Breaking News
April 30
2008

EUR/USD Mostly Unchanged by Other Macroeconomic Releases before Fed Rate Decision

EUR/USD remains mostly unchanged today as the markets await the Federal Reserve decision on the interest rate. Even some important indicators that were released in U.S. today failed to move the currency pair significantly on Forex. Advance data for the first quarter GDP in U.S. were releasd today, showing 0.6% growth (the same as in Q4 2007), above the estimate of 0.5%. Chicago PMI index […]

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April 30
2008

Dollar Steady ahead of FOMC Meeting

The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today. According to the interest rate futures, Investors believe that the rate in U.S. will be lowered today by 25 basis points (from 2.25% to 2.00%), but the statement won’t be dovish […]

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April 29
2008

Risk Management in Gambling and Forex

There are many similarities between the money management strategies in the gambling and the Forex trading. In fact there are too little differences between money management in any risk-based money making. Of course, that fact doesn’t mean that Forex market is a casino and traders are gamblers, there are many other properties that define Forex from the gambling industry but that’s another story. I’ve uploaded a new ebook to the site today — Money […]

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April 28
2008

Pound Rises against Euro, Dollar

The Great Britain pound continued its growth against the euro and the U.S. dollar today, even after the housing prices fell again and the chances fore more interest rate cuts by the Bank of England went up. After some bearish trend movements during the Asian Forex trading session, the pound gained to above the Friday’s close rate against the other world currencies. Although, the bond rates grew up in the United Kingdom, the economic situation is now […]

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April 26
2008

Forex Technical Analysis for 04/28—05/02 Week

EUR/USD trend: sell. GBP/USD trend: hold. 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 1.4986 1.5271 1.5450 1.5735 1.5914 1.6199 1.6378 GBP/USD 1.9331 1.9504 1.9679 1.9852 2.0027 2.0200 2.0375 USD/JPY 101.00 101.84 103.13 103.97 105.26 106.10 107.39 EUR/JPY 159.93 […]

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April 26
2008

Singapore Dollar Drops Large This Week

The Singapore currency had its worst week in a year on the Forex market, as it lost along with the other Asian currencies to the U.S. dollar, because the investors began to expect that the U.S. interest rate will unchanged rather than lowered next time. The  U. S. dollar rose from its record low bottom against the euro this week and appreciated significantly […]

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April 25
2008

Broker Rating System Upgrade

I’ve upgraded the Forex broker rating system to make it more cheat-proof and to make it show more relevant rating score for each broker. With previous system I had to deal with hundreds of fraudulent votes (both in favor of some brokers and to lower some brokers’ rating). Current system should be much better than the old one and I hope the rating will be more accurate now. Unfortunately, […]

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April 25
2008

Dollar Gains for 3rd Day on Fed Outlook

The U.S. dollar gained against the euro today on Forex market for a third day in a row, as the yesterday’s U.S. fundamental data reassured traders that the Federal Reserve will keep the interest rate unchanged on its next week meeting. Dollar was also supported by its strong oversold position on the currency market. After reaching 1.6018 euro/dollar entered the the range where its rate […]

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April 24
2008

EUR/USD Falls Lowest since April 14

EUR/USD slid to its minimum value since April 14 today on Forex — 1.5675, as the investors started to consider the U.S. currency to be oversold and the further interest rate cuts by the Federal Reserve — unlikely. Fundamental data that was released today in U.S. was mostly disappointing, but that didn’t help the euro to grow against the dollar. Initial jobless claims dropped 33k last week — from […]

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April 24
2008

Indian Rupee Falls on Demand for Dollar

The Indian rupee declined today to its monthly minimum level on the Forex market as the domestic companies had to purchase more U.S. dollars to pay for the imports, including oil. It was the second bearish day for the rupee, which is under pressure from the widening current account deficit (which is a great problem for another Asian currency — South Korean won). Imported goods […]

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