Tag : FX Market

Final Results Forex Competition!!

Posted by Mulder Venture at 12:28 pm

Our Forex Competition has finally come to a end giving every trader the opportunity to give it it’s best shot for the past two months to make it to the podium.

Although the podium seemed to have taken it’s definitive shape earlier this month we do have some major changes in the Top-10 due to high volatility in the FX Market lately.

so without further a due…

The winners are,…

1 One Boomi form Qatar (241,12%)
2 Radomir Janiga form Slovakia (197,29%)
3 Luca Tono form Italy (150,98%)
4 Janusz Nowacki form Canada (150,46%)
5 Hennie Jansen of Lorkeers form the Netherlands (137,22%)
6 Hennie Jansen of Lorkeers form the Netherlands (87,69%)*
7 Jim Williamson form the United States (48,83%)
8 Frederick Loresco form Canada (31,34%)
9 Aurelijus Stonys from Lithuania (20,27%)
10 Giuseppe Giulani from Italy (18,91%)
11Victor Gerardo from Portugal (16,51%)

Thank you all for participating in out Forex Competition.

Congratulations to all the traders making it into the Top-10 of our competition, we are truly impressed by some of the performances made.

If you have made it into the Top-10(only above 20%) please contact us by email and we will inform you how to collect your award/prize.

*due to the fact that only 1 account is allowed in the top-10 we put the 11 best performers on display

The table below gives a overview on the final ranking of the Mulder Forex Competition. (June 1)

If you have  joined our competition and are not being able to spot your name in the FX Ranking Table please send us a email stating your name/account number and you will be added instantly.

If you have any questions regarding the Forex Competition or concerning current rankings please send us a email

Mulder FX Update!

Posted by Byung Koo at 12:23 pm

Dear clients and FX traders,

lately no new posts on the website. We work last weeks very hard to build a new website. Better, faster, new features, more information and easier to navigate.

Only this takes a lot of time, so we think begin July everything is working and LIVE!

Questions? Feel free to ask you general questions, trade tips, Mulder FX Managed FX Accounts to info@mulderventure.com

Enjoy FX trading and WK2010!!

Mulder FX Update II

Posted by Byung Koo at 9:14 pm

NEWS Alert:

Dear clients,

We’re heading to our first negative performance month-on-month! And immediately to a big drop. May isn’t over yet and also the markets are extremely, extremely volatile but out of the woods, won’t happen.

Right now our performance dropped -26% and of course depends on when your startdate is, it could be higher.

I don’t expected that the U.S dollar rally against all other major currencies. Only with tight money management in the past we could hold this current positions. A further rally in the U.S dollar before a correction won’t help our performance. We need a revovery in EUR, GBP, AUD and some other currencies.

So clients are don’t take any open postions more, because the have a margin call of 3.5% or below. We don’t want to hit the margin call of 1%.

These volatile times gives also us a insight of what kind of movements FX could have.
Account Balance will change very rapidly, mostly down the last week but hopefully a recovery in the next weeks.

Feel free to ask your questions. Our email is: info@mulderventure.com

Best regards,
Byung Koo Mulder
CEO of Mulder Venture BV

Mulder FX Update!

Posted by Byung Koo at 8:40 am

Dear clients,

An update from the front of FX trading. This times are very volatile in FX markets. The performance changed and will be change very rapidly. Last week we get a hit in performance, main reason is development in EUR/USD. We could managed a little with some currency pairs like USD/CAD and AUD/USD. Only performance plummeted last week.

FX trading is high risk, because high leverage. So movements like last week are extremely rare but it could happen. I think everyone will agree that stories in EUR, CHF and GBP are spectacular.

Our prediction still stands, EUR will recover from here and we will move above 1.30-1.35 again. Patience is key in this and also money management. Most of the clients are around 10% margin call, so far away of the 1% and our own bottom of margin call of 3,5%.

We believe in our strategy because we had the same period last year. We were in short positions in EUR/USD at 1.45-1.51 and on November when EUR/USD reached 1.5175, we also dropped in performance. Everyone knows what happened in December till now.
On that moment everyone in the markets said 1.60 again and maybe new highs in EUR/USD. Right now everyone talks total different and someone believe a parity in EUR/USD.

We are open for all reactions and opinions. We monitor this every day but we hold on our proved strategy for the coming months.

Feel free to ask your questions.
Best regards,

Byung Koo Mulder
CEO of Mulder Venture BV, Mulder FX

GBP/USD Trade Setup results in 700 pips Rally!!

Posted by Byung Koo at 2:05 am

Dear fellow FX Traders,

on 23th March we published an article for a possible trade setup.

The GBP/USD currency pair, target 1.5574, as can be seen we are already there 1.55 and a high of 1.5521. Within 1 month you could have earned a lot of money.

We have never been in serious trouble because of the strong support at 1.48, right now we are 700 pips higher. All of our clients to benefit of this trade setup and we still have some open positions in GBP/USD as a result of this bullish run we now have our outlook on possible short positions.

Benefit from the next possible rally: 6th of May elections in England, heading towards a split parliament most definitely resulting in uncertainty equals bad for currency.

Will you be there to benefit? become a client today!

USD/CHF Technical View

Posted by Mulder Venture at 5:14 am

22 December we posted our target for USD/CHF at 1.0850, we’ll see a top around 1.09-1.0925. For our existing clients we will take positions at this level.

We expect the U.S. Dollar to weaken for next coming weeks. Latest Economic figures out of the US, the consumer confidence and housing figures have deteriorated, paired with that  Bernanke said again they will keep interest rates at current level. Of course U.S. dollar will be the safe haven currency when the stock markets goes downward but we expect the stock market to at least remain steady as investors standby the sideline until the first week of March for NFP(Non-Farm Payrolls) figures. Following these figures FX traders will start to take bigger positions and as a result bigger movements are to be expected.

For the next upcoming days/week the EUR/USD will move in range 1.3450-1.3700.

Euro on the Ropes as Greece Debt Crisis Grows Contagious

Posted by Mulder Venture at 6:26 pm

Euro on the Ropes as Greece Debt Crisis Grows Contagious

Fundamental Forecast for Euro: Bearish

-    Euro hits five-month low on S&P 500 tumbles
-    Fear of Greek debt crisis spreads to Spain and Portugal, sends Euro lower
-    Forex futures and options forecast for Euro shows many fear further losses

The Euro finished the week substantially lower against the safe haven US Dollar on sharp declines in the US S&P 500 and broad deterioration in financial market risk appetite. The ongoing budget deficit crisis in Euro Zone member Greece grew beyond its borders, causing a substantial widening in sovereign bond yield spreads for countries such as Portugal and Spain. Arguably the worst crisis to threaten the stability of the European Monetary Union to date, market reactions only exacerbated losses and the Euro was especially weak against the resurgent US Dollar.

Short-term forecasts subsequently depend on the trajectory of financial market risk sentiment, how it relates to European asset classes and the continued viability of the EMU. Though the 16-member Euro zone is no stranger to turmoil, sustained budget crises threaten to shake the foundations of the union and present real danger to the euro. Markets are subsequently likely to ignore anything but the biggest surprises in upcoming economic event risk and instead pay very close attention to ongoing activity in sovereign deficit troubles. The key question rolling forward is whether or not Greece can contain its growing budget deficit and whether any problems in one country can cause contagion across the broader Euro Zone. Similar budget issues in Portugal and Spain have come to the spotlight despite their comparatively manageable fiscal shortfalls and underline risks that fiscal troubles may spread to other EMU members.

Greece is in special danger not only due to the sheer size of the fiscal deficit as a percentage of GDP, but any political efforts to institute cuts in spending and rein in the deficit have been met with fierce popular opposition. The political deadlock is especially troubling given that the Greek government will need significant funding in the months ahead as the deficit grows and interest rate payments skyrocket.  If markets are unwilling to purchase Greek debt, then it seems likely that the strongest EMU countries may need to bail-out the debt-ridden country. Hawkish rhetoric from European officials suggests that few can stomach any such action, and it will be critical to see any and all developments in what remains a volatile situation across the common currency zone.

Fundamental data in the week ahead will likely take a backseat to broader financial market activity, but it may be important to watch any surprises in upcoming Q4, 2009 Gross Domestic Product reports from individual countries and the broader Euro zone economy. Consensus forecasts call for the second consecutive quarter of Euro zone economic growth at a 0.3 percent QoQ change. Any especially sizeable surprises could have pronounced effects on domestic financial markets and—by extension—on the highly risks-sensitive Euro currency. Long-term correlations between the Euro/US Dollar exchange rate and the US S&P 500 remain near record-highs and emphasize the pair’s sensitivity to risk appetite. Suffice it to say, any strongly negative GDP data releases or continued EMU deficit struggles could have similarly dire effects on the Euro.

US Dollar Stumbles as Risk Appetite Perks up, 2010 Budget Deficit Balloons

Posted by Mulder Venture at 2:51 pm

• US Dollar Stumbles as Risk Appetite Perks up, 2010 Budget Deficit Balloons
• Australian Dollar Establishes a High Level of Volatility before the RBA’s Rate Decision
• British Pound Recovers Lost Ground with Manufacturing and Lending Data

US Dollar Stumbles as Risk Appetite Perks up, 2010 Budget Deficit Balloons
The Dow Jones Industrial Average and gold were putting in for hearty advances Monday; so naturally the US dollar would end the session in the red. Risk appetite improved progressively as the day wore on, aided by a round of impressive economic data and a sense of market stability that stood in contrast to the past two weeks. Stability in price action and underlying sentiment cannot be overlooked. Just like the buildup of high-yield positions through 2009 necessitated a natural correction this year; the consistent plunge in risk appetite through the second half of January would encourage a correction to put the market back on a fundamental equilibrium. However, until the case for a meaningful change in underlying sentiment can be made, the changing winds can be chalked up to a correction in a larger trend.

Looking for specific drivers for price action today, there was a round of economic data and a few unscheduled events that would work it just right so that risk appetite would be reinforced while the dollar’s appeal would be further diminished from a global perspective. From the docket, this morning’s top release was the January ISM manufacturing activity report. In the past, this indicator was the second most market-moving indicator (behind NFPs); but with the focus shifting to much larger themes, its volatility potential has certainly ebbed. However, with the US struggling to establish its recovery, the indicator’s fundamental influence has actually increased. Much like the Chinese, Australian, Euro Zone and UK factory activity indicators released earlier in the day, the US reading pointed to recovery. The 58.4 headline figure was the highest level for the series since August of 2004. Perhaps more impressive was the component data. Production rose to its highest level since April of 2004 and new orders climbed to levels not seen since August of 2004. A note of caution should be taken when interpreting what this data means for the broader economy recovery though. Many economists are concerned that the clear strength in this specific sector is founded on rebuilding depleted inventories. If that is the case, the current run is ultimately limited. The other round of top flight event risk was the personal income and spending figures for December. Income rose for a sixth consecutive month while spending grew for a third. Considering consumer spending accounts for approximately three quarters of the economy, these are encouraging numbers. Yet, without a clear recovery in nationwide employment, the pickup in wages and consumption will amount to relatively little for the broader economy.

In contrast to the economic indicators of the past 24 hours, there were a couple events falling outside the regular data feed that would exact a far greater influence on a market that is more concerned with economic and financial health between economies. US President Obama released a $3.8 trillion fiscal 2011 budget that would push the current year’s deficit to a record $1.6 trillion. While rating agencies have repeatedly assured that the world’s largest economy would not see a credit downgrade; the market is nonetheless discouraged from the deep hole that the nation is digging itself into. As for the aim of this increase in spending, the president’s primary concern is job creation. To offset some of the outlay, the proposal calls for a freeze on some domestic programs, a fee on banks that benefited from the TARP program, and letting tax breaks for the oil industry and households with over $250,000 expire. As for the 2010 forecasts: inflation is expected to average 1.9 percent; the jobless rate was bumped up to 10 percent; and the GDP outlook was raised to 2.7 percent. Another report that came with a wide-angled lens was the Fed’s Senior Loan Officer Opinion Survey for the fourth quarter. According to statistics, loan demand from businesses and households weakened; while lenders have yet to begin repeal their tightening efforts of the past two years.

Australian Dollar Establishes a High Level of Volatility before the RBA’s Rate Decision
Over the past 24 hours, the Australian dollar was responding to the most active economic docket among the majors. And, though there are far fewer releases on board over the next 24; the fundamental influence will likely be even greater. Through Monday morning, event-risk traders were offered fourth quarter readings on housing prices and wage agreements, manufacturing activity and consumer-level inflation. The factory activity report notched higher; but it was the cumulative reading on price pressures that held the greatest influence over the currency. The Reserve Bank of Australia (RBA) is scheduled to announce its decision on interest rates today. All 20 economists polled by Bloomberg have forecasted a 0.25 basis point rate hike to 4.00 percent; but overnight index swaps reveal the market is pricing in some doubt at a 78 percent probability. For background, the central bank’s decision to hike the benchmark for a third consecutive time back on December 2nd was unprecedented. Not only would a fourth increase be unheard of; but it would come during a period when the global economy is struggling to establish stability in economic activity and financial markets. Furthermore, Governor Glenn Stevens suggested in commentary that followed the actual decision that further policy adjustments would likely come at a slower clip so that the economy could adjust to previous hikes. Therefore, if the central bank does hike today; the language that follows will likely further dampen expectations of a steady clip of policy tightening.

British Pound Recovers Lost Ground with Manufacturing Data
The British pound was perhaps the biggest move on the day; but the currency’s activity wouldn’t take a straight path. The single currency’s recent alignment to risk aversion flows (though the sterling is not a likely candidate for safe harbor nor was it used to extensively to fund carry positions) proved a fundamental weight as the sentiment improved market-wide. However, risk appetite wouldn’t be the only facet to today’s price action. Well-placed economic indicators proved fruitful enough that they helped offset the correction in risk appetite. Among a slew of manufacturing figures released Monday, the United Kingdom’s January reading would stand out with a 15-year high that points to a much-needed economic boost from a significant element of growth. Moving forward, the focus on Thursday’s BoE rate decision will intensify. There is speculation that the policy body will finally bring the bond purchasing program to a close. This would be a first step towards an eventual hike.

Mulder Forex Competition Update

Posted by Mulder Venture at 1:30 pm

The table below gives a overview on the current ranking of the Mulder Forex Competition. (February 1)

At the moment of taking the daily rankings:

No major shifts in the Forex Competition Ranking have taken place during the european session on Monday. We do have several traders taking up positions at the moment.

So we still have Pedrag Jovanovic as the undisputted leader with a respectable 39% profit, and Niklas Johnsson as the leader of the back with a 64% loss.

We will post updates as changes have taken place or positions are being closed for profit or loss, so stay tuned..

If you have any questions regarding the forex competition or concerning current rankings please send us a email

Euro sinks below $1.40, first time in 6 months

Posted by Mulder Venture at 1:29 am

The euro fell below $1.40 Thursday for the first time in six months as risk-averse investors parked money in dollars following disappointing economic reports.

More worries about public finances in the eurozone also brightened the dollar’s shine.

Weaker-than-expected news on employment and durable goods orders, a looming overhaul in U.S. banking rules and fears of default on European government debt all helped drive the dollar higher Thursday, continuing its gains over the past two months.

The 16-nation euro fell as low as $1.3938, its weakest level since July 2009. In later trading Thursday in New York, it fetched $1.3978 compared with $1.4038 late Wednesday.

The British pound dropped to $1.6127 from $1.6179, while the dollar was flat at 89.90 Japanese yen.

On Thursday, the government said orders to U.S. factories for big-ticket manufactured goods rose a meager 0.3 percent in December, while a drop in the number of newly unemployed people filing for jobless benefits fell short of expectations. The disappointing reports compounded uncertainty about how strong the U.S. economy is.

Meanwhile some investors are looking ahead to when the Federal Reserve may feel ready to raise interest rates off their historic lows, which would be a positive factor for the dollar.

On Wednesday the Fed held short-term rates near zero but also said economic activity continues to strengthen. One Fed official voted against the Fed’s plege to keep rates at record lows for an “extended period.”

“The upgraded outlook, the single vote to revoke the ‘extended period’ mantra, and the continued planning to unwind credit easing are all important steps toward tightening,” said UBS currency analyst Geoffrey Yu.

Low interest rates can weigh down a currency as investors move funds to other currencies that have higher yields. The U.S. has one of the lowest official interest rates of the major economies, and many emerging-market countries have substantially higher rates.

UBS is predicting a value of $1.35 for the euro as concerns over Greece’s public finances continue. Greece’s problems are also causing anxiety about high levels of indebtedness in other European countries such as Portugal.