Blog – Page 330

October 11
2007

Dollar Loses on Good U.S. Trade Balance

A significantly improved trade balance of the United States was reported today with the value of -$57.6B ($1.6B improvement from previous month). While narrowing trade balance deficit is a good news for the whole U.S. economy a reaction on this news wasn’t very good on the currency market. Dollar stopped its strengthening and gave up almost 100 points against Euro currency hitting 1.4240 daily maximum on EUR/USD. Some other […]

October 9
2007

FXcast Now Offers Exchange Service

FXcast Forex broker now offers e-currency exchange services to its customers. They offer almost free exchange of e-gold to WebMoney or Liberty Reserve. This service is done with the low 2.7% commission which is fully compensated after the trader close a specific amount of positions This amount is determined as $10 of commission for every 1 full standard Forex lot. I think it is a good addition to a Forex […]

October 8
2007

Interview with FXOpen Forex Broker

Recently I’ve asked management from FXOpen to answer several questions in a format of an interview to get more information on this fast developing on-line Forex broker. Denis P., FXOpen Head Manager, agreed to answer these questions and now I can present them to you. They are an on-line Forex broker which was previously known as FXEgypt and rebranded to FXOpen just about two months ago. You can find more […]

October 5
2007

Employment Situation in U.S. Improving

Dollar continues its volatile market dance with Euro currency undecided whether to go south back to 1.4000 or break through to 1.4500. Recent bad fundamental news made positive effect on dollar, most probably because of financial institutions cashing out of stock markets. But today this “bad news — strong dollar” trend was broken. September nonfarm payrolls came out at 110k — even better than already […]

October 4
2007

Carnival of Forex Trading — October 4, 2007

Welcome to the October 4, 2007 edition of carnival of Forex trading. Only three quality Forex trading articles this time — definitely not too many. But they all are worth reading. No useless talking, but an interesting reading. Thomas Ott presents A Review Of My Forex Trading posted at Neural Market Trends, saying, “Iâm closing in on my 1 year anniversary of trading Forex my $100 Forex Experiment. I did really […]

October 3
2007

Bad Fundamentals Good for USD?

While dollar continued to rebound its weak positions today after EUR/USD failing to break 1.4180 resistance, fundamental stats from United States again came out below expectations. And again this caused a dollar rally against the Euro currency. ISM report on business activity for September 2007 showed a decrease by 1% — from 55.8% to 54.8% — well below the pessimistic expectation of 55.0%. After this report dollar went high […]

October 1
2007

Bad ISM PMI Pushes Dollar Up?

EUR/USD hit another historical maximum today — 1.4281 and then unexpectedly retreated back to 1.4220–1.4230 levels. A still strong resistance value lies slightly below 1.4300 which is preventing EUR/USD to shoot up to 1.4500 or even farther. Every trader now must look towards Fed’s Bernanke’s decisions and ECB’s Trichet’s reaction on Euro/Dollar overvaluation (of it is possible in open market). Fundamental analysis now speaks more for the stocks […]

September 30
2007

Forex Technical Analysis for 10/0110/05 Week

EUR/USD trend: buy.GBP/USD trend: buy.USD/JPY trend: hold.EUR/JPY trend: hold. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3908 1.3985 1.4125 1.4202 1.4342 1.4419 1.4559 GBP/USD 1.9804 1.9944 2.0208 2.0348 2.0612 2.0752 2.1016 USD/JPY 113.02 113.52 114.17 114.67 115.32 115.82 116.47 EUR/JPY 158.92 159.97 161.87 162.92 […]

September 25
2007

EUR/USD Reaches New Historical Maximums

With the consumer confidence surveyed in this September fall beneath the level of 1985 (from 105.6 to 99.8) the U.S. dollar can’t hold its position and loses almost 100 pips on EUR/USD rallying it to a new historical maximum at 1.4154. While mortgage problems in U.S.A. continue to crush real estate sector throwing existing home sales to 5.5 millions in August (in July this number was 250,000 higher), consumer confidence — one […]

September 24
2007

EUR/USD 1.4500 by the End of This Year?

With the Fed’s rather predictable decision on interest rates cut by 0.50% September 18 (last Wednesday) dollar was doomed to cross the 1.4000 level (on EUR/USD). Its fall continued through all days left after the Fed’s statement release. Hitting historically high levels with the maximum at 1.4120, USD ended last week above 1.4000, thus opening further opportunities for the EUR/USD to go to the new maximums. This week can […]