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Author: admin_mm
May 42008
MasterForex — MetaTrader 4 Forex Broker
MasterForex existed on-line since 2006, but being very similar to other MT4 Forex brokers it has never received such traders community attention as their competitors (e.g. LiteForex or FXOpen). As its rivals MasterForex accepts WebMoney, e-gold and wire transfer for deposit/withdraw operations, trading from $1, MT4 platform, CFD trading and a flexible leverage. Unfortunately, like many other MetaTrader brokers its not registered with NFA, […]
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May 32008
Forex Technical Analysis for 05/05—05/09 Week
EUR/USD trend: sell. GBP/USD trend: hold. USD/JPY trend: buy. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4957 1.5159 1.5290 1.5492 1.5623 1.5825 1.5956 GBP/USD 1.9229 1.9426 1.9571 1.9768 1.9913 2.0110 2.0255 USD/JPY 101.35 102.29 103.83 104.77 106.31 107.25 108.79 EUR/JPY 157.52 […]
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May 22008
Kuwait: GCC to Abandon Dollar
Kuwaiti Finance Minister has said that the Gulf Cooperation Council countries, U.A.E., Qatar and Bahrain specifically, are planning to scrap their currencies peg to dollar soon. Mustafa Al Shimali is confident that other Middle Eastern countries will be doing what Kuwait has done in May 2007. Recently financial officials from the United Arab Emirates stated that depegging is not in the countrys interest, while […]
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May 22008
NorthFinance and WestCapFX Endorse FxPro
NorthFinance and WestCapFX recently stopped accepting new Forex trader registrations and are now officially redirecting new members to a very new but employing an aggressive marketing strategy Forex broker FxPro. It looks like the company behind NorthFinance and WestCapFX decided that it would be better to consolidate their business and offer one «universally good» broker rather than two different decisions for two […]
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May 22008
EUR/USD at Monthly Low on Nonfarm Payrolls
EUR/USD broke down through 1.5400 mark today and reached the minimum level since the 24th of March as the employment fundamentals showed some improvement compared to the March results. Dollar managed to strengthen also against pound and yen even with objectively bad macroeconomic results. Nonfarm payrolls one of the main indicators of the U.S. economys health decreased 20k in April. Thats a lot better than the […]
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May 22008
Yen Falls for Second Day as Stocks Bloom
Today the yen fell for the second day in a row on Forex as the stock markets rallied and the traders looked for the more high-yielding assets, selling the Japanese currency for dollar and other risky currencies. Although, the U.S. dollar is also heading for the second weekly gain against the Japanese yen, JPY declined mostly against such carry trade […]
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May 12008
Jobs and Income Fall in United States
May Day resulted in some unexpectedly bad fundamental data releases from the United States. Labor market, income, spendings, construction and manufacturing were covered in todays reports and none of them showed something optimistic for the dollar bulls; nevertheless EUR/USD was down today and the dollar managed to show some unfounded strength on the Forex market. Initial jobless claims rose up from 345k […]
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April 302008
FOMC Reduces Rate, Hopes for Better
The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks. As the majority of the traders expected, FOMC reduced the interest rate for the U.S. financial market by 25 basis points and signaled that, although the current situation on the […]
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April 302008
EUR/USD Mostly Unchanged by Other Macroeconomic Releases before Fed Rate Decision
EUR/USD remains mostly unchanged today as the markets await the Federal Reserve decision on the interest rate. Even some important indicators that were released in U.S. today failed to move the currency pair significantly on Forex. Advance data for the first quarter GDP in U.S. were releasd today, showing 0.6% growth (the same as in Q4 2007), above the estimate of 0.5%. Chicago PMI index […]
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April 302008
Dollar Steady ahead of FOMC Meeting
The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today. According to the interest rate futures, Investors believe that the rate in U.S. will be lowered today by 25 basis points (from 2.25% to 2.00%), but the statement wont be dovish […]
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