Breaking News
January 26
2008

Forex Technical Analysis for 01/28—02/01 Week

EUR/USD trend: sell.GBP/USD trend: hold.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 98.3103 49.8734 98.3517 49.9148 98.3931 49.9562 98.4345 GBP/USD 1.8987 1.9162 1.9497 1.9672 2.0007 2.0182 2.0517 USD/JPY 102.27 103.62 105.18 106.53 108.09 109.44 111.00 EUR/JPY 145.84 148.98 152.84 155.98 […]

Read more
January 26
2008

Dubai is Pro Dollar Peg

The government of Dubai, U.A.E. largest emirate, is against the currency revaluation and is pro dirham’s peg to the U.S. dollar, according to Sultan Ahmed bin Sulayem, the member of the Dubai’s Board of Executive Council. Kuwait, the only GCC state that dropped their long-lasting peg to dollar so far, remains alone in its ways […]

Read more
January 26
2008

India May Cut Rate to Reduce Gap with U.S.

Palaniappan Chidambaram, the Finance Minister of India, said yesterday that the latest emergency rate cut by the Fed will probably influence the next interest rate decision by the Reserve Bank of India. The difference between the Indian and U.S. interest rates, even before the last Fed’s cut, has been adding to the demand for the […]

Read more
January 25
2008

Yuan Continues Weekly Gains

With almost every day on Forex being bullish for the Chinese yuan, today it continued its appreciation against other major currencies and particularly against the U.S. dollar, which is now in a bearish trend after the latest Fed‘s rate cut. While U.S. government is trying to save its economy (and other world economies with it), […]

Read more
January 24
2008

Euro Stronger after Business Climate Improves

Euro stood stronger against the U.S. dollar and the Japanese yen on Forex market after the Business Climate Index for January 2008 in Germany was released by the Ifo Institute for Economic Research today. EUR/USD climbed up 50 pips up from the today’s opening level, making it a third day in a row for euro […]

Read more
January 24
2008

Euro Rises as Dollar Weak on Average Releases

Today EUR/USD again showed a good level of gains, recovering from the major drop that was seen on Monday. It’s already up by almost 0.8% and is looking strong. The reason for this behavior lies in the good Eurozone fundamental data and average data from U.S. today. Initial jobless claims report for the last week showed an insignificant drop by 1,000 compared to previous 302,000 (which has been revised up from […]

Read more
January 24
2008

EUR/USD Close to 1.4 on Weak U.S. Fundamentals

EUR/USD rose today, advancing to the important psychological level at 1.4000, after the macroeconomic reports from U.S. failed to show something good for the dollar. The stock markets rose spurring confidence in the riskier assets, which is euro. EUR/USD is trading at 1.4001 now. Durable goods orders decreased by 1% in November after falling 8.4% in October (revised from 6.2%) — a 50/50 result considering a forecast drop of 3.1% for the […]

Read more
January 23
2008

Float — New Addition to MT4 Indicators

One of my site’s visitors asked me about the MetaTrader 4 indicator called “Float“. So I’ve decided to find this one and add it to the MT4 indicators list I maintain. Now everyone can download this interesting indicator and try to use it in Forex trading. It is designed to detect big trend changes and the current trend ‘exhaustion level’. As the bonus it also shows the Fibonacci levels on the main chart window […]

Read more
January 23
2008

Aussie Gains of Fed Rate Cut

The Australian dollar gained yesterday after the Federal Reserve announced an emergency rate cut from 4.25% to 3.50%. It also continued to gain today through the most of the Asian trading session, but has already went down past the daily opening price. The main idea behind the Aussie’s (AUD) growth is in the expectations by the majority of traders to see the Reserve Bank of Australia increasing the main interest rate during the February 5 meeting. […]

Read more
January 22
2008

U.S. Fed Reserve Cuts Interest Rate 0.75 in Emergency

Today, the Federal Reserve System decreased the national benchmark interest rate by 0.75% — from 4.25% down to 3.50%. This was an emergent move to stimulate the financial liquidity amidst the tumbling stock markets. It was the first such move since the aftermath of 9/11, when global markets reacted with a similarly sharp decline. But the current bearish market can be expected to be more lasting and powerful than the last […]

Read more