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"Mitsubishi UFJ: reasons to buy euro" (2011-01-13) The single currency was declining versus the greenback during the major part of the Asian trade before it bounced from the intraday minimum at 1.3088 to the 1.3140 area. Dealers at Mitsubishi UFJ Trust and Banking claim that possible reason to buy euro may be as The Irish Times newspaper says citing unspecified source that EU ministers are to discuss next week the possibility of lowering the 5.7% interest rate on Irish bailout loans. In addition, the specialists point at the fact that investors’ optimism about today’s Spanish and Italian bond auctions seems to get stronger as Portugal's auction that took place on Wednesday turned out to be rather successful. According to the strategists at Chuo Mitsui Trust and Banking, the pair EUR/USD may climb today to 1.3150. Chart. H1 EUR/USD

"Christopher Pissarides: euro's future depends on Spain" (2011-01-12) Nobel laureate Christopher Pissarides claims that the European Union doesn’t have enough financial resources to help Spain in case the nation follows Greek pattern and collapses. The single currency, in its turn, won’t be able to survive such outcome. In his view, stronger European nations, Germany in particular, won’t be able or want to accumulate provide Spain with bailout. As a result, policymakers may need to seek a more fundamental solution, such as Spain temporarily reverting to the peseta. Pissarides won Nobel Prize in economics in 2010 for research into the difficulties of matching supply and demand, particularly in the labor market sharing the award with Dale Mortensen and Peter Diamond. Spain plans to auction debt tomorrow selling bonds that due in 2016. The country plans to draw 3 billion euro of financing.

"Commerzbank: USD/JPY will rise to 84.41/51" (2011-01-12) US dollar climbed versus Japanese yen from minimum at 80.90 to the 83.00 area where the rate began consolidating. Technical analysts at Commerzbank are looking forward to the further advance of American currency. In their view, the greenback has enough strength to rise to the 84.41/51 area of December maximums. The specialists note that if dollar declines the pair USD/JPY will find support at 82.65/28. Chart. H4 USD/JPY

"Commerzbank: pound under pressure below 1.5627/80" (2011-01-12) Technical analysts at Commerzbank note that the pair GBP/USD keeps trading sideways within a tight range. In their view, British pound will remain under pressure until it finds itself below 1.5627/80 versus the greenback. The 1.5627/80 zone represents the October minimum, the end of December peak and the 2-month downtrend. According to the bank, sterling may fall to 1.5265/1.5345, the September and December minimums and the 50% retracement of the move in 2010. Chart. H1 GBP/USD

"Dollar usage as funding currency may contract" (2011-01-12) More and more analysts begin doubting in the carry trade that implies borrowing in the currencies of countries with low interest rates and investing in ones with higher yields. More precisely traders are likely to refuse form the greenback as a funding currency. According to the index provided by UBS, in 2010 this strategy caused its followers 2.5% loss. It happened as US dollar often used for financing the trades strengthened – the Dollar Index gained 4.5% from its 12-month minimum hit on November 4. Just to compare – in 2008 American currency declined only by 0.98% after the collapse of Lehman Brothers Holdings Inc. Analysts at Credit Agricole CIB note that the United States seems to be much better than other economies. Apart from the nation’s economic growth dollar will gain upward momentum from rising bond yields and falling demand for the greenback as a funding currency. Although stronger currency will pose a threat for American exporters, it’s important for US monetary authorities as it encourages foreign investors to buy the debt that finances the country’s $1.3 trillion budget deficit.

"US dollar will strengthen in 2011" (2011-01-10) Some analysts whose forecasts were the most accurate by the results second half of 2010 believe that the greenback will be the best performer this year as the Federal Reserve’s quantitative easing will stimulate the US economy. According to the economists surveyed by Bloomberg, in 2011 American economy will expand by 2.6%, European – by 1.5%, Japan’s – by 1.3% and Britain’s – by 2%. The investors seem to refocus their attention from the Fed’s plan to print cash to buy $600 billion of Treasuries to the euro zone’s debt crisis, deflation in Japan and UK austerity programs. Wells Fargo & Co., Bank of Tokyo-Mitsubishi UFJ Ltd. and SJS Markets Ltd. expect US currency to gain versus euro, yen and pound. Specialists at Wells Fargo are looking forward to 5% advance of dollars rate against the single currency and 11% versus yen. In their view, the greenback will be supported by rising interest rates on US bonds. Post your comments here http://www.fbs.com/analytics/news_markets/view/5605

"BNP Paribas expect USD/CHF to decline" (2011-01-10) Currency strategists at BNP Paribas note that last week the greenback made one of its biggest weekly advances versus Swiss franc of the past year. As a result, there was a weekly bullish snap-back reversal signal, while weekly momentum gained on the bullish weekly divergence. According to the bank, it’s quite likely that 0.9306 will be the major base for the rate. If the pair USD/CHF breaks above resistance at 0.9735 and 0.9915, it will get strengths to rise to 1.0230 and possibly 1.0625 Chart. H4 USD/CHF Post your comments here http://www.fbs.com/analytics/news_markets/view/5604

"Mizuho: USD/JPY range in the 1st quarter – 80-85 yen" (2011-01-10) Technical analysts at Mizuho Corporate Bank note that the greenback hovers at a very thin daily Ichimoku Cloud trading versus Japanese yen and the small “spike high” formed on Friday ahead of trend line resistance underlines instability at current levels. According to the bank, it’s necessary to enter small shorts at 83.13/83.40 stopping above 83.75. The greenback’s going to decline to 82.50/82.35 and then to 81.50. The specialists believe that the pair USD/JPY will fluctuate sideways staying in range between 80.00 and 85.00 during the entire January and maybe the whole first quarter of the year. Chart. Daily USD/JPY Post comment here http://www.fbs.com/analytics/news_markets/view/5602

"Commerzbank: in the first quarter euro will fall to $1.20" (2011-01-10) The single currency fell last week breaking down through the 200-day MA and the 6-month uptrend support line. Technical analysts at Commerzbank project that the pair EUR/USD will face strong negative pressure. The specialists also note that the European currency has so far broken below the “symmetrical triangle” formation. As a result, the power of bears increased. According to Commerzbank, euro will weaken to 1.2000 in the first quarter of 2011. If it attempts to advance, resistance levels will be found at 1.3020/74 and 1.3165. Chart. Daily EUR/CHF Post comments here http://www.fbs.com/analytics/news_markets/view/5600

"SEB: EUR/USD will fall to 1.2710" (2011-01-10) Analysts at SE Banken claim that last week the trade ended very bearish for the pair EUR/USD. The specialists note that there was a downside key-week reversal and a “bearish engulfing” pattern that confirmed that fact that the downtrend resumed. In their view, any advance from Monday's minimum at 1.2860 will be corrective and will bring the rate in the near future to the new minimums in the 1.2710 zone. Currency strategists at Commerzbank also believe that in the coming weeks the single currency will remain under pressure as the euro zone debt crisis is likely to worsen. The economists mentioned the events in the indebted Belgium where there’s no political leader due to the government crisis that lasts already a month. While the greenback has overcome the impact of the discouraging economic data, euro is affected from several directions. Chart. H4 EUR/USD post comment here http://www.fbs.com/analytics/news_markets/view/5597

"Ichimoku. Weekly forecast. USD/JPY" (2011-01-10) Weekly USD/JPY The pair USD/JPY ended last week rather positively. The long white candle broke above the horizontal Turning line (3) and the prices found themselves inside the sideways channel Tenkan-Kijun (3, 4). The Preceding lines (1, 2) also turned sideways. It’s possible to suppose that this week the bulls will also outrun the bearish players that will lead to the further rebound of the prices to the Standard line (4). Chart. Weekly USD/JPY Daily USD/JPY On the daily chart, as it was expected, the market made a rather sharp correction upwards even breaking through the Ichimoku Cloud. In other words, the resistances of all 4 lines didn’t manage to withstand. As a result, the rebound may continue, especially taking into account Senkou Span A (1) that headed upwards. However, there was a “hangman” formed on the candle chart that was confirmed on Friday by the black “falling star” pattern. Such combination of the candle models may indicate reversal, so the prices may begin declining at the beginning of this week. Chart. Daily USD/JPY Post comments here http://www.fbs.com/analytics/news_markets/view/5591

"Ichimoku. Weekly forecast. GBP/USD" (2011-01-10) Weekly GBP/USD The first trading week on the GBP/USD market finished uncertainly. There was a “high wave” with small black body formed on the candle chart. All trade, however, was inside the Ichimoku Cloud and no attempt to break through its upper border was a success. In addition, the Standard line (4) also created resistance at this level turning horizontally. It’s necessary to note that the uptrend seems to be still actual as the Ichimoku Cloud is positive and the “golden cross” (5) formed by Tenkan-sen and Kijun-sen keeps supporting the bulls. Chart. Weekly GBP/USD Daily GBP/USD On the daily chart the trade was sideways inside Tenkan-Kijun channel (3, 4). The horizontal Kijun-sen also provided some resistance to the prices’ growth. Never the less, the Turning line (3) turned out to be equally strong and managed to hold the bearish pressure during the whole week that on Friday has to reiterate due to Bernanke’s speech. The downtrend on this timeframe, however, is still in place: the Ichimoku Cloud is descending and the “dead cross” (5) formed in November protects sellers. As a result, it’s most likely that the rate’s dec lining will resume this week. Chart. Daily GBP/USD

The winners of “999” about the contest, trading, success! “999” Demo contest by FBS ended in late December. We decided to get acquainted with the winners and ask them to share their impressions of the contest with us, tell us about their trading and give some good advice to beginners. Vladimir Dybovsky (Russia), the overall winner of “999” contest: FBS: Vladimir, how long have you been trading? How did you start exchange trading? VD: I learned about Forex by chance wandering in the Internet about 3 years ago. I started reading a little and trading a little. I’ve been training regularly about 1 year, mostly participating in contests. FBS: What currency pairs do you prefer? Why? VD: Mostly I trade GBP/USD. It’s not so boring as EUR/USD, and spread is not so large. It’s important when you trade at short distances you manage to understand charts better. In fact, I had no time to get acquainted with exotic currency pairs. FBS: Please, tell us about your impressions of “999” Contest? VD: Right from the start I liked “999” Contest for its originality. And although my start was not very successful, I kept on playing just for my workout without looking at the table until my profit reached about two hundred thousand. And when I checked the list of the contestants I was already in the lead. Perhaps that was the right approach – to work without being distracted. FBS: What trading strategy were you following while participating in the contest? What helped you to take decisions? VD: In Forex trading I follow sport style. You need to monitor dynamics of a process and estimate possible risks correctly. It’s like in racing. I’ll try to formalize it later. FBS: In your opinion, what qualities should have a trader to be successful in Forex? VD: At first, you need to learn the material to understand what is happening. And then, like in sport, there should be purposeful training. If you want to be successful in sport trading you need to have quick and, of course, right reaction and psychological stability. FBS: What would you advise to beginners in trading? VD: Learn, practice, don’t be upset of your failures. You need to have the right approach in all the activities. Farid Mulyukov (Russia), the second place winner of “999” Contest: FBS: Farid, how long have you been trading? How did you start exchange trading? FM: I started trading as an amateur not long ago. FBS: What currency pairs do you prefer? Why? FM: I prefer currency pairs with much or less predictable trends, currency of those countries, whose economy is trustworthy in the very period of time. FBS: Please, tell us about your impressions of “999” Contest? FM: “999”Contest is an exciting competition with wide geography of participants and transparency of results. FBS: What trading strategy were you following while participating in the contest? What helped you to take decisions? FM: My strategy was not too difficult: to avoid a big gap from the leaders on the first ten days of the competition, eliminate a handicap, and then monitor the results in the list of contestants. FBS: In your opinion, what qualities should have a trader to be successful in Forex? FM: The trader should have his own opinion on all the events in the market. FBS: What would you advise to beginners in trading? FM: You need to master the basics of trading and then start to trade and, if it is necessary, do the daily corrections, that is to analyze the mistakes. Khadijeh Fazlullahi (Iran), the third place winner of “999” Contest: FBS: Khadijeh, how long have you been trading? How did you start exchange trading? KF: I have been trading in the market for three years. I became a trader by chance – I just came across the article about Forex in the Internet. FBS: What currency pairs do you prefer? Why? KF: I have no particular preference in currency pairs. The main thing for me is low spread. FBS: Please, tell us about your impressions of “999” Contest? KF: Impressions are positive. Thank you for this wonderful contest! FBS: What trading strategy were you following while participating in the contest? What helped you to take decisions? KF: This is my personal technical strategy. Let me keep it a secret. FBS: In your opinion, what qualities should have a trader to be successful in Forex? KF: It is a difficult question… FBS: What would you advise to beginners in trading? KF: First of all I recommend to be disciplined. In my opinion, trading discipline is the most important thing. Yan Chenghuai (China), the forth place winner of “999” Contest: Click here to see image FBS: Yan, how long have you been trading? How did you start exchange trading? Y.Ch.: I’ve been trading for three years. I got in Forex by chance. FBS: What currency pairs do you prefer? Why? Y.Ch.: I prefer Euro-pairs. The trading with these pairs is more interesting and dynamic. FBS: Please, tell us about your impressions of “999” Contest? Y.Ch.: I liked the contest. But I would like much more people to participate in this contest FBS: What trading strategy were you following while participating in the contest? What helped you to take decisions? Y.Ch.: During the contest my trade was very stable. I was trying to get in the top three, but, unfortunately, there was not so much luck for me. FBS: In your opinion, what qualities should have a trader to be successful in Forex? Y.Ch.: A trader should be calm. Success in trading comes only to people with “cold mind”. Andrew Gutorov (Lithuania), the fifth place winner of “999” Contest: Click here to see image FBS: Andrew, how long have you been trading? How did you start exchange trading? AG: First I learned about Forex in 2000. I was working in Ireland that time, my salary was quite high and I wanted to invest money somewhere. Since then a lot things has happened, a lot of Irish beer has been drunk, not that only Irish, and not only beer. I tried great number of strategies, different ways of money management. Sometimes I earned, sometimes I lost money, sometimes I took significant (up to six month) breaks in trading due to some technical or financial reasons. I can’t call me a professional, but my knowledge is huge, my experience is much larger. FBS: What currency pairs do you prefer? Why? AG: For more than 10 years I’ve tried, probably, all the pairs. Now I use 4 of them: EUR/USD, USD/JPY, USD/CAD and GBP/JPY. When you constantly follow some pairs, you get used to them and start “feeling” their behavior, their mood. FBS: Please, tell us about your impressions of “999” Contest? AG: It was the first contest in which I’ve ever participated. I don’t know why. I’ve never participated before for two reasons: firstly, when there are hundreds or even a thousand of participants, and there are only 3 prizes, you understand that it is unreal to win. Secondly, in my opinion, trading is more individual sport, where you don't need rivals and you compete with yourself first of all: you compete with your own fears, greed, impatience and other negative qualities. One can say that trading makes us better. If we are talking about the contest it was funny that not only people from Russia, Ukraine and other former USSR countries, but also from Asian countries are among the contestants. These people have another psychology, mentality and school of trading. Well, I really didn’t expect that I would take the fifth place in the contest. I was pleasantly surprised. To tell the truth, before the contest I aimed to be in the top hundred. FBS: What trading strategy were you following while participating in the contest? What helped you to take decisions? AG: At the beginning I tried to work carefully like in a real account. Main thing is not to lose funds. Little profit is better than a small loss. And, of course, I followed the list of contestants all the time: it was interesting what the gap was between me and the leaders. Then I started to risk my money when I realized that I can be in the top ten. There was even a possibility to be the third place winner, but last days were unsuccessful for my transactions. My decisions were based on indicators, levels of sup-resistance. Sometimes they were based even on intuition. FBS: In your opinion, what qualities should have a trader to be successful in Forex? AG: First of all, you need to have DISCIPLINE! There will be no success without hard discipline. But on the other hand, you totally need to be able to improvise. Force majeure situations often happen in the market, one even can say, that Forex is one constant force majeure situation (laughing). And it happens that decisions must be taken quickly, very quickly. Certainly, you need to know before what you are going to do with those or other further developments, but sometimes you have to improvise during your trading. I thing, that every trader is an artist a little. That’s why it is quite impossible to trade without improvisation. FBS: What would you advise to beginners in trading? AG: You need patience, patience and again patience. And, of course, discipline. And don’t think that you will immediately become a millionaire. It is a hard, exhausted work, but not a constant holiday. You should never rest during your trading. But any man can do what another man has done. Therefore, you should try to trade; also you should control your risks in the process. And don’t deposit more funds than you may afford to spend. If you don’t want to be painfully hurt (laughing). The best teacher is a real account… but sometimes it takes too much for its lessons. Stay connected with FBS next round of “999” demo contest will start in January, 2011.

FBS offers a new bonus program “25% deposit bonus”. Every time you deposit your account, you get 25% FREE bonus! More funds, more trading, more fun! Promotion rules Bonus is deposited automatically into accounts which were deposited via e-currencies. If you deposited your account by bank wire, please contact our Customer Support Department. No partner’s commission is paid for bonus funds trading The bonus cannot be added to internal transfer deposits and to deposits by contests/promotions, etc. The bonus can be withdrawn after the total volume of orders in an account reaches bonus size divided by 3 (rounded to the larger number). In case the account had several bonuses, this volume sums up. E.g. your deposit was 1000 USD. Your bonus will be 250 USD. The total volume must be 250/3 = 84 lots. The bonus can become withdrawable ONLY if by the moment of lots calculation it is still in the account. If the necessary volume reaches required number, but the bonus is already cancelled, it will not be added or compensated. In case the amount of your own funds becomes less than the bonus size – the bonus will be cancelled. In case trader’s own funds are withdrawn after the bonus added, the bonus will be cancelled. In case the account balance falls below zero, the company compensates the account balance to zero. Every client can have ONLY ONE bonus account of each type. In case several accounts of one type are found belonging to one person (or if such suspicions arise, including IP address match, contact info match, etc), all the bonuses will be cancelled. Profit from trading on a bonus account can be withdrawn anytime. Maximum bonus size is 10 000 USD (or 10 000 EUR for EUR accounts) Bonus funds are not included into the balance during StopOut calculation. This means that in case an order reaches StopOut level, bonus will not be considered in this calculation. Notes: FBS reserves a right to change or modify the promotion rules, stop the promotion or any of its parts anytime without prior notification. We will post such changes in our “Company news” section Any arguable situation not listed in these rules will be the subject to the decision of FBS. Any decision taken by FBS will be considered final and mandatory for all the parties. FBS reserves a right to decline client’s bonus application without explaining the reason FBS reserves a right to cancel client’s bonus without explaining the reason The English version of these rules should be considered prevailing over any other language versions.

"Societe Generale: euro will outpace dollar in 2011" (2011-01-07) Analysts at Societe Generale SA shared their views on the 2011 currency outlook. US economy is not so close to the recession as it was, so currency wars won’t be as intense this year as they were in 2010. US lawmakers will certainly keep putting pressure on China, but as the situation in the US normalized the tensions will probably ease. Societe Generale strategists note that yuan isn’t undervalued too much. According to them, the biggest concern now is China’s inflation problem. If Chinese monetary authorities are successful in tackling inflation, then China can grow strongly, have a stronger currency and be able to raise rates. It would be better for China to try to appreciate yuan in the first half of the year, believes SocGen. The specialists forecast that in 2011 euro’s going to outperform its American counterpart. The United States are deliberately keeping policy accommodative and the currency weak. The European sovereign credit crisis will come back, probably even in January, but if euro survives, it’ll eventually get stronger. Societe Generale expects the pair EUR/USD to trade at 1.25 in 1-2 month time and end the year at 1.40. The strategists note that during the last few weeks we could see the enormous number of bearish euro bets at the market. Most people think this would be a good year for the dollar, but Societe Generale supposes that US currency will go down for the most of the year as the Fed’s going to stay keen on the monetary stimulus. Chart. Daily EUR/USD comments here http://www.fbs.com/analytics/news_markets/view/5572

Australian dollar’s going to show the first weekly decline versus its US counterpart since December 10 as the record rainfall on the continent caused the floods cover an area the size of France and Germany affecting coal mine and rail operations. Analysts at Nomura Holdings Inc. note that flooding will cost the country a lot – 0.4% of GDP. UBS AG forecasts that if heavy rains and flooding continues in February, Queensland coal exports may drop by 30 million metric tons. Australia is the world’s biggest coal exporter when supplies of coking coal to make steel and thermal coal to generate power are combined. The loss in shipments may cost A$6 billion. Specialists at Barclays Capital underline that alternative suppliers of the affected commodities may benefit from the increased demand and higher prices. As a result, Barclays recommends being short on AUD/CAD. Chart. H4 AUD/USD comments here http://www.fbs.com/analytics/news_markets/view/5571

"Barclays Capital: EUR/CHF keeps falling to 1.2150" (2011-01-07) Analysts at Barclays Capital claim that the single currency keeps trading within 2-month downtrend versus Swiss franc. In their view, the pair EUR/CHF still aims to fall down to the Fibonacci extension target at 1.2150. The specialists note that support level at 1.24 is likely to hold the initial bearish attack and give ground for a temporary bounce. Never the less, the general bias is negative and any break below this level increases the risk of euro’s slump to the aforementioned target. Chart. Daily EUR/CHF Comment here http://www.fbs.com/analytics/news_markets/view/5569

European currency fell to 3-month minimum versus US dollar ahead of Italian, Portuguese and Spanish bond auctions next week. Analysts at ANZ National Bank Ltd. note that the prospects of Portugal and Spain to repay their debts seem to be in the centre of market’s attention. In their view, the pair EUR/USD is moving down towards the $1.2950 zone. The situation in Europe keeps being difficult – the estimates of BNP Paribas SA show that Spain and Italy together need to raise 317 billion euro. Borrowing costs for Portugal jumped up on 6-month bill sale for 500 million euro on January 5 with 3.686% yield. All in all, Portugal intends to sell 20 billion euro in bonds to finance its budget. Analysts at Deutsche Bank AG note that it’s no longer certain that the single currency will manage to survive euro zone’s debt crisis in its present form. The specialists warn that European Union policymakers have to move faster to reform the euro region to avoid its falling into another crisis. Chart. H4 EUR/USD

"ABN Amro Bank: slight gold’s correction" (2011-01-07) Analysts at ABN Amro Bank NV suppose that gold denominated in euro will perform better this year than the one priced in US dollars. In 2010 gold in euro added 39% while in dollar terms the advance was equal to 30%. While both are in a short-term correction phase on the recent improving US labor market data, gold in euro tends to be more steady in case of the negative factorss and is likely to advance faster once the upside momentum regains strength. Gold priced in dollars is forming a big rounding-top – a slowdown of an uptrend that eventually turns into a downtrend, touching its 16-week MA. The metal denominated in euro, on the other hand, is not forming any big top yet and is trading “well above” the 16-week MA that means that prices may increase more. According to the bank, in general gold’s correction won’t take long and the upswing momentum may come back already in the middle of February. Comment here http://www.fbs.com/analytics/news_markets/view/5564

Currency strategists at Barclays note that the downside correction of the pair USD/JPY has finished, so any decline to the 82.90/83.10 zone should be regarded as a good chance to buy the greenback. US dollar’s bounce from support at 80.95 also shows that investors should be looking forward to further advance of the pair. The specialists expect that US currency will climb at least to 85.25 yen. Chart. H1 USD/JPY Post comments here Barclays: dollar may fall to 85.25 yen

"Commerzbank: euro may fall to $1.20" (2011-01-07) Technical analysts at Commerzbank note that the single currency slumped versus the greenback this week. The specialists note that the pair EUR/USD broke down below the symmetrical triangle pattern testing the 200-day MA and November's minimum at 1.2970. As a result, the possibility of euro’s decline to 1.2000 has significantly increased. According to Commerzbank, the next downside target for the pair is found at 1.2795 (61.8% retracement of the move seen in the second half of 2010). Chart. Daily EUR/USD

"RBC: forecast for NZD/USD" (2011-01-06) Currency strategists at RBC Capital Markets note that New Zealand’s dollar keeps weakening versus US dollar. In their view, it happens due to the general strength of American currency. The specialists say that investors are going to take profits in all the positions that showed such good results during the holidays and at the end of 2010. According to RBC, now it’s necessary to focus at US non-farm payrolls due on Friday as the analysts are hurrying to increase their estimates for the jobs data after the Automated Data Payroll surged above forecasts adding 297K in December while the economists were looking forward only to 101K advance. Taking into account the recent dynamics of the rate there’s the risk of US dollar’s decline. Initial support is at 0.7540, while the resistance level is found at 0.7600. Chart. H1 NZD/USD Comment here http://www.fbs.com/analytics/news_markets/view/5535

"Commerzbank: USD/CHF may rise to 1.0067" (2011-01-06) Technical analysts at Commerzbank note that the greenback keeps rebounding from 15-year support line trading versus Swiss franc. USD/CHF climbed to the 0.9684 representing 50% retracement of December decline. According to the specialists, some intraday consolidation seems to be quite likely. Commerzbank sets the target of the pair at 0.9747/74 and above it at 0.9875/0.9905 on the way to December maximum at 1.0067. Analysts at UBS note that they’ll remain cautious until the release of the actual payrolls and the speech of Fed’s Chairman Ben Bernanke on Friday. The strategists draw investors’ attention to the weekly jobless claims that are due today. In their view, dollar may find further support in case fewer than 400K claims are reported. Chart. H4 USD/CHF

We sincerely congratulate “999” contest winners! Dear traders! FBS “999” demo contest has finished in the end of December. And today, in the new year 2011 we are happy to announce its results. All the “999” demo contest participants have shown themselves as ultimate traders, fearless investors and strong competitors. The contest was indeed dynamic. There was a real battle between almost 600 contestants who took part in “999”. Almost everyday the contest table had dramatic changes. And the traders showed their trading skills and their will to win. So here are the results: The glorious 539th place is taken by a contestant from Iran with contest account number 144812. And we grant him with a free FBS Mastercard. The 3rd place and 111 USD prize is given to a contestant from Iran with contest account number 145579. He reached contest account balance of 39532.38 USD. The 2nd place is taken by a contestant from Russia, account number 144708, whose contest account balance was 91143.74 USD. His prize is 333 USD. And finally the winner is… a contestant from Russia, account number 143879. His contest account balance by the end of the contest reached 236740.18 USD. His 1st prize is 555 USD. We here in FBS are sure that in the new year 2011 all the dreams must come true. That is why we decided to award the contestants with positions 4th to 10th with some prizes as well. Each of them will get 50 USD into his/her real account. All the prizes are withdrawable. We would like to express our gratitude to all the traders who took part in “999”. Even if you didn’t manage to achieve desired results, we are sure you will manage it in one of our next contests. The next round of “999” demo contest will start in January, 2011. Stay tuned for the news!

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