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October 12
2008

Forex Technical Analysis for 10/13—10/17 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 1.2655 1.2957 1.3182 1.3484 1.3709 1.4011 1.4236 GBP/USD 1.5749 1.6268 1.6658 1.7177 1.7567 1.8086 1.8476 USD/JPY 90.09 94.00 97.33 101.24 104.57 108.48 111.81 EUR/JPY 118.73 […]

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October 10
2008

CAD Weakest since March 2007 on Oil Slump

The Canadian dollar fell to the weakest level against the U.S. dollar in more than 18 months after crude oil and commodity prices fell significantly on speculation that the global demand will decline. This week showed traders the fastest decline of the Canadian dollar against its U.S. counterpart — it lost more than 7.3 percent in three and a half days so far. Last week it depreciated […]

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October 10
2008

Rupee Falls to Record Low on Rate Cuts

The Indian rupee fell to the new record low level versus the U.S. dollar today as the foreign investors pulled out capital out of the country’s markets amid deepening of the global financial crisis. The rupee has already dropped about 2.6 percent against the dollar this week. The country’s central bank cut the interest rate by 50 percentage points on Monday and additional 100 percentage points […]

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October 9
2008

Third Day of Growth on EUR/USD

EUR/USD is growing for the third day straight now. Although the gains are quite modest, the divergence indicators show that the current correction may turn into quite a large bullish wave for this currency pair. EUR/USD is currently trading at 1.368 — a gain of 37 pips from the today’s open. Initial jobless claims posted an expected drop last week — they fell from 498,000 (upwardly revised […]

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October 9
2008

Yen’s Gains Reverse after Massive Rate Cut

The Japanese yen fell against other major currencies today after reaching record highs yesterday as the massive rate cut by the world’s major central banks inspired some confidence in the stock markets. The yen also declined versus its traditional carry trade counterparts — such as Australian and New Zealand dollars. Not like the carry trade began to attract the investors again, but […]

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October 8
2008

Japanese Yen Breaks Past 100 per Dollar

The Japanese yen demonstrated a breakthrough growth against almost all major currencies today as the stocks tumbled globally and traders sought the «safe haven» assets. The yen broke through the 100 per U.S. dollar mark for the first time since April this year. The yen also rose significantly against the euro and the pound today. It reached the lowest […]

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October 8
2008

Dollar Falls for Second Day as U.S. Markets Not Revived by Rescue Plan

EUR/USD currency pair is growing for the second day in a row today after the Federal Reserve and the major central banks cut the interest rates to provide additional help to the tumbling markets. Fed cut the interest rate from 2% to 1.5%, Bank of England — from 5% to 4.5%, European Central Bank — from 4.25% to 3.75%, Bank of Canada — from 3% to 2.5% and Swiss National Bank — from 2.75% to 2.50%. This didn’t influence dollar much — it continued to fall despite […]

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October 7
2008

Australian Dollar Rebounds after Rate Cut

The Australian dollar got boosted by the central bank’s decision to cut the interest rate by 1 percentage point today and recovered against the other major currencies during the Asian trading session. Not only the rate cut didn’t act as the usual negative factor for the currency’s valuation, but it also helped the Aussie (a nickname for the Australian dollar) to go up from the record-low values against […]

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October 6
2008

OrderSend Error 130 — What to Do?

The expert advisors that work on one broker can stop working on another; the problem with them often lies in OrderSend Error 130. If you see Error 130 in the Log of your MetaTrader platform when your expert advisor should be opening a position, then that means that the stop-loss or take-profit levels are set to close to the current market price. In the MQL documentation this error is called ERR_INVALID_STOPS («Invalid stops»). Some Forex […]

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October 6
2008

Euro at 2-Year Low on Europe’s Credit Crunch

The European currency fell to the lowest level in the last two years against the Japanese yen and the weakest level in more than 13 months against the U.S. dollar today as the credit crisis urged Eurozone’s governments to pledge a help to the troubled financial institutions. The euro declined against the U.S. dollar for the sixth day in a row today after opening with a considerable […]

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