Blog – Page 304

August 16
2008

Forex Technical Analysis for 08/18—08/22 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4115 1.4388 1.4538 1.4811 1.4961 1.5234 1.5384 GBP/USD 1.7619 1.8066 1.8363 1.8810 1.9107 1.9554 1.9851 USD/JPY 106.64 107.48 108.99 109.83 111.34 112.18 113.69 EUR/JPY 156.39 […]

August 15
2008

EUR/USD Slides to New Monthly Lows

EUR/USD declined to its new minimum level since February 20 — 1.4700. Although its currently trading significantly above that level (at 1.4743), theres a little doubt regarding further trend direction of this currency pair. According to a report that was released today NY Empire State index rose to 2.8 in August compared to -4.9 in July. It was expected to decline to -5.0. Net foreign purchases of the long-term U.S. securities declined in June — from $83.2 billion […]

August 14
2008

Dollar Grows on Mixed Data as Euro Goes Down

Dollar rose today against the euro but EUR/USD pair still remained in a mainly sideways trend. A good report on CPI and a rather low decline in the initial jobless claims were mostly ignored during todays trading session. EUR/USD is currently trading near 1.4901. Seasonally adjusted CPI rate was at 0.8% in July — thats below Junes 1.1%, but above the average forecast of 0.4%. Initial jobless claims declined […]

August 13
2008

EUR/USD Gains on Neutral Fundamentals

EUR/USD rose slightly today, probably as a result of the technical correction processes that should have followed the recent rapid growth of the dollar. Todays fundamental releases from U.S. were average and they couldnt move the currency pair too far up or down. EUR/USD is currently trading at 1.4937 with the daily high still below the important level of resistance located at 1.5000. Export and import prices gained […]

August 12
2008

Good Trade Balance and Treasury Budget Reports Fail to Stop Correction on EUR/USD

Although, EUR/USD moved slightly above its opening level, this currency pair remained highly volatile today and reached a new minimum record since February 26 at 1.4815. The bullish spiked reached 1.4964 level. It failed to break above the 1.5000 resistance which may form a new psychological roof level for the next couple of weeks. Trade balance deficit shrank in June as the exports grew significantly faster than imports. The deficit decreased to $56.8 billion — down […]

August 11
2008

Statistical Forex System Gathered Information

Earlier Ive described the statistical Forex systems and introduced the problem of choosing the right timeframe to gather the statistics for such systems. Today I will try to describe the problem of choosing the right information that is collected for the statistical trading system. Gathering the statistics over a chosen period of time for the given market instrument is the next step to create a successful statistical […]

August 10
2008

Statistical Forex System Choosing Statistics Timeframe

In one of the previous posts Ive introduced the statistical Forex system definition and marked up the important problems that should be solved in the process of its creation. Here I will try to explain more about the problem of the statistics gathering. Choosing the timeframe for the statistics that will be gathered for your system consists of two parts — choosing the chart timeframe discreteness and choosing […]

August 9
2008

Forex Technical Analysis for 08/11—08/15 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4157 1.4577 1.4791 1.5211 1.5425 1.5845 1.6059 GBP/USD 1.8372 1.8759 1.8984 1.9371 1.9596 1.9983 2.0208 USD/JPY 105.41 106.43 108.31 109.33 111.21 112.23 114.11 EUR/JPY 159.79 […]

August 8
2008

Dollar Experiences Fastest Daily Rally Since 2004

The U. S. dollar rose against euro at a fastest pace since early 2004 today. Although, the growth is mainly attributed to the euros weakness, caused by they commantery made by ECB President Jean-Claude Trichet yesterday, the dollar has also a surge of power, rising against all other major currencies today. EUR/USD lost 270 pips already and is now trading near 1.5016 — level not seen since February. Productivity […]

August 7
2008

Euro Posted a Huge Decline against Dollar

EUR/USD declined today to its new minimum level since June 13 after a bearish commentaries by Jean-Claude Trichet that followed ECBs rate decision. Even bad reports on U.S. employment and housing couldnt save the currency pair from falling. It is now trading near 1.5326 level. Initial jobless claims rose to 455,000 last week, up from 448,000 a week before. Analysts estimated a decline to 420,000 claims for the last week. Pending home sales […]