Forex Trading is Halal or Haram In Islam?

I am traveling to Middle East and South –East Asia in the upcoming weeks where the population is largely Muslim and before my trip all my soon to be trainees  are asking “Forex is Halal or Haram?” It's my Personal opinion, I am sorry if anyone hurts with it.

I believe that " Selling currencies is usually done without the hand to hand exchange which makes them permissible according to sharee’ah."

Forex is Halal if you are not gambling and have your end goals clearly distinguished.

1- As a Forex trader you need to have a reason to take that action (sell or buy)

2- Not gamble on the trend direction but analyze the market

3- Not trade for the sake of excitement but trade for the potential income and to make a living

4- Not to approach it as a game but as a job

5- Have a mindset to win or to protect your equity rather than telling yourself “if I win I win, if not next time”

6- You learn from your losses and move on with the decision taken by yourself rather than blaming the market or blaming the situation.

It's a bit blurry so to say. 
But if you're honest to yourself, you know whether you're trading or gambling.

Join here :  Forex trading

Comment your Number if you are interested.  

H4 chart of the USD/CAD Forex Pair , showing a nice falling wedge formation:

What is happening with the Loonie exchange rate? This is what we are going to tell you now! Below you will find the H4 chart of the USD/CAD Forex Pair, showing a nice falling wedge formation:

    

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As you see, in Friday the USD/CAD price broke the blue falling wedge formation in bullish direction. The breakout is visualized with the red circle on the image. Now the Loonie is probably facing a new bullish attitude.

Since we have a falling wedge chart pattern during a bearish trend, we expect an increase of the price equal to the size of the formation. This is shown with the black arrows on the image above.

The USD/CAD Forex exchange rate is currently situated around 1.4053 CAD for one USD. If the Price starts a movement after the falling wedge chart figure, we might see the price reaching  a weekly high around 1.4216.

Maybe it is time to start thinking long now?

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Crude oil prices rose by around 9 percent last week.

Today's Chart: CRUDEOIL 

Overview :

Crude oil prices rose by around 9 percent  last week. After hitting the psychological level of $50 and remain stable above the EMA50. Support is seen near a  vertical down ward trend line and resistance level  at $49.03, while resistance is seen near a EMA200  level at $51.94. Expected trading range for today $49.03 support level and $51.94 resistance level. On an intra day basis, we expect the positive momentum to continue the short term bearish trend. On the upside resistance level at $50.11, if market break this resistance level upside breakout is expected with potential target of $51.54

Technical- Levels

	R2	R1	S1	S2
Gold	1186	1171	1159	1149
SILVER	16.24	16.11	15.73	15.52
CRUDE OIL	53.17	51.14	47.45	45.67
COPPER	2.4693	2.4419	2.3863	2.3507
NATURAL GAS	2.614	2.564	2.492	2.453
PLATINUM	1003	996	976	965
PALLADIUM	742	721	700	683

Five Points which can drive markets early this week

The market hasn't made any big moves so far but a few are beginning to brew

1. Yen strength
2. GBP strength
3. Oil weakness
4. Bonds bid
5. China worries, China stimulus

The market hasn't made any big moves so far but a few are beginning to brew:
1. Yen strength
This is all about negative sentiment in stocks. USD/JPY is down 27 pips. The Nikkei finished the morning session down 1.14%, Shanghai stocks are down 0.54% and S&P 500 futures are down 0.4%. Earlier I wrote about why stock markets could fall early this week.

2. GBP strength
The pound is keeping pace with the yen, up about 20 pips. But let's put that into perspective; since the high on September 18, cable has been in a 6 day, nearly 500 pips swoon. A 20 pip bounce doesn't even qualify as a dead cat bounce. I highlighted some levels earlier.

3. Oil weakness
All else being equal, sell oil. Crude is down about 1%. Rig count numbers on Friday were bullish but a small bounce was wiped out quickly. Earlier last week, inventory numbers were bullish but a bounce was wiped out within hours and oil finished way down. At some point this year, oil storage capacity will max out and it will be dumped onto the market at any price.

4. Bonds bid
Bonds are catching a small bid, pushing 10-year US yields down 2 bps in early trading. There was talk of a China bid but it's also part of the risk aversion theme.

5. China worries, China stimulus
Two stories out of China early this week. The first is a plunge in industrial profits (negative) but the second is about fresh stimulus (potentially very positive). The second story hasn't gotten much traction yet but I think it could.


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FOREX-Dollar edges lower ahead of this week's payrolls, China survey

• 
  
  
  
  
  
  USD May Consolidate Before Pushing Higher
• USDJPY 120.32 with a general USD+ sentiment so far as Europe gets underway.
• USD/JPY is poised for a big break USD/JPY finished last week strong with a 75 pip rally in the final six hours of trading.
• European Factors to Watch-Futures fall, Spain in focus after Catalan result.
• FOREX-Dollar edges lower ahead of this week's payrolls, China survey
• EM ASIA FX-Baht, peso edge higher; ringgit slips
• Oil prices fall on slowing global economic growth outlook
• Japan leading index CI July final 105.0 vs 104.9 prev
• Option expiries 10am NY cut today 28 Sept
• Report: China expected to unveil new growth measures. More rate cuts coming
• Chinese August industrial profits -8.8% y/y vs -2.9% prior
• Eurostoxx 50 futures down 1.2% in early European trading

• Softer sentiment as Europe gets underway

DAX futures -1.2%

CAC40 -1.0%

FTSE -0.7%

Bund futures up 28 at 155.71

Nikkei 225 closes down -1.32% at 17,645.11

• A steady session after early dip

-235.40

open 17811.12

high 17886.49

low 17562.80

USDJPY 120.26

Australia's S&P/ASX200 closes up +1.24% at 5104.60

• Switzerland opens investigation of precious metals manipulation

-those banks include UBS, Deutsche, Julius Baer, HSBC, Barclays, Morgan Stanley, Mitsui

suspicion relates to possible co-ordination of prices, namely bid/ask spreads

expects resolution in probe some time in 2016/2017

• Mr Yawnfest speaking in Osaka and delivering the same old drivel price trend is improving

1. will adjust policy if there are changes in price trend
2. sees reaching 2% price target in around H1 2016
3. further momentum needed to achieve 2% target
4. BOJ easing is exerting intended effect
5. rehang 2% target could come earlier or later depending on oil price

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Global stocks mostly lower. Investors await Yellen's speech for fresh clues on the Fed’s plan to raise rates

Stocks pared morning losses, but still ended moderately lower ahead of Yellen's speech:

U.S. stocks dropped but pared their steepest intraday declines, as worries over slowing global growth lingered.

Dollardips before Yellenspeech-Thursday's markets news so far

Dow futures were briefly down more than 150 points, while S&P 500 and Nasdaq futures also traded lower.

Treasury yields held lower, with the 2-year yield at 0.68 percent and the 10-year yield at 2.10 percent.
The U.S. dollar traded lower against major world currencies, with the euro at $1.125 and the yen at 119.4 yen against the greenback.

Stocks remain stuck in low gear following a late-August selloff, and last week’s decision by the Federal Reserve to keep rates near zero affirmed investors’ fears that growth had hit a rough patch.

The S&P 500 lost 6.52, or 0.3%, to 1932.24, while the Nasdaq Composite shed 18.27, or 0.4%, to 4734.48.

Bond prices rose, sending the yield on the 10-year Treasury note falling to 2.125% from 2.144% Wednesday.

U.S. stocks have generated wide swings in recent sessions since a late-August slide sent major indexes into “correction” territory, which is marked by a decline of 10% or more from a recent peak.

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AUD/USD continued its fall and hit the round number

AUD/USD continued its fall and hit the round number. It actually dipped below the 70 cent number, but the break is far from being confirmed.

Will it be carried lower by global gloom or can it recover?

This is basically an extension of the fall seen yesterday, that was triggered by the weak Chinese data. The independent Caixin manufacturing PMI for September deteriorated to a new low: 47 points, the lowest since the crisis.

In Australia we didn’t have much to trigger this. Yesterday’s CB Leading Index came out at +0.3% and the next piece of meaningful news comes only next week. Nevertheless, weakness in commodity prices and commodity currencies is affecting the Aussie.

The fall so far only reached 0.6988. A confirmation is still awaited. The next level on the downside is the round 0.69. A lot depends on the global mood.

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Gold inches higher, but struggles to shine

Technical - Levels

	R2	R1	S1	S2
Gold	1148	1130	1109	1097
SILVER	14.96	14.75	14.44	14.23
CRUDE OIL	47.12	45.93	43.82	42.11
COPPER	2.436	2.410	2.372	2.308
NATURAL GAS	2.712	2.693	2.635	2.612
PLATINUM	1035	1002	977	967
PALLADIUM	1014	591	568	558

Overview :

Gold futures traded modestly higher Tuesday as investors looked ahead to the Federal Reserves’s policy meeting next week, which could determine the direction of the dollar and dollar-denominated commodities like gold.

Gold for December delivery was marginally higher, gaining $1, or about 0.1%, at $1,122.10 an ounce, after swinging between small gains and losses in early Tuesday action.

The precious metal has been down nine of that past 11 sessions and hasn’t drawn much of a bid in recent weeks on the expectation that the Fed may raise interest rates for the first time since 2006. Interest-bearing assets like Treasurys have diminished the appeal of gold, which doesn’t bear any interest, while anticipation of a near-term rate increase has dulled expectations for gold.

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GBPUSD Is Bullish | Free Forex Signals | Currency Trading

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Today we are sharing GBPUSD Currency Trading Signals.  

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RECOMMENDATION :  BUY                                                     

TARGET 1.5800

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SUMMARY:

The secondary trend of GBPUSD is sideways on charts. In its daily chart, the pair is consolidating with strong positive bias to give break out at upside. Its 30 and 200 DMA are also supporting the further uptrend in the prices. If it breaks the level of 1.5730 & sustains above it then we can expect it to come up to the levels of 1.5770/1.5800  in next few days.

GBPUSD Chart Today

INDICATORS:-

RSI - Prices are sustaining in buying teritorry, supporting the upside movement in the market.
MACD is also sustaining above the zero line indicating the upside movement in the market.

STRATEGY: 

GBPUSD is looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.



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EUR/GBP Is Bullish For Next Few Sessions | Free Forex Signals | Currency Trading

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Today we are sharing EUR/GBP Currency Trading Signals.  

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RECOMMENDATION : BUY

TARGET : 0.7170

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EURGBP ( 4 HOURLY )

EUR/GBP CHART TODAY

SUMMARY:

The secondary trend of EURGBP is sideways on charts. In its 4 hourly chart, the pair is  sustaining below its falling trend line and consolidating with strong positive  bias to give break out at upside. Its 30 and 200 DMA are also providing support to the upside movement in the prices. If it crosses its resistance level of 0.7100 then we can expect it to come up to the levels of 0.7140/0.7170  in next few days.

INDICATORS:

RSI - Prices are sustaining in buying teritorry, supporting the up side movement in the market.

MACD line is also sustaining above the zero line indicating the upside movement in the market.

STRATEGY: 

EURGBP is looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

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USD/JPY Looking Bullish | Free Forex Signals | Currency Trading

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Today we are sharing USD/JPY Currency Trading Signals. 

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SUMMARY:

The primary trend of USDJPY is bullish on charts and from past few trading sessions, the pair is successfully sustaining at higher levels. In its 4 hourly chart, the pair is consolidating with strong positive bias to continue its up rally. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 124.62. If it breaks its resistance level at upside then we can expect it to test the level of 125/125.40.

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USDJPY ( 4 HOURLY )

USD/JPY Chart Today

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. 
MACD line is sustaining in buying territory supporting the upcoming bullish trend in the pair.

STRATEGY: 

USDJPY is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.


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USDCHF Is Buliish On Charts | Free Forex Signals | Currency Tradng

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Today we are sharing EUR/USD Currency Trading Signals. 

Daily Forex Signals

SUMMARY:

The primary trend of USDCHF is bullish on charts and from past few trading sessions, the pair is successfully sustaining at higher levels. In its hourly chart, the pair is consolidating with strong positive bias to continue its up rally. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 0.9635. If it breaks its resistance level at upside then we can expect it to test the level of 0.9680/0.9715.

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USDCHF ( HOURLY ) :

USDCHF Chart Today

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. 
MACD line is sustaining in buying territory supporting the upcoming bullish trend in the pair.

STRATEGY: 

USDCHF is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.



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