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July 25
2008

Trade Assistant — Multi-Timeframe Forex Indicator

Trade Assistant is the second multi-timeframe indicator after TRO MultiPar, which I’ve posted in April. I’ve found this indicator on the forex-tsd.com forums; it was originally created and posted there by Tom Balfe. As with other multi-timeframe indicators it looks very nice and informative with the table output layout of the buy/sell signals. It can be attached to any timeframe chart and it works well with all currency pairs. […]

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July 25
2008

Dollar Gains on Better Orders, Housing, Consumer Confidence

The  U. S. dollar rose against the euro after the important statistics came out in U.S. today. Although the daily gain is almost absent, EUR/USD went significantly down from its daily maximum at 1.5753 after the news releases and is now trading near 1.5683 level. Durable goods orders rose unexpectedly in June — they gained 0.6% after 0% change in May and negative (-0.3%) forecast for […]

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July 25
2008

Yen Gains versus Euro on Stocks Decline

The Japanese yen gained against the euro and other currencies on the Forex market today, making this week the first bullish one since May, as the stock markets declined world-wide spurring sell-off on the carry trade market. Stock markets declined yesterday in the United States and Europe and continued to fall in Asia today. Such financial environment is considered to be very unattractive for […]

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July 24
2008

EUR/USD Gains after Decline in Jobs, Home Sales

EUR/USD gained a little today, correcting from the previous daily drawdowns, after the jobless claims and existing home sales statistics was released today in the United States. Dollar was standing at a strong upward position on the Forex market for the last today, but today it reacted sharply on the fundamental data and after a high intraday volatility lost somewhat to euro. Initial jobless claims soared from 372k to 406k last week after consensus […]

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July 24
2008

NZD at Lowest since January on Rate Cut

The New Zealand dollar fell to its 6-month low level against the U.S. dollar after the Reserve Bank of New Zealand cut the interest rate by a quarter percent point in its first rate reduction in the last five years. Today New Zealand currency (also known as Kiwi) continued its downward trend started a week ago when traders began to decrease their positions in NZD […]

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July 23
2008

Reversing Forex Strategies and Expert Advisors

Many traders encountered strategies and expert advisors that produce highly stable loss as the result of their trading. The majority of those traders at least once considered a possibility of reversing the strategy/EA by switching the buy and sell orders, hoping to reverse the strategy’s results. In almost every case this tactic would fail and the results of the reversed expert advisor would be no better than before. […]

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July 21
2008

Pound Drops on Blanchflower’s Comment

The Great Britain pound fell today against its major counterparts after the private report on July house prices decline and the commentary made by the Bank of England policy maker. There were two significant down-pushing factors for the pound today. First was the report by the Rightmove Plc, Britain’s most popular website on real estate, which showed a serious decline in the U.K. […]

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July 19
2008

Forex Technical Analysis for 07/21—07/25 Week

EUR/USD trend: sell. GBP/USD trend: sell. 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 1.5454 1.5609 1.5728 1.5883 1.6002 1.6157 1.6276 GBP/USD 1.9469 1.9641 1.9813 1.9985 2.0157 2.0329 2.0501 USD/JPY 101.45 102.60 104.78 105.93 108.11 109.26 111.44 EUR/JPY 162.31 […]

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July 19
2008

Chilean Peso is the Worst Performing Currency

The Chilean peso became the worst performing currency in the last three months as the inflation soared and the central bank kept supporting exporters. The peso dropped 11.8 percent against the U.S. dollar during the last three months as the government has been buying $50 million each day to support the national exporting companies keeping output growth up. Meanwhile inflation accelerated to 9.4 percent — the fastest rate in 14 years putting such practice to question. Going up from the worst position […]

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July 18
2008

Rand Goes for a Fifth Weekly Gain

The South African currency headed for its fifth straight weekly growth against the U.S. dollar today as the traders speculated on the higher demand for the local currency from the carry trade participants. The rand went up to its highest level against the U.S. currency during the last 6 weeks yesterday as the problems in the U.S. mortgage market proved to be more serious […]

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