Breaking News
August 1
2008

Dollar Strengthens Despite Continued Decline in Employment

EUR/USD declined today from 1.5596 to 1.5560. Although the early decline was strong, the U.S. employment report disappointed many traders who bought dollars and it corrected almost a half of its earlier gains. But even after the report dollar is still trading higher against euro than it closed yesterday. Nonfarm payrolls declined by 51,000 in July — at the same rate as in May (revised up from 62,000 decline). The […]

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August 1
2008

Stocks Decline Spurs Yen Gains on Forex

The Japanese yen rose to its two-week high level against the euro and one-week against the Great Britain pound today as the stock markets tumbled yesterday in U.S. and continued to fall in Asia today. Yen also continued to grow against its popular carry trade counterparts — New Zealand and Australian dollars as the traders believed that the central banks in those countries will […]

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July 31
2008

ZAR Trades Near 6-Month High vs. Dollar

The rand of South Africa traded near its 6-month highest value against the U.S. dollar today before and after the report that showed acceleration in the producer price index last month. The producer-inflation report that was released today at 9:30 GMT today in Johannesburg revealed that June inflation accelerated to 16.8 percent year-to-year growth compared to 16.4 percent annual rate in May. Monthly advance in June […]

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July 31
2008

Dollar Slides on Disappointing GDP Data

EUR/USD soared up today immediately after the report on advance GDP figures for the second quarter of 2008 came out in U.S. It disappointed the investors and is currently pressing on the greenback. Employment data also came out much worse than the majority of the traders expected today. EUR/USD is currently trading near 1.5633 level after reaching as high as 1.5700 in early trading after GDP report. Advance GDP growth […]

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July 30
2008

Dollar Continues to Beat Euro on Forex

EUR/USD continued to fall today after a very sharp decline yesterday. Many traders got surprised by the ADP employment report, which helped to strengthen the dollar, but the greenback gained even before the report release. This is the second day this week when EUR/USD falls. Monday gave some uprise to this currency pair, but it’s nothing compared to the current decline. EUR/USD is currently […]

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July 30
2008

Australian Dollar Falls on Housing Decline

The Australian dollar fell today to the the one-month lowest level against the U.S. dollar after the report of unexpected drop in housing approvals in June. The Aussie repeats the yesterday’s decline of the New Zealand dollar, when it has fallen sharply after the housing approvals there dropped to 20-year low. Unlike New Zealand, the Australian central bank didn’t cut interest rates this year […]

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July 29
2008

Building Approvals Slump in New Zealand

The New Zealand dollar fell significantly against the other currencies today after the release of the report that showed that the home-building approvals in the country declined to the lowest level in almost 22 years in June. According to a report released yesterday at 22:45 GMT, the approvals fell 20 percent compared to May to 1,337 on a seasonally adjusted basis. That’s the lowest reading for this indicator since October 1986. […]

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July 28
2008

Dollar Falls vs. Euro, Yen on Recession Fears

As the investors feared that the U.S. financial institutions will continue to lose on the credit crunch and the oil prices rose, the U.S. dollar declined from its local maximums against euro and yen. The  U. S. currency fell for a second day against the euro and for the first day against the Japanese yen after the Federal Reserve Bank […]

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July 27
2008

Trend vs. No Trend by Brian Dolan

I uploaded a new ebook to the Advanced Trading Books part of the site today. It’s actually a rather small article than a real book — Trend vs. No Trend by Brian Dolan. It was originally published in TRADERS’ Magazine in 2005. It describes the advanced methods of the trend detection that would work in the undetermined trend conditions. Brian describes the trend/no trend paradox that occurs often with the standard methods of trend […]

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July 26
2008

Forex Technical Analysis for 07/28—08/01 Week

EUR/USD trend: sell. GBP/USD trend: buy. USD/JPY trend: buy. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5261 1.5444 1.5577 1.5760 1.5893 1.6076 1.6209 GBP/USD 1.9538 1.9677 1.9797 1.9936 2.0056 2.0195 2.0315 USD/JPY 104.66 105.35 106.59 107.28 108.52 109.21 110.45 EUR/JPY 165.48 […]

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