Among the main features of on-line trading resources that modern traders and investors demand are practicality, convenience, mobility, and quality. Broco clients enjoy all of these, thanks to the variety of trading terminals, which our company provides to help them access major financial markets around the globe.
Broco provides 4 trading terminals — to keep track of and trade a multitude of financial instruments in diverse financial markets. These provide virtually unlimited opportunities for profitable trading. This wide range of products is proof positive that the Broco understands the needs of traders and is faithful to its slogan
Monday, August 2, 2010
Saturday, July 31, 2010
Forex Is
Foreign exchange market or Forex is the market for buying and selling currencies. Currencies from all over the word can be traded in Forex which is an OTC (over the counter) market. The Forex market is loosely regulated by the Commodity Futures Trading Commission (CFTC). The National Futures Association (NFA) has regulatory authority over retail brokers and market makers. Forex, the most liquid market in the world operates round the clock.
Who are the Market Participants? Why do they trade ?
Governments and Banks:Governments and central banks of various countries deal in the forex market with the intention of maintaining their foreign exchange reserves. Many a times governments buy and sell currency with the intention of achieving a favorable balance of payment (BOP) situation. For instance if a country is interested in increasing its exports, it might sell its currency in forex market. This would increase the supply of the currency. An increase in supply would result in currency depreciation. Once the currency depreciates, exports increase; making the current account balance favorable and the BOP satisfactory. Since governments and central banks have unlimited authority and access to money, they can exercise significant influence on the direction of the market.
Business Firms: Firms deal in the forex market mainly in order to hedge against unfavorable exchange rate movements. For example, a firm in the U.S. engaged in the business of supplying corn to Europe would receive payments in EUR. Suppose EUR depreciates, the U.S. based firm would suffer. This is because the firm can now buy fewer dollars with the euros. In order to avoid this situation the firm can enter into a future contract to lock in a favorable rate at which euros can be exchanged for dollars. This process is known as hedging.
Banks and Financial Institutions: Banks and other financial institutions also participate in the forex market. Banks profit from the bid-ask spread. They deal in a particular segment of the market known as the interbank market. In this market, banks who have credit relations with each other indulge in trading currencies. The size of the bank in monetary terms would determine its credit relation and its importance in the interbank market. Individuals who need to exchange currency can approach their local banks.
Who are the Market Participants? Why do they trade ?
Governments and Banks:Governments and central banks of various countries deal in the forex market with the intention of maintaining their foreign exchange reserves. Many a times governments buy and sell currency with the intention of achieving a favorable balance of payment (BOP) situation. For instance if a country is interested in increasing its exports, it might sell its currency in forex market. This would increase the supply of the currency. An increase in supply would result in currency depreciation. Once the currency depreciates, exports increase; making the current account balance favorable and the BOP satisfactory. Since governments and central banks have unlimited authority and access to money, they can exercise significant influence on the direction of the market.
Business Firms: Firms deal in the forex market mainly in order to hedge against unfavorable exchange rate movements. For example, a firm in the U.S. engaged in the business of supplying corn to Europe would receive payments in EUR. Suppose EUR depreciates, the U.S. based firm would suffer. This is because the firm can now buy fewer dollars with the euros. In order to avoid this situation the firm can enter into a future contract to lock in a favorable rate at which euros can be exchanged for dollars. This process is known as hedging.
Banks and Financial Institutions: Banks and other financial institutions also participate in the forex market. Banks profit from the bid-ask spread. They deal in a particular segment of the market known as the interbank market. In this market, banks who have credit relations with each other indulge in trading currencies. The size of the bank in monetary terms would determine its credit relation and its importance in the interbank market. Individuals who need to exchange currency can approach their local banks.
Automated Forex Trading System
Automated forex trading has become a popular way to make a profit by dealing in currency trading. Participants use the foreign currency exchange in much the same way they play the stock market. There are a number of advantages to trading currency instead of trading stocks.
If you are serious about getting a huge return on your investment by working smarter, not harder, check out this proven automated forex trading system.
Automatic forex trading utilizes a software program to predict rises and falls in currency rates and make profitable trading decisions. The software also makes the trades for you. With a Forex trading system like this one, you simply start up the program and begin turning a profit with very little effort. Your auto Forex trading can continue working around the clock so trades happen when news breaks rather than when the market opens.
Many people have seen success with automated forex trading but not all packages are created equal. Some have undergone a more rigorous testing process than others. For example, the FAP Turbo software has been tested in both back tests and live trades to ensure the product works. Most software packages have only been back tested, so they may or may not do well in live trading. It is better to find a software package that has been tested in both environments to ensure results.
Most people who opt for a forex trading system have little knowledge about the foreign currency trade market. That is one of the biggest advantages to forex trading software. These programs do all of the work for you, so all you have to do is install the software and kick off the program. Installation usually takes a few minutes and results can be seen the same day. Even people who have never traded currency before can make a profit with Forex.
Forex trading systems take much of the guesswork out of the foreign currency exchange market. You can begin the process with as little as $50 and quickly see the profits begin to accumulate. According to the makers of FAP Turbo, serious profits can be seen in just a few weeks' time. The more you make, the more you can invest and the more you invest, the more you make. The cycle has been a profitable one for many who have used these forex systems.
If you want to make money in the foreign currency market, check out automated forex trading. The FAP Turbo program is a particularly good choice because it has been well tested and proven. With forex trading software like FAP Turbo, you can make money without any prior experience in foreign currency trading. It's an excellent investment.
If you are serious about getting a huge return on your investment by working smarter, not harder, check out this proven automated forex trading system.
Automatic forex trading utilizes a software program to predict rises and falls in currency rates and make profitable trading decisions. The software also makes the trades for you. With a Forex trading system like this one, you simply start up the program and begin turning a profit with very little effort. Your auto Forex trading can continue working around the clock so trades happen when news breaks rather than when the market opens.
Many people have seen success with automated forex trading but not all packages are created equal. Some have undergone a more rigorous testing process than others. For example, the FAP Turbo software has been tested in both back tests and live trades to ensure the product works. Most software packages have only been back tested, so they may or may not do well in live trading. It is better to find a software package that has been tested in both environments to ensure results.
Most people who opt for a forex trading system have little knowledge about the foreign currency trade market. That is one of the biggest advantages to forex trading software. These programs do all of the work for you, so all you have to do is install the software and kick off the program. Installation usually takes a few minutes and results can be seen the same day. Even people who have never traded currency before can make a profit with Forex.
Forex trading systems take much of the guesswork out of the foreign currency exchange market. You can begin the process with as little as $50 and quickly see the profits begin to accumulate. According to the makers of FAP Turbo, serious profits can be seen in just a few weeks' time. The more you make, the more you can invest and the more you invest, the more you make. The cycle has been a profitable one for many who have used these forex systems.
If you want to make money in the foreign currency market, check out automated forex trading. The FAP Turbo program is a particularly good choice because it has been well tested and proven. With forex trading software like FAP Turbo, you can make money without any prior experience in foreign currency trading. It's an excellent investment.
Friday, July 30, 2010
Free Forex Trading
Forex trading has taken the world by storm. Millions of people attempt to make their fortune on the Forex market. Unfortunately most of them will loose their money because they did not have proper forex education . Without proper education Forex trading is an expensive gamble. There are various training courses available on the internet but most of them are very expensive.
If you take the time time to learn the art of forex trading you can potentially earn $3,000 or more per month by working about 4 hours per day. Forex trading can be the best home based business you can dream of.
There are even some auto trade systems available today that can do it all for you. In order to make an online fortune you MUST first learn how to do it before you attempt to use your own hard earned money to try and make money on the forex market. There the patient forex trading gurus who earn millions of dollars per month from currency trading every month, but there are also those who loose millions of dollars. The only difference between the winners and losers is that the winners took the time to learn what it is about and they traded with dummy account before the dived into the market. It is not that difficult to make a good profit from forex trading, just about anybody can do it if you are dedicated and serious.
Recently Forex Trading became even easier with the introduction of Forex Trading Robots, also called Expert Advisors. A Forex Automated Trading Robot is software you plug into your trading software. The robots does its own technical analyses and execute trades by itself. This removes the human interaction and emotion. If you use them without being greedy you can make a profit of more than 90% on your trades. We have tried FAP Turbo and Forex Megadriod with positive results so far. Click here to see the Automated systems category on our blog.
If you take the time time to learn the art of forex trading you can potentially earn $3,000 or more per month by working about 4 hours per day. Forex trading can be the best home based business you can dream of.
There are even some auto trade systems available today that can do it all for you. In order to make an online fortune you MUST first learn how to do it before you attempt to use your own hard earned money to try and make money on the forex market. There the patient forex trading gurus who earn millions of dollars per month from currency trading every month, but there are also those who loose millions of dollars. The only difference between the winners and losers is that the winners took the time to learn what it is about and they traded with dummy account before the dived into the market. It is not that difficult to make a good profit from forex trading, just about anybody can do it if you are dedicated and serious.
Recently Forex Trading became even easier with the introduction of Forex Trading Robots, also called Expert Advisors. A Forex Automated Trading Robot is software you plug into your trading software. The robots does its own technical analyses and execute trades by itself. This removes the human interaction and emotion. If you use them without being greedy you can make a profit of more than 90% on your trades. We have tried FAP Turbo and Forex Megadriod with positive results so far. Click here to see the Automated systems category on our blog.
Forex News
Our forex trading sentiment gauge continues to forecast further US Dollar gains, as trading crowds have persistently sold into USD rallies and given contrarian signal to go long. In fact, the majority of traders flipped net-short the US Dollar against the Euro when the pair crossed below 1.4400 and gave clear signal to go short. Crowd sentiment has still remained fairly net-short the US Dollar, and we have little reason to trim our exposure to bets on USD appreciation. Of course, the faster it rallies the more likely it will post a short-term turnaround, and risk/reward ratios on USD-long positions has faded with its recent gains.
Forex charts
Forex Club is here to provide you with trading tools you may need to get the most out of the world's largest financial market and tries to give you as much currency trading related information as possible. Here you will find live streaming prices, demo accounts, Forex analysis, forecasts, statistics, commentaries and real time Forex charts to get clear understanding of factors affecting the foreign exchange market and make the most deliberate investment decisions.
Web Forex charts and news give traders a comprehensive view of Forex trading market and various aspects of currency rate movements. Forex Club trading platform is for active Forex traders and includes online Forex trading recommendations and information, live Forex charts, Forex quotes for most currencies, daily currency news and Forex forecasts – in other words everything needed to analyze and learn about the market price movements.
If you are thinking seriously about trading on Forex market, but want to get full control over your investments, web Forex charts, news, analysis and forecasts are available online on our website to let you become increasingly familiar with technology and gain greater control over your finances. Forex Club allows you to practice your Forex trading skills before risking any money by using demo account that will help you to get real-market experience with live Forex charts, rates and news affecting the price fluctuations. Don't miss a chance to practice Forex with tradable prices, real time data and world breaking news, real time Forex charts and technical indicators available online.
In order to make your Forex trading as productive as possible, you need to get the most of the information at your finger tips as well as plenty of useful tools, such as real time Forex charts, daily market comments and news, Forex forecast and Forex tutorials. Forex Club is an innovative foreign currency exchange broker that is here to help you start exploring the world of currency trading in the most effective manner
Web Forex charts and news give traders a comprehensive view of Forex trading market and various aspects of currency rate movements. Forex Club trading platform is for active Forex traders and includes online Forex trading recommendations and information, live Forex charts, Forex quotes for most currencies, daily currency news and Forex forecasts – in other words everything needed to analyze and learn about the market price movements.
If you are thinking seriously about trading on Forex market, but want to get full control over your investments, web Forex charts, news, analysis and forecasts are available online on our website to let you become increasingly familiar with technology and gain greater control over your finances. Forex Club allows you to practice your Forex trading skills before risking any money by using demo account that will help you to get real-market experience with live Forex charts, rates and news affecting the price fluctuations. Don't miss a chance to practice Forex with tradable prices, real time data and world breaking news, real time Forex charts and technical indicators available online.
In order to make your Forex trading as productive as possible, you need to get the most of the information at your finger tips as well as plenty of useful tools, such as real time Forex charts, daily market comments and news, Forex forecast and Forex tutorials. Forex Club is an innovative foreign currency exchange broker that is here to help you start exploring the world of currency trading in the most effective manner
Forex Glossary
ADX (Average Directional Index) — standard technical indicator that measures the strength of a trend.
Ask (Offer) — price of the offer, the price you buy for.
Aussie — a Forex slang name for the Australian dollar.
Bank Rate — the percentage rate at which central bank of a country lends money to the country's commercial banks.
Bid — price of the demand, the price you sell for.
Broker — the market participating body which serves as the middleman between retail traders and larger commercial institutions.
Cable — a Forex traders slang word GBP/USD currency pair.
Carry Trade — in Forex, holding a position with a positive overnight interest return in hope of gaining profits, without closing the position, just for the central banks interest rates difference.
CCI (Commodity Channel Index) — a cyclical technical indicator that is often used to detect overbought/oversold states of the market.
CFD — a Contract for Difference — special trading instrument that allows financial speculation on stocks, commodities and other instruments without actually buying.
Commission — broker commissions for operation handling.
CPI — consumer price index the statistical measure of inflation based upon changes of prices of a specified set of goods.
EA (Expert Advisor) — an automated script which is used by the trading platform software to manage positions and orders automatically without (or with little) manual control.
ECN Broker — a type of Forex brokerage firm that provide its clients direct access to other Forex market participants. ECN brokers don't discourage scalping, don't trade against the client, don't charge spread (low spread is defined by current market prices) but charge commissions for every order.
ECB (European Central Bank) — the main regulatory body of the European Union financial system.
Fed (Federal Reserve) — the main regulatory body of the United States of America financial system, which division — FOMC (Federal Open Market Committee) — regulates, among other things, federal interest rates.
Fibonacci Retracements — the levels with a high probability of trend break or bounce, calculated as the 23.6%, 32.8%, 50% and 61.8% of the trend range.
Flat (Square) — neutral state when all your positions are closed.
Fundamental Analysis — the analysis based only on news, economic indicators and global events.
GDP (Gross Domestic Product) — is a measure of the national income and output for the country's economy; it's one of the most important Forex indicators.
GTC (Good Till Canceled) — order to buy or sell of a currency with a fixed price or worse. The order is alive (good) until execution or cancellation.
Hedging — maintaining a market position which secures the existing open positions in the opposite direction.
Jobber — a slang word for a trader which is aimed toward fast but small and short-term profit from an intra-day trading. Jobber rarely leaves open positions overnight.
Kiwi — a Forex slang name for the New Zealand currency — New Zealand dollar.
Leading Indicators — a composite index (year 1992 = 100%) of ten most important macroeconomic indicators that predicts future (6-9 months) economic activity.
Limit Order — order for a broker to buy the lot for fixed or lesser price or sell the lot for fixed or better price. Such price is called limit price.
Liquidity — the measure of markets which describes relationship between the trading volume and the price change.
Long — the position which is in a Buy direction. In Forex, the primary currency when bought is long and another is short.
Loss — the loss from closing long position at lower rate than opening or short position with higher rate than opening, or if the profit from a position closing was lower than broker commission on it.
Lot — definite amount of units or amount of money accepted for operations handling (usually it is a multiple of 100).
Margin — money, the investor needs to keep at broker account to execute trades. It supplies the possible losses which may occur in margin trading.
Margin Account — account which is used to hold investor's deposited money for FOREX trading.
Margin Call — demand of a broker to deposit more margin money to the margin account when the amount in it falls below certain minimum.
Market Order — order to buy or sell a lot for a current market price.
Market Price — the current price for which the currency is traded for on the market.
Momentum — the measure of the currency's ability to move in the given direction.
Moving Average (MA) — one of the most basic technical indicators. It shows the average rate calculated over a series of time periods. Exponential Moving Average (EMA), Weighted Moving Average (WMA) etc. are just the ways of weighing the rates and the periods.
Offer (Ask) — price of the offer, the price you buy for.
Open Position (Trade) — position on buying (long) or selling (short) for a currency pair.
Order — order for a broker to buy or sell the currency with a certain rate.
Pivot Point — the primary support/resistance point calculated basing on the previous trend's High, Low and Close prices.
Pip (Point) — the last digit in the rate (e.g. for EUR/USD 1 point = 0.0001).
Profit (Gain) — positive amount of money gained for closing the position.
Principal Value — the initial amount of money of the invested.
Realized Profit/Loss — gain/loss for already closed positions.
Resistance — price level for which the intensive selling can lead to price increasing (up-trend).
RSI (Relative Strength Index) — indicator that measures of the power of direction price movement by comparing the bullish and bearish portions of the trend.
Scalping — a style of trading notable by many positions that are opened for extremely small and short-term profits.
Settled (Closed) Position — closed positions for which all needed transactions has been made.
Slippage — execution of order for a price different than expected (ordered), main reasons for slippage are — "fast" market, low liquidity and low broker's ability to execute orders.
Spread — difference between ask and bid prices for a currency pair.
Standard Lot — 100,000 units of the base currency of the currency pair, which you are buying or selling.
Stop-Limit Order — order to sell or buy a lot for a certain price or worse.
Stop-Loss Order — order to sell or buy a lot when the market reaches certain price. It is used to avoid extra losses when market moves in the opposite direction. Usually is a combination of stop-order and limit-order.
STP (Straight Through Processing) — an order processing that doesn't require any manual intervention and is fully automatic. In fact, 99.9% of all on-line Forex brokers support order handling with STP.
Support — price level for which intensive buying can lead to the price decreasing (down-trend).
Swap — overnight payment for holding your position. Since you are not physically receiving the currency you buy, your broker should pay you the interest rate difference between the two currencies of the pair. It can be negative or positive.
Technical Analysis — the analysis based only on the technical market data (quotes) with the help of various technical indicators.
Trend — direction of market which has been established with influence of different factors.
Unrealized (Floating) Profit/Loss — a profit/loss for your non-closed positions.
Useable Margin — amount of money in the account that can be used for trading.
Used Margin — amount of money in the account already used to hold open positions open.
Volatility — a statistical measure of the number of price changes for a given currency pair in a given period of time.
VPS (Virtual Private Server) — virtual environment hosted on the dedicated server, which can be used to run the programs independent on the user's PC. Forex traders use VPS to host trading platforms and run expert advisors without unexpected interruptions.
Ask (Offer) — price of the offer, the price you buy for.
Aussie — a Forex slang name for the Australian dollar.
Bank Rate — the percentage rate at which central bank of a country lends money to the country's commercial banks.
Bid — price of the demand, the price you sell for.
Broker — the market participating body which serves as the middleman between retail traders and larger commercial institutions.
Cable — a Forex traders slang word GBP/USD currency pair.
Carry Trade — in Forex, holding a position with a positive overnight interest return in hope of gaining profits, without closing the position, just for the central banks interest rates difference.
CCI (Commodity Channel Index) — a cyclical technical indicator that is often used to detect overbought/oversold states of the market.
CFD — a Contract for Difference — special trading instrument that allows financial speculation on stocks, commodities and other instruments without actually buying.
Commission — broker commissions for operation handling.
CPI — consumer price index the statistical measure of inflation based upon changes of prices of a specified set of goods.
EA (Expert Advisor) — an automated script which is used by the trading platform software to manage positions and orders automatically without (or with little) manual control.
ECN Broker — a type of Forex brokerage firm that provide its clients direct access to other Forex market participants. ECN brokers don't discourage scalping, don't trade against the client, don't charge spread (low spread is defined by current market prices) but charge commissions for every order.
ECB (European Central Bank) — the main regulatory body of the European Union financial system.
Fed (Federal Reserve) — the main regulatory body of the United States of America financial system, which division — FOMC (Federal Open Market Committee) — regulates, among other things, federal interest rates.
Fibonacci Retracements — the levels with a high probability of trend break or bounce, calculated as the 23.6%, 32.8%, 50% and 61.8% of the trend range.
Flat (Square) — neutral state when all your positions are closed.
Fundamental Analysis — the analysis based only on news, economic indicators and global events.
GDP (Gross Domestic Product) — is a measure of the national income and output for the country's economy; it's one of the most important Forex indicators.
GTC (Good Till Canceled) — order to buy or sell of a currency with a fixed price or worse. The order is alive (good) until execution or cancellation.
Hedging — maintaining a market position which secures the existing open positions in the opposite direction.
Jobber — a slang word for a trader which is aimed toward fast but small and short-term profit from an intra-day trading. Jobber rarely leaves open positions overnight.
Kiwi — a Forex slang name for the New Zealand currency — New Zealand dollar.
Leading Indicators — a composite index (year 1992 = 100%) of ten most important macroeconomic indicators that predicts future (6-9 months) economic activity.
Limit Order — order for a broker to buy the lot for fixed or lesser price or sell the lot for fixed or better price. Such price is called limit price.
Liquidity — the measure of markets which describes relationship between the trading volume and the price change.
Long — the position which is in a Buy direction. In Forex, the primary currency when bought is long and another is short.
Loss — the loss from closing long position at lower rate than opening or short position with higher rate than opening, or if the profit from a position closing was lower than broker commission on it.
Lot — definite amount of units or amount of money accepted for operations handling (usually it is a multiple of 100).
Margin — money, the investor needs to keep at broker account to execute trades. It supplies the possible losses which may occur in margin trading.
Margin Account — account which is used to hold investor's deposited money for FOREX trading.
Margin Call — demand of a broker to deposit more margin money to the margin account when the amount in it falls below certain minimum.
Market Order — order to buy or sell a lot for a current market price.
Market Price — the current price for which the currency is traded for on the market.
Momentum — the measure of the currency's ability to move in the given direction.
Moving Average (MA) — one of the most basic technical indicators. It shows the average rate calculated over a series of time periods. Exponential Moving Average (EMA), Weighted Moving Average (WMA) etc. are just the ways of weighing the rates and the periods.
Offer (Ask) — price of the offer, the price you buy for.
Open Position (Trade) — position on buying (long) or selling (short) for a currency pair.
Order — order for a broker to buy or sell the currency with a certain rate.
Pivot Point — the primary support/resistance point calculated basing on the previous trend's High, Low and Close prices.
Pip (Point) — the last digit in the rate (e.g. for EUR/USD 1 point = 0.0001).
Profit (Gain) — positive amount of money gained for closing the position.
Principal Value — the initial amount of money of the invested.
Realized Profit/Loss — gain/loss for already closed positions.
Resistance — price level for which the intensive selling can lead to price increasing (up-trend).
RSI (Relative Strength Index) — indicator that measures of the power of direction price movement by comparing the bullish and bearish portions of the trend.
Scalping — a style of trading notable by many positions that are opened for extremely small and short-term profits.
Settled (Closed) Position — closed positions for which all needed transactions has been made.
Slippage — execution of order for a price different than expected (ordered), main reasons for slippage are — "fast" market, low liquidity and low broker's ability to execute orders.
Spread — difference between ask and bid prices for a currency pair.
Standard Lot — 100,000 units of the base currency of the currency pair, which you are buying or selling.
Stop-Limit Order — order to sell or buy a lot for a certain price or worse.
Stop-Loss Order — order to sell or buy a lot when the market reaches certain price. It is used to avoid extra losses when market moves in the opposite direction. Usually is a combination of stop-order and limit-order.
STP (Straight Through Processing) — an order processing that doesn't require any manual intervention and is fully automatic. In fact, 99.9% of all on-line Forex brokers support order handling with STP.
Support — price level for which intensive buying can lead to the price decreasing (down-trend).
Swap — overnight payment for holding your position. Since you are not physically receiving the currency you buy, your broker should pay you the interest rate difference between the two currencies of the pair. It can be negative or positive.
Technical Analysis — the analysis based only on the technical market data (quotes) with the help of various technical indicators.
Trend — direction of market which has been established with influence of different factors.
Unrealized (Floating) Profit/Loss — a profit/loss for your non-closed positions.
Useable Margin — amount of money in the account that can be used for trading.
Used Margin — amount of money in the account already used to hold open positions open.
Volatility — a statistical measure of the number of price changes for a given currency pair in a given period of time.
VPS (Virtual Private Server) — virtual environment hosted on the dedicated server, which can be used to run the programs independent on the user's PC. Forex traders use VPS to host trading platforms and run expert advisors without unexpected interruptions.
Forex Strategies
Forex trading can't be consistently profitable without adhering to some Forex strategy. It takes time and effort to build your own Forex trading strategy or to adapt an existing one to your trading needs and style. It's important to choose a strategy or system that is easy to follow with your daily trading schedule and that can be applied successfully with your account balance size. In this Forex strategy repository you'll find various strategies that are divided into three major categories:
•Indicator Forex Strategies
•Price Action Forex Strategies
•Fundamental Forex Strategies
Indicator Forex Strategies are such trading strategies that are based on the standard Forex chart indicators and can be used by anyone who has an access to some charting software (e.g. MetaTrader platform). These Forex strategies are recommended to traders that prefer technical analysis indicators over everything else:
•Moving Average Cross Strategy
•Parabolic SAR Strategy
•Stochastic Oscillator Strategy
•MACD Divergnce Forex Strategy
•Combined Stochastic Oscillator/MA Strategy
Price Action Forex Strategies are the trading strategies that don't use any chart or fundamental indicators but instead are based purely on the price action. These strategies will fit both short-term and long-term traders that don't like the delay of the standard indicators and prefer to listen as the market is speaking. Various candlestick patterns, waves, tick-based strategies, grid and pending position systems — they all fall into this category:
•Inside Bar Strategy
•Simple Price Based Trading System
•Martingale Trading System
•Scalping Forex Strategy
Fundamental Forex Strategies are the based on purely fundamental factors that stand behind the bought and sold currencies. Various fundamental indicators, such as interest rates and macroeconomic statistics, affect the behavior of the Forex market. These strategies are quite popular and will benefit long-term traders that prefer fundamental data analysis over technical factors:
•Important News Trading Strategy
•Carry Trade Strategy
•Wednesday AUD/JPY Strategy
If you want to share your Forex trading strategy with other traders, or want to ask some questions regarding the strategies presented here, please, join a discussion of the Forex strategies at the forum.
•Indicator Forex Strategies
•Price Action Forex Strategies
•Fundamental Forex Strategies
Indicator Forex Strategies are such trading strategies that are based on the standard Forex chart indicators and can be used by anyone who has an access to some charting software (e.g. MetaTrader platform). These Forex strategies are recommended to traders that prefer technical analysis indicators over everything else:
•Moving Average Cross Strategy
•Parabolic SAR Strategy
•Stochastic Oscillator Strategy
•MACD Divergnce Forex Strategy
•Combined Stochastic Oscillator/MA Strategy
Price Action Forex Strategies are the trading strategies that don't use any chart or fundamental indicators but instead are based purely on the price action. These strategies will fit both short-term and long-term traders that don't like the delay of the standard indicators and prefer to listen as the market is speaking. Various candlestick patterns, waves, tick-based strategies, grid and pending position systems — they all fall into this category:
•Inside Bar Strategy
•Simple Price Based Trading System
•Martingale Trading System
•Scalping Forex Strategy
Fundamental Forex Strategies are the based on purely fundamental factors that stand behind the bought and sold currencies. Various fundamental indicators, such as interest rates and macroeconomic statistics, affect the behavior of the Forex market. These strategies are quite popular and will benefit long-term traders that prefer fundamental data analysis over technical factors:
•Important News Trading Strategy
•Carry Trade Strategy
•Wednesday AUD/JPY Strategy
If you want to share your Forex trading strategy with other traders, or want to ask some questions regarding the strategies presented here, please, join a discussion of the Forex strategies at the forum.
Forex Tools
The presented Forex tools can assist you both in technical analysis and money management which will greatly enhance your trading results. All these online Forex tools are totally free and can be used at no cost:
MT4/MT5 Expert Advisors — Download free expert advisors for the MetaTrader 4 (and MetaTrader 5) trading platform. Test and use these EAs to empower your automated Forex trading and also to help the developing of your own MetaTrader expert advisor or Forex strategy.
MetaTrader Indicators — Free downloads of the MetaTrader indicators for an MT4 and MT5 trading platforms. You can use these indicators to improve your Forex trading strategy or develop your own MetaTrader expert advisors.
Pivot Points Calculator — Four online web based pivot points calculators will help you to generate pivot points for any given time period. Pivot points are used as the most important market trend points, where trend can meet support or resistance and actually change its course. Floor, Tom Demark's, Woodie's and Camarilla pivot points building rules are available with this free calculator. You don't need to download any software, just fill the form and get instant pivot point, resistance and support levels.
Pip Value Calculator — How much is one pip? How about EUR/CHF or CAD/JPY? With this free and fast online tool you can find out the value of 1 pip in USD for any lot size and any major or cross currency pair. Fill the form and get the pip value in one moment. No need to download any software!
Fibonacci Calculator — The web based Fibonacci retracement calculator will help you to generate basic Fibonacci retracement values for any given trend. These retracement values can be used as the most natural points of support and resistance for a given trend for any currency pair. On the currency trading market, the use of Fibonacci retracement levels to set orders and targets is one of the best ways to organize trader's portfolio.
Risk and Reward Forex Calculator — online calculator that will help you to find out the risks and rewards associated with your possible position's targets and stop-losses based on the Fibonacci retracement levels of the current market wave.
Forex Strategies — free Forex strategies available for all traders, including strategies based on the technical idicators, fundamental events and bare price action. All presented Forex strategies have examples and detailed descriptions.
MetaTrader VPS hosting — special dedicated hosting for your MetaTrader (and usually any other) Forex platform and expert advisors. It's a good way to keep your strategy always active independently from your home or work PC.
MT4/MT5 Expert Advisors — Download free expert advisors for the MetaTrader 4 (and MetaTrader 5) trading platform. Test and use these EAs to empower your automated Forex trading and also to help the developing of your own MetaTrader expert advisor or Forex strategy.
MetaTrader Indicators — Free downloads of the MetaTrader indicators for an MT4 and MT5 trading platforms. You can use these indicators to improve your Forex trading strategy or develop your own MetaTrader expert advisors.
Pivot Points Calculator — Four online web based pivot points calculators will help you to generate pivot points for any given time period. Pivot points are used as the most important market trend points, where trend can meet support or resistance and actually change its course. Floor, Tom Demark's, Woodie's and Camarilla pivot points building rules are available with this free calculator. You don't need to download any software, just fill the form and get instant pivot point, resistance and support levels.
Pip Value Calculator — How much is one pip? How about EUR/CHF or CAD/JPY? With this free and fast online tool you can find out the value of 1 pip in USD for any lot size and any major or cross currency pair. Fill the form and get the pip value in one moment. No need to download any software!
Fibonacci Calculator — The web based Fibonacci retracement calculator will help you to generate basic Fibonacci retracement values for any given trend. These retracement values can be used as the most natural points of support and resistance for a given trend for any currency pair. On the currency trading market, the use of Fibonacci retracement levels to set orders and targets is one of the best ways to organize trader's portfolio.
Risk and Reward Forex Calculator — online calculator that will help you to find out the risks and rewards associated with your possible position's targets and stop-losses based on the Fibonacci retracement levels of the current market wave.
Forex Strategies — free Forex strategies available for all traders, including strategies based on the technical idicators, fundamental events and bare price action. All presented Forex strategies have examples and detailed descriptions.
MetaTrader VPS hosting — special dedicated hosting for your MetaTrader (and usually any other) Forex platform and expert advisors. It's a good way to keep your strategy always active independently from your home or work PC.
Why Trade Forex?
24 hour trading
One of the major advantages of trading Forex is the opportunity to trade 24 hours a day from Sunday evening (20:00 GMT) to Friday evening (22:00 GMT). This gives you a unique opportunity to react instantly to breaking news that is affecting the markets.
Superior liquidity
The Forex market is so liquid that there are always buyers and sellers to trade with. The liquidity of this market, especially that of the major currencies, helps ensure price stability and narrow spreads. The liquidity comes mainly from banks that provide liquidity to investors, companies, institutions and other currency market players.
No commissions
The fact that Forex is often traded without commissions makes it very attractive as an investment opportunity for investors who want to deal on a frequent basis.
Trading the “majors” is also cheaper than trading other cross because of the high level of liquidity. For more information on the trading conditions of Saxo Bank, go to the Account Summary on your SaxoTrader and open the section entitled “Trading Conditions” found in the top right-hand corner of the Account Summary.
100:1 Leverage
Leverage (gearing) enables you to hold a position worth up to 100 times more than your margin deposit. For example, a USD 10,000 deposit can command positions of up to USD 1,000,000 through leverage. You can leverage the first USD 25,000 of your investment up to 100 times and additional collateral up to 50 times.
Profit potential in falling markets
Since the market is constantly moving, there are always trading opportunities, whether a currency is strengthening or weakening in relation to another currency. When you trade currencies, they literally work against each other. If the EURUSD declines, for example, it is because the US dollar gets stronger against the euro and vice versa. So, if you think the EURUSD will decline (that is, that the euro will weaken versus the dollar), you would sell EUR now and then later you buy euro back at a lower price. In case that the EURUSD indeed declines, then you can take your profit. The opposite trading scenario would occur if the EURUSD appreciates
One of the major advantages of trading Forex is the opportunity to trade 24 hours a day from Sunday evening (20:00 GMT) to Friday evening (22:00 GMT). This gives you a unique opportunity to react instantly to breaking news that is affecting the markets.
Superior liquidity
The Forex market is so liquid that there are always buyers and sellers to trade with. The liquidity of this market, especially that of the major currencies, helps ensure price stability and narrow spreads. The liquidity comes mainly from banks that provide liquidity to investors, companies, institutions and other currency market players.
No commissions
The fact that Forex is often traded without commissions makes it very attractive as an investment opportunity for investors who want to deal on a frequent basis.
Trading the “majors” is also cheaper than trading other cross because of the high level of liquidity. For more information on the trading conditions of Saxo Bank, go to the Account Summary on your SaxoTrader and open the section entitled “Trading Conditions” found in the top right-hand corner of the Account Summary.
100:1 Leverage
Leverage (gearing) enables you to hold a position worth up to 100 times more than your margin deposit. For example, a USD 10,000 deposit can command positions of up to USD 1,000,000 through leverage. You can leverage the first USD 25,000 of your investment up to 100 times and additional collateral up to 50 times.
Profit potential in falling markets
Since the market is constantly moving, there are always trading opportunities, whether a currency is strengthening or weakening in relation to another currency. When you trade currencies, they literally work against each other. If the EURUSD declines, for example, it is because the US dollar gets stronger against the euro and vice versa. So, if you think the EURUSD will decline (that is, that the euro will weaken versus the dollar), you would sell EUR now and then later you buy euro back at a lower price. In case that the EURUSD indeed declines, then you can take your profit. The opposite trading scenario would occur if the EURUSD appreciates
Thursday, July 22, 2010
Market participants
Unlike a stock market, the foreign exchange market is divided into levels of access. At the top is the inter-bank market, which is made up of the largest commercial banks and securities dealers. Within the inter-bank market, spreads, which are the difference between the bid and ask prices, are razor sharp and usually unavailable, and not known to players outside the inner circle. The difference between the bid and ask prices widens (from 0-1 pip to 1-2 pips for some currencies such as the EUR). This is due to volume. If a trader can guarantee large numbers of transactions for large amounts, they can demand a smaller difference between the bid and ask price, which is referred to as a better spread. The levels of access that make up the foreign exchange market are determined by the size of the "line" (the amount of money with which they are trading). The top-tier inter-bank market accounts for 53% of all transactions. After that there are usually smaller banks, followed by large multi-national corporations (which need to hedge risk and pay employees in different countries), large hedge funds, and even some of the retail FX-metal market makers. According to Galati and Melvin, “Pension funds, insurance companies, mutual funds, and other institutional investors have played an increasingly important role in financial markets in general, and in FX markets in particular, since the early 2000s.” (2004) In addition, he notes, “Hedge funds have grown markedly over the 2001–2004 period in terms of both number and overall size” Central banks also participate in the foreign exchange market to align currencies to their economic needs.
Market size and liquidity
The foreign exchange market is the largest and most liquid financial market in the world. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. [3] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.[4]
Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York City accounted for 16.6%, and Tokyo accounted for 6.0%.[5] In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.
Exchange-traded FX futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts.
Several other developed countries also permit the trading of FX derivative products (like currency futures and options on currency futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Most emerging countries do not permit FX derivative products on their exchanges in view of prevalent controls on the capital accounts. However, a few select emerging countries (e.g., Korea, South Africa, India—[1]; [2]) have already successfully experimented with the currency futures exchanges, despite having some controls on the capital account.
FX futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Top 10 currency traders [6]
% of overall volume, May 2010 Rank Name Market Share
1 Deutsche Bank 18.06%
2 UBS AG 11.30%
3 Barclays Capital 11.08%
4 Citi 7.69%
5 Royal Bank of Scotland 6.50%
6 JPMorgan 6.35%
7 HSBC 4.55%
8 Credit Suisse 4.44%
9 Goldman Sachs 4.28%
10 Morgan Stanley 2.91%
Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues have made it easier for retail traders to trade in the foreign exchange market. In 2006, retail traders constituted over 2% of the whole FX market volumes with an average daily trade volume of over US$50-60 billion (see retail trading platforms).[7]
Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 34.1% in April 2007. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. For instance, when the IMF calculates the value of its SDRs every day, they use the London market prices at noon that day.
The ten most active traders account for 77% of trading volume, according to the 2010 Euromoney FX survey.[8] These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market taker will buy ("bid") from a wholesale or retail customer. The customer will buy from the market-maker at the higher "ask" price, and will sell at the lower "bid" price, thus giving up the "spread" as the cost of completing the trade. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EURUSD might be 1.2200/1.2203 on a wholesale broker. Minimum trading size for most deals is usually 100,000 units of base currency, which is a standard "lot".
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100/1.2300 for transfers, or say 1.2000/1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EURUSD are usually no more than 3 pips wide (i.e., 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.
Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York City accounted for 16.6%, and Tokyo accounted for 6.0%.[5] In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.
Exchange-traded FX futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts.
Several other developed countries also permit the trading of FX derivative products (like currency futures and options on currency futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Most emerging countries do not permit FX derivative products on their exchanges in view of prevalent controls on the capital accounts. However, a few select emerging countries (e.g., Korea, South Africa, India—[1]; [2]) have already successfully experimented with the currency futures exchanges, despite having some controls on the capital account.
FX futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Top 10 currency traders [6]
% of overall volume, May 2010 Rank Name Market Share
1 Deutsche Bank 18.06%
2 UBS AG 11.30%
3 Barclays Capital 11.08%
4 Citi 7.69%
5 Royal Bank of Scotland 6.50%
6 JPMorgan 6.35%
7 HSBC 4.55%
8 Credit Suisse 4.44%
9 Goldman Sachs 4.28%
10 Morgan Stanley 2.91%
Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues have made it easier for retail traders to trade in the foreign exchange market. In 2006, retail traders constituted over 2% of the whole FX market volumes with an average daily trade volume of over US$50-60 billion (see retail trading platforms).[7]
Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 34.1% in April 2007. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. For instance, when the IMF calculates the value of its SDRs every day, they use the London market prices at noon that day.
The ten most active traders account for 77% of trading volume, according to the 2010 Euromoney FX survey.[8] These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market taker will buy ("bid") from a wholesale or retail customer. The customer will buy from the market-maker at the higher "ask" price, and will sell at the lower "bid" price, thus giving up the "spread" as the cost of completing the trade. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EURUSD might be 1.2200/1.2203 on a wholesale broker. Minimum trading size for most deals is usually 100,000 units of base currency, which is a standard "lot".
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100/1.2300 for transfers, or say 1.2000/1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EURUSD are usually no more than 3 pips wide (i.e., 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.
Foreign exchange market
The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.[1]
The primary purpose of the foreign exchange market is to assist international trade and investment, by allowing businesses to convert one currency to another currency. For example, it permits a US business to import European goods and pay Euros, even though the business's income is in US dollars. It also supports speculation, and facilitates the carry trade, in which investors borrow low-yielding currencies and lend (invest in) high-yielding currencies, and which (it has been claimed) may lead to loss of competitiveness in some countries.[2]
In a typical foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market started forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
The foreign exchange market is unique because of its
huge trading volume, leading to high liquidity
geographical dispersion
continuous operation: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday
the variety of factors that affect exchange rates
the low margins of relative profit compared with other markets of fixed income
the use of leverage to enhance profit margins with respect to account size
As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding market manipulation by central banks.[citation needed] According to the Bank for International Settlements,[3] average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, as of April 2007. $3.21 Trillion is accounted for in the world's main financial markets.
The $3.21 trillion break-down is as follows:
$1.005 trillion in spot transactions
$362 billion in outright forwards
$1.714 trillion in foreign exchange swaps
$129 billion estimated gaps in reporting
The primary purpose of the foreign exchange market is to assist international trade and investment, by allowing businesses to convert one currency to another currency. For example, it permits a US business to import European goods and pay Euros, even though the business's income is in US dollars. It also supports speculation, and facilitates the carry trade, in which investors borrow low-yielding currencies and lend (invest in) high-yielding currencies, and which (it has been claimed) may lead to loss of competitiveness in some countries.[2]
In a typical foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market started forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
The foreign exchange market is unique because of its
huge trading volume, leading to high liquidity
geographical dispersion
continuous operation: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday
the variety of factors that affect exchange rates
the low margins of relative profit compared with other markets of fixed income
the use of leverage to enhance profit margins with respect to account size
As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding market manipulation by central banks.[citation needed] According to the Bank for International Settlements,[3] average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, as of April 2007. $3.21 Trillion is accounted for in the world's main financial markets.
The $3.21 trillion break-down is as follows:
$1.005 trillion in spot transactions
$362 billion in outright forwards
$1.714 trillion in foreign exchange swaps
$129 billion estimated gaps in reporting
Sunday, July 11, 2010
introduction to forex market
Forex (Foreign Exchange) is the international financial market used for trade of world currencies. It has been working since 70s of the 20th century - from the moment when the biggest world nations decided to switch from fixed exchange rates to floating ones.
Daily volume of Forex trade exceeds 4 trillion United States dollars, and this number is always growing.
Main currency for Forex operations is the United States dollar (USD).
Main Forex market participants:
- Central banks of countries;
- Commercial banks;
- Investing banks;
- Brokers, dealers;
- Pension funds;
- Insurance companies;
- International corporations;
- Individuals.
Unlike stock exchanges, Forex market doesn't have any fixed schedule or operating hours - it's open 24 hours per day, 5 days per week from Monday to Friday, since buy/sell orders are performed by world banks any time during the day or night (some banks even work on Saturdays and Sundays). Just like any other exchange, Forex market is driven by supply and demand of a particular tool. For instance, there are buyers and sellers for "Euro vs US dollar".
Exchange rates at Forex are changing constantly, and fluctuations may happen many times per second - this market is very liquid.
Exchange rates are influenced by:
- Economical factors (economical indicators of countries at the moment, politics of Central banks, changing interest rates, behaviour of importers and exporters, etc);
- Political factors (speeches of political leaders, president elections, etc);
- Market participants' mood and feelings, their expectations, rumours, etc;
- Force-major events (terroristic acts, accidents, catastrophes, etc).
Nevertheless, Forex market is much more stable than stock exchanges - it is not subject to huge surges, even if one currency is declining, another one is improving.
One of big advantages of the market is its' close relation with latest information technologies. Clients from different parts of the planet may connect to Internet and start trading. Even big banks tend to use electronic trading - it's the most common way of trading now. At this moment, Forex is at the rapid developing phase, and it's expected to grow more and more in the future.
Some of the advantages of Forex market over stock markets and/or other equities include:
- Traders can make profits both on declining and developing economies;
- Traders can make very short-term orders - with some other markets there are certain regulations;
- Thanks to retail centers like "Forex 4 You", it's much easier to join Forex market - virtually no minimum capital, quick registration, etc;
- Market is not regulated;
- There are no broker commissions or they are very low;
- Much higher leverages are provided;
- Market works non-stop 24 hours.
Daily volume of Forex trade exceeds 4 trillion United States dollars, and this number is always growing.
Main currency for Forex operations is the United States dollar (USD).
Main Forex market participants:
- Central banks of countries;
- Commercial banks;
- Investing banks;
- Brokers, dealers;
- Pension funds;
- Insurance companies;
- International corporations;
- Individuals.
Unlike stock exchanges, Forex market doesn't have any fixed schedule or operating hours - it's open 24 hours per day, 5 days per week from Monday to Friday, since buy/sell orders are performed by world banks any time during the day or night (some banks even work on Saturdays and Sundays). Just like any other exchange, Forex market is driven by supply and demand of a particular tool. For instance, there are buyers and sellers for "Euro vs US dollar".
Exchange rates at Forex are changing constantly, and fluctuations may happen many times per second - this market is very liquid.
Exchange rates are influenced by:
- Economical factors (economical indicators of countries at the moment, politics of Central banks, changing interest rates, behaviour of importers and exporters, etc);
- Political factors (speeches of political leaders, president elections, etc);
- Market participants' mood and feelings, their expectations, rumours, etc;
- Force-major events (terroristic acts, accidents, catastrophes, etc).
Nevertheless, Forex market is much more stable than stock exchanges - it is not subject to huge surges, even if one currency is declining, another one is improving.
One of big advantages of the market is its' close relation with latest information technologies. Clients from different parts of the planet may connect to Internet and start trading. Even big banks tend to use electronic trading - it's the most common way of trading now. At this moment, Forex is at the rapid developing phase, and it's expected to grow more and more in the future.
Some of the advantages of Forex market over stock markets and/or other equities include:
- Traders can make profits both on declining and developing economies;
- Traders can make very short-term orders - with some other markets there are certain regulations;
- Thanks to retail centers like "Forex 4 You", it's much easier to join Forex market - virtually no minimum capital, quick registration, etc;
- Market is not regulated;
- There are no broker commissions or they are very low;
- Much higher leverages are provided;
- Market works non-stop 24 hours.
history of forex market
Historically the value of goods was expressed through some other goods, for example - a barter economy where individuals exchange goods. The obvious disadvantages of such a system encouraged establishment of more generally accepted and understanded means of goods exchange long time ago in history - to set a common scale of value. In different places everything from teeth to jewelry has served this purpose but later metals, and especially gold and silver, were introduced as an accepted means of payment, and also a reliable form of value storage.
Originally, coins were basically minted from the metal, but stable political systems introduced a paper form of IOUs (I owe you) which gained wide acceptance during the Middle Ages. Such paper IOUs became the basis of our modern currencies.
Before First World War most central banks supported currencies with gold. Even though banknotes always could be exchanged for gold, in reality this did not happen that often, developing an understanding that full reserves are not really needed.
Sometimes huge supply of banknotes without gold support led to giant inflation and hence political instability. To protect national interests foreign exchange controls were introduced to demand more responsibility from market players.
Closer to the end of World War II, the Bretton Woods agreement was signed as the initiative of the USA in July 1944. The Bretton Woods Conference rejected John Maynard Keynes suggestion for a new world reserve currency in favour of a system built on the US dollar. Other international institutions such as the IMF, the World Bank and GATT (General Agreement on Tariffs and Trade) were created in the same period as the emerging victors of WW2 searched for a way to avoid the destabilising monetary crises which led to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that partly reinstated the gold standard, fixing the US dollar at USD35/oz and fixing the other main currencies to the dollar - and was intended to be permanent.
The Bretton Woods system came under increasing pressure as national economies moved in different directions during the sixties. A number of realignments kept the system alive for a long time, but eventually Bretton Woods collapsed in the early seventies following president Nixon's suspension of the gold convertibility in August 1971. The dollar was no longer suitable as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits.
The following decades have seen foreign exchange trading develop into the largest global market by far. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjust foreign exchange rates according to their perceived values.
But the idea of fixed exchange rates has by no means died. The EEC (European Economic Community) introduced a new system of fixed exchange rates in 1979, the European Monetary System. This attempt to fix exchange rates met with near extinction in 1992-93, when pent-up economic pressures forced devaluations of a number of weak European currencies. Nevertheless, the quest for currency stability has continued in Europe with the renewed attempt to not only fix currencies but actually replace many of them with the Euro in 2001.
The lack of sustainability in fixed foreign exchange rates gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates, in particular in South America, looking very vulnerable.
But while commercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have found a new playground. The size of foreign exchange markets now dwarfs any other investment market by a large factor. It is estimated that more than USD 3,000 billion is traded every day, far more than the world's stock and bond markets combined.
Originally, coins were basically minted from the metal, but stable political systems introduced a paper form of IOUs (I owe you) which gained wide acceptance during the Middle Ages. Such paper IOUs became the basis of our modern currencies.
Before First World War most central banks supported currencies with gold. Even though banknotes always could be exchanged for gold, in reality this did not happen that often, developing an understanding that full reserves are not really needed.
Sometimes huge supply of banknotes without gold support led to giant inflation and hence political instability. To protect national interests foreign exchange controls were introduced to demand more responsibility from market players.
Closer to the end of World War II, the Bretton Woods agreement was signed as the initiative of the USA in July 1944. The Bretton Woods Conference rejected John Maynard Keynes suggestion for a new world reserve currency in favour of a system built on the US dollar. Other international institutions such as the IMF, the World Bank and GATT (General Agreement on Tariffs and Trade) were created in the same period as the emerging victors of WW2 searched for a way to avoid the destabilising monetary crises which led to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that partly reinstated the gold standard, fixing the US dollar at USD35/oz and fixing the other main currencies to the dollar - and was intended to be permanent.
The Bretton Woods system came under increasing pressure as national economies moved in different directions during the sixties. A number of realignments kept the system alive for a long time, but eventually Bretton Woods collapsed in the early seventies following president Nixon's suspension of the gold convertibility in August 1971. The dollar was no longer suitable as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits.
The following decades have seen foreign exchange trading develop into the largest global market by far. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjust foreign exchange rates according to their perceived values.
But the idea of fixed exchange rates has by no means died. The EEC (European Economic Community) introduced a new system of fixed exchange rates in 1979, the European Monetary System. This attempt to fix exchange rates met with near extinction in 1992-93, when pent-up economic pressures forced devaluations of a number of weak European currencies. Nevertheless, the quest for currency stability has continued in Europe with the renewed attempt to not only fix currencies but actually replace many of them with the Euro in 2001.
The lack of sustainability in fixed foreign exchange rates gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates, in particular in South America, looking very vulnerable.
But while commercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have found a new playground. The size of foreign exchange markets now dwarfs any other investment market by a large factor. It is estimated that more than USD 3,000 billion is traded every day, far more than the world's stock and bond markets combined.
Thursday, July 1, 2010
How Does Forex Trading Work?
Forex trading is typically done through a broker or market maker. As a forex trader you can choose a currency pair that you expect to change in value and place a trade accordingly. For example, if you had purchased 1,000 Euros in January of 2005, it would have cost you around $1,200 USD. Throughout 2005 the Euro’s value vs. the U.S. Dollar’s value increased. At the end of the year 1,000 Euros was worth $1,300 U.S. Dollars. If you had chosen to end your trade at that point, you would have a $100 gain.
Forex trades can be placed through a broker or market maker. Orders can be placed with just a few clicks and the broker then passes the order along to a partner in the Interbank Market to fill your position. When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain. This can all happen literally within a few seconds.
Forex trades can be placed through a broker or market maker. Orders can be placed with just a few clicks and the broker then passes the order along to a partner in the Interbank Market to fill your position. When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain. This can all happen literally within a few seconds.
What is Forex Trading?
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Forex Trading is trading currencies from different countries against each other. Forex is acronym of Foreign Exchange.
For example, in Europe the currency in circulation is called the Euro (EUR) and in the United States the currency in circulation is called the US Dollar (USD). An example of a forex trade is to buy the Euro while simultaneously selling US Dollar. This is called going long on the EUR/USD.
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Forex Trading is trading currencies from different countries against each other. Forex is acronym of Foreign Exchange.
For example, in Europe the currency in circulation is called the Euro (EUR) and in the United States the currency in circulation is called the US Dollar (USD). An example of a forex trade is to buy the Euro while simultaneously selling US Dollar. This is called going long on the EUR/USD.
Hedging Forex Strategy
Currency hedging refers to a strategy that strives to minimize the exposure to exchange rate fluctuations, thereby minimizing the uncertainty of future transactions denominated in a foreign currency and providing some stability to earnings and cash flow. This is typically accomplished through the use of options or futures contracts.
Forward contracts can also be used to hedge currency risk. However, while forward contracts are superior to futures in terms of their overall risk reduction, there is no central market for forward contracts, which contributes to higher transaction costs and lower liquidity, as well as counterparty risk (i.e. the risk that the contract will not be honoured at expiration).
When a business chooses to hedge its exposure to foreign currency, the objective is to minimize uncertainty, not to maximize profit from currency speculation. A hedged position will therefore not produce the benefit of a favourable exchange rate movement, but at the same time will not expose the hedger to the loss potential of an unfavourable exchange rate movement.
The underlying principle of a hedging strategy is to construct a portfolio consisting of a long position in the foreign currency asset and a short position in a foreign currency asset such that gains on one offset losses on the other. This is achieved by using derivatives whose price movements are highly correlated with movements in the spot market.
Ideally, the derivative being used to hedge will have the same underlying currency as the foreign currency asset being hedged, since the price movements of the two assets would be highly similar.
Forward contracts give you a fixed cost for your foreign currency and therefore for your foreign currency purchasing. If the interest rates in the foreign country are higher than they are in the US, the forward rate is at a discount to the spot rate, and this reduces the dollar cost still more.
Forward contracts also have the advantage of being suitable for internal transactions. If your company exports to the country you are buying in, and wants to sell in local currency, purchasing in local currency reduces the company's currency exposure. The purchasing flow of funds offsets the sales office flow of funds. If an internal forward agreement is made between the two departments, only the difference between the two flows needs to be hedged at banks.
Options allow a buyer to take advantage of an increase in the value of the US dollar but protect against a decrease. Unfortunately, they are expensive. A six month option on a volatile currency typically costs about 5% and most people choose not to buy them. An added difficulty is that option prices for the European style options that buyers need are not well listed in financial newspapers.
Hedging does involve some risks, but they are limited and can be controlled with simple attention to the fundamentals. Risk arises from forecast inaccuracy, and can lead to unexpected price variations, either up or down. If a company over forecasts purchases and hedges with forwards, there will be larger profit or loss on the hedge than the variance on part cost.
With over forecasts, there will be a loss on forward contracts if the dollar strengthens and a gain if the dollar weakens. The total unexpected gain or loss will be approximately the percent over forecasted times the percent that the dollar changed. For example, a 20 % over forecast and a 15% currency strengthening will result in a 3% (15% of 20%) extra cost of the parts.
With under forecasts, some of the parts must be purchased at the spot rate without an offsetting hedge. If the dollar weakens, they will be more expensive and if it strengthens, they will be cheaper.
The biggest gains in currency management will come from choosing the right currency. A good negotiator should be able to get an initial price reduction of 5% or more against a volatile currency like the yen or the mark. The next most consequential decision is whether or not to hedge. Not hedging opens the buyer to dollar price swings that are often 20% in six months. This uncertainty is unacceptable to most companies.
The third decision is to choose a hedging strategy. A recent article in the International Journal of Purchasing and Materials Management showed the benefits of actively choosing a hedge strategy based on a Bayesian statistical analysis of probable outcomes. Over a five year period, actively choosing a hedge strategy would have saved 3.6 percent compared to paying in the supplier's currency (yen) without hedging, and 1.8 percent compared to always hedging with forwards. The authors did not consider options as a potential hedge strategy.
If buying in the supplier's currency without hedging is unacceptably risky, and buying in dollars is excessively expensive, the choice is between hedging with forwards and hedging with options.
If options were free, they would be the ideal choice, because they permit taking advantage of a stronger dollar and protect against a weaker dollar. However, options are not free, and almost always will be more expensive than forwards.
If you actively analyze probabilities of currency changes as the authors in the Journal recommend, and believe that the dollar will weaken, you should use forward contracts. They will give the same results as an option but at a lower cost. If you see no clear trend, make the choice based on relative costs. During two one-year periods when the dollar had no net change against the yen, options would have saved an average of 3.5% compared to forwards, before the costs of either.
If the difference in costs between an option and a forward contract is less than 3.5% and you predict no increase or decrease, consider buying an option.
If you predict a strengthening dollar, an option is the better choice. During a one year period of a strengthening dollar, options would have saved 7.71% compared to forward contracts.
Forward contracts can also be used to hedge currency risk. However, while forward contracts are superior to futures in terms of their overall risk reduction, there is no central market for forward contracts, which contributes to higher transaction costs and lower liquidity, as well as counterparty risk (i.e. the risk that the contract will not be honoured at expiration).
When a business chooses to hedge its exposure to foreign currency, the objective is to minimize uncertainty, not to maximize profit from currency speculation. A hedged position will therefore not produce the benefit of a favourable exchange rate movement, but at the same time will not expose the hedger to the loss potential of an unfavourable exchange rate movement.
The underlying principle of a hedging strategy is to construct a portfolio consisting of a long position in the foreign currency asset and a short position in a foreign currency asset such that gains on one offset losses on the other. This is achieved by using derivatives whose price movements are highly correlated with movements in the spot market.
Ideally, the derivative being used to hedge will have the same underlying currency as the foreign currency asset being hedged, since the price movements of the two assets would be highly similar.
Forward contracts give you a fixed cost for your foreign currency and therefore for your foreign currency purchasing. If the interest rates in the foreign country are higher than they are in the US, the forward rate is at a discount to the spot rate, and this reduces the dollar cost still more.
Forward contracts also have the advantage of being suitable for internal transactions. If your company exports to the country you are buying in, and wants to sell in local currency, purchasing in local currency reduces the company's currency exposure. The purchasing flow of funds offsets the sales office flow of funds. If an internal forward agreement is made between the two departments, only the difference between the two flows needs to be hedged at banks.
Options allow a buyer to take advantage of an increase in the value of the US dollar but protect against a decrease. Unfortunately, they are expensive. A six month option on a volatile currency typically costs about 5% and most people choose not to buy them. An added difficulty is that option prices for the European style options that buyers need are not well listed in financial newspapers.
Hedging does involve some risks, but they are limited and can be controlled with simple attention to the fundamentals. Risk arises from forecast inaccuracy, and can lead to unexpected price variations, either up or down. If a company over forecasts purchases and hedges with forwards, there will be larger profit or loss on the hedge than the variance on part cost.
With over forecasts, there will be a loss on forward contracts if the dollar strengthens and a gain if the dollar weakens. The total unexpected gain or loss will be approximately the percent over forecasted times the percent that the dollar changed. For example, a 20 % over forecast and a 15% currency strengthening will result in a 3% (15% of 20%) extra cost of the parts.
With under forecasts, some of the parts must be purchased at the spot rate without an offsetting hedge. If the dollar weakens, they will be more expensive and if it strengthens, they will be cheaper.
The biggest gains in currency management will come from choosing the right currency. A good negotiator should be able to get an initial price reduction of 5% or more against a volatile currency like the yen or the mark. The next most consequential decision is whether or not to hedge. Not hedging opens the buyer to dollar price swings that are often 20% in six months. This uncertainty is unacceptable to most companies.
The third decision is to choose a hedging strategy. A recent article in the International Journal of Purchasing and Materials Management showed the benefits of actively choosing a hedge strategy based on a Bayesian statistical analysis of probable outcomes. Over a five year period, actively choosing a hedge strategy would have saved 3.6 percent compared to paying in the supplier's currency (yen) without hedging, and 1.8 percent compared to always hedging with forwards. The authors did not consider options as a potential hedge strategy.
If buying in the supplier's currency without hedging is unacceptably risky, and buying in dollars is excessively expensive, the choice is between hedging with forwards and hedging with options.
If options were free, they would be the ideal choice, because they permit taking advantage of a stronger dollar and protect against a weaker dollar. However, options are not free, and almost always will be more expensive than forwards.
If you actively analyze probabilities of currency changes as the authors in the Journal recommend, and believe that the dollar will weaken, you should use forward contracts. They will give the same results as an option but at a lower cost. If you see no clear trend, make the choice based on relative costs. During two one-year periods when the dollar had no net change against the yen, options would have saved an average of 3.5% compared to forwards, before the costs of either.
If the difference in costs between an option and a forward contract is less than 3.5% and you predict no increase or decrease, consider buying an option.
If you predict a strengthening dollar, an option is the better choice. During a one year period of a strengthening dollar, options would have saved 7.71% compared to forward contracts.
Forex trading in the UK
In the United Kingdom, operations of Forex brokers are regulated by FSA - Financial Services Authority.
The Financial Services Authority is non-governmental, independent body, whose primary function is to make financial retail markets --that is, the markets that most of us use for trading-- work more efficiently. Their main goal is, essentially, to ensure that retail customers (that is, the little guys on the bottom of the financial dog-pile) get a fair deal.
Starting in 2004, the FSA has created a UK-wide strategy to build up the country's financial capability (in all markets, not just Forex), as well as raise confidence among consumers. In other words, they've put plenty of rules in place that make consumers more comfortable taking part in the market.
This affects UK brokers who work on behalf of residents in the UK in several ways. For one, according to FSA regulations, all legit Forex brokers must meet strict financial standards. These brokers are required to work with FSA financial regulators, submitting regular financial reports and proving that they follow regulations at all times. Brokerage firms who are found in violation are either fined or, in extreme cases, have their regulatory status terminated.
While strict rules may keep some good brokerage firms from operating in the UK, these harsh rules are generally pretty good for you. Since the FSA keeps records of any formal proceedings they've had to enter into against regulated firms, any information about rule breakers (that is, Forex brokers that you shouldn't trust) are kept on record. Simply by visiting the FSA website, you can find out if the firm you're considering using has had any serious problems or infractions. And that's very useful information - after all you can lose your money on the Forex market because of a bad broker.
The Financial Services Authority is non-governmental, independent body, whose primary function is to make financial retail markets --that is, the markets that most of us use for trading-- work more efficiently. Their main goal is, essentially, to ensure that retail customers (that is, the little guys on the bottom of the financial dog-pile) get a fair deal.
Starting in 2004, the FSA has created a UK-wide strategy to build up the country's financial capability (in all markets, not just Forex), as well as raise confidence among consumers. In other words, they've put plenty of rules in place that make consumers more comfortable taking part in the market.
This affects UK brokers who work on behalf of residents in the UK in several ways. For one, according to FSA regulations, all legit Forex brokers must meet strict financial standards. These brokers are required to work with FSA financial regulators, submitting regular financial reports and proving that they follow regulations at all times. Brokerage firms who are found in violation are either fined or, in extreme cases, have their regulatory status terminated.
While strict rules may keep some good brokerage firms from operating in the UK, these harsh rules are generally pretty good for you. Since the FSA keeps records of any formal proceedings they've had to enter into against regulated firms, any information about rule breakers (that is, Forex brokers that you shouldn't trust) are kept on record. Simply by visiting the FSA website, you can find out if the firm you're considering using has had any serious problems or infractions. And that's very useful information - after all you can lose your money on the Forex market because of a bad broker.
Forex trading in India
India has a rather strict foreign currency exchange policy - even though many liberalization measures have been taken recently, it's still an economically isolated, or highly protected country. Indian currency - rupee, is highly regulated by the national banking authority - Reserve Bank of India, and so Indian citizens still cannot freely exchange rupee to other currencies, they have to prove their need and there are annual limits for different needs (more). Even popular money transfer systems such as Western Union - which is spread worldwide and available to everyone, are forbidden in India - residents can only receive money, but not send.
However, because of the globalization there is a definite need to open the economy, so Reserve Bank of India has been softening rules and regulations in recent years.
One of the important changes in regards to Forex trading is that in year 2008 Reserve Bank of India has finally allowed currency futures trading. Speculative trading became a permissible operation too - since it became impossible to ask for a proof of a hedging need.
However, because of the globalization there is a definite need to open the economy, so Reserve Bank of India has been softening rules and regulations in recent years.
One of the important changes in regards to Forex trading is that in year 2008 Reserve Bank of India has finally allowed currency futures trading. Speculative trading became a permissible operation too - since it became impossible to ask for a proof of a hedging need.
Tuesday, June 29, 2010
Monday 28th June 2010
Venue: Ellis Park
Kick-off: 19:30
Score: 3 - 0
Cruise for Brazil
Brazil's relentless march to the latter stages of the World Cup continued with an effortless 3-0 victory over Chile.
A team combining a potent mix of physique, power and mouthwatering ability were hugely assured in a one-side dismissal of their fellow South Americans to line up a quarter-final with Holland on Friday.
The boys in the famous yellow and blue were in control from virtually the first whistle and goals by Juan, Luis Fabiano and Robinho confirmed their status as tournament favourites.
It has been no easy run for Brazil - they emerged from a 'Group of Death' unscathed and with reputations enhanced and on this evidence the Dutch will need to summon up the spirits of past greats if they are to challenge Dunga's men.
Kaka remains Brazil's talisman and the Real Madrid midfielder was impressive on his return from suspension, though he managed to pick up his third booking of the tournament after English referee Howard Webb was unimpressed with his trip on a Chile player.
After Juan had opened the scoring, punishing Chile for their failure to deal with Brazil's aerial threat at a corner from Maicon, Kaka was heavily involved in the second goal.
Robinho began the move with a burst down the left and an early ball into Kaka in the middle. One brilliant first-time pass split the Chile central defenders asunder and left Luis Fabiano able to skip past keeper Claudio Bravo and finish.
Credit too to English linesman Michael Mullarkey for a perfect call to judge the Seville striker onside.
The goal made up for Luis Fabiano having dragged his shot wide after being put in the clear by a super ball from Dani Alves.
Brazil had almost drawn first blood earlier through Gilberto Silva, proving in this match and not for the first time that Arsene Wenger committed a rare blunder in disposing of his services two years ago, who hit a fierce long-range effort that Bravo turned aside at full stretch.
Chile's main hope looked to be through the creative instincts of their gifted 21-year-old Alexis Sanchez, a player being watched by a number of Premier League clubs including Manchester United.
The Udinese player certainly provided Brazil with something to think about with a series of decent touches - one lovely pass for Humberto Suazo promised much but the striker did not match up with a disappointing effort to lob Julio Cesar.
Brazil could afford to take their foot off the gas at half-time, so minimal was the threat posed by the Marcelo Bielsa's Chileans, but they still managed to extend their lead.
Robinho was the man to strike just before the hour mark, curling it effortlessly past Bravo but he had Ramires to thank after a blistering run by the Benfica midfielder.
Alves hit a thunderbolt that must have had Bravo worried but it drifted just wide before Jorge Valdivia came as close as Chile had managed to a reply, teeing himself up and then firing just over from the edge of the box.
Kaka nearly claimed the goal his performance deserved after a surge down the left by Michel Bastos but was narrowly off target.
Bravo kept the score respectable by denying Robinho and then Suazo neatly turned Lucio - and not many players have done that this tournament - but Julio Cesar beat away his strike.
The game was up for Chile, however, and Dunga rubbed salt in the wound by taking off Kaka and sending on Kleberson - the player who flopped so dismally at Manchester United - to illustrate Brazil's overwhelming superiority
Venue: Ellis Park
Kick-off: 19:30
Score: 3 - 0
Cruise for Brazil
Brazil's relentless march to the latter stages of the World Cup continued with an effortless 3-0 victory over Chile.
A team combining a potent mix of physique, power and mouthwatering ability were hugely assured in a one-side dismissal of their fellow South Americans to line up a quarter-final with Holland on Friday.
The boys in the famous yellow and blue were in control from virtually the first whistle and goals by Juan, Luis Fabiano and Robinho confirmed their status as tournament favourites.
It has been no easy run for Brazil - they emerged from a 'Group of Death' unscathed and with reputations enhanced and on this evidence the Dutch will need to summon up the spirits of past greats if they are to challenge Dunga's men.
Kaka remains Brazil's talisman and the Real Madrid midfielder was impressive on his return from suspension, though he managed to pick up his third booking of the tournament after English referee Howard Webb was unimpressed with his trip on a Chile player.
After Juan had opened the scoring, punishing Chile for their failure to deal with Brazil's aerial threat at a corner from Maicon, Kaka was heavily involved in the second goal.
Robinho began the move with a burst down the left and an early ball into Kaka in the middle. One brilliant first-time pass split the Chile central defenders asunder and left Luis Fabiano able to skip past keeper Claudio Bravo and finish.
Credit too to English linesman Michael Mullarkey for a perfect call to judge the Seville striker onside.
The goal made up for Luis Fabiano having dragged his shot wide after being put in the clear by a super ball from Dani Alves.
Brazil had almost drawn first blood earlier through Gilberto Silva, proving in this match and not for the first time that Arsene Wenger committed a rare blunder in disposing of his services two years ago, who hit a fierce long-range effort that Bravo turned aside at full stretch.
Chile's main hope looked to be through the creative instincts of their gifted 21-year-old Alexis Sanchez, a player being watched by a number of Premier League clubs including Manchester United.
The Udinese player certainly provided Brazil with something to think about with a series of decent touches - one lovely pass for Humberto Suazo promised much but the striker did not match up with a disappointing effort to lob Julio Cesar.
Brazil could afford to take their foot off the gas at half-time, so minimal was the threat posed by the Marcelo Bielsa's Chileans, but they still managed to extend their lead.
Robinho was the man to strike just before the hour mark, curling it effortlessly past Bravo but he had Ramires to thank after a blistering run by the Benfica midfielder.
Alves hit a thunderbolt that must have had Bravo worried but it drifted just wide before Jorge Valdivia came as close as Chile had managed to a reply, teeing himself up and then firing just over from the edge of the box.
Kaka nearly claimed the goal his performance deserved after a surge down the left by Michel Bastos but was narrowly off target.
Bravo kept the score respectable by denying Robinho and then Suazo neatly turned Lucio - and not many players have done that this tournament - but Julio Cesar beat away his strike.
The game was up for Chile, however, and Dunga rubbed salt in the wound by taking off Kaka and sending on Kleberson - the player who flopped so dismally at Manchester United - to illustrate Brazil's overwhelming superiority
England out as Germany shine
Sunday 27th June 2010
Venue: Free State Stadium
Kick-off: 15:00
Score: 4 - 1
England suffered the pain of German revenge as Fabio Capello's men made a controversial World Cup exit with a 4-1 defeat.
The Three Lions had hoped 44 years of hurt would end in South Africa. It did. German hurt.
When Frank Lampard's first-half shot crashed off the bar and bounced a clear two feet over the line, only for assistant Mauricio Espinosa to miss it, grainy images of England's controversial third at Wembley in 1966 immediately sprang to mind.
To his total disbelief, Capello's celebrations of what would have been an equaliser were cut short. Everyone in the ground, except the men who mattered, knew what had happened.
Germany made the most of their good fortune, as England did back then, to book a quarter-final place with what turned out to be their biggest win over a rival they have not lost to in a major tournament since that fateful day and the Three Lions biggest defeat in Finals combat.
Miroslav Klose and Lukas Podolski's first half-goals were doubled by a pair from the excellent Thomas Muller after the break.
But no-one will be talking about them on the streets of England. Nor will they discuss a Matthew Upson header that brought the Three Lions back into it.
Eventually they might get round to the clear defensive deficiencies in a team Capello claimed was good enough to reach the final.
But tonight, all they will snarl and rage at his how on earth Lampard's shot was missed. The stench will tinge the remainder of a tournament England will play no part of.
In a stormy few weeks, Franz Beckenbauer's first attempt to stoke Anglo-German relations came when he branded England a long-ball team.
Yet a true exponent of the art would surely be pretty good at defending it.
England had already been warned. One long punt down field from David James required a single bounce to rocket over the goal-line.
So there was no excuse for John Terry being so far up field when Manuel Neuer launched the ball from his six-yard line that he was taken completely out of the play by its flight.
Upson was left one-on-one with Klose and had neither agility, nor the strength to prevent the striker advancing on James and poking the ball into the England goal.
It was the start of an exceptionally uncomfortable period for Capello's side as Germany rampaged right through the heart of their midfield almost at will.
Mesut Ozil was an obvious problem, but Muller - the 20-year-old who helped destroy Manchester United with Bayern Munich this term - was emerging as the real danger man.
When he skipped off the right flank onto Klose's short pass, the English defence was again ripped to shreds.
Despite his tender years, Muller retained a cool enough head to flick the ball square to Podolski, whose finish, from a tight angle, went straight through James' legs and in off the post.
As James had already made two feet-first saves as German eyes lit up at a clear sight of goal, it seemed there was no way back for a team being completely outmanoeuvred.
Yet in a confrontation dripping with history, nothing is really new.
For two goal comebacks, think Leon 1970, when Sir Alf Ramsey made the fateful mistake of whisking off Bobby Charlton with a semi-final place supposedly assured.
Upson's reaction header from Steven Gerrard's cross brought that dream a bit closer to being realised.
As they celebrated, little did England know that within 60 seconds their opponents were about to enjoy the ultimate act of revenge.
It is frankly ludicrous that Sepp Blatter and his FIFA mandarins continue to shrug their shoulders at such injustices as the one Lampard suffered when the entire stadium, through all manner of new technology, knew within minutes the ball had crashed off Neuer's bar and bounced at least two feet over the line.
It was not even close, which is what David Beckham was presumably telling the South American officials as they made their way off at half-time.
Within seven minutes of the restart England were suffering again as Lampard let fly from fully 35 yards with a free-kick that again shook Neuer's crossbar. At least this time there was no claim for a goal.
It sparked a frenzied second half though, by far the most compelling period of play in the entire tournament, Germany defending manically, then trying to break on the counter.
Bastian Schweinsteiger had already come close to killing the game when another Lampard free-kick cannoned off the wall. Gareth Barry was robbed, Muller set Schweinsteiger free and began a run that ended with him burying England's dream.
Germany were not finished. With their opponents committed to desperate attack, Ozil raced past Barry with alarming ease and presented a gleeful Muller with a tap-in.
Four goals for the victors. Just like 66.
end
Venue: Free State Stadium
Kick-off: 15:00
Score: 4 - 1
England suffered the pain of German revenge as Fabio Capello's men made a controversial World Cup exit with a 4-1 defeat.
The Three Lions had hoped 44 years of hurt would end in South Africa. It did. German hurt.
When Frank Lampard's first-half shot crashed off the bar and bounced a clear two feet over the line, only for assistant Mauricio Espinosa to miss it, grainy images of England's controversial third at Wembley in 1966 immediately sprang to mind.
To his total disbelief, Capello's celebrations of what would have been an equaliser were cut short. Everyone in the ground, except the men who mattered, knew what had happened.
Germany made the most of their good fortune, as England did back then, to book a quarter-final place with what turned out to be their biggest win over a rival they have not lost to in a major tournament since that fateful day and the Three Lions biggest defeat in Finals combat.
Miroslav Klose and Lukas Podolski's first half-goals were doubled by a pair from the excellent Thomas Muller after the break.
But no-one will be talking about them on the streets of England. Nor will they discuss a Matthew Upson header that brought the Three Lions back into it.
Eventually they might get round to the clear defensive deficiencies in a team Capello claimed was good enough to reach the final.
But tonight, all they will snarl and rage at his how on earth Lampard's shot was missed. The stench will tinge the remainder of a tournament England will play no part of.
In a stormy few weeks, Franz Beckenbauer's first attempt to stoke Anglo-German relations came when he branded England a long-ball team.
Yet a true exponent of the art would surely be pretty good at defending it.
England had already been warned. One long punt down field from David James required a single bounce to rocket over the goal-line.
So there was no excuse for John Terry being so far up field when Manuel Neuer launched the ball from his six-yard line that he was taken completely out of the play by its flight.
Upson was left one-on-one with Klose and had neither agility, nor the strength to prevent the striker advancing on James and poking the ball into the England goal.
It was the start of an exceptionally uncomfortable period for Capello's side as Germany rampaged right through the heart of their midfield almost at will.
Mesut Ozil was an obvious problem, but Muller - the 20-year-old who helped destroy Manchester United with Bayern Munich this term - was emerging as the real danger man.
When he skipped off the right flank onto Klose's short pass, the English defence was again ripped to shreds.
Despite his tender years, Muller retained a cool enough head to flick the ball square to Podolski, whose finish, from a tight angle, went straight through James' legs and in off the post.
As James had already made two feet-first saves as German eyes lit up at a clear sight of goal, it seemed there was no way back for a team being completely outmanoeuvred.
Yet in a confrontation dripping with history, nothing is really new.
For two goal comebacks, think Leon 1970, when Sir Alf Ramsey made the fateful mistake of whisking off Bobby Charlton with a semi-final place supposedly assured.
Upson's reaction header from Steven Gerrard's cross brought that dream a bit closer to being realised.
As they celebrated, little did England know that within 60 seconds their opponents were about to enjoy the ultimate act of revenge.
It is frankly ludicrous that Sepp Blatter and his FIFA mandarins continue to shrug their shoulders at such injustices as the one Lampard suffered when the entire stadium, through all manner of new technology, knew within minutes the ball had crashed off Neuer's bar and bounced at least two feet over the line.
It was not even close, which is what David Beckham was presumably telling the South American officials as they made their way off at half-time.
Within seven minutes of the restart England were suffering again as Lampard let fly from fully 35 yards with a free-kick that again shook Neuer's crossbar. At least this time there was no claim for a goal.
It sparked a frenzied second half though, by far the most compelling period of play in the entire tournament, Germany defending manically, then trying to break on the counter.
Bastian Schweinsteiger had already come close to killing the game when another Lampard free-kick cannoned off the wall. Gareth Barry was robbed, Muller set Schweinsteiger free and began a run that ended with him burying England's dream.
Germany were not finished. With their opponents committed to desperate attack, Ozil raced past Barry with alarming ease and presented a gleeful Muller with a tap-in.
Four goals for the victors. Just like 66.
end
Argentina march on
Sunday 27th June 2010
Venue: Soccer City
Kick-off: 19:30
Score: 3 - 1
Two goals by Carlos Tevez - one hugely-controversial and the other a wonderful strike - sent Argentina through to the quarter-finals with a 3-1 win against a spirited Mexico side.
On a day to forget for match officials, the Manchester City striker benefited from an offside decision blunder that was so blatant it ranked alongside the one that denied Frank Lampard in the England game four hours previously.
The offside rule states there should be two players between the striker and the goal - there was not even one when Lionel Messi's ball found Tevez's head, and then the net to put Diego Maradona's side in front.
After the replay flashed up on the big screen angry Mexico players surrounded the Italian referee Roberto Rosetti and linesman Stefano Ayroldi but the goal stood.
Mexico went into meltdown and a defensive howler by Ricardo Osorio allowed Gonzalo Higuain to make it 2-0.
It was Tevez who sewed the match up in brilliant fashion - and legitimately this time - early in the second half with Mexico left only to savour a stunning reply by Manchester United's new signing Javier Hernandez.
Until Tevez's opener Mexico had looked the better side in this clash between the Latin Americans who had fought out a terrific contest at the same stage of the 2006 finals.
That went to extra time but once again Javier Aguirre's men showed themselves to be a classy but unfortunate outfit.
Two incidents within the opening 10 minutes had Argentinian hearts in mouths. First Carlos Salcido crashed in a thunderous drive from 30 yards that Sergio Romero just touched onto the crossbar, then an equally terrific strike by Andres Guardado whisked agonisingly past the post.
For Argentina, Messi, still looking for his first goal of the tournament, had two efforts from similar positions on the left of the area, but one was blocked and the other easily held by Oscar Perez. Messi should perhaps have passed to an unmarked team-mate - maybe that elusive goal was haunting him.
Hernandez, who increasingly looks an astute signing by Sir Alex Ferguson, turned away from his marker and slammed a shot wide but then came Tevez's offside goal and Mexico lost their heads.
First skipper Rafael Marquez earned himself a needless booking for showing his frustration, then there was real calamity when Osorio scuffed a pass across the edge of his own box, Higuain seized onto the ball and kept his cool to round Perez neatly and slide home.
Salcido raised Mexican hopes with another long-range strike, this time parried by Romero, before Angel di Maria and Tevez nearly scored but were kept at bay by desperate blocks.
Higuain really should have made it 3-0 but somehow the Real Madrid striker put a free header wide from only six yards out.
There was an unseemly melee around the officials as the teams left the pitch at half-time, with Maradona finding himself in the unusual position of peacemaker.
Any hopes Mexico had ended soon after the restart thanks to Tevez's 52nd-minute blistering strike into the top corner from 25 yards out.
Tevez ran to the bench for a wild embrace with Maradona that seem to last an eternity.
It was left to Hernandez to rescue some pride for Mexico. The 22-year-old had just sent a header over despite being unmarked, but then he left Martin Demichelis standing with a superb turn and lashed the ball high past Romero to give Mexico a slim lifeline.
It probably shaded Tevez's strike and will go down as one of the goals of the tournament.
Argentina shut up shop after that and Mexico barely had another sniff.
Messi's increasingly desperate search for a goal continued as Perez denied him in injury time.
As for Maradona, his amazing story continues.
Venue: Soccer City
Kick-off: 19:30
Score: 3 - 1
Two goals by Carlos Tevez - one hugely-controversial and the other a wonderful strike - sent Argentina through to the quarter-finals with a 3-1 win against a spirited Mexico side.
On a day to forget for match officials, the Manchester City striker benefited from an offside decision blunder that was so blatant it ranked alongside the one that denied Frank Lampard in the England game four hours previously.
The offside rule states there should be two players between the striker and the goal - there was not even one when Lionel Messi's ball found Tevez's head, and then the net to put Diego Maradona's side in front.
After the replay flashed up on the big screen angry Mexico players surrounded the Italian referee Roberto Rosetti and linesman Stefano Ayroldi but the goal stood.
Mexico went into meltdown and a defensive howler by Ricardo Osorio allowed Gonzalo Higuain to make it 2-0.
It was Tevez who sewed the match up in brilliant fashion - and legitimately this time - early in the second half with Mexico left only to savour a stunning reply by Manchester United's new signing Javier Hernandez.
Until Tevez's opener Mexico had looked the better side in this clash between the Latin Americans who had fought out a terrific contest at the same stage of the 2006 finals.
That went to extra time but once again Javier Aguirre's men showed themselves to be a classy but unfortunate outfit.
Two incidents within the opening 10 minutes had Argentinian hearts in mouths. First Carlos Salcido crashed in a thunderous drive from 30 yards that Sergio Romero just touched onto the crossbar, then an equally terrific strike by Andres Guardado whisked agonisingly past the post.
For Argentina, Messi, still looking for his first goal of the tournament, had two efforts from similar positions on the left of the area, but one was blocked and the other easily held by Oscar Perez. Messi should perhaps have passed to an unmarked team-mate - maybe that elusive goal was haunting him.
Hernandez, who increasingly looks an astute signing by Sir Alex Ferguson, turned away from his marker and slammed a shot wide but then came Tevez's offside goal and Mexico lost their heads.
First skipper Rafael Marquez earned himself a needless booking for showing his frustration, then there was real calamity when Osorio scuffed a pass across the edge of his own box, Higuain seized onto the ball and kept his cool to round Perez neatly and slide home.
Salcido raised Mexican hopes with another long-range strike, this time parried by Romero, before Angel di Maria and Tevez nearly scored but were kept at bay by desperate blocks.
Higuain really should have made it 3-0 but somehow the Real Madrid striker put a free header wide from only six yards out.
There was an unseemly melee around the officials as the teams left the pitch at half-time, with Maradona finding himself in the unusual position of peacemaker.
Any hopes Mexico had ended soon after the restart thanks to Tevez's 52nd-minute blistering strike into the top corner from 25 yards out.
Tevez ran to the bench for a wild embrace with Maradona that seem to last an eternity.
It was left to Hernandez to rescue some pride for Mexico. The 22-year-old had just sent a header over despite being unmarked, but then he left Martin Demichelis standing with a superb turn and lashed the ball high past Romero to give Mexico a slim lifeline.
It probably shaded Tevez's strike and will go down as one of the goals of the tournament.
Argentina shut up shop after that and Mexico barely had another sniff.
Messi's increasingly desperate search for a goal continued as Perez denied him in injury time.
As for Maradona, his amazing story continues.
Thursday, June 24, 2010
Brawn: Mercedes are almost there!
Ross Brawn believes Mercedes GP are a small step away from becoming race winners.
The closest last year's Formula One world champions have come to a victory has been the two third-place finishes from Nico Rosberg in Malaysia and China.
Whilst team-mate Michael Schumacher has often faltered and appeared unconvincing on his return to F1 this season, Rosberg has at least been consistent.
The younger German has finished anywhere between third and seventh in all but one of the eight grands prix, earning rave reviews and plaudits for his performances.
Team principal Brawn, however, knows it is time one of his drivers was standing on top of the podium, but is acutely aware the margins between such a position and out of the top three is small.
"With the new points system this year we are still within striking distance of the championship leaders and we will continue with our efforts to become more competitive," said Brawn.
"We have a number of the basics right and the difference between winning and losing is small. We need to close that difference."
That may yet be this weekend as the team will be sporting a number of updates they hope will propel them closer to the front.
"Looking ahead to Valencia, the circuit is similar to Montreal (for the Canadian Grand Prix) in many ways with long straights connected by slow corners which should suit our car," added Brawn.
"We have an upgrade package which will be another good step in our development towards competing at the front of the field."
The race is an unusual one for Schumacher as he ventures into the unknown in comparison to all his major rivals.
The venue only appeared on the F1 calendar for the first time two years ago when Schumacher was still happily in retirement.
The 41-year-old was due to make his comeback in Valencia last year with Ferrari, only for a long-standing neck injury to deny him the opportunity.
Despite his lack of experience, the seven-times champion is ready to rise to the challenge, even if his performance in Canada gave rise to the suggestion he is a driver significantly off the pace.
"Valencia is a track I have never raced on before so it will be another new experience for me, but one I am looking forward to," said Schumacher.
"I have always been quite good in adapting quickly to new situations, and I strongly expect that to be the case in Valencia.
"I like going into new experiences like this and having detailed discussions with my engineers about the challenge.
"We will bring further updates for our car which should help to improve the performance."
The closest last year's Formula One world champions have come to a victory has been the two third-place finishes from Nico Rosberg in Malaysia and China.
Whilst team-mate Michael Schumacher has often faltered and appeared unconvincing on his return to F1 this season, Rosberg has at least been consistent.
The younger German has finished anywhere between third and seventh in all but one of the eight grands prix, earning rave reviews and plaudits for his performances.
Team principal Brawn, however, knows it is time one of his drivers was standing on top of the podium, but is acutely aware the margins between such a position and out of the top three is small.
"With the new points system this year we are still within striking distance of the championship leaders and we will continue with our efforts to become more competitive," said Brawn.
"We have a number of the basics right and the difference between winning and losing is small. We need to close that difference."
That may yet be this weekend as the team will be sporting a number of updates they hope will propel them closer to the front.
"Looking ahead to Valencia, the circuit is similar to Montreal (for the Canadian Grand Prix) in many ways with long straights connected by slow corners which should suit our car," added Brawn.
"We have an upgrade package which will be another good step in our development towards competing at the front of the field."
The race is an unusual one for Schumacher as he ventures into the unknown in comparison to all his major rivals.
The venue only appeared on the F1 calendar for the first time two years ago when Schumacher was still happily in retirement.
The 41-year-old was due to make his comeback in Valencia last year with Ferrari, only for a long-standing neck injury to deny him the opportunity.
Despite his lack of experience, the seven-times champion is ready to rise to the challenge, even if his performance in Canada gave rise to the suggestion he is a driver significantly off the pace.
"Valencia is a track I have never raced on before so it will be another new experience for me, but one I am looking forward to," said Schumacher.
"I have always been quite good in adapting quickly to new situations, and I strongly expect that to be the case in Valencia.
"I like going into new experiences like this and having detailed discussions with my engineers about the challenge.
"We will bring further updates for our car which should help to improve the performance."
Resurgent Danes send Cameroon out
Saturday 19th June 2010
Venue: Loftus Versfeld Stadium
Kick-off: 19:30
Score: 1 - 2
Resurgent Danes send Cameroon out
Denmark hit back from an early deficit to re-ignite their World Cup challenge and in the process extinguish Cameroon's chances of getting through to the last 16 with a 2-1 win.
In what was a hugely entertaining encounter between the bottom two teams in Group E in Pretoria, Cameroon took the lead in the 10th minute through captain Samuel Eto'o following a bad defensive error by Christian Poulsen.
Denmark recovered from that setback though, and goals from Nicklas Bendtner and the dangerous Dennis Rommedahl in either half earned the Scandinavians a hard-fought victory.
The result means that Denmark join their next opponents Japan on three points, while group leaders Holland are now guaranteed a top-two finish - making them the first team to progress.
For battling Cameroon though, the defeat sees them become the first side to bid farewell to the World Cup after losing both their opening two games.
Denmark coach Morten Olsen made two changes to the side that lost to Holland, bringing in fit-again captain Jon Dahl Tomasson and Jesper Gronkjaer.
Bendtner also took his place in the starting line-up for the second successive game despite struggling with a groin injury that means he can only train every other day and only having lasted an hour against the Dutch.
Cameroon coach Paul Le Guen, meanwhile, drafted in Geremi, Achille Emana and Alexandre Song as the Indomitable Lions sought to end an eight-game winless streak stretching back to the African Nations Cup.
Denmark, who had lost their previous three games without scoring a goal, had the first opportunity but Rommedahl fired over after breaking the offside trap in the sixth minute.
The Ajax winger should have done better with that, and four minutes later Eto'o showed him how it should be done by putting Cameroon ahead following a bad defensive error by Christian Poulsen.
Poulsen picked up possession from his goalkeeper Thomas Sorensen on the edge of the box and then attempted to find Simon Kjaer with a first-time pass without looking up.
The pass was intercepted by Emana, who quickly picked out the unmarked Eto'o in the middle and the Inter Milan star took one touch before drilling a low shot past Sorensen.
That was another bad goal for the Danes to concede following the own goal by Daniel Agger against Holland, when Simon Poulsen's attempted headed clearance hit the Liverpool defender before going in.
The Danes were back on level terms just after the half-hour mark at Loftus Versfeld stadium, though.
Cameroon goalkeeper Souleymanou Hamidou had done well to deny Tomasson earlier but he could do nothing about the equaliser as his defence were cut open far too easily.
A superb long ball from inside his own half by Kjaer just cleared Benoit Assou-Ekotto and fell perfectly for the flying Rommedahl, and his low ball into the centre was slid home by Bendtner from eight yards.
Both sides had chances to snatch the lead during a hectic spell just prior to half-time.
For Denmark, Rommedahl could not take advantage of getting clear once again before, from the same attack, Tomasson saw a goal-bound shot blocked.
Then for Cameroon, Eto'o fired against the post following another defensive mistake, while Emana was denied by Sorensen after bursting through the two Danish centre-backs.
The all-action encounter continued apace at the start of the second half when Stephane M'bia and Kjaer both brought fingertip saves out of their opposing goalkeepers.
Cameroon striker Pierre Webo then blazed a decent opening high into the stands before also being denied by Sorensen as the African side looked to be taking control.
However, it was Denmark who got the next goal through the dangerous Rommedahl in the 61st minute.
Bendtner's pass put Rommedahl away down the right and the 31-year-old cut inside Jean Makoun before curling a low left-footed shot past Hamidou. That left Cameroon staring World Cup elimination in the face, and they almost fell 3-1 behind in the 71st minute, Hamidou coming to their rescue to superbly keep out Tomasson's effort.
Sorensen then produced an even better save six minutes later, diving low to his right to parry away Emana's shot.
Cameroon laid siege to Sorensen's goal in the closing stages, but they could find no way through as Denmark held on for the points.
Venue: Loftus Versfeld Stadium
Kick-off: 19:30
Score: 1 - 2
Resurgent Danes send Cameroon out
Denmark hit back from an early deficit to re-ignite their World Cup challenge and in the process extinguish Cameroon's chances of getting through to the last 16 with a 2-1 win.
In what was a hugely entertaining encounter between the bottom two teams in Group E in Pretoria, Cameroon took the lead in the 10th minute through captain Samuel Eto'o following a bad defensive error by Christian Poulsen.
Denmark recovered from that setback though, and goals from Nicklas Bendtner and the dangerous Dennis Rommedahl in either half earned the Scandinavians a hard-fought victory.
The result means that Denmark join their next opponents Japan on three points, while group leaders Holland are now guaranteed a top-two finish - making them the first team to progress.
For battling Cameroon though, the defeat sees them become the first side to bid farewell to the World Cup after losing both their opening two games.
Denmark coach Morten Olsen made two changes to the side that lost to Holland, bringing in fit-again captain Jon Dahl Tomasson and Jesper Gronkjaer.
Bendtner also took his place in the starting line-up for the second successive game despite struggling with a groin injury that means he can only train every other day and only having lasted an hour against the Dutch.
Cameroon coach Paul Le Guen, meanwhile, drafted in Geremi, Achille Emana and Alexandre Song as the Indomitable Lions sought to end an eight-game winless streak stretching back to the African Nations Cup.
Denmark, who had lost their previous three games without scoring a goal, had the first opportunity but Rommedahl fired over after breaking the offside trap in the sixth minute.
The Ajax winger should have done better with that, and four minutes later Eto'o showed him how it should be done by putting Cameroon ahead following a bad defensive error by Christian Poulsen.
Poulsen picked up possession from his goalkeeper Thomas Sorensen on the edge of the box and then attempted to find Simon Kjaer with a first-time pass without looking up.
The pass was intercepted by Emana, who quickly picked out the unmarked Eto'o in the middle and the Inter Milan star took one touch before drilling a low shot past Sorensen.
That was another bad goal for the Danes to concede following the own goal by Daniel Agger against Holland, when Simon Poulsen's attempted headed clearance hit the Liverpool defender before going in.
The Danes were back on level terms just after the half-hour mark at Loftus Versfeld stadium, though.
Cameroon goalkeeper Souleymanou Hamidou had done well to deny Tomasson earlier but he could do nothing about the equaliser as his defence were cut open far too easily.
A superb long ball from inside his own half by Kjaer just cleared Benoit Assou-Ekotto and fell perfectly for the flying Rommedahl, and his low ball into the centre was slid home by Bendtner from eight yards.
Both sides had chances to snatch the lead during a hectic spell just prior to half-time.
For Denmark, Rommedahl could not take advantage of getting clear once again before, from the same attack, Tomasson saw a goal-bound shot blocked.
Then for Cameroon, Eto'o fired against the post following another defensive mistake, while Emana was denied by Sorensen after bursting through the two Danish centre-backs.
The all-action encounter continued apace at the start of the second half when Stephane M'bia and Kjaer both brought fingertip saves out of their opposing goalkeepers.
Cameroon striker Pierre Webo then blazed a decent opening high into the stands before also being denied by Sorensen as the African side looked to be taking control.
However, it was Denmark who got the next goal through the dangerous Rommedahl in the 61st minute.
Bendtner's pass put Rommedahl away down the right and the 31-year-old cut inside Jean Makoun before curling a low left-footed shot past Hamidou. That left Cameroon staring World Cup elimination in the face, and they almost fell 3-1 behind in the 71st minute, Hamidou coming to their rescue to superbly keep out Tomasson's effort.
Sorensen then produced an even better save six minutes later, diving low to his right to parry away Emana's shot.
Cameroon laid siege to Sorensen's goal in the closing stages, but they could find no way through as Denmark held on for the points.
Landon lands knockout blow
Wednesday 23rd June 2010
Venue: Loftus Versfeld Stadium
Kick-off: 15:00
Score: 1 - 0
Landon Donovan struck an injury-time winner as the United States sensationally progressed through to the last 16 of the World Cup with a deserved win 1-0 over Algeria, who crash out.
The United States, watched on by former President Bill Clinton, dominated for large periods and created a host of chances but looked set to be denied by a mixture of the woodwork, good goalkeeping and poor finishing.
However, Donovan popped up right at the end to slot into the net to send the Americans through as Group C winners ahead of England, who beat Slovenia in the other game, The United States will now play the second-placed team from Group D, which includes Ghana, Germany, Serbia and Australia.
For Algeria, who have never progressed to the last 16 of the World Cup, they hit the woodwork early on and created a couple of other chances but were unable to net their first goal of the finals as they tumbled out.
They also finished with 10 men after captain Anthar Yahia was sent off for a second booking late on in Pretoria.
Algeria coach Rabah Saadane, knowing his side could not afford a third successive match without a goal, made one change to the team that held England 0-0, bringing in AEK Athens striker Rafik Djebbour for Ryad Boudebouz.
USA boss Bob Bradley, meanwhile, made three changes. Algeria started brightly and almost took the lead in the sixth minute when Djebbour rattled the crossbar.
US defender Jay DeMerit failed to cut out a long punt forward and Djebbour stole in behind him, controlled the ball on his chest before smashing a volley against the crossbar from 12 yards out.
It was also a big let-off for the Americans, but Bradley's side would return the favour with interest during the remainder of the period as they spurned a number of good chances themselves.
Herculez Gomez brought a save out of Rais M'Bohli, before the US thought they had taken the lead in the 20th minute when Gomez, having seen his first effort saved, saw his cross-shot turned in at the far post by Clint Dempsey.
However, the effort was chalked off for a marginal offside.
The Americans were denied a winning goal in their last match against Slovenia when Maurice Edu's late strike was controversially chalked off.
After a slow start, the US were starting to look increasingly dangerous and they created two great chances around the 35th minute.
Dempsey saw the first saved by M'Bohli after being put through by a great pass by Donovan, and then Jozy Altidore blazed horribly over after the influential Donovan had dinked the ball past M'Bohli to set up a magnificent opening.
The Desert Foxes were still posing problems of their own though, and Karim Matmour earned a corner after testing Tim Howard with a long-range thunderbolt as the half ended in stalemate.
With England leading Slovenia in the other game, both the US and Algeria were on their way out of the World Cup at the interval.
The Americans should have improved their lot in the 56th minute though as they spurned another great chance.
The ball fell invitingly for Dempsey on the edge of the box, but his shot rebounded back off the inside of the far post before the Fulham midfielder sliced the rebound wide with the goal gaping.
Bradley's side continued to dominate and Benny Feilhaber went close before his fellow substitute Edson Buddle powered a header straight at M'Bohli from five yards out.
Algeria briefly stemmed the one-way traffic when Karim Ziani dragged a shot wide from a good chance in the 69th minute, but otherwise it was largely all America.
Algeria had a late chance to snatch what could have been a winner when Rafik Saifi headed straight at Howard, and moments after that the US claimed the victory.
Dempsey was just unable to slot home after a breakaway attack, but the ball fell kindly for Donovan who slotted into a gaping net from close range.
That proved to be the winner and demoralised Algeria would end the game with 10 men when Yahia was dismissed soon after.
Venue: Loftus Versfeld Stadium
Kick-off: 15:00
Score: 1 - 0
Landon Donovan struck an injury-time winner as the United States sensationally progressed through to the last 16 of the World Cup with a deserved win 1-0 over Algeria, who crash out.
The United States, watched on by former President Bill Clinton, dominated for large periods and created a host of chances but looked set to be denied by a mixture of the woodwork, good goalkeeping and poor finishing.
However, Donovan popped up right at the end to slot into the net to send the Americans through as Group C winners ahead of England, who beat Slovenia in the other game, The United States will now play the second-placed team from Group D, which includes Ghana, Germany, Serbia and Australia.
For Algeria, who have never progressed to the last 16 of the World Cup, they hit the woodwork early on and created a couple of other chances but were unable to net their first goal of the finals as they tumbled out.
They also finished with 10 men after captain Anthar Yahia was sent off for a second booking late on in Pretoria.
Algeria coach Rabah Saadane, knowing his side could not afford a third successive match without a goal, made one change to the team that held England 0-0, bringing in AEK Athens striker Rafik Djebbour for Ryad Boudebouz.
USA boss Bob Bradley, meanwhile, made three changes. Algeria started brightly and almost took the lead in the sixth minute when Djebbour rattled the crossbar.
US defender Jay DeMerit failed to cut out a long punt forward and Djebbour stole in behind him, controlled the ball on his chest before smashing a volley against the crossbar from 12 yards out.
It was also a big let-off for the Americans, but Bradley's side would return the favour with interest during the remainder of the period as they spurned a number of good chances themselves.
Herculez Gomez brought a save out of Rais M'Bohli, before the US thought they had taken the lead in the 20th minute when Gomez, having seen his first effort saved, saw his cross-shot turned in at the far post by Clint Dempsey.
However, the effort was chalked off for a marginal offside.
The Americans were denied a winning goal in their last match against Slovenia when Maurice Edu's late strike was controversially chalked off.
After a slow start, the US were starting to look increasingly dangerous and they created two great chances around the 35th minute.
Dempsey saw the first saved by M'Bohli after being put through by a great pass by Donovan, and then Jozy Altidore blazed horribly over after the influential Donovan had dinked the ball past M'Bohli to set up a magnificent opening.
The Desert Foxes were still posing problems of their own though, and Karim Matmour earned a corner after testing Tim Howard with a long-range thunderbolt as the half ended in stalemate.
With England leading Slovenia in the other game, both the US and Algeria were on their way out of the World Cup at the interval.
The Americans should have improved their lot in the 56th minute though as they spurned another great chance.
The ball fell invitingly for Dempsey on the edge of the box, but his shot rebounded back off the inside of the far post before the Fulham midfielder sliced the rebound wide with the goal gaping.
Bradley's side continued to dominate and Benny Feilhaber went close before his fellow substitute Edson Buddle powered a header straight at M'Bohli from five yards out.
Algeria briefly stemmed the one-way traffic when Karim Ziani dragged a shot wide from a good chance in the 69th minute, but otherwise it was largely all America.
Algeria had a late chance to snatch what could have been a winner when Rafik Saifi headed straight at Howard, and moments after that the US claimed the victory.
Dempsey was just unable to slot home after a breakaway attack, but the ball fell kindly for Donovan who slotted into a gaping net from close range.
That proved to be the winner and demoralised Algeria would end the game with 10 men when Yahia was dismissed soon after.
England progress with win
Wednesday 23rd June 2010
Venue: Nelson Mandela Bay Stadium
Kick-off: 15:00
Score: 0 - 1
After a turbulent week, a hug of unity at the end as England dragged themselves away from the World Cup abyss and back on the path to glory with a 1-0 win over Slovenia.
Jermain Defoe nudged home the first-half winner that propelled the Three Lions into the last 16.
Landon Donovan's injury-time effort in Pretoria meant the outcome was not exactly what England wanted, as it sends them to Bloemfontein on Sunday and leaves them in the same quarter of the draw as Diego Maradona's dangerous Argentinians.
But the main thing is they are still there, and Fabio Capello can at least look back on the result with satisfaction, given his decision to select Defoe above the non-scoring talents of Emile Heskey.
But there was so much more to cherish.
With the notable exception of Wayne Rooney, who did not look impressed to be replaced by Joe Cole, and the fact their goals difference read only one, England found themselves again, producing all the verve and fire their manager knows they are so capable of.
Days of rancour gave way to the sheer exhilaration of seeing a team play in the manner of old and though their profligacy ensured there were some nervy moments to survive before victory could be achieved, in the end they made it.
The men who combined to give England that crucial, crucial goal were both exorcising a personal ghost.
It has almost been forgotten it is so long ago but right at the beginning of England's World Cup, Defoe was a starter for Capello.
Hauled off after a goalless 45 minutes against Andorra in Barcelona, Defoe was condemned to the role of impact substitute for the remainder of the qualifiers, admittedly scoring three times in the process.
Milner's wound is much fresher. Always a Capello favourite, the Aston Villa man was asked to plug a hole on the left of England's midfield for the opening encounter with the United States.
Given a right old chasing by Carlos Bocanegra, the 24-year-old was hauled off after half an hour and must have wondered if he would see any more action in South Africa.
Capello is intensely loyal though. Deciding he needed more solidity defensively than Aaron Lennon can provide, the Italian turned to Milner for the right-sided role.
His early contribution was riddled with mistakes. But the cross he swung deep into the Slovenia box midway through that opening period was almost Beckham-esque.
Defoe had made his way into the danger zone, like any instinctive marksman would, got just in front of Marko Suler and stuck out his leg, prodding the ball goalwards with enough power to get it past Samir Handanovic, who did nearly make a save.
It had taken Defoe 23 minutes to achieve what Heskey had managed once in eight years; a competitive goal.
Visibly, the pressure lifted from English shoulders.
The high-tempo, quick passing, tigerish pressing game Capello had yearned for, and which temperatures of a South African winter suit so well suddenly appeared, and so did the opportunities.
Frank Lampard and skipper Steven Gerrard had the first couple before half-time, the Liverpool man knowing he would have scored if he had put more power behind a side-footed effort that failed to beat Handanovic after a hitherto quiet Rooney had provided the superb square ball.
Capello cut a frustrated figure when, eight yards out and completely unmarked, Defoe made no contact after Barry had lofted a pass into a Slovenia penalty area in a state of confusion thanks to some selfless running from Rooney.
John Terry brought a brilliant save out of Handanovic when he rose to meet Barry's corner at the far post before Rooney struck the base of a post after his unchecked run into the penalty area had been spotted by Lampard.
It was sumptuous fare lifted directly from the Premier League, the kind of football that prompted Capello to make his "crazy" claim that England could reach the final of this grand and prestigious tournament in Soccer City on July 11.
In a week for apologies and forgiveness, the England supporters responded by showing they bore no hard feelings for Rooney's rant in Cape Town by chanting his name with gusto, although on the second occasion it was for their talisman's exit - unhappily - to make way for Joe Cole to make his long-awaited bow.
Amid the euphoria at finding a team, one fairly large problem was being overlooked. England's lead remained stuck at one and could so easily be snatched away.
Had first Terry, then Glen Johnson, not thrown themselves in front of Slovenian shots, the smallest country in the tournament would have had their equaliser and England would have been out.
For Slovenia, events elsewhere would give them cause for huge regret. For England, pride was restored - and a sigh of relief could be breathed.
Venue: Nelson Mandela Bay Stadium
Kick-off: 15:00
Score: 0 - 1
After a turbulent week, a hug of unity at the end as England dragged themselves away from the World Cup abyss and back on the path to glory with a 1-0 win over Slovenia.
Jermain Defoe nudged home the first-half winner that propelled the Three Lions into the last 16.
Landon Donovan's injury-time effort in Pretoria meant the outcome was not exactly what England wanted, as it sends them to Bloemfontein on Sunday and leaves them in the same quarter of the draw as Diego Maradona's dangerous Argentinians.
But the main thing is they are still there, and Fabio Capello can at least look back on the result with satisfaction, given his decision to select Defoe above the non-scoring talents of Emile Heskey.
But there was so much more to cherish.
With the notable exception of Wayne Rooney, who did not look impressed to be replaced by Joe Cole, and the fact their goals difference read only one, England found themselves again, producing all the verve and fire their manager knows they are so capable of.
Days of rancour gave way to the sheer exhilaration of seeing a team play in the manner of old and though their profligacy ensured there were some nervy moments to survive before victory could be achieved, in the end they made it.
The men who combined to give England that crucial, crucial goal were both exorcising a personal ghost.
It has almost been forgotten it is so long ago but right at the beginning of England's World Cup, Defoe was a starter for Capello.
Hauled off after a goalless 45 minutes against Andorra in Barcelona, Defoe was condemned to the role of impact substitute for the remainder of the qualifiers, admittedly scoring three times in the process.
Milner's wound is much fresher. Always a Capello favourite, the Aston Villa man was asked to plug a hole on the left of England's midfield for the opening encounter with the United States.
Given a right old chasing by Carlos Bocanegra, the 24-year-old was hauled off after half an hour and must have wondered if he would see any more action in South Africa.
Capello is intensely loyal though. Deciding he needed more solidity defensively than Aaron Lennon can provide, the Italian turned to Milner for the right-sided role.
His early contribution was riddled with mistakes. But the cross he swung deep into the Slovenia box midway through that opening period was almost Beckham-esque.
Defoe had made his way into the danger zone, like any instinctive marksman would, got just in front of Marko Suler and stuck out his leg, prodding the ball goalwards with enough power to get it past Samir Handanovic, who did nearly make a save.
It had taken Defoe 23 minutes to achieve what Heskey had managed once in eight years; a competitive goal.
Visibly, the pressure lifted from English shoulders.
The high-tempo, quick passing, tigerish pressing game Capello had yearned for, and which temperatures of a South African winter suit so well suddenly appeared, and so did the opportunities.
Frank Lampard and skipper Steven Gerrard had the first couple before half-time, the Liverpool man knowing he would have scored if he had put more power behind a side-footed effort that failed to beat Handanovic after a hitherto quiet Rooney had provided the superb square ball.
Capello cut a frustrated figure when, eight yards out and completely unmarked, Defoe made no contact after Barry had lofted a pass into a Slovenia penalty area in a state of confusion thanks to some selfless running from Rooney.
John Terry brought a brilliant save out of Handanovic when he rose to meet Barry's corner at the far post before Rooney struck the base of a post after his unchecked run into the penalty area had been spotted by Lampard.
It was sumptuous fare lifted directly from the Premier League, the kind of football that prompted Capello to make his "crazy" claim that England could reach the final of this grand and prestigious tournament in Soccer City on July 11.
In a week for apologies and forgiveness, the England supporters responded by showing they bore no hard feelings for Rooney's rant in Cape Town by chanting his name with gusto, although on the second occasion it was for their talisman's exit - unhappily - to make way for Joe Cole to make his long-awaited bow.
Amid the euphoria at finding a team, one fairly large problem was being overlooked. England's lead remained stuck at one and could so easily be snatched away.
Had first Terry, then Glen Johnson, not thrown themselves in front of Slovenian shots, the smallest country in the tournament would have had their equaliser and England would have been out.
For Slovenia, events elsewhere would give them cause for huge regret. For England, pride was restored - and a sigh of relief could be breathed.
Monday, June 21, 2010
Domenech: My players are imbeciles!
France national coach Raymond Domenech has questioned his players' intelligence after they went on strike.
France's World Cup campaign had been in tatters since even before the tournament actually began, with rumours of dischord within the squad swirling around the Les Blues.
From that unsavoury beginning, things have unravelled quickly - with disaster on the pitch followed by chaos off it.
The 2006 finalists drew their first game against Uruguay before shockingly going down to Mexico. It was during this second match that Nicolas Anelka reportedly abused Domenech during half-time after the coach questioned his first-half performance.
The striker was promptly asked to pack his bags and booted out of the squad. That was when matters came to a head.
The remaining players refused to train the next day and captain Patrice Evra even got into a scuffle with the team director in front of the media.
Speaking on the incident, Domenech - whose own decisions have been questioned for a while now - told The Sun that his players' actions "were an aberration, an imbecility, a stupidity without name."
Speaking on his side's upcoming match against South Africa - a game they must win to even have a hope of progressing, the eccentric declared:
"I haven't picked the team yet. I will pick the players who are mentally and physically in the best shape to win the game.
"The sanction against Anelka is justified and I support the Federation. Nobody should behave in such a way.
It was Domenech himself who read out the players' strike statement and he explained the rationale behind doing so.
"It was an aberration.
"We had to do something. The French people had a right to know.
"What I should have said was I did not support this action. We tried to convince them it was stupid.
"Has our reputation been tarnished? That will depend on the outcome of the match.
"They have to play their hearts out. They have to show they love football and the French team."
France's World Cup campaign had been in tatters since even before the tournament actually began, with rumours of dischord within the squad swirling around the Les Blues.
From that unsavoury beginning, things have unravelled quickly - with disaster on the pitch followed by chaos off it.
The 2006 finalists drew their first game against Uruguay before shockingly going down to Mexico. It was during this second match that Nicolas Anelka reportedly abused Domenech during half-time after the coach questioned his first-half performance.
The striker was promptly asked to pack his bags and booted out of the squad. That was when matters came to a head.
The remaining players refused to train the next day and captain Patrice Evra even got into a scuffle with the team director in front of the media.
Speaking on the incident, Domenech - whose own decisions have been questioned for a while now - told The Sun that his players' actions "were an aberration, an imbecility, a stupidity without name."
Speaking on his side's upcoming match against South Africa - a game they must win to even have a hope of progressing, the eccentric declared:
"I haven't picked the team yet. I will pick the players who are mentally and physically in the best shape to win the game.
"The sanction against Anelka is justified and I support the Federation. Nobody should behave in such a way.
It was Domenech himself who read out the players' strike statement and he explained the rationale behind doing so.
"It was an aberration.
"We had to do something. The French people had a right to know.
"What I should have said was I did not support this action. We tried to convince them it was stupid.
"Has our reputation been tarnished? That will depend on the outcome of the match.
"They have to play their hearts out. They have to show they love football and the French team."
Gonzalez strikes for red hot Chile
Monday 21st June 2010
Venue: Nelson Mandela Bay Stadium
Kick-off: 15:00
Score: 1 - 0
Former Liverpool striker Mark Gonzalez came off the bench to head Chile to within touching distance of the last 16.
The 25-year-old, now at CSKA Moscow, struck with 15 minutes remaining as Switzerland, reduced to 10 men when Valon Behrami was sent off before the break, finally succumbed at the Nelson Mandela Bay Stadium in Port Elizabeth.
His goal will send the South Americans into their final Group H clash with Spain knowing a point will be enough to take them through to the knockout stages.
Switzerland, looking to build upon their shock victory over the Spaniards, found themselves up against it even before their numbers were reduced.
Goalkeeper Diego Benaglio had to make a fine double save from Arturo Vidal and Carlos Carmona with just 10 minutes gone, and he was in the right place at the right time five minutes before the break when Alexis Sanchez toe-poked a shot towards goal with his defenders once again conspicuous by their absence.
In the meantime their task had increased markedly when Behrami, having tangled with Jean Beausejour, did so with Vidal and saw the midfielder go to ground clutching his face.
Referee Khalil Al Ghamdi had little hesitation in producing a red card and the Swiss were very much on the back foot.
In truth, they had been already for much of the first half with Chile's midfield trio of Vidal, Carmona - who will miss the final group game against Spain after picking up a second booking - and Matias Fernandez repeatedly causing problems.
Switzerland offered little in response and skipper Alex Frei, who missed the opening game through injury, departed before the break having struggled to make an impact.
Sanchez in particular made a nuisance of himself as the South Americans stepped up a gear in the wake of Behrami's exit, although the Swiss just about held firm.
Chile thought they had taken the lead within three minutes of the restart when Sanchez blasted home a shot with the help of a significant deflection, but an offside flag correctly halted his celebrations in their infancy.
Benaglio needed to be at his best once again with 55 minutes gone when defender Stephane Grichting gifted the ball to Sanchez, who raced in on goal but could not beat the goalkeeper one-on-one.
Half-time substitute Gonzalez headed over from a Fernandez corner but, as the game became increasingly bad-tempered, Fernandez, who will also miss the Spain game, Gokhan Inler and Gary Medel were all cautioned in quick succession.
Grichting made a fine 69th-minute block to deny substitute Esteban Paredes, but it was he who did the damage with 15 minutes remaining when he rounded Benaglio and crossed for Gonzalez to power a downward header in off the underside of the bar.
The lively Paredes might have doubled his side's advantage twice within the final six minutes but was unable to hit the target on either occasion, and Swiss substitute Eren Derdiyok passed up a glorious opportunity to level with seconds remaining when he fired wide.
Venue: Nelson Mandela Bay Stadium
Kick-off: 15:00
Score: 1 - 0
Former Liverpool striker Mark Gonzalez came off the bench to head Chile to within touching distance of the last 16.
The 25-year-old, now at CSKA Moscow, struck with 15 minutes remaining as Switzerland, reduced to 10 men when Valon Behrami was sent off before the break, finally succumbed at the Nelson Mandela Bay Stadium in Port Elizabeth.
His goal will send the South Americans into their final Group H clash with Spain knowing a point will be enough to take them through to the knockout stages.
Switzerland, looking to build upon their shock victory over the Spaniards, found themselves up against it even before their numbers were reduced.
Goalkeeper Diego Benaglio had to make a fine double save from Arturo Vidal and Carlos Carmona with just 10 minutes gone, and he was in the right place at the right time five minutes before the break when Alexis Sanchez toe-poked a shot towards goal with his defenders once again conspicuous by their absence.
In the meantime their task had increased markedly when Behrami, having tangled with Jean Beausejour, did so with Vidal and saw the midfielder go to ground clutching his face.
Referee Khalil Al Ghamdi had little hesitation in producing a red card and the Swiss were very much on the back foot.
In truth, they had been already for much of the first half with Chile's midfield trio of Vidal, Carmona - who will miss the final group game against Spain after picking up a second booking - and Matias Fernandez repeatedly causing problems.
Switzerland offered little in response and skipper Alex Frei, who missed the opening game through injury, departed before the break having struggled to make an impact.
Sanchez in particular made a nuisance of himself as the South Americans stepped up a gear in the wake of Behrami's exit, although the Swiss just about held firm.
Chile thought they had taken the lead within three minutes of the restart when Sanchez blasted home a shot with the help of a significant deflection, but an offside flag correctly halted his celebrations in their infancy.
Benaglio needed to be at his best once again with 55 minutes gone when defender Stephane Grichting gifted the ball to Sanchez, who raced in on goal but could not beat the goalkeeper one-on-one.
Half-time substitute Gonzalez headed over from a Fernandez corner but, as the game became increasingly bad-tempered, Fernandez, who will also miss the Spain game, Gokhan Inler and Gary Medel were all cautioned in quick succession.
Grichting made a fine 69th-minute block to deny substitute Esteban Paredes, but it was he who did the damage with 15 minutes remaining when he rounded Benaglio and crossed for Gonzalez to power a downward header in off the underside of the bar.
The lively Paredes might have doubled his side's advantage twice within the final six minutes but was unable to hit the target on either occasion, and Swiss substitute Eren Derdiyok passed up a glorious opportunity to level with seconds remaining when he fired wide.
Seven-up Portugal
Monday 21st June 2010
Venue: Green Point Stadium
Kick-off: 12:30
Score: 7 - 0
Portugal produced a spectacular performance of fluidity and flair to earn their first win - a 7-0 one at that - of the World Cup in style against North Korea.
Having failed to impress in their opening Group G stalemate with the Ivory Coast, Carlos Queiroz's side were under pressure to deliver against North Korea with a showdown against Brazil still to come.
And they did that emphatically as Raul Meireles scored in the first half before Simao Sabrosa, Hugo Almeida and Tiago hit one apiece within seven second-half minutes.
Liedson and Cristiano Ronaldo got in on the act before Tiago grabbed his second in the dying minutes.
Portugal came into the match hoping to boost their goal difference with the Ivory Coast, their main rivals to join Brazil in the next round, still to play a North Korean side who were excellent in their 2-1 defeat by Dunga's side in the first game.
Queiroz made four changes, one of which was enforced due to Deco's hip injury and Tiago coming in. North Korea were unchanged.
Portugal captain Ronaldo, without a competitive goal for his country in two years, had an early effort blocked.
His side came close to a breakthrough in the seventh minute when Ricardo Carvalho was allowed to reach Simao's corner but saw his header hit the post and bounce away.
Cha Jong-hyok and Jong Tae-se had half chances for North Korea and a better opportunity then went begging after 17 minutes as Hong Yong-jo cut inside and when Eduardo parried his shot, Pak Nam-chol headed over.
In the 29th minute the impressive Meireles opened the scoring. Breaking into the box, he was found by Tiago's clever ball and expertly drove the ball beyond Ri Myong-guk.
Tiago had an early chance in the second half as his effort from distance was tipped over by the goalkeeper.
Ronaldo blasted one over in a lively opening to the half, then saw Ri Myong-guk spill a left-footed effort soon after.
Jong's deflected drive from a free-kick was saved by Eduardo and at the other end Almeida failed to finish off a nice move down the left when he could not convert Fabio Coentrao's cross.
However, it was 2-0 in the 53rd minute.
Almeida held up a long ball for Meireles and when the midfielder saw Simao bursting into the box to his right, the pass perfectly set up his team-mate for a straightforward finish.
North Korea were deflated and it was soon over as a contest. In the 56th minute Coentrao was put clear down the left and his perfectly-pitched cross found Almeida, who made no mistake with the header.
North Korea coach Kim Jong-hun sent on two substitutes in response but it was to no avail as Tiago added to the deficit, rushing forward to sweep home Ronaldo's cut-back from the left on the hour mark.
Meireles and Coentrao had further chances while in the 70th minute a fizzing Ronaldo shot hit the bar.
Ronaldo kept plugging away as he looked to break his two-year barren spell before Liedson made it 5-0 four minutes after coming off the bench.
Fellow replacement Duda whipped in a ball which Ri Kwang-chon failed to clear, allowing Brazil-born Liedson to hammer home on the turn.
Ronaldo finally got his goal when Liedson capitalised on a defensive mix-up to put him through before he rounded the goalkeeper and slotted home and Tiago headed home his second to complete the rout in the 89th minute
Venue: Green Point Stadium
Kick-off: 12:30
Score: 7 - 0
Portugal produced a spectacular performance of fluidity and flair to earn their first win - a 7-0 one at that - of the World Cup in style against North Korea.
Having failed to impress in their opening Group G stalemate with the Ivory Coast, Carlos Queiroz's side were under pressure to deliver against North Korea with a showdown against Brazil still to come.
And they did that emphatically as Raul Meireles scored in the first half before Simao Sabrosa, Hugo Almeida and Tiago hit one apiece within seven second-half minutes.
Liedson and Cristiano Ronaldo got in on the act before Tiago grabbed his second in the dying minutes.
Portugal came into the match hoping to boost their goal difference with the Ivory Coast, their main rivals to join Brazil in the next round, still to play a North Korean side who were excellent in their 2-1 defeat by Dunga's side in the first game.
Queiroz made four changes, one of which was enforced due to Deco's hip injury and Tiago coming in. North Korea were unchanged.
Portugal captain Ronaldo, without a competitive goal for his country in two years, had an early effort blocked.
His side came close to a breakthrough in the seventh minute when Ricardo Carvalho was allowed to reach Simao's corner but saw his header hit the post and bounce away.
Cha Jong-hyok and Jong Tae-se had half chances for North Korea and a better opportunity then went begging after 17 minutes as Hong Yong-jo cut inside and when Eduardo parried his shot, Pak Nam-chol headed over.
In the 29th minute the impressive Meireles opened the scoring. Breaking into the box, he was found by Tiago's clever ball and expertly drove the ball beyond Ri Myong-guk.
Tiago had an early chance in the second half as his effort from distance was tipped over by the goalkeeper.
Ronaldo blasted one over in a lively opening to the half, then saw Ri Myong-guk spill a left-footed effort soon after.
Jong's deflected drive from a free-kick was saved by Eduardo and at the other end Almeida failed to finish off a nice move down the left when he could not convert Fabio Coentrao's cross.
However, it was 2-0 in the 53rd minute.
Almeida held up a long ball for Meireles and when the midfielder saw Simao bursting into the box to his right, the pass perfectly set up his team-mate for a straightforward finish.
North Korea were deflated and it was soon over as a contest. In the 56th minute Coentrao was put clear down the left and his perfectly-pitched cross found Almeida, who made no mistake with the header.
North Korea coach Kim Jong-hun sent on two substitutes in response but it was to no avail as Tiago added to the deficit, rushing forward to sweep home Ronaldo's cut-back from the left on the hour mark.
Meireles and Coentrao had further chances while in the 70th minute a fizzing Ronaldo shot hit the bar.
Ronaldo kept plugging away as he looked to break his two-year barren spell before Liedson made it 5-0 four minutes after coming off the bench.
Fellow replacement Duda whipped in a ball which Ri Kwang-chon failed to clear, allowing Brazil-born Liedson to hammer home on the turn.
Ronaldo finally got his goal when Liedson capitalised on a defensive mix-up to put him through before he rounded the goalkeeper and slotted home and Tiago headed home his second to complete the rout in the 89th minute
Sunday, June 20, 2010
Resurgent Danes send Cameroon out
Saturday 19th June 2010
Venue: Loftus Versfeld Stadium
Kick-off: 19:30
Score: 1 - 2
Resurgent Danes send Cameroon out
Denmark hit back from an early deficit to re-ignite their World Cup challenge and in the process extinguish Cameroon's chances of getting through to the last 16 with a 2-1 win.
In what was a hugely entertaining encounter between the bottom two teams in Group E in Pretoria, Cameroon took the lead in the 10th minute through captain Samuel Eto'o following a bad defensive error by Christian Poulsen.
Denmark recovered from that setback though, and goals from Nicklas Bendtner and the dangerous Dennis Rommedahl in either half earned the Scandinavians a hard-fought victory.
The result means that Denmark join their next opponents Japan on three points, while group leaders Holland are now guaranteed a top-two finish - making them the first team to progress.
For battling Cameroon though, the defeat sees them become the first side to bid farewell to the World Cup after losing both their opening two games.
Denmark coach Morten Olsen made two changes to the side that lost to Holland, bringing in fit-again captain Jon Dahl Tomasson and Jesper Gronkjaer.
Bendtner also took his place in the starting line-up for the second successive game despite struggling with a groin injury that means he can only train every other day and only having lasted an hour against the Dutch.
Cameroon coach Paul Le Guen, meanwhile, drafted in Geremi, Achille Emana and Alexandre Song as the Indomitable Lions sought to end an eight-game winless streak stretching back to the African Nations Cup.
Denmark, who had lost their previous three games without scoring a goal, had the first opportunity but Rommedahl fired over after breaking the offside trap in the sixth minute.
The Ajax winger should have done better with that, and four minutes later Eto'o showed him how it should be done by putting Cameroon ahead following a bad defensive error by Christian Poulsen.
Poulsen picked up possession from his goalkeeper Thomas Sorensen on the edge of the box and then attempted to find Simon Kjaer with a first-time pass without looking up.
The pass was intercepted by Emana, who quickly picked out the unmarked Eto'o in the middle and the Inter Milan star took one touch before drilling a low shot past Sorensen.
That was another bad goal for the Danes to concede following the own goal by Daniel Agger against Holland, when Simon Poulsen's attempted headed clearance hit the Liverpool defender before going in.
The Danes were back on level terms just after the half-hour mark at Loftus Versfeld stadium, though.
Cameroon goalkeeper Souleymanou Hamidou had done well to deny Tomasson earlier but he could do nothing about the equaliser as his defence were cut open far too easily.
A superb long ball from inside his own half by Kjaer just cleared Benoit Assou-Ekotto and fell perfectly for the flying Rommedahl, and his low ball into the centre was slid home by Bendtner from eight yards.
Both sides had chances to snatch the lead during a hectic spell just prior to half-time.
For Denmark, Rommedahl could not take advantage of getting clear once again before, from the same attack, Tomasson saw a goal-bound shot blocked.
Then for Cameroon, Eto'o fired against the post following another defensive mistake, while Emana was denied by Sorensen after bursting through the two Danish centre-backs.
The all-action encounter continued apace at the start of the second half when Stephane M'bia and Kjaer both brought fingertip saves out of their opposing goalkeepers.
Cameroon striker Pierre Webo then blazed a decent opening high into the stands before also being denied by Sorensen as the African side looked to be taking control.
However, it was Denmark who got the next goal through the dangerous Rommedahl in the 61st minute.
Bendtner's pass put Rommedahl away down the right and the 31-year-old cut inside Jean Makoun before curling a low left-footed shot past Hamidou. That left Cameroon staring World Cup elimination in the face, and they almost fell 3-1 behind in the 71st minute, Hamidou coming to their rescue to superbly keep out Tomasson's effort.
Sorensen then produced an even better save six minutes later, diving low to his right to parry away Emana's shot.
Cameroon laid siege to Sorensen's goal in the closing stages, but they could find no way through as Denmark held on for the points.
Venue: Loftus Versfeld Stadium
Kick-off: 19:30
Score: 1 - 2
Resurgent Danes send Cameroon out
Denmark hit back from an early deficit to re-ignite their World Cup challenge and in the process extinguish Cameroon's chances of getting through to the last 16 with a 2-1 win.
In what was a hugely entertaining encounter between the bottom two teams in Group E in Pretoria, Cameroon took the lead in the 10th minute through captain Samuel Eto'o following a bad defensive error by Christian Poulsen.
Denmark recovered from that setback though, and goals from Nicklas Bendtner and the dangerous Dennis Rommedahl in either half earned the Scandinavians a hard-fought victory.
The result means that Denmark join their next opponents Japan on three points, while group leaders Holland are now guaranteed a top-two finish - making them the first team to progress.
For battling Cameroon though, the defeat sees them become the first side to bid farewell to the World Cup after losing both their opening two games.
Denmark coach Morten Olsen made two changes to the side that lost to Holland, bringing in fit-again captain Jon Dahl Tomasson and Jesper Gronkjaer.
Bendtner also took his place in the starting line-up for the second successive game despite struggling with a groin injury that means he can only train every other day and only having lasted an hour against the Dutch.
Cameroon coach Paul Le Guen, meanwhile, drafted in Geremi, Achille Emana and Alexandre Song as the Indomitable Lions sought to end an eight-game winless streak stretching back to the African Nations Cup.
Denmark, who had lost their previous three games without scoring a goal, had the first opportunity but Rommedahl fired over after breaking the offside trap in the sixth minute.
The Ajax winger should have done better with that, and four minutes later Eto'o showed him how it should be done by putting Cameroon ahead following a bad defensive error by Christian Poulsen.
Poulsen picked up possession from his goalkeeper Thomas Sorensen on the edge of the box and then attempted to find Simon Kjaer with a first-time pass without looking up.
The pass was intercepted by Emana, who quickly picked out the unmarked Eto'o in the middle and the Inter Milan star took one touch before drilling a low shot past Sorensen.
That was another bad goal for the Danes to concede following the own goal by Daniel Agger against Holland, when Simon Poulsen's attempted headed clearance hit the Liverpool defender before going in.
The Danes were back on level terms just after the half-hour mark at Loftus Versfeld stadium, though.
Cameroon goalkeeper Souleymanou Hamidou had done well to deny Tomasson earlier but he could do nothing about the equaliser as his defence were cut open far too easily.
A superb long ball from inside his own half by Kjaer just cleared Benoit Assou-Ekotto and fell perfectly for the flying Rommedahl, and his low ball into the centre was slid home by Bendtner from eight yards.
Both sides had chances to snatch the lead during a hectic spell just prior to half-time.
For Denmark, Rommedahl could not take advantage of getting clear once again before, from the same attack, Tomasson saw a goal-bound shot blocked.
Then for Cameroon, Eto'o fired against the post following another defensive mistake, while Emana was denied by Sorensen after bursting through the two Danish centre-backs.
The all-action encounter continued apace at the start of the second half when Stephane M'bia and Kjaer both brought fingertip saves out of their opposing goalkeepers.
Cameroon striker Pierre Webo then blazed a decent opening high into the stands before also being denied by Sorensen as the African side looked to be taking control.
However, it was Denmark who got the next goal through the dangerous Rommedahl in the 61st minute.
Bendtner's pass put Rommedahl away down the right and the 31-year-old cut inside Jean Makoun before curling a low left-footed shot past Hamidou. That left Cameroon staring World Cup elimination in the face, and they almost fell 3-1 behind in the 71st minute, Hamidou coming to their rescue to superbly keep out Tomasson's effort.
Sorensen then produced an even better save six minutes later, diving low to his right to parry away Emana's shot.
Cameroon laid siege to Sorensen's goal in the closing stages, but they could find no way through as Denmark held on for the points.
Socceroos battle for point
Saturday 19th June 2010
Venue: Royal Bafokeng Stadium
Kick-off: 15:00
Score: 1 - 1
Ten-man Australia kept their slim hopes of qualifying for the next round of the World Cup alive after a dogged second-half display earned them a point in a 1-1 draw against Ghana in Rustenburg.
Harry Kewell was sent off for the Socceroos midway through the first half after referee Roberto Rosetti deemed he had used his arm to keep out a certain goal for Jonathan Mensah after 23 minutes.
Asamoah Gyan made no mistake with the resulting penalty to cancel out an earlier strike from Brett Holman at the Royal Bafokeng Stadium as the two sides went on to end the Group D encounter with a point each.
At the start Ghana coach Milovan Rajevac was forced into two changes in the key centre-back area, where Isaac Vorsah and John Mensah were ruled out, with Jonathan Mensah and Lee Addy drafted in instead.
There were changes from Pim Verbeek too - four in total with Holman, Marco Bresciano and Kewell amongst them - and it clearly made a difference from the outset.
Australia looked hungry and Kewell had an early penalty shout turned down after a nervous Addy was almost dispossessed in the box.
More suspect defending saw Addy and goalkeeper Richard Kingson collide after pressure from another chasing Australian, before the deadlock was broken.
Carl Valeri was brought down by Anthony Annan just outside the box and Bresciano's free-kick was fumbled by the Ghanaian goalkeeper allowing Holman to swoop.
The Black Stars slowly began to recover and came close after 20 minutes when Andre Ayew and then Gyan saw their shots deflected over.
Then came the turning point of the game - Ayew's trickery down the right allowing him to lay the ball on for Jonathan Mensah, whose shot was kept out by the hand of Kewell.
Referee Rosetti had no hesitation in sending off the forward and Gyan easily dispatched the penalty by sending Mark Schwarzer the wrong way.
The goal came in the 24th minute and moments later Prince Tagoe had a good chance to put his side in front, but dragged his long-range strike wide.
Schwarzer made a fine save moments before half time when he turned Boateng's strike wide to ensure his side head into the break level.
After the restart Kwadwo Asamoah wastefully shot wide after a promising counter-attack, while Gyan showed good accuracy from distance with a low shot that was not cleanly gathered by the Australia goalkeeper, who was fortunate not to have had any attacking players close by.
Quincy Owusu-Abeyie replaced Tagoe in the 56th minute, but Ghana were still restricted to long-range shooting - Rennes striker Gyan again sending in a comfortable shot for Schwarzer to deal with.
Scott Chipperfield was brought on 10 minutes later and had a great chance to make an immediate impact when Luke Wilkshire swung over a cross from the right, but the free header went flying over.
When the Ghanaians did manage to get into the box, Gyan sliced wide after a neatly threaded pass from Boateng.
Verbeek's side had another great chance to take the lead after 73 minutes when Wilkshire was played in on the right, but Kingson did well to close down the shot and then acrobatically save the much easier rebound shot from substitute Joshua Kennedy.
Sulley Muntari was introduced but by then there was more defending to do for the Inter Milan midfielder with Australia throwing everything forward.
With time running out, Jonathan Mensah headed wide, while Quincy forced Schwarzer to punch over his 18-yard shot as the game finished 1-1.
Venue: Royal Bafokeng Stadium
Kick-off: 15:00
Score: 1 - 1
Ten-man Australia kept their slim hopes of qualifying for the next round of the World Cup alive after a dogged second-half display earned them a point in a 1-1 draw against Ghana in Rustenburg.
Harry Kewell was sent off for the Socceroos midway through the first half after referee Roberto Rosetti deemed he had used his arm to keep out a certain goal for Jonathan Mensah after 23 minutes.
Asamoah Gyan made no mistake with the resulting penalty to cancel out an earlier strike from Brett Holman at the Royal Bafokeng Stadium as the two sides went on to end the Group D encounter with a point each.
At the start Ghana coach Milovan Rajevac was forced into two changes in the key centre-back area, where Isaac Vorsah and John Mensah were ruled out, with Jonathan Mensah and Lee Addy drafted in instead.
There were changes from Pim Verbeek too - four in total with Holman, Marco Bresciano and Kewell amongst them - and it clearly made a difference from the outset.
Australia looked hungry and Kewell had an early penalty shout turned down after a nervous Addy was almost dispossessed in the box.
More suspect defending saw Addy and goalkeeper Richard Kingson collide after pressure from another chasing Australian, before the deadlock was broken.
Carl Valeri was brought down by Anthony Annan just outside the box and Bresciano's free-kick was fumbled by the Ghanaian goalkeeper allowing Holman to swoop.
The Black Stars slowly began to recover and came close after 20 minutes when Andre Ayew and then Gyan saw their shots deflected over.
Then came the turning point of the game - Ayew's trickery down the right allowing him to lay the ball on for Jonathan Mensah, whose shot was kept out by the hand of Kewell.
Referee Rosetti had no hesitation in sending off the forward and Gyan easily dispatched the penalty by sending Mark Schwarzer the wrong way.
The goal came in the 24th minute and moments later Prince Tagoe had a good chance to put his side in front, but dragged his long-range strike wide.
Schwarzer made a fine save moments before half time when he turned Boateng's strike wide to ensure his side head into the break level.
After the restart Kwadwo Asamoah wastefully shot wide after a promising counter-attack, while Gyan showed good accuracy from distance with a low shot that was not cleanly gathered by the Australia goalkeeper, who was fortunate not to have had any attacking players close by.
Quincy Owusu-Abeyie replaced Tagoe in the 56th minute, but Ghana were still restricted to long-range shooting - Rennes striker Gyan again sending in a comfortable shot for Schwarzer to deal with.
Scott Chipperfield was brought on 10 minutes later and had a great chance to make an immediate impact when Luke Wilkshire swung over a cross from the right, but the free header went flying over.
When the Ghanaians did manage to get into the box, Gyan sliced wide after a neatly threaded pass from Boateng.
Verbeek's side had another great chance to take the lead after 73 minutes when Wilkshire was played in on the right, but Kingson did well to close down the shot and then acrobatically save the much easier rebound shot from substitute Joshua Kennedy.
Sulley Muntari was introduced but by then there was more defending to do for the Inter Milan midfielder with Australia throwing everything forward.
With time running out, Jonathan Mensah headed wide, while Quincy forced Schwarzer to punch over his 18-yard shot as the game finished 1-1.
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