Breaking News
February 16
2008

Forex Technical Analysis for 02/18—02/22 Week

EUR/USD trend: hold. GBP/USD trend: sell. USD/JPY trend: hold. EUR/JPY trend: hold. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4310 1.4396 1.4538 1.4624 1.4766 1.4852 1.4994 GBP/USD 1.9093 1.9247 1.9429 1.9583 1.9765 1.9919 2.0101 USD/JPY 104.22 105.26 106.52 107.56 108.82 109.86 111.12 EUR/JPY 150.84 […]

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February 15
2008

Xforex — Web Based Broker without Demo (Actually It Has Demo Accounts)

Xforex is a Forex broker that I added to the broker lists on my site today. It’s not a new Forex broker at all — it operates on-line since 2003. It has only a web-based trading platform which is optimized for IE, but it also works with Firefox too (though there may be some glitches). Trading platform itself is rather poor (in terms of indicators and automation), but it loads fast. Special Muslim accounts are available for appropriate customers. Unfortunately […]

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February 15
2008

Poor U.S. Macroeconomics Push Dollar Down

This week ends far worse for dollar bulls than they may have expected. Only Wednesday was an uptrend day for the U.S. dollar, but it didn’t gain a lot that day. Friday brought in the break through the 1.4700 resistance level on EUR/USD. Some disappointing data on the net foreign purchases and the manufacturing survey were the most important causes of today’s dollar’s decline. Export and […]

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February 15
2008

USD/CNY at Record Low Level

The Chinese yuan continued its triumph this week and was set at a new record high value against the U.S. dollar today at the Shanghai Foreign Currency Trade session. It will be 10th straight gaining week for the yuan if it closes at the 7.179 yuan per dollar. It is significantly lower rate than yesterday’s 7.1904. Since European and American officials started to press on Chinese government to appreciate yuan […]

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February 14
2008

EUR/USD Grows on Trade Balance News

EUR/USD rose from 1.4575 to 1.4635 today after the news from the U. S. Department of Labor and the U. S. Census Bureau arrived. Despite them being better than expected, they failed to stop dollar or even stock markets from declining today. Initial jobless claims for the last week went down from 357,000 to 348,000 — slightly better than it was expected by the markets (350,000). Trade balance deficit in U.S. […]

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February 14
2008

GBP Continues Rising against Other Majors

Great Britain pound continued its almost a week long rally against the currencies of Eurozone, U.S. and Japan, as the traders believe that the Bank of England will turn its head to inflation rather than the lack of the financial liquidity. There is now a three days of consequential growth on the GBP/JPY Forex pair, but it still is quite moderate result for this trading instrument. Withing these three days GBP/JPY easily went up from 208.66 to 213.42. […]

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February 13
2008

Trade Idea: Buy Australian Dollar with Euro

According to the new research note by Richard Grace from the Commonwealth Bank of Australia, it would be better to buy Australian dollar with euro in 2008 to earn from the interest rates difference. The EUR/AUD currency pair is proposed to substitute the AUD/JPY as the next carry trade investment opportunity, because along with the wide positive interest rates difference it’s more stable than the yen based currency […]

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February 13
2008

4 Ways in Which the Weather can Affect the Forex Markets (by Heather Johnson)

Currency trading can be approached using a number of different methods. Many mathematical purists will tell you that technical analysis is the only way to go, swearing that they can see the future by poring over chart after chart after chart. Others glance at the trends, ruminate for a minute or two, then go with a hunch and ride a pair wherever it wants to go. Some forex traders, however, […]

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February 13
2008

Dollar Appreciates Today on Good Fundamentals

Dollar was almost unchanged versus euro today before some important to fundamental analysis indicators were released in U.S. EUR/USD opened at 1.4580 and made some moderate movements in both directions, but has been near the opening level before the statistics came out. Good data had an improving effect on dollar. It is now trading more than 30 pips below the opening price. Advance figures for the retails […]

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February 12
2008

Jean-Pierre Jouyet: Euro is Ready, U.S. is not

Jean-Pierre Jouyet said that during the last G7 meeting (which was on February 10th in Tokyo), that there weren’t any signals from the U.S. representatives, that the States are going to try correcting the current unbalanced situation in Forex. It looks like the French officials are the ones that are most concerned with the current […]

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