Blog – Page 308

June 27
2008

EUR/USD Faces a Slight Correction

EUR/USD corrected slightly today after fundamental data both from U.S. and Eurozone showed more support for the dollar rather than for the euro. Important consumer spending and income data arrived from U.S. today, while Eurozone released its business and consumer survey. EUR/USD fell from 1.5750 to 1.5742 today. Personal income and outlays report showed 1.9% and 0.8% growth […]

June 26
2008

EUR/USD on Upward Trend Unaltered by GDP Report

EUR/USD didnt change from its upward trend today after the final Q1 GDP data was released. The currency pair continued to grow for a third day in a row and advanced today from 1.5664 to 1.5737 after the most important fundamental reports for today were released in U.S. GDP in the first quarter of 2008 advanced at an annual rate of 1.0 percent — higher than 0.9 percent growth reported in the preliminary report and it has met the analysts expectations. Initial jobless claims didnt change last […]

June 25
2008

Dollar Falls Insignificantly on Neutral Fundamentals

EUR/USD grew today from 1.5571 to 1.5573 making it a second gaining day this week, but its still trading below the Monday open rate (which is 1.5627). All fundamental releases were quite neutral today, so they couldnt help much neither dollar nor euro. Forex market participants await FOMC rate decision today. Durable goods orders remained unchanged in May after a 1% decrease in April — and according to the market […]

June 19
2008

EUR/USD Down for the First Day This Week

EUR/USD posted its first daily decline this week today — it went down from 1.5528 to 1.5489. Even bad employment data didnt help the euro to get higher against the U.S. dollar. Initial jobless claims fell from 386k to 381k last week, but nevertheless were higher than 375k forecast. May leading indicators rose 0.1% in May a similar growth in April and forecasted stagnation for […]

June 17
2008

U.S. Dollar Continues to on Fall Weak News

EUR/USD went up today but it failed to reach the yesterdays gain or to go above the Thursdays open level. The economic news from U.S. were weak except the Producer Price Index indicator, which benefit for the dollars appreciation is debatable. PPI in May rose 1.4%, while core PPI gained 0.2% during the same period. The forecast values were 1.0% and 0.2% respectively. May increase followed […]

June 16
2008

Dollar Declines in Correction

The dollar declined today on the Forex market as the growth that it has experienced during the last week required some correction. EUR/USD currency pair went up from 1.5404 to 1.5517 today. The fundamental background was mixed today in the United States. NY Empire State manufacturing survey showed a decrease in the index it went down from -3.2 in May to -8.7 in June, still indicating a pre-recession condition in the manufacturing sector of the […]

June 15
2008

EUR/USD Trade Idea for the Next Week

EUR/USD daily chart is currently showing a good possibility of a bearish breakout from the range traded since April 22. You can see the present range on this picture below: If the next trading day closes below the current support line (which is near 1.5379 level), there is a great possibility of a fast drop on EUR/USD down to about 1.5000 rate. On the other hand it can fall back from the current […]

June 14
2008

Forex Technical Analysis for 06/16—06/20 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4632 1.4967 1.5173 1.5508 1.5714 1.6049 1.6255 GBP/USD 1.8931 1.9169 1.9323 1.9561 1.9715 1.9953 2.0107 USD/JPY 101.69 103.06 105.63 107.00 109.57 110.94 113.51 EUR/JPY 163.03 […]

June 12
2008

Dollar Got Pushed Up by Today’s Fundamental Reports

The EUR/USD currency pair sunk down below the yesterdays close level as the U.S. dollar continued its growth today after some good fundamental reports were released in the United States. Both retail sales and business inventories fulfilled the dollar bulls expectations today. Import and export prices rose in May by 2.3% and 0.3% respectively. That growth followed 2.4% and 0.5% […]

June 11
2008

FX Destroyer Strategy Ebook

I uploaded a new Forex ebook to the site today its called FX Destroyer. It was sent to me by one of the site visitors a couple of days ago. Although its full of advertising and it cant be considered a «real book» due to the lack of theoretical base, it offers an interesting yet simple trading strategy that is free for everyone to try. I hadnt enough time to test fully the FX Destroyer strategy that is presented in this ebook, but I hope that […]