Breaking News
July 10
2008

Handling OrderSend Error 131 in MetaTrader 4

OrderSend Error 131 is a very popular problem that is usually encountered when testing MT4 expert advisors. What causes this error? It’s called ERR_INVALID_TRADE_VOLUME in the MT4 code. That means that your expert advisor is trying to send an order with invalid trade volume. On the absolute majority of the MT4 brokers setting some EA to open an order 0.123 lots will generate this error. But sometimes it’s generated when the EA, created for mini or micro accounts, is used on the standard account. […]

Read more
July 10
2008

Chinese Yuan at New High vs. Dollar

The Chinese yuan continued its general appreciation trend today and rose against the U.S. dollar and other major currencies as the traders believed that the central bank will continue to use stronger yuan in its anti-inflation policy. As the inflation soared to 8.1 percent annual rate in the first five months of the year, Chinese Premier Wen Jiabao has already said this month […]

Read more
July 9
2008

Australian Dollar Fell on Less Home-Loans

The Australian dollar declined today on Forex during the Asian trading session after the report on home-loans showed a massive decline in the sector and the consumer sentiment index dropped to its lowest level since 1992. The Aussie (a nickname for the Australian currency) declined against all other major currencies including the U.S. dollar, the yen and the New Zealand dollar […]

Read more
July 8
2008

Dollar Gains on Growth in Wholesale Inventories, Bad Report on Housing and Bernanke’s Speech

The EUR/USD currency pair declined today before and after the macroeconomic releases that were scheduled for today and even after the speech by the Fed’s Ben Bernanke. In his speech Bernanke said that he will prolong the emergency-loan program for the banks into 2009. This will probably mean less interest rate hikes as it would be hard for the FOMC to raise rate […]

Read more
July 8
2008

Yen Advances on Stocks Downfall

The Japanese yen rose against all other major currencies today on Forex as the stock markets declined in Asia and Europe, while the investors became concerned about more losses from the mortgage crisis worldwide. The yen also advanced significantly against its carry trade counterparts — such as Australian and New Zealand dollars. In carry trade investors borrow cheap Japanese yen to buy […]

Read more
July 7
2008

Dollar Continues Friday’s Growth

The U.S. dollar continued to grow today during the Asian trading session as the traders followed the Friday’s trend and are now expecting some hawkish commentaries from the next Ben Bernanke’s speech. Despite the weak report on the employment situation, which was released last Friday, the investors saw it as a rather positive signal and switched to buying the dollar, which lead to the new […]

Read more
July 6
2008

Forex Technical Analysis for 07/07—07/11 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5352 1.5503 1.5605 1.5756 1.5858 1.6009 1.6111 GBP/USD 1.9531 1.9662 1.9743 1.9874 1.9955 2.0086 2.0167 USD/JPY 103.59 104.29 105.54 106.24 107.49 108.19 109.44 EUR/JPY 163.11 […]

Read more
July 6
2008

Carnival of Forex Trading — July 6, 2008

Everything Finance presents Five Online Resources for Forex Beginners posted at Everything Finance. Heather Johnson presents Five Online Resources for Forex Newcomers posted at MojoStock. Neelakantha presents 8 Ways the Bush Administration Has Caused the Oil Price Boom posted at Currency Trading.net. Alvaro Fernandez presents Your Brain On Trading 101 posted at SharpBrains, saying, «A trader and neurologist introduces us to the world of the Brain […]

Read more
July 4
2008

NZD Risks Falling Low against Yen

According to the analysts from Citigroup Global Markets Inc., the New Zealand dollar may experience the lowest value against the Japanese yen in more than 10 month if it closes below the current triangle pattern support line. NZD/JPY currency pair is supported at 79.97 level, where the ascending trendline of the triangle pattern is clearly visible on the weekly chart. The descending trendline of a triangle starts from […]

Read more
July 3
2008

Early Nonfarm Payrolls Help Dollar Despite Bad Data

EUR/USD fell sharply today paring the weekly gain as the employment statistics in U.S. was released. Not only employment figures disappointed market participants, but also ISM services index declined faster than expected in June. But for some strange reason that supported the U.S. dollar and it showed the fastest daily gain since April 24. EUR/USD declined from 1.5890 to 1.5695. Nonfarm payrolls […]

Read more