Breaking News
November 19
2008

Yen Gains After Two Days of Decline

The Japanese yen rose slightly today after losing for the two days on the currency trading market as the U.S. bail-out plans failed to raise the confidence in the high-yielding assets, favoring the yen as the safe-haven currency. Investors has hoped that the part of the $700 billion plan proposed by the U.S. Treasury Secretary Henry Paulson would go to the car manufacturers (GM, Ford […]

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November 18
2008

EUR/USD Down After Negative PPI, Steady Foreign Inflow

EUR/USD was trading with a very limited volatility today and currently stays slightly below the opening level after another portion of the mixed macroeconomic statistics came from U. S. EUR/USD is currently trading at 1.2586. PPI (Producer Price Index) dropped by 2.8% in October after declining by 0.4% in September. It should have dropped only by 1.8%, according to the analysts’ forecast. Core PPI gained 0.4% — the same […]

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November 18
2008

Singapore Choose to Depreciate Its Currency

Singapore dollar declined for the sixth day against they U.S. dollar today as the country’s monetary authorities will probably use the weak national currency as a stimulus for the export-producing economy. All major world’s central banks reduced their target interest rates earlier to fight the financial crisis. The Monetary Authority of Singapore may devalue SGD against the basket of foreign currencies in order to revive […]

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November 17
2008

Japan Enters Recession, Yen Tumbles

The Japanese yen declined against the other currencies today after opening with a positive weekly gap as the world’s third largest economy contracted for the two consecutive quarters according to the Japan’s government. The Gross domestic product (GDP) decreased 0.1 percent in the third quarter of 2008 according to the preliminary report by Japan’s Economic and Social Research Institute. This contraction followed 0.9 percent decline of GDP in the second […]

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November 17
2008

EUR/USD Up on Mixed U.S. Fundamentals

EUR/USD grew up today after some bearish weekly gap and a major decline last Friday. The  U. S. fundamentals that were reported today showed some mixed results, probably, hurting the dollar’s positions on the Forex market. EUR/USD is currently trading near 1.2670. NY Empire State index declined in November from -24.6 to -25.4, showing a further contraction in the manufacturing sector. The median forecast by the market analysts […]

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November 17
2008

Band Moving Average — Pull-Back Indicator

One of my site’s visitors offered an interesting idea of a MetaTrader indicator to me. At first glance, the indicator is very simple and quite useless. The general idea was to modify the standard Moving Average indicator that comes with MT4, so that the two more bands would be added to it. One band should be below the main line by 2% and the other — above by 2%. Then this indicator could be used as a pull-back detector: when the price breaks through the upper band […]

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November 16
2008

FXTSwiss — New Swiss/Austrian Forex Broker

FXTSwiss is a new Forex trading broker that started to offer its services on-line this year. It’s a Swiss broker with the company’s headquarters based in Austria. FXTSwiss isn’t regulated by any financial authority. It offers MetaTrader 4 platform with the really low spreads (1 pip on major currency pairs). The trading accounts are Muslim-friendly because they are swap-free. The Forex brokers also offers free trading recommendations to its […]

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November 15
2008

Forex Technical Analysis for 11/17—11/21 Week

EUR/USD trend: sell. 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 1.1815 1.2102 1.2353 1.2640 1.2891 1.3178 1.3429 GBP/USD 1.2909 1.3733 1.4236 1.5060 1.5563 1.6387 1.6890 USD/JPY 89.52 91.99 94.53 97.00 99.54 102.01 104.55 EUR/JPY 106.43 […]

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November 14
2008

Dollar Firms as Export and Import Prices, Retail Sales and Business Inventories Drop

EUR/USD declined today after rising above the week’s opening level yesterday as the dollar-bullish traders got help from the sale of the euro-denominated assets spurred by the worsening of the global macroeconomic situation. EUR/USD is currently trading near 1.2690. The U.S. export prices fell by 1.9% in October, while the import prices decreased by 4.7% during the same period. This decline followed the 2-month […]

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November 14
2008

FXcast Announces New Type of Forex Traders Competetion — FXcast Trader’s Hall of Fame

FXcast announced a new type of the Forex trader’s competition today — the Hall of Fame type of competition. You don’t need to open some special account for it or pay for entering the competition. The contest is judged upon the monthly performance of your real trade account. The performance is denominated in the percentage to your monthly starting account and will only include your actual trading results. This way you can win the real prizes using even your starting $10 real […]

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