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February 2
2009

EUR/USD Rises as Manufacturing ISM Grows

EUR/USD advanced today after the weekly opening gap and even rose above the Friday’s close level. Some of the fundamental reports in U.S. were slightly better than the traders have expected, so the currency markets reacted with the growing high-yielders. EUR/USD is currently trading near 1.2838. Personal income decreased by 0.2% in December after falling by 0.4% in November. Personal spending declined by 1% in December following […]

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February 2
2009

Euro Falls as Traders Lean to Safety

The euro declined today against the Japanese yen as the traders sold the risky assets and moved to the «safe cash» after the Asian stock markets tumbled today; investors also expect that the inflation report in Eurozone will add more space for ECB to cut the interest rate. Against the U.S. dollar the European currency showed a significant decline during […]

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February 1
2009

18 Trading Champions Share Their Keys to Top Trading Profits

New ebook was added to the trader’s library on my site today — it’s 18 Trading Champions Share Their Keys to Top Trading Profits by FWN (Financial World News). The book offers 18 success stories of the famous professional traders of the 20th century. The list of the eighteen includes such well known-traders as Tom DeMark, Cynthia Kase, Linda Bradford Raschke and Larry Williams. Each of the success stories is concluded […]

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January 31
2009

Forex Technical Analysis for 02/02—02/06 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: hold. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2042 1.2403 1.2607 1.2968 1.3172 1.3533 1.3737 GBP/USD 1.2882 1.3214 1.3877 1.4209 1.4872 1.5204 1.5867 USD/JPY 86.03 87.14 88.52 89.63 91.01 92.12 93.50 EUR/JPY 106.98 […]

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January 31
2009

Korean Won Leads Asian Currencies Decline

The South Korean won was the worst-performing currency among the Asian ones this month as the investors moved out of the country’s assets and the exports to the developed economies fell sharply. The drop of the Korean won against the U.S. dollar is already at 8.7 percent this year — that’s the worst January performance for this currency. The Asian shares tumble as the demand and […]

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January 30
2009

Dollar Continues to Gain as GDP Falls in 4th Quarter

EUR/USD continued to fall today for the fourth straight day as the advance GDP report for the fourth quarter showed a considerable decline of the economic output in U.S. The currency pair is currently trading near 1.2795. GDP (advance) in the Q4 of 2008 decreased at an annual rate of 3.8%. The decline followed 0.5% contraction in the third quarter, but was significantly below the estimated 5.4% drop. Chicago […]

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January 30
2009

Yen Grows against High-Yielders

The Japanese yen is currently positioned as the locomotive of growth on the Forex market as the global economic slowdown takes its toll, keeping the traders and investors away from the risk-ridden high-yielding currencies. Despite the great problems with the economic situation in the home countries of the so called «safe haven» currencies, the traders’ expectations for the deepening of the recession in all the […]

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January 29
2009

EUR/USD Falls Steadily as Economic Conditions Worsen in U.S.

EUR/USD posted a rather deep decline today after showing some weak drops during the previous two days. The  U. S. macroeconomic reports from the employment, industrial and housing sectors were all negative today. EUR/USD is now trading near 1.2976 after opening at 1.3150. Durable goods orders decreased by 2.6%, while the consensus forecast for the decline was at 2%. More than that, […]

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January 29
2009

New Zealand Dollar Falls on Rate Cut

The New Zealand currency declined against the U.S. dollar, the yen and its Australian counterpart today after the country’s central bank decided to cut the interest rate to a record low amidst the raging recession. The Reserve Bank of New Zealand reduced the official cash rate (OCR) to 3.5 percent down from 5 percent. The same 1.5 percent cut was conducted also on December 4. Analysts […]

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January 28
2009

Dollar Falls on Banks Support Expectations

The U.S. dollar along with the yen declined against almost all other major currencies today as the traders expect that the bank bailout plan will be adopted soon in the United States. The dollar declined also because the Federal Reserve will end its two-day meeting today and will probably announce some additional measures to ease the credit conditions, providing […]

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