Blog – Page 298

November 9
2008

A View on the Forex Market Back in 1998

An interesting e-book was written back in 1998 by Sam Y. Cross of the Federal Reserve Bank of New York — All About the Foreign Exchange Market in the United States. In the focus of this e-book is the U. S. Forex market in its common understanding — not the macroeconomic currency indicators. This e-book was written in the pre-euro era, so it contains some archaisms — such as French franc and Deutsche Mark. The research […]

November 8
2008

Forex Technical Analysis for 11/10—11/14 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.1869 1.2198 1.2457 1.2786 1.3045 1.3374 1.3633 GBP/USD 1.4457 1.4996 1.5319 1.5858 1.6181 1.6720 1.7043 USD/JPY 92.69 94.73 96.47 98.51 100.25 102.29 104.03 EUR/JPY 112.77 […]

November 7
2008

Nonfarm Employment Down, Supports EUR/USD

EUR/USD is up today after two days of decline. Employment statistics is hurting the dollar during the last two days and the bets that the Fed will have to continue cutting the interest rates become more popular. EUR/USD is currently trading near 1.2748. Nonfarm payrolls declined by 240,000 in October — thats even more than the analysts expected (200,000), being quite pessimistic. Septembers decline was also […]

November 5
2008

U.S. President Elections Dollar Rally Over

EUR/USD declined today after the U.S. elections were over and the next presidents name became known fast and without any troubles. Barack Obama may create all necessary conditions for the dollar to grow further, but it will take him a lot of effort to do so. When the euphoria around the elections disappeared, EUR/USD began to rise on Forex. The macroeconomic background in U.S. is very poor […]

November 5
2008

Pattern Recognition Master for Japanese Candlesticks

The Japanese candlesticks is a nice tool of trading for any chart-trader. Some Forex traders prefer to trade on the bare charts without adding any indicators. The candlestick patterns are used as the entry and exit symbols in many cases. But its not an easy task to constantly recognize those Shooting Stars, various Dojis, Hammers, etc. Pattern Recognition Master is a nice tool to help the chart-traders to automatically […]

November 3
2008

EUR/USD Trades Almost Unchanged After Early Peaking

EUR/USD went down today after rising to 1.2897 early today. A bit of optimism brought by the positive Asian trading dissolved fast after European stock markets failed to continue the rally. EUR/USD is currently trading near 1.2776 after housing and manufacturing data releases in U.S. ISM PMI (manufacturing index) fell from 43.5% to 38.9% in October, while the forecast showed a decline to 42% for the last month. Construction […]

November 1
2008

Forex Technical Analysis for 11/03—11/07 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.1317 1.1824 1.2275 1.2782 1.3233 1.3740 1.4191 GBP/USD 1.3952 1.4615 1.5345 1.6008 1.6738 1.7401 1.8131 USD/JPY 86.15 89.10 93.78 96.73 101.41 104.36 109.04 EUR/JPY 98.23 […]

October 31
2008

Dollar Returns to Bullish Trend Despite Previous Losses

EUR/USD dropped today for the second day despite the correctional wave that was forming during the last three days. After peaking at 1.3288 yesterday, the currency pair is now trading near 1.2733 as the traders continue to dump other currencies and buy U.S. dollars. U.S. personal income rose by 0.2% in September, following 0.4% increase in August and slightly above 0.1% forecast. Personal spending […]

October 30
2008

Dollar Falls on Rate Cut, GDP Contraction

EUR/USD continued to rise today and showed a third day of gain on the Forex market, as the dollar fell after the yesterdays rate cut decision. Federal Reserve reduced the funds rate from 1.5% to 1%. Another reason for the dollars decline were the macroeconomic indicators released in U.S. EUR/USD is currently trading near 1.3035 after reaching 1.3288 today. The advance report for the third quarter 2008 GDP […]

October 29
2008

EUR/USD Growing and Confident Before FOMC Meeting

EUR/USD is currently showing a second day of growth as the situation with the markets is trying to turn back to less volatile and risky. Expectations that during todays FOMC meeting U.S. interest rate will be cut to at least 1.00% is spurring the investors optimism. At a low, but still significant level, todays U.S. macroeconomic releases added confidence to the global economy. EUR/USD is currently trading near 1.2962 rate after trading at as low […]