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Dancing in the Streets following Dollar Housing Help
Tuesday, December 22, 2009 - 6:53pm | 149Read More...The US Dollar powered on today with The EURUSD falling to lows of 1.4220 and the USDYEN climbing to 91.80. This movement was a reaction to a very positive US existing home sales figure which surged to 7.4% against an expected 3.3% increasing the prospects of an early US interest rate rise. This...
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December Surge of the US Dollar Continues
Tuesday, December 22, 2009 - 8:42am | 230Read More...The EURUSD has commenced a fresh drop in the last couple of hours from overnight highs of 1.4330 to its present level of 1.4280(see hourly chart). This new movement appears to have been caused by the market’s positive anticipation of US growth and the Greek credit downgrade by Moody to A1. The...
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Impact Of Interest Rate News On The Forex Market
Tuesday, December 22, 2009 - 7:55am | 503Read More...Similar to the prices of any product, forex rates are also determined by demand and supply factors. They move until an equilibrium price is found. News on interest rates has a significant impact on the demand and supply of currencies in the forex market. Interest rates of countries whose currencies...
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Unacceptable Greek Bonds Could Be Euro’s Next Demon
Monday, December 21, 2009 - 7:03pm | 169Read More...The US Dollar has had another good day by forcing the EURUSD down to its present value of 1.4270 and the USDYEN to highs of 91.20. The greenback gained support from traders taking profits before the year end as well as the market perceiving that a stronger US recovery could warrant higher US...
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Some Basic Features of Forex
Monday, December 21, 2009 - 5:26pm | 519Read More...Forex, unlike the Stock Market, has no centralized exchange and all its transactions are conducted on the Interbank Market or OTC (over the counter) via phone or electronic networks. Fundamentally, there are two main trading sources that comprise the daily Forex turnover. The Foreign trade...
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ECB Says Euro is Overvalued
Monday, December 21, 2009 - 5:17pm | 194Read More...The EURUSD rose to highs of 1.4370 this morning as a result of an increase in risk appetite before crashing back by over 100 pips to 1.4265 in the last hours(see hourly chart). This latest Euro decline seems to be due to the sizeable pressure being exerted on single currency by the number of...
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The Best Time for Trading Forex
Monday, December 21, 2009 - 7:17am | 349Read More...The Best Time of the Day to Trade For trading the Euro, the ideal time is the overlap of periods (8:00 p.m. to midnight Singapore time) when both European and the US markets are open because during those four hours, two of the biggest trading centers (London & New York, respectively) would be...
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187 Billion Hiccup Upsets Euro Cheer
Sunday, December 20, 2009 - 3:20pm | 236Read More...After dropping to lows of 1.4265, the EURUSD finished the week by climbing back to 1.4330(see chart) after Germany posted an improved IFO Business Confidence index at 94.7, the highest reading since July 2008. More worrying though, was a statement released by the European Central Bank advising that...
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Calmer Night Permits Forex Rest
Friday, December 18, 2009 - 9:44am | 191Read More...Improvements in risk appetite allowed the EURUSD to rise overnight from its oversold levels to highs of 1.4400 before retreating back down to 1.4340(See Chart). The dollar gave ground to most of the other majors although it did climb against the Yen to its present value of 90.40. Earlier this...
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Financial Instruments At Your Disposal In Forex Market
Friday, December 18, 2009 - 9:42am | 475Read More...Foreign exchange financial instruments are neither debt based nor equity based. They can be categorized as: Spot – A spot transaction represents a “direct exchange” between currencies of a pair. It is a transaction in which the delivery is made in two trading days, with the exception of...
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Oversold Euro Due for Correction
Thursday, December 17, 2009 - 7:51pm | 124Read More...The Euro has weakened further today with the EURUSD dropping to lows of 1.4305. The dollar, in fact, benefited from safe haven flows, in general, by rising against most of the other major currencies. For instance, the USDYEN achieved highs of 90.35 before retracting to its present value of 89.75....
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Why Trade Forex?
Thursday, December 17, 2009 - 9:39am | 598Read More...The main reasons for embarking in a new business adventure are to improve your earning power and enhance your lifestyle. So, is trading Forex Market a good choice? Yes, it is because the opportunities of achieving good profits are very real. However, caution is advised as Forex is a gigantic entity...
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Some Brave Soul Needs to Tell Us the Truth
Thursday, December 17, 2009 - 9:36am | 266Read More...The dollar again surged against the Euro overnight with the EURUSD hitting lows of 1.4325 before limping back to its present value of 1.4355( See Chart). The EURUSD has now fallen about 850 pips in 2 weeks to lows not seen since the first week in September. The pressure on the Euro is increasing...
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Forex On Thursday: Bearish Tone Continues For Euro
Thursday, December 17, 2009 - 4:45am | 127Read More...Pressure seems set to continue on the euro on Thursday, after the currency broke below the 1.4480 level in Asia. CMC Markets currency analyst Michael Hewson now sees the euro targeting its 200-day moving average at 1.4175, as well as the 38.2% Fibonacci retracement level at 1.4120. The move towards...
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EURO Holds its Own After Fed Decision
Wednesday, December 16, 2009 - 7:25pm | 98Read More...After the Fed unanimously voted to keep its interest rate near zero and reaffirmed that they will keep it low for an extended period, the EURUSD plunged to lows of 1.4505 before bouncing back to its present value of 1.4530. Also during the day, Greece’s credit rating was cut again with threats of...
