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September 17
2008

Euro Rises Against Dollar on Housing Decline in U.S.

Dollar dropped its position against the euro today after the yesterday’s interest rate decision failed to support the U.S. currency for more than several hours. Poor housing reports showed another (unnecessary) sign of the ongoing recession in the United States. At this level interest rate don’t play the role they usually do. Traders try to look at the countries’ financial system and sell the […]

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September 17
2008

Pound Falls vs. Euro After Jobless Report

The Great Britain pound fell against the euro, while being moderately up against the other major currencies, after the release of the BoE’s minutes and the jobless claims report in the United Kingdom today. As the released minutes of the Bank of England last meeting showed, the interest rate was left unchanged at 5 percent because the inflation risk still weighted over the recession […]

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September 16
2008

Dollar Stands Firmly After Record Low TIC Inflow

EUR/USD declined today during the whole trading session as the stock markets were also falling globally. Now  U. S. indexes remain in the neutral zone, but the dollar still stands well against the euro, even after some really bad statistics from U.S. A rapid downfall of EUR/USD followed the Fed’s interest rate decision today and the currency pair now trades near […]

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September 16
2008

Yen Rises for Second Day on Credit Losses

The Japanese yen rose to the new monthly and yearly maximum against the other major currencies traded on Forex today as the situation with the financial crisis worsened significantly through the weekend and Monday and the traders expect no improvement in the near future. The carry trade counterparts of the yen suffered the most during the last two trading days — both […]

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September 15
2008

EUR/USD Down Despite U.S. Manufacturing Decline

EUR/USD is down today on Forex after a big positive week-opening gap. The currency pair reached its 10-day high level during the early trading session but then declined below the Friday’s close level quite fast. Bad macroeconomic statistics from U.S. pushed EUR/USD up, but it still trading in the red zone — near 1.4187 level. NY Empire State index, related to the manufacturing, declined from 2.8 to -7.4 in […]

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September 15
2008

Pound Rises vs. Dollar on Rate Cut Bets

The British pound rose today against the U.S. dollar as the traders started to bet on the interest rate cut in the United States based on the recent catastrophic developments in the country’s financial sector. Although many currencies opened this week with a huge positive gap against the dollar, pound remains one of the few that still hover above the open rate and show […]

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September 14
2008

How George Soros Knows What He Knows?

This question is often asked by the traders that know who George Soros is. Unfortunately, there is no definite and accurate answer to this question. But it’s possible to model his trading behavior and understand what should be made by Soros-wannabe to reach the same level of the market intuition. Flavia Cymbalista, Ph.D., does that successfully in her scientific paper, which is entitled «How George Soros Knows What He Knows» […]

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September 13
2008

Forex Technical Analysis for 09/15—09/19 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 1.3380 1.3630 1.3927 1.4177 1.4474 1.4724 1.5021 GBP/USD 1.7072 1.7259 1.7600 1.7787 1.8128 1.8315 1.8656 USD/JPY 103.29 104.68 106.30 107.69 109.31 110.70 112.32 EUR/JPY 138.84 […]

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September 12
2008

Major Correction Wave Detected on EUR/USD

Dollar lost its gaining pace yesterday, but today a real correction came to the Forex market. Whether it’s a pure technical retracement or this movement has some fundamental basement, dollar has gained enough during the last month and can now retreat without leaving the long-term upward trend. EUR/USD is currently trading near 1.4101 level. Producer price index declined by 0.9% compared to the previous […]

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September 12
2008

Buy AUD for NZD Can be Next Big Trade Idea

The Australian currency may experience considerable gains against the New Zealand dollar soon as the New Zealand’s central bank showed commitment to the extreme rate cutting in the fear of recession, while Australian central bank may refrain from changing the rate for now. Over the next year, New Zealand’s interest rate may decline by as much as 1.28 percent according to the traders’ futures betting. Meanwhile, […]

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