Breaking News
August 7
2008

Euro Posted a Huge Decline against Dollar

EUR/USD declined today to its new minimum level since June 13 after a bearish commentaries by Jean-Claude Trichet that followed ECB’s rate decision. Even bad reports on U.S. employment and housing couldn’t save the currency pair from falling. It is now trading near 1.5326 level. Initial jobless claims rose to 455,000 last week, up from 448,000 a week before. Analysts estimated a decline to 420,000 claims for the last week. Pending home sales […]

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August 7
2008

Yuan Falls as China to Control Money Inflow

The Chinese yuan fell against the U.S. dollar for the third day this week as the government tightened control over the illegal capital inflow into the country’s financial system. The demand for the local currency may decline as the new rules give market regulators a greater authority in the payments investigations. People’s Bank of China kept yuan almost unchanged to the U.S. dollar […]

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August 6
2008

Statistical Forex Systems

Statistical Forex system is a system that relies on the information which was previously collected from the market and the amount of this information is proportional to the period of time, on which the market is analyzed. Common input parameters optimized over the period of time aren’t considered as the statistical information, thus not every optimized system or expert advisor is statistical. Statistics is collected into a special file in a format that […]

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August 6
2008

Euro Grows, ECB May Signal Inflation Risk

The euro rose today against the U.S. dollar and other major currencies on Forex after a quite deep decline that was observed yesterday, as the traders expect ECB President Jean-Claude Trichet to signal uprising inflation risks on the next meeting of the Governing Council. According to the Bloomberg survey of the currency analysts European Central Bank will keep the key interest rate at 4.25 percent […]

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August 5
2008

Dollar Stronger Before FOMC Decision, Gave Up Somewhat After

EUR/USD had a very big drop today as the stock markets grew in U.S. and the Forex traders expected positive decision from the FOMC monetary policy. ISM report also supported the greenback today with an increase in its index, but the main news was the interest rate decision and (more important) the statement released by the Federal Reserve. After the release […]

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August 5
2008

Aussie Falls on RBA Rate Cut Signals

The Australian dollar declined to its lowest value against the U.S. dollar since July today after the central bank statement said that lower inflation may allow interest rate cuts in the future. The Australian currency (which is also known by its nickname Aussie) fell for a sixth day in a row against its U.S. counterpart as the Reserve Bank of Australia released its statement […]

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August 4
2008

CAD Loses on U.S. Economy Slowdown

The Canadian dollar continued its strong bearish trend today against the U.S. dollar as the currency traders began to realize that the commodity prices won’t hold up if the world’s biggest economy will continue to cool down. Market participants predict 17 percent drop for the Canadian dollar (also called loonie) against its U.S. counterpart by the end of 2009. In 2007 the USD/CAD declined 17 percent, breaking the […]

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August 4
2008

EUR/USD Trading Mostly Sideways Before FOMC Meeting Day

EUR/USD is little changed today even as some important statistical indicators are released in U.S., because traders are waiting for the FOMC interest rate policy statement that is scheduled for tomorrow. The currency pair opened at 1.5574 and is currently trading near 1.5603. Personal income rose 0.1% in June after 1.8% (revised down from 1.9%) growth in May. The consensus forecast for June was […]

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August 3
2008

A Set of New Forex Articles

Three new articles from the author that is well-presented on my site were uploaded today. Marquez Comelab writes mostly about obscure topics related to the Forex trading. I can recommend the following articles for both experienced and beginning Forex traders: The Power of Small Consistent Returns — Explains the difference between earning small and large consistent returns over the long periods of time. […]

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August 2
2008

Forex Technical Analysis for 08/04—08/08 Week

EUR/USD trend: sell. GBP/USD trend: hold. USD/JPY trend: hold. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5210 1.5363 1.5463 1.5616 1.5716 1.5869 1.5969 GBP/USD 1.9422 1.9575 1.9663 1.9816 1.9904 2.0057 2.0145 USD/JPY 106.09 106.69 107.18 107.78 108.27 108.87 109.36 EUR/JPY 164.05 […]

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