Breaking News
January 22
2008

LiteForex Adds e-Bullion and Liberty Reserve

A good news from the LiteForex broker. Yesterday they announced that they are adding e-Bullion and Liberty Reserve on-line payment systems as the options to deposit funds into the Forex trading accounts. Although these systems are less popular than WebMoney or e-gold, which are already supported by LiteForex broker, it is a good addition for a Forex broker as it adds comfort to the traders’ necessary routines of accounting. Unfortunately it […]

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January 21
2008

Mathematics of Money Management Forex E-Book

Now you can freely download another money management in trading related Forex book from my site — Mathematics of Money Management: Risk Analysis Techniques for Traders. It is written by Ralph Vince, the author of many books about the use of math in trading. Although this e-book is quite heavy on mathematics (calculus and statistics) it’s intended for the general readers — both for those that are fluent in numbers and those […]

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January 21
2008

Japanese Yen Gains Sharply against Euro, Pound

Japanese yen is gaining against all its rivals today, as the stocks fall down and the high-risk currencies start to meet their demise. While traditional carry trade counterparts of yen — Australian and New Zealand dollars, are often unstable during such times, the less risky euro and Great Britain pound are also losing now. The euro has already reached its lowest minimum since 22nd of August, 2007, […]

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January 20
2008

ECB Should Prefer Inflation Fighting

The European Central Bank council member and the governor of the Bank of Italy, Mario Draghi said yesterday that the monetary policy should be tightened in case the inflation in Eurozone will start to cross the target borders. While many investors debate whether ECB will prefer fighting the economy growth slowdown or the consumer prices […]

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January 19
2008

South Korean Won Declined This Week

Almost all Asian currencies, especially high-yielding ones, took a massive hit this week, with the highest drops being near the end of the week. South Korean won has posted the largest weekly decline in almost two months. On Thursday South Korea’s won reached its minimum value against the U.S. dollar since August 2007 and then […]

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January 19
2008

Forex Technical Analysis for 01/21—01/25 Week

EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: sell.EUR/JPY trend: sell. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4167 1.4378 1.4499 1.4710 1.4831 1.5042 1.5163 GBP/USD 1.9169 1.9340 1.9447 1.9618 1.9725 1.9896 2.0003 USD/JPY 102.49 104.20 105.53 107.24 108.57 110.28 111.61 EUR/JPY 148.20 151.94 154.07 157.81 […]

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January 18
2008

Chilean Peso Gains on Interest Rate Increases Speculation

Chilean peso gained yesterday against other currencies, notably against the U.S. dollar, after the Central Bank of Chile President, José de Gregorio, commented that the bank will have to increase rates again on the next meeting. Now there are two expected events that are supporting Chilean peso on Forex. First one is the expected rate […]

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January 18
2008

EUR/USD Down for 4th Day

Euro is dropping down against the U.S. dollar for the fourth day in a row now. Declining stock markets force traders to cash out into dollars, increasing the demand for them. Today’s fall is minimal (less than 20 pips), but still keeps euro from rising and dominating over the dollar as it has been doing in 2007. Leading indicators in U.S. released by the Conference Board showed a decrease in December by 0.2% […]

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January 17
2008

Dollar Still Weak Against Yen

The U.S. dollar, even after a recovery from the two and a half year bottom against the Japanese yen, is remaining weak against this Asian currency as the investors worry about the current state of the U.S. economy. Currently the dollar is trading at 106.74 which is above the yesterday’s minimum of 105.92, but below the today’s open price of 107.62 on USD/JPY. Jun Kitazawa, head of the foreign exchange division of Brown Brothers Harriman Investment […]

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January 17
2008

Euro Tries to Regain Yesterday Loss

Euro tries to reclaim the pips it lost yesterday during one of the strongest falls of the recent days. Yesterday EUR/USD lost 152 pips or more than 1% of its rate. Today only a small recovering is seen with no more than 30 pips trailback, which can be easily accounted to the technical correction. Overall picture of the EUR/USD daily chart more and more reassembles the “head and shoulders” pattern. Some […]

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