Breaking News
August 19
2008

Pound Falls Against Dollar and Euro

The Great Britain pound fell almost to its recent 2-year low against the U.S. dollar today as the member of the Bank of England monetary policy committee forecasted that the inflation will become less of a problem by the end of 2009. The pound is currently dropping for the 13th day in a row — the longest losing streak since 1971. According to Tim Besley of BoE, the food […]

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August 18
2008

Statistical Forex System — Complexity of a System

The final part of my introduction into statistical Forex system development is dedicated to the complexity of the resulting expert advisor (or automated program if you want to create such strategy for anything else than MetaTrader platform). When traders think about Forex system, they come to a conclusion that a simple trading system can’t be […]

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August 18
2008

Dollar Sees a Correction after 2-Week Rally

The U.S. dollar declined today during the Asian session against other major currencies as the traders realized their profit, closing out long positions, and turned down possibility of the rate increase until the end of the year. The  U. S. currency retreated from the highest level against the Japanese yen since January 2. It also dropped from the highest against the […]

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August 17
2008

Statistical Forex System — Decision Making

After statistical Forex systems were introduced in my blog, I’ve described the problems of timeframe selection and statistics gathering. Now it’s time to discuss the decision making problem of such trading systems. When a completed strategy has enough statistical information and a sample from the current market situation it should have some methods of comparing the statistical information with the sample and make the decision regarding […]

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August 16
2008

Forex Technical Analysis for 08/18—08/22 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4115 1.4388 1.4538 1.4811 1.4961 1.5234 1.5384 GBP/USD 1.7619 1.8066 1.8363 1.8810 1.9107 1.9554 1.9851 USD/JPY 106.64 107.48 108.99 109.83 111.34 112.18 113.69 EUR/JPY 156.39 […]

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August 16
2008

Atlanta Fed Chief Prefers Current Rates

Dennis Lockhart, Federal Reserve Bank of Atlanta President, said that he prefers the current interest rate as the uncertainty regarding the growth and inflation prevails in U.S. He thinks that the rates will be kept unchanged at 2 percent during the next meetings until the end of the year. But debates about raising the rates may arose if the inflation continues to accelerate, said Lockhart in an interview […]

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August 15
2008

EUR/USD Slides to New Monthly Lows

EUR/USD declined to its new minimum level since February 20 — 1.4700. Although it’s currently trading significantly above that level (at 1.4743), there’s a little doubt regarding further trend direction of this currency pair. According to a report that was released today NY Empire State index rose to 2.8 in August compared to -4.9 in July. It was expected to decline to -5.0. Net foreign purchases of the long-term U.S. securities declined in June — from $83.2 billion […]

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August 15
2008

China’s Yuan Heads for 4th Weekly Loss

The Chinese yuan is currently heading for its fourth weekly decline against the U.S. dollar for the first time since the end of the peg to dollar in 2005. The currency dropped just little more than 0.1 percent this week adding to a total of more than 0.7 percent in a losing streak lasting from July 18. The Chinese government is probably cooling down yuan’s appreciation to support the exports […]

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August 14
2008

Dollar Grows on Mixed Data as Euro Goes Down

Dollar rose today against the euro but EUR/USD pair still remained in a mainly sideways trend. A good report on CPI and a rather low decline in the initial jobless claims were mostly ignored during today’s trading session. EUR/USD is currently trading near 1.4901. Seasonally adjusted CPI rate was at 0.8% in July — that’s below June’s 1.1%, but above the average forecast of 0.4%. Initial jobless claims declined […]

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August 14
2008

Pound at New Record Low in Almost 2 Years

The Great Britain pound rose today against the U.S. dollar for the first time in the last 10 days after reaching a new bottom level since the mid October 2006. The expectations that the Bank of England will cut the interest rate at it next meeting rose after BoE reduced its economic growth forecast. Pound managed to lose more than 7.6 percent during […]

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