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August 13
2008

EUR/USD Gains on Neutral Fundamentals

EUR/USD rose slightly today, probably as a result of the technical correction processes that should have followed the recent rapid growth of the dollar. Today’s fundamental releases from U.S. were average and they couldn’t move the currency pair too far up or down. EUR/USD is currently trading at 1.4937 with the daily high still below the important level of resistance located at 1.5000. Export and import prices gained […]

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August 13
2008

Poland Needs to Adopt Euro More Urgently

According to Regional Development Minister of Poland Elzbieta Bienkowska, euro should be adopted as soon as possible because zloty’s appreciation partially eliminates the value of the financial aid made by European Union and which is denominated in euro. There is also a concern about the damage to the economic growth that may be caused by the rapidly strengthening national currency. Bienkowska urged country’s financial authorities to accelerate the euro adoption process: Looking […]

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August 12
2008

Good Trade Balance and Treasury Budget Reports Fail to Stop Correction on EUR/USD

Although, EUR/USD moved slightly above its opening level, this currency pair remained highly volatile today and reached a new minimum record since February 26 at 1.4815. The bullish spiked reached 1.4964 level. It failed to break above the 1.5000 resistance which may form a new psychological roof level for the next couple of weeks. Trade balance deficit shrank in June as the exports grew significantly faster than imports. The deficit decreased to $56.8 billion — down […]

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August 12
2008

Aussie and Kiwi Continue Bearish Trend

Both Australian and New Zealand currencies continued to fall against the U.S. dollar today as the traders’ confidence that the central banks of those countries will cut interest rates soon rose and the dollar continued its growth against euro, pound and yen. The Australian dollar (also known by its nickname Aussie) has already lost more than 11.3 percent since it reached […]

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August 11
2008

Statistical Forex System — Gathered Information

Earlier I’ve described the statistical Forex systems and introduced the problem of choosing the right timeframe to gather the statistics for such systems. Today I will try to describe the problem of choosing the right information that is collected for the statistical trading system. Gathering the statistics over a chosen period of time for the given market instrument is the next step to create a successful statistical […]

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August 11
2008

Recent Dollar Gain May Mean Big Drop Soon

The recent fast growth of the U.S. dollar against the euro doesn’t mean that it’s out of the long-term bearish trend. Slowing economy and the risk of rate cuts even with a rising inflation are still weighing down on dollar. Since the beginning of August the dollar surged 4 percent against the Eurozone currency. This was enough for many large investing banks to advice their […]

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August 10
2008

Statistical Forex System — Choosing Statistics Timeframe

In one of the previous posts I’ve introduced the statistical Forex system definition and marked up the important problems that should be solved in the process of its creation. Here I will try to explain more about the problem of the statistics gathering. Choosing the timeframe for the statistics that will be gathered for your system consists of two parts — choosing the chart timeframe discreteness and choosing […]

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August 9
2008

Forex Technical Analysis for 08/11—08/15 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 1.4157 1.4577 1.4791 1.5211 1.5425 1.5845 1.6059 GBP/USD 1.8372 1.8759 1.8984 1.9371 1.9596 1.9983 2.0208 USD/JPY 105.41 106.43 108.31 109.33 111.21 112.23 114.11 EUR/JPY 159.79 […]

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August 8
2008

Dollar Experiences Fastest Daily Rally Since 2004

The  U. S. dollar rose against euro at a fastest pace since early 2004 today. Although, the growth is mainly attributed to the euro’s weakness, caused by they commantery made by ECB President Jean-Claude Trichet yesterday, the dollar has also a surge of power, rising against all other major currencies today. EUR/USD lost 270 pips already and is now trading near 1.5016 — level not seen since February. Productivity […]

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August 8
2008

Euro Drops to 5-Month Low on Rate Outlook

The euro fell to its five-month lowest level against the U.S. dollar as the investors traded on the high probability that the ECB won’t be raising interest rate as the economy is slowing. The euro also declined against the Japanese yen, falling to its 3-week low against this currency. Yesterday European Central Bank President Jean-Claude Trichet said that the Eurozone economy will be particularly […]

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