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December 29
2007

Forex Technical Analysis for 12/31—01/04 Week

EUR/USD trend: hold.GBP/USD trend: hold.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 1.4123 1.4245 1.4484 1.4606 1.4845 1.4967 1.5206 GBP/USD 1.9532 1.9642 1.9803 1.9913 2.0074 2.0184 2.0345 USD/JPY 109.13 110.71 111.50 113.08 113.87 115.45 116.24 EUR/JPY 160.92 162.33 163.84 165.25 […]

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December 29
2007

ZAR Gains at Fastest Pace Since October

South African national currency, rand, showed this week a highest gain against U.S. dollar since October, based on a high probability that the South African Reserve BanSouth African Reserve Ban will increase the benchmark interest rate again after the inflation continued to grow. The rand also gained significantly against Japanese yen, its major carry trade counterpart. With the hawkish intentions of the South African central bank […]

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December 28
2007

U.S. Dollar Continues Falling

EUR/USD continued to rally today after four unprecedented days of growth, making it the full bullish week for this currency pair with the every trading day session ending in favor of euro. Even holidays with their low financial trading volume couldn’t save USD from losing 2% against EUR. Chicago PMI (Chicago Business Barometer) rose to astonishing 56.6 in December after being only 52.9 in November. […]

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December 28
2007

EUR/GBP Continues Triumphal Rally

Today euro reached a new record high value against the Great Britain pound after the real estate market of the United Kingdom brought even more negative news thus increasing the chances for the Bank of England to cut the interest rate in January or February 2008. The Nationwide Building Society released a report today showing that U.K. house prices fell by 0.5% in December. This makes for the second consecutive monthly drop in a row after […]

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December 27
2007

EUR/USD Rallies Despite of Holidays

Despite the holidays period has already came to the U.S. and European markets, EUR/USD is rallying up fast for the second day in a row now. And if today there is plenty of fundamental news that can push euro up by almost 100 pips against U.S. dollar, yesterday’s bullish candle has no such reasons. Today, the employment market of U.S. showed that it is suffering because of the subprime lending […]

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December 27
2007

EUR/USD to Correct in 2008

The median U.S. dollar gain versus euro, estimated by the foreign exchange market experts for the next year, is 3.5%. The dollar is believed to gain strength in 2008 after two years of a pretty fast decline and hitting the historical minimums against several major world currencies. Surveyed by Bloomberg News, 42 currency analysts estimate […]

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December 26
2007

Kamezaki: Bank of Japan isn’t Going to Cut Rate

Hidetoshi Kamezaki member of the Policy Board of the Bank of Japan said today during briefing with the reporters, that BoJ has no plans to lower main interest rate yet, and it will have to look at whole picture of the coming economic statistics before carrying out a decision on a rate’s change. The Bank of Japan kept the interest rate at the 0.5% level after the last week meeting on December 20, but it also lowered […]

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December 26
2007

Interview with eToro

Jeff MacKenzee, the account manager of the eToro partners team agreed to answer some of my questions regarding eToro’s innovative Forex trading platform. eToro is known for bringing to the on-line Forex market trading some nontraditional types of Forex trading. eToro platform doesn’t look like any other and can be easily understood by someone who never read about Forex or charting. More information about eToro is available eToro. […]

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December 25
2007

CFD Trading — My 2007 Results

OK, CFD trading is a bit offtopic for the Forex blog, but as many Forex brokers also offer CFD trading services and it is in a lot way similar to Forex trading (high leverage, MetaTrader platform, no dividends), I thought that it would be interesting to share my results for 2007. I’ve decided to use standard demo account of $10,000 solely for CFD trading in January 11, 2007 with the condition to close […]

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December 25
2007

Dollar Falls against Yen

U.S. dollar has already entered the Christmas flat market zone and is trading on the very low volumes. During the Asian session today it managed to lose just 0.1% to Japanese yen as the latter gained from the good news from Merrill Lynch. Yesterday USD/JPY hit its monthly maximum level at 114.48 — the rate that hasn’t been seen since November 7. Today USD/JPY touched 113.92 and then retreated […]

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