Breaking News
April 16
2008

Bearish U.S. Fundamentals Help Euro Bulls

U.S. fundamental statistics, that were released today in abundance, appeared to be worse than the market analysts expected. It helped the EUR/USD currency pair to reach its new absolute maximum value at 1.5968 and kept dollar bearish also against the other major currencies. CPI (Consumer Price Index) rose 0.3% in March — at the same pace as expected. In February this indicator was at 0%. Housing starts and […]

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April 16
2008

Italy, France Unite against Strong Euro

Italy’s soon-to-be newly elected prime minister, Silvio Berlusconi, pledged to ally with the president of France, Nicolas Sarkozy, in his strife to persuade ECB to weaken the united Europe’s currency by the means of the intervention. Concerned with the weakness of the Italy’s exporters, Berlusconi is aiming to eliminate the prime reason for this — the dollar-euro rate imbalance: A very strong euro is hurting Italy’s economy. I will discuss intervening with the […]

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April 15
2008

Dollar Grows Somewhat on Improved Manufacturing Outlook

The EUR/USD currency pair post some small drop today on Forex as the fundamental situation in U.S. economy looked better in April for the manufacturing sector. All of the reports that were released today in U.S. showed a positive dynamics for the dollar, helping it to go up against euro, pound and yen. EUR/USD is currently trading at 1.5784. Producer Price Index in March grew at an unexpected pace — 1.1% […]

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April 15
2008

EUR/GBP Reaches New Absolute Maximum

Great Britain pound fell down to a new absolute minimum level against the euro today as the fresh economic data from U.K. signaled that the output growth will probably slow down significantly. The survey by the Royal Institution of Chartered Surveyors showed that more than at any time since 1978 (the year when they started to collect this data) of its members are reporting […]

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April 14
2008

Dollar Gets a Blow after Good Start

After a weird 100 pips gap at today’s Forex trading opening on EUR/USD pair, the U.S. dollar went sharply down. It’s now forcing to stay at as little as 50 pips below the absolute maximum as the Forex traders fail to conclude a definite opinion on how to react on the fundamental statistics that came out today in U.S. Advance retail sales in March rose 0.2% compared to 0.1% forecast and 0.6% fall in February. Business […]

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April 14
2008

Dollar Retreats from Opening Gap Gain

The U.S. dollar has retreated from its impressive gain on this week opening on the Forex market and is now trading inside its usual recent daily bearish trend against the euro and the Japanese yen. The G7 meeting’s officials noted the global situation with currency rates volatility and the necessity of the actions against the fast depreciation of some currencies and the […]

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April 13
2008

EUR/USD Trade Idea for the Next Week

The current situation on the EUR/USD daily chart seems like a good preparation for the long position. If you look at the picture below you’ll see three highs almost at the same level — 1.5902 on March 17, 1.5896 on March 31 and 1.5913 on April 10. The corresponding lows of these highs conclude an uptrend. Altogether they form an ascending triangle, which is the known continuation pattern: Somewhere next week I expect the upper horizontal […]

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April 12
2008

Forex Technical Analysis for 04/14—04/18 Week

EUR/USD trend: buy. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5368 1.5498 1.5652 1.5782 1.5936 1.6066 1.6220 GBP/USD 1.9274 1.9462 1.9575 1.9763 1.9876 2.0064 2.0177 USD/JPY 96.91 98.46 99.74 101.29 102.57 104.12 105.40 EUR/JPY 155.48 […]

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April 12
2008

Bugfix and New Currency Pairs in Pip Value and Position Size Calculators

I’ve fixed some javascript related bugs in both pip value and position size calculators. Those bugs prevented newer versions of non-IE browser from actually calculating any results. I’ve also added new currencies and currency pairs to those calculators. Now they can handle 65 currency pairs. Here is the list of the currency pairs that were added today: AUD/DKK (Australian Dollar — Danish Krone) AUD/PLN […]

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April 12
2008

Dollar to Stop Falling after G7 Signals?

The U.S. dollar may probably slow down in its currently strong bearish trend against the other world currencies after the G7 meeting participants expressed their concern about the Forex market fluctuations. The housing and financial crisis in U.S., which is observed since Summer 2007, made traders believe that the world’s largest economy is heading into recession. The dollar cumulative index (DXY, […]

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