Breaking News
April 6
2009

NZD Reaches Highest since Early January

The New Zealand dollar rose to the highest level since early January 2009 today, backed by the support from the continuously growing emerging and developed stock markets. The kiwi (as the NZD is often called by the Forex traders) also rose against the Australian dollar, which advanced against the «safe haven» currencies too. The New Zealand dollar rose to the 5-month high […]

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April 5
2009

Japanese Candlestick Patterns

Many traders ask me for the detailed descriptions of the Japanese candlestick patterns that are detected by the MT4 indicator Pattern Recognition Master. So, here is the list of the patterns that it can recognize with the corresponding chart pictures and signal descriptions: Bearish patterns Shooting star. Can signal an end of the bullish trend. Should be confirmed by other patterns. The longer the shadow the stronger the signal.   Evening star. Acts as a stronger trend reversal signal. Note that […]

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April 4
2009

Forex Technical Analysis for 04/06—04/10 Week

EUR/USD trend: buy. GBP/USD trend: buy. USD/JPY trend: buy. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2820 1.2966 1.3225 1.3371 1.3629 1.3775 1.4034 GBP/USD 1.3615 1.3862 1.4351 1.4598 1.5087 1.5335 1.5823 USD/JPY 93.03 94.50 97.41 98.89 101.79 103.27 106.17 EUR/JPY 120.47 […]

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April 3
2009

EUR/USD Falls Deeper to Nonfarm Payrolls Decline

Euro was trading in the red zone against the dollar for the major part of the today’s trading session but immediately after the report on the U.S. employment sector was released, the EUR/USD currency pair hastened down considerably. Currently it’s trading near 1.3400. Nonfarm payrolls fell by 663k in March, following February’s drop by 651k. The payrolls were expected to fall by 658k. Unemployment rate rose […]

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April 3
2009

KRW Falls as Government Cools Optimism

The South Korean won declined today against the U.S. dollar after rising for the whole week after the country’s government said that the current investors’ outlook for the economy are too optimistic. The currency was in the uptrend this week as the markets have seen a serious decline in the risk-aversion. Despite the rising stock markets in the Asian region, the […]

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April 2
2009

Euro Peaks High against Dollar as Rate Cut is Slow

EUR/USD rose at a very fast pace today, posting the biggest daily gain since March 18 so far. Mixed news on the U.S. fundamental indicators didn’t affect the trading much as the Forex traders looked at the ECB’s rate cutting action. EUR/USD is currently trading near 1.3413. Last week initial jobless claims were reported at 669k, which is 12k above than 657k (revised up from 652k). Traders expected […]

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April 2
2009

Pound Gains as House Prices Rise

The British pound rose today against the other major currencies as the house prices demonstrated growth for the first time since October 2007 in United Kingdom this March. The market participants expected that the March report on the nationwide house prices in Great Britain will show a continued decline on the recessing economy. They were wrong as the report showed 0.9 percent month-to-month growth […]

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April 1
2009

Forex Market is Closing Down

Some people predicted it long ago, but no one really believed it until today. It was announced by the BIS (Bank for International Settlements), IMF (International Monetary Fund) and the world’s leading private banking institutions that the traditional Forex market is going to be closed very soon. The retail Forex market attracted to much attention from the general public, creating riches for some and making others poor. It was decided that all on-line Forex brokers […]

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April 1
2009

EUR/USD Down Slightly after Series of Reports

EUR/USD fell from 1.3242 to 1.3222 (only 20 pips) today. The news reports from U.S. were mixed, but they were bad enough to destroy the market optimism and shift the focus on the Forex from the dollar’s weakness to tomorrow’s ECB rate decision. According to ADP report, the private nonfarm employment declined by 742k in March after falling by 706k in February (revised down from 697k). The report was […]

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April 1
2009

Euro Declines on Unemployment Report

The single European currency declined today to the levels close to its 2-week low before and after the report on Eurozone February unemployment negatively surprised the traders. The Japanese yen, the U.S. dollar and the British pound all gained against the euro as the investors expected that the jobless rate will grow in the Eurozone at faster pace than the analysts […]

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