but many analysts think the ECB could leave rates alone well into next year and might be done cutting. Some analysts think the bank may now consider it has done enough to help the economy after a year of drastic measures. The most important was an offer in September to buy unlimited amounts of bonds issued by of Europe's heavily indebted countries. It also made €1 trillion ($1.3 trillion) in cheap, long-term loans to stabilize shaky banks last December and February, and cut rates a quarter point in July. The bond purchase plan announced in September has helped stabilize the eurozone debt crisis. The purchases would aim to drive down bond interest rates, which would lower borrowing costs for indebted countries such as Spain and Italy and make it easier for them to manage their debt loads. Although no bonds have been bought, the mere possibility has influenced the bond market. The interest yield on Spanish 10-year bonds is down to around 5.4 percent now, from 7.6 percent in July. Italy's costs to borrow for 10 years are now down to 4.4 percent, down from over 7 percent at the start of the year and close to the country's average for the past decade, But while governments are breathing easier, that hasn't restarted growth. The ECB has tried to make sure that its crisis efforts are making it through to the eurozone's wider economy — but it is taking time to be felt and fear and reluctance remain. While some business confidence indicators are beginning to rise and the supply of money in the economy is increasing, consumer spending sagged 1.2 percent in October. Dec 6, 2012 OctaFX.Com News Updates

OctaFX Champion Contest Round 7 Grand Award! Dear traders! Today we are proud to award OctaFX Champion Round 7 winners! The round results remained unpredictable literally till the last minute. And traditionally, we have interviewed those who won the competition and asked them to share their success stories for everyone to see and follow. Now, let’s allow our winners speak for themselves: 1st prize, 500 USD, and congratulations to Mr. Ludiso Januarta from Indonesia Q: So what is the best forex strategy that you used to win? A: I use the martingale strategy and a few indicators that I always use for manual trading Q: Your impressions about OctaFX contests and other services (if you use them, of course)? A: With the demo contest in OctaFX, where I can learn how to use a good strategy, and provide an opportunity for traders newbies like me to learn to improve the quality of trading. SALAM SUKSES! 2nd prize, 300 USD, and our huge respect to Mr. Heri Cahyo Riyanto Syarifuddin from Indonesia Q: What is your main secret in trading? How did you become so successful, share your ideas with traders around the world, please. A: The secret is patient to wait for the best momentum to open trade.Don't be greedy.Don't collect the pips but dollar! I am a newbie in forex. This is my first joining in OctaFX Demo Contest.I am very surprised when I could win the 2nd Prize. WOW...Thank you OctaFX! I hope in future OctaFX will increase the prize. 3rd prize, 100 USD, and give props to Mr. Sergii Tkachenko from Ukraine Q: So what is the best forex strategy that you used to win? A: I had't specific strategies, I just traded. It was the 6-th time I participated, fortunatelly I was lucky. The main secret of trading is discipline and adherence to the plan. And stop in time, do not be greedy. Finally the last, but not the least prize winner, Mr. Cuong Le from Vietnam On behalf of OctaFX we would like to thank each contestant for taking part in OctaFX demo contests! And we promise to continue the tradition of the amazing OctaFX Champion Demo Contest! Don't miss your chance to become a winner!. Take part in OctaFX contests and win cool prizes! Start your successful trading with OctaFX today

OctaFX.Com - Forex News: Euro Fails to Hold 1.31 As Spanish Bond Auction Misses Target Despite the failure to reach a final agreement on a joint banking supervisor in yesterday’s meeting of European finance ministers, the Euro still climbed higher in yesterday’s session and rose above 1.3100 in the first part of today’s trading. Risk sentiment seems to be higher as the move was mimicked by other risk-correlated currencies, and European equities opened higher in today’s trading. Part of the optimism may come from Asian markets, where the Shanghai Composite index climbed nearly 3% in today’s trading, following an announcement that economic policies will be kept stable in China. There were only a few economic releases in today’s European session. The 10th straight decline in Euro-zone composite output was not as bad as initially estimated, and the rise in UK services activity disappointed expectations. The bigger decline came when sales of Spanish 3, 7, and 10-year bonds disappointed a maximum target of 4.5 billion Euros by only raising 4.25 billion in the auction. Then, Euro-zone retail sales were reported to have declined 1.2% in October, the disappointing number kept EURUSD below 1.3100. The Euro is currently trading at about 1.3085 against the US Dollar in forex markets. Resistance could be provided by a 2-month high at 1.3139, and support could be provided at 1.3026, by the 76.4% retracement of the drop from October’s high to November’s low. Tomorrow could see a lot of movement in Euro trading. The ECB will announce the interest rate at 12:45 GMT, expectations are for the rate to be left at 0.75%. Also, an updated estimate of the Euro-zone GDP for Q3 will be released, the previous estimate saw a 0.1% decline. EURUSD Daily: December 5, 2012 Dec 5, 2012 OctaFX.Com News Updates

OctaFX.Com - Eurozone retail sales slump in October Eurozone retail sales in unexpectedly big slump in October as investors await ECB meeting LONDON (AP) -- Retail sales across the 17 European Union countries that use the euro slumped far more than anticipated in October, largely due to a huge drop in Germany, in a development that will put more pressure on the European Central Bank to cut borrowing rates soon. Euro stat, the EU's statistics office, said Wednesday that euro-zone retail sales fell 1.2 percent in October from the previous month, double September's decline and substantially more than the 0.2 percent drop expected in the markets The figures provide further evidence that households across the euro-zone remain gloomy over the economy and are reluctant to spend more than they have to — non-food sales were particularly weak during October. The euro-zone is back in recession, officially defined as two straight quarters of falling output, and unemployment is up at a record high of 11.7 percent with 18.7 million people out of work. "The prospects for consumer spending in the euro-zone look troubling in the near term at least given very low consumer confidence, high and rising unemployment, generally muted wage growth and tightening fiscal policy in many countries," said Howard Archer, chief European economist at IHS Global Insight. While five of the countries at the epicenter of Europe's debt crisis — Greece, Cyprus, Spain, Portugal and Italy — are in recession, other economies, such as powerhouse Germany, are also now seeing demand wane. German retail sales fell a staggering monthly 2.8 percent, according to Eurostat. Wednesday's figures come a day before the ECB meets to decide on whether to cut its main interest rate from the record low of 0.75 percent. Most economists think the ECB will wait before backing another cut, though the dire economic indicators recently have created some uncertainty over its decision. The euro fell on the latest figures, trading 0.1 percent lower on the day at $1.3093. As well as announcing its latest interest rate decision, the ECB is also due to unveil its latest quarterly economic projections. They're not expected to show a recovery in the euro-zone economy before the second half of next year at the earliest as many governments continue to enact spending cuts and tax increases to lower debt. A separate survey reinforced market expectations that the recession in the eurozone has continued into the fourth quarter. Though the monthly purchasing managers' index — a broad gauge of business activity — from financial information company Markit was revised up to 46.5 in November from the previous estimate of 45.8, the survey still points to recession — any reading below 50 points to a contraction in activity. Dec 5, 2012 OctaFX.Com News Updates

OctaFX.com-OctaFX Champion Demo Contest Current update! Current update Champion Demo Contest a lot of contestants showing there keen interest in it and currently our top contestant ladduforex has piled up with $61 537.77. So,come and grab the opportunity and be the part of matchless traders. Contests schedule Current round (GMT+2) Registration: Oct 1, 2012 00:00 - Oct 29, 2012 00:00 Duration: Oct 29, 2012 00:00 - Nov 24, 2012 00:00 Next round (GMT+2) Registration: Oct 29, 2012 00:00 - Nov 26, 2012 00:00 Duration: Nov 26, 2012 00:00 - Dec 22, 2012 00:00 As usual, good luck everyone and let the strongest win! View round standings

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