South Korea´s won down

The won closed with an almost 4 percent dropped against the dollar on Friday, after data showed an economical growth 4-year low in the third quarter, feeding fears of an economical downturn in economics for the 2009 year.
 
Won rapidly cut much of its early losses and the foreign authorities were spotted selling dollars, to support [...]

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Yen´s going up, Euro goes down

Facing a tremendous general recession fear, the forex market opened to a yen rising against the dollar and euro, as more signs of economical weakness in the U.S. hit the FX market.
Despite the fact that governments all over the world have been injecting massive amounts of money into troubled banks, looking to reduce the [...]

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Plan display: How will it work?

U.S. Government come out with a plan to inject %250 billion into struggling banks and guarantee a beat back on the financial crisis that has economy under threat.
Following are details of the U.S. Treasury Department’s recapitalization plan and the Federal Deposit Insurance Corp.’s decision to guarantee 100 percent of banks’ unsecured debt and non-interest [...]

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Thursday showed market relief-FX

Wall Street- Forex markets breathe some relief
After six days of sharp declines, the European markets opened higher on Thursday, just one day after the world central banks joined in an effort to cut borrowing costs. Forex trading felt some ease.
Although the instability can still be sense in the forex markets, Traders have a clearer [...]

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Dollar remains strong

 
We´ve seen a lot of movement in the market this week. The NIKEI dropped almost 1000 points last night and DOWN JONES still trades down below 10.000. The overall feeling of the market remains negative.
 
Bernanke spoke in Washington late last night and clarified to investors the economy´s suffered greater damage than expected, so the bank [...]

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Is the dollar going to remain strong?

 
The week started off with all markets in red and the Down Jones breaking the 10000 level for the first time since October 2004.
 
What was observed yesterday went beyond reason and normal behavior, and many traders around the globe were left shaken and confused by the markets actions.  This surprised move was due to a [...]

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Euro going down against US dollar

This week starts with a general weakness on the currency trading, especially against the dollar, after the pair closed at 1.3780 on Friday and opened Sunday night at 1.3630. The euro felt its lose in Asia as well, and continues to trade on the down side breaking the support level of 1.3580 and breaking a [...]

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EUR/USD and Gold: Elliot Wave

Euro hit all the targets on its way down yesterday, and even went lower than the previous low of 1.38270. This was most likely commodity driven since there is Oil threaten in the area of $90 per barrel again. News seem really stable for today. No special change on UDS/JPY for yesterday so the buy [...]

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Senate voted yes; House´s turn´s up

By Mia Pierson
Out of 99 Senate members that voted, 74 gave a positive vote and 25 against. The project is expected to be voted on the House by Friday. Both presidential candidates voted in favor of the $700 billion bailout plan.
All eyes are on the House now, which will begin session on Thursday, and [...]

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Trading Forex

In the middle of a global credit crisis, and after the negative vote provided yesterday by the Congress on the rescue plan, the dollar managed to rise against a bucket of six currencies on Wednesday as general investors awaited for the U.S Senate to vote for the new salvation plan.
After the dollar fell for a [...]

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