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June 5
2007

FXcast — e-gold Forex Broker with MetaTrader 4 Platform

Another e-gold Forex broker with a low minimum account ($1) and e-gold deposit option added to Forex brokers list. FXcast — a quite new broker in the on-line market. It also supports MetaTrader platform (for accounts starting from $100) and a very high margin leverage (up to 1:400). One of the major drawbacks of this broker is that it is completely unregulated. But still — good choice for the new Forex traders […]

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June 5
2007

EUR/USD Surprising Peak

Forex market today brought another surprise to the traders as the USD unexpectedly fell to 3 weeks low on mixed data from Eurozone. While some major macroeconomic indicators failed to show any good data for the Eurozone, EUR/USD reached 1.3553. Although it’s rolled back pretty fast, EUR/USD is still traded above 1.3500 (which was a strong resistance level and now is a support level). ISM Services index […]

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June 4
2007

Dukascopy Forex Broker

Welcome a new ECN Forex broker aboard — Dukascopy. It is one of the most notable Forex broker, but it is generally unknown to common retail Forex traders because of its extremely high minimum account — $50,000. One of the greatest advantages Dukascopy clients get for such high requirements is the ability to trade in their Swiss FX Marketpalce — a ECN of brokers, banks and large retail traders with high liquidity […]

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June 4
2007

Tough Times for USD

Today were not the best times for USD bulls as the Factory Orders indicator increased only by 0.3% (against 0.6% expected). Low growth of manufacturing orders means a slower growth of overall economy, while U.S. economy is already slow as a turtle with 2007 GDP estimated at around 1%. Such bad macroeconomic data will push EUR/USD up, even if technical analysis will cry for a correction. On the other side, […]

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June 2
2007

EUR/USD Technical Analysis for 6/4—6/8 Week

Floor Pivot Points: 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.3260 1.3326 1.3387 1.3453 1.3514 1.3580 1.3641 Woodie’s Pivot Points: 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.3325 1.3385 1.3452 1.3512 1.3579 Camarilla Pivot Points: 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res […]

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June 1
2007

EUR/USD Bearish After Fundamental News

EUR/USD broke through 1.3400 today on Forex market — showing a new 7-week low. Good macroeconomic data from U.S. was the reason for this break-through. Nonfarm payrolls — a major employment indicator of the U.S. economy — increased by 157,000 in May (22 thousands more than expected), while ISM Index — reported an increase by 0.3% up to 55.0% (against 54.0% expected). ISM Index means a lot in the U.S. economy because it describes […]

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May 31
2007

FOMC Minutes to Support Dollar?

FOMC (Federal Open Market Committee) released its May 9 meeting Minutes on Wednesday, May 30. As it has been known since May 9 the conclusion of the meeting states that the inflation remains the main concern for the FOMC, while in future FOMC will outlook both inflation and economic growth. Statements presented in the released Minutes generally support this conclusion giving some more power for the USD bulls. This could […]

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May 31
2007

2 New E-Books about Forex Trader’s Psychology

Now you can download two more excellent Forex e-books about a role of the traders’ psychology in their success or failure (which is without a doubt a more often case). These e-books are not very big or complicated, just an hour of interesting and useful Forex reading: 25 Rules Of Forex Trading Discipline — as the title suggest, a set of rules that are necessary to be followed to be a successful Forex trader. Stop […]

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May 29
2007

EUR/USD Rally and Rollback after Consumer Confidence

Euro showed a really fast and heart-breaking (for some traders at least) rally of 100 pips today before the major daily fundamental event — May Consumer Confidence Index. After hitting its resistance level at 1.3517 EUR/USD calmed down a bit rolling back to 1.3500 level. May Consumer Confidence Index which came out to be 108.0 against 104.5 expected ended Euro rally moving EUR/USD to 1.3475 level. Many […]

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May 28
2007

Forex Trading and Islam

The topic of Forex trading prohibition in Islam is vast and controversial. Many points of view exist on different aspects of on-line Forex trading including — spot trading, futures and options trading, margin trading, overnight interest, etc. The majority of the Islamic jurists agrees that Forex trading can comply with Sharia only if it is spot trading (while futures and options are considered to earn Riba) and if it doesn’t […]

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