Blog – Page 317

March 6
2008

Is 1.5400 a Limit for EUR/USD?

Today EUR/USD renewed its historical maximum on Forex market again. With almost every day for this currency pair being positive in gain, the question arises where will it stop? So, where is the medium-term resistance for EUR/USD? Is it 1.5400? 1.5000 was a major psychological barrier; after it was broken recently the EUR/USD has already reached 1.5372. In my opinion, dollar will continue to fall for as long as the […]

March 5
2008

Dollar Continues to Lose Positions

Dollar continued to lose its positions on Forex market today. After the major economic releases came out in U.S. EUR/USD touched a new absolute maximum at 1.5300 and even GBP/USD recovered from the weekly bottom, which was formed after the bad macroeconomic statistics in was released in U.K this morning. Productivity in the non-farm sector of economy in the fourth quarter of 2007 grew faster than expected at 1.9%, […]

March 4
2008

BTRFX Unlisted from Brokers List

I had to remove Boston Trading and Research form the my Forex brokers list, because judging from their website BTRFX is no longer a retail broker. Now they offer managed Forex accounts and are performing quite well (according to BarclayHedge). Personally, I wouldnt trust them too much, because they dont seem to be registered with any U.S. or international regulator. According to some Forex related forums posts (babypips.com and […]

March 3
2008

Martingale Trading System in Forex

Martingale system is a popular betting and trading system, which is commonly used in bets with equal or close to equal chances (red-black, odd-even, heads-tails etc.) According to martingale system gambler (trader) should double his bet after every loss and return the bet to initial amount with every winning bet. E.g. gamblers bets $10 on red, if he wins he bets $10 again, if he loses he bets $20 on red, if he loses again he bets $40 etc. If the gambler is has […]

March 3
2008

EUR/USD Renews Its Maximum

Today EUR/USD renewed its historical maximum value on Forex. It touched 1.5275 shortly after the news releases from U.S. concerning the construction spendings and ISM index for manufacturing business came out. The currency pair dropped down significantly after hitting this new maximum and is now trading near 1.5210. Construction spending in January fell compared to […]

March 2
2008

Carnival of Forex Trading — March 2, 2008

Welcome to the March 2, 2008 edition of Carnival of Forex Trading. Sagar presents 13 Unconventional Factors that Affect the Dollar posted at CurrencyTrading.net. ioventuresinc.com presents Forex Trading The News | Tips and Tricks posted at Forex Strategy Secrets, saying, “Trading the news can be very profitable, but can also produce some of your biggest […]

March 1
2008

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

EUR/USD trend: hold. 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 1.4431 1.4605 1.4891 1.5065 1.5351 1.5525 1.5811 GBP/USD 1.9324 1.9469 1.9680 1.9825 2.0036 2.0181 2.0392 USD/JPY 97.67 100.67 102.20 105.20 106.73 109.73 111.26 EUR/JPY 152.25 […]

February 29
2008

Dollar a Bit Stronger at the Week’s End

The U. S. managed to fall to another record low value today at 1.5238 per euro but recovered from a daily loss and even gained somewhat against the European currency. Personal income statistics was a little better than expected today and Michigan consumer confidence index was also revised towards the improvement. Personal income in January rose by 0.3% better than the expected 0.2%, but […]

February 28
2008

EUR/USD at 1.5179 After GDP News Release

GDP release today in U.S. pushed dollar down after yesterdays macroeconomic statistics and allowed EUR/USD to reach a new record at 1.5179. Meanwhile GBP/USD decelerated its pace a little and turned to a less bullish trend today. The preliminary GDP data for the third quarter showed 0.6% growth the same as it was in the advance release a month ago, but below the expected 0.8%. Thats quite a poor […]

February 27
2008

EUR/USD Breaks Records as Dollar Falls Deep

Today EUR/USD reached its new historical maximum at 1.5105 as the dollar continued to weaken both on the rates cut expectations and later — bad macroeconomic data releases in U.S. Durable goods orders — a very important indicator of the business’s health — decreased 5.0% in January, more than the expected drop of 0.4%. New home sales in January fell to 588,000 annualized rate — below the December’s 605,000 and forecasted January value of 600,000. Crude oil inventories […]