The Canadian dollar rose today versus all other 16 major currencies as concerns about supplies pushed crude oil, the main Canadian export, closer to the 30-month record. May futures for crude oil delivery traded at $103.74 per barrel in New York after it earlier went up 0.3 percent to $105.76. The prices touched $106.95 on March 7, the highest level since September 2008. Crude has risen 7 […]
Read moreThis week promises to be very important for the US dollar as there will be many fundamental reports, including the very important non-farm payrolls. Will they confirm the tendency of the US economy to improve, increasing the probability of an interest rates hike? The answer to this question can define the behavior of the US currency for a long time. We already had the positive report about the personal income and spending today. Even more important was […]
Read moreThe Malaysian ringgit, together with some other Asian currencies, fell today as the threat of the radiation contamination from the damaged nuclear plant in Japan curbed attractiveness of the Asian assets. Tokyo Electric Power Co. said that the efforts to fix the cooling systems at the Fukushima Dai-Ichi nuclear power plant were slowed by the necessity to pump the radioactive water from the site. The Bloomberg-JPMorgan Asia Dollar Index dropped from the 13-year record. The Asian currencies […]
Read moreEUR/USD opened this week a way below the close of previous week and was gradually rising to the closing level of last Friday over this session. The euro may feel pressure as Portugal’s government collapsed after the Parliament refused to accept the austerity budget. The macroeconomic data from the US was positive today, especially the news from the housing market. The strong growth of the previously-built houses supported the opinion that the negative reports of the previous months […]
Read moreFrom today on, daily Elliott Wave analysis videos will be published on EarnForex.com. The section was created to provide both the analytical material for your Forex trading guidance and the opportunity to learn proper Elliott Wave analysis techniques using the high-quality video records of a professional EW practitioner in action. The section along with all the past videos is available here: Daily Elliott Wave Videos If you have any […]
Read moreWe have already found out that it can be quite dangerous to trade without stop-loss in Forex. We have also managed to define the most popular risk allowance per trade of an average Forex trader. Now it’s time to understand how the traders place their stop-loss orders. There are several types of stop-loss and, while some traders use almost all of them, depending on the current market […]
Read moreThe New Zealand dollar fell and the Australian dollar reversed its upward trend versus the US dollar today on the speculation that the Federal Reserve may end its asset-purchasing program, reducing amount supply of the US currency. The positive macroeconomic data spurred talks about the potential end of the quantitative easing. The Bank of St. Louis President James Bullard said March 26: The economy is looking pretty good. It is still […]
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