Breaking News
September 24
2008

Dollar Grows as Existing Home Sales Drop

EUR/USD remained almost unchanged today after the yesterday’s slight correction. The currency pair was in the uptrend for the most part of the day but started to fall after the important economic reports came out today in U.S. It failed to reach the yesterday’s open level and is now trading near 1.4671 rate. Existing home sales in August dropped to 4.91 million units annual rate — down from 5.02 (upwardly revised from 5.00) million units in July. The market analysts expected […]

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September 23
2008

Practical Fibonacci Methods for Forex Trading — Forex E-Book

Fibonacci retracements and extensions technique is quite a popular Forex trading method. Unfortunately, many traders lack the understanding of how and why the Fibonacci levels work and even more traders don’t understand how to use these levels. The little Forex book that I’ve uploaded to my site today will help such traders. This book is titled Practical Fibonacci Methods for Forex Trading and is written […]

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September 23
2008

Yuan Reaches Post-Peg Peak Against Dollar

The Chinese yuan rose today to its new highest level against the dollar as the Forex traders reacted on the U.S. bank-rescue plan of dumping $700 billion into the economy that will hurt some important macroeconomic statistics and increase the supply of dollars. Yesterday dollar showed an exceptionally fast drop against the major currencies on the Forex market. In its reaction to this fall, People’s Bank […]

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September 22
2008

Fit Markets — Another New Forex Broker

Fit Markets was added to the list of the Forex brokers on my site today. It’s a very new broker — it went on-line in the second half of 2008. Its site is till very fresh and a bit awkward, but it’s already advertising quite aggressively on some Forex-related websites. Fit Markets is a broker created by Forex Investment Team AG, a Colombian company which is also registered in Zürich, Switzerland. Fit Markets is regulated by the Swiss banking laws and is audited by a respected Swiss company — BDO Visura. […]

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September 22
2008

$1 Trln. Bail-Out Plan May Cost Dollar Its Gain

Henry Paulson’s plan to rescue the financial institutions tied with the illiquid mortgage assets will not only cost U.S. $1 trillion of tax-payers’ money, but it may also end the dollar’s rally that was rocking the Forex market since mid July. The plan will require about $700 billion to buy out the troubled assets from the banks and other financial institutions and also […]

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September 21
2008

FXD24 — New Forex Broker

I’ve decided to add a new Forex broker to the list on my site today. It’s FXD24 — I’ve seen this broker before, but I’ve been in doubts about it because it looked too suspicious to me. But eventually I’ve thought that adding it to the list isn’t the same as recommending it, so now it’s there. FXD24 is quite new — it went on-line somewhere around December 2007, but its site claims that it’s on-line since 2003, which is the unnecessary lies, in my opinion. […]

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September 20
2008

Forex Technical Analysis for 09/22—09/26 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 1.3707 1.3889 1.4178 1.4360 1.4649 1.4831 1.5120 GBP/USD 1.7246 1.7488 1.7902 1.8144 1.8558 1.8800 1.9214 USD/JPY 100.17 101.85 104.65 106.33 109.13 110.81 113.61 EUR/JPY 141.33 […]

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September 19
2008

Dollar Gains vs. Yen on Government Action

The U.S. dollar rose fastest in more than a month against the Japanese yen today after the financial markets soared stimulated by the joined effort of the U.S., Eurozone’s and Japan’s central banks. The dollar also gained against the European and British currencies after two days of falling. U.S. treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke proposed yesterday to move the […]

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September 18
2008

Dollar Still Down But Got Better After Poor Macroeconomic Reports

The EUR/USD currency pair continued its ride up today before the economical releases in U.S. came out. Surprisingly, positive U.S. stock market opening, bad macroeconomic reports and the EUR/USD correction coincided today. EUR/USD reached 1.4542 today — the highest rate since September 4, but it’s currently trading near 1.4360 level — just slightly above its opening 1.4335 value. Initial jobless claims rose from 445k […]

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September 18
2008

Yen Slides as Central Banks Act Jointly

The Japanese yen fell today against the other major currencies on Forex after the central bank of the developed countries said that they will act together to provide the necessary liquidity to the global financial system. The interbank borrowing cost of the U.S. dollar rose yesterday to the highest level since 1999. Federal Reserve European Central Bank and Bank of Japan joined […]

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