Day: November 17, 2008

November 17
2008

Japan Enters Recession, Yen Tumbles

The Japanese yen declined against the other currencies today after opening with a positive weekly gap as the world’s third largest economy contracted for the two consecutive quarters according to the Japan’s government. The Gross domestic product (GDP) decreased 0.1 percent in the third quarter of 2008 according to the preliminary report by Japan’s Economic and Social Research Institute. This contraction followed 0.9 percent decline of GDP in the second […]

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November 17
2008

EUR/USD Up on Mixed U.S. Fundamentals

EUR/USD grew up today after some bearish weekly gap and a major decline last Friday. The  U. S. fundamentals that were reported today showed some mixed results, probably, hurting the dollar’s positions on the Forex market. EUR/USD is currently trading near 1.2670. NY Empire State index declined in November from -24.6 to -25.4, showing a further contraction in the manufacturing sector. The median forecast by the market analysts […]

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November 17
2008

Band Moving Average — Pull-Back Indicator

One of my site’s visitors offered an interesting idea of a MetaTrader indicator to me. At first glance, the indicator is very simple and quite useless. The general idea was to modify the standard Moving Average indicator that comes with MT4, so that the two more bands would be added to it. One band should be below the main line by 2% and the other — above by 2%. Then this indicator could be used as a pull-back detector: when the price breaks through the upper band […]

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