Breaking News
September 30
2008

Malaysian Ringgit Opens Lower for 6th Day

The Malaysian ringgit like the other emerging Asian currencies continued to fall today as the U. S. Congress failed to pass the $700 rescue plan for the financial institutions and the global volatility rose on the deeper crisis expectations. The Malaysian currency is currently heading for the second month of decline versus the U.S. dollar as the Asian stock markets follow the general trend of the […]

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September 29
2008

Forex Manual — Free Book for Forex Dummies

Forex. On-Line Manual for Successful Trading is one of the best Forex books for beginners I’ve encountered recently and it’s now available to be downloaded for free from my site. Although, it’s not concentrating on any specific Forex related concept, this manual describes everything a new trader needs and wants to know — the history of the Forex market, its functions, its features and advantages, the most popular […]

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September 29
2008

Dollar Gains on Rescue Plan Agreement

The U.S. dollar rose today against the euro and the pound after the U. S. President and Congress leaders reached the agreement on the $700 billion plan to buy out lossy assets from the financial companies. Dollar accelerated its growth after Harry Reid, the Senate Majority Leader, said that the plan will be considered and the Senate will vote on it before October […]

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September 28
2008

Ingot Brokers — Another Swiss Forex Broker

Information about another Swiss Forex broker is now available on my site. Ingot Brokers offers Forex trading along with CFDs, stocks, futures and options instruments, including oil and metals trading. There is a single account for all types of trading and a single trading platform — MetaTrader 4. Ingot Brokers is registered with the Swiss regulatory organization ARIF and is audited by PricewaterhouseCoopers. In my opinion, their webiste looks […]

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September 27
2008

Forex Technical Analysis for 09/29—10/03 Week

EUR/USD trend: sell. GBP/USD trend: sell. 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 1.3981 1.4209 1.4411 1.4639 1.4841 1.5069 1.5271 GBP/USD 1.7843 1.8054 1.8247 1.8458 1.8651 1.8862 1.9055 USD/JPY 102.84 103.94 104.97 106.07 107.10 108.20 109.23 EUR/JPY 149.97 […]

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September 26
2008

Dollar Trembles as GDP Report Show 0.5% Less

EUR/USD rose today after the U. S. GDP Q2 results release disappointed many traders. The global stock markets also fell and not the last reason for that was the complete uncertainty about the $700 billion rescue plan. EUR/USD is currently trading near 1.4638 level. GDP in the second quarter of 2008, according to the final revision report, rose at an annual rate of 2.8% — that’s 0.5% below the […]

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September 26
2008

Euro May Fall against Dollar on Paulson’s Plan

The bet on the euro short positions may increase in the following months as the Paulson’s rescue plan may pull out the U.S. financial system from the crisis, while the Eurozone’s economy will be in recession. According to UBS investment bank, traders should sell euro against dollar as the Europe’s economy weakens. Germany’s business confidence is currently showing the lowest level in the last 3 years. U.S. government will […]

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September 25
2008

Dollar’s Giving Up on Poor Fundamentals

Weak fundamentals will probably make Fed to cut the interest rate one more time by the end of the year. At least the dollar’s bearish movement on Forex today indicate that. EUR/USD reached its peak above the yesterday’s high and posted the first positive result in three days. It now trades near 1.4715 level. Durable goods orders unexpectedly decreased by 4.5% in August, following 0.8% increase in July […]

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September 25
2008

USD Fell as Rescue Plan May Include Rate Cut

The U.S. dollar dropped against three other major currencies for the first time in three days today after George  W. Bush said that U.S. may enter a long and painful recession period if the necessary measures aren’t taken soon. Current macroeconomic indicators in combination with the Bush’s speech suggest that the $700 billion rescue plan for the financial system may also include interest […]

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September 24
2008

Korean Won and Other Asian Currencies Fall

The Asian currencies declined today against the U.S. dollar as the delay of the U.S. financial rescue plan may diminish the attractiveness of the risk-ridden regional currencies in conjunction with the economic output decline in Asia. The basket of the 10 major Asian currencies fell today after the yesterday’s testimony of the Federal Reserve Chairman Ben Bernanke and the U.S. Treasury Secretary Henry Paulson before the Congress regarding the $700 billion plan. The Congress’ reaction to this plan isn’t obvious and the debates about it may […]

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