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Archive for August, 2009

Crude Oil takes a nose dive as traders took profit.

Later afternoon trading saw the price of Crude Oil take a nose dive as traders took profit. The price of Oil stalled at the $75 resistance level and fell significantly following the failed breach. Today traders will be tracking the release of the U.S. Crude Oil Inventories data along with the New Home Sales numbers for today's market direction. [caption id="attachment_1933" align="alignright" width="293" caption="Crude Oil Dives"][/caption] Yesterday, the Dollar saw mixed results against its major currency rivals. Against the EUR, the Dollar... ( read more )

August 26, 2009 - Daily Forex Tips – August 26th 2009

Will Crude Oil Drop Below $70 a Barrel? During yesterday's trading, Crude Oil dropped to $71.20 a barrel. This was largely due to the recovering Dollar. The Dollar recovery took place after a better-than-expected Consumer Confidence in the U.S. which showed that Americans consumers are regaining faith that their financial condition is likely to improve during the next few months. If the Dollar will continue to strengthen today, it could turn Crude Oil to drop below $70 a barrel.[caption id="attachment_1809" align="alignright" width="293" cap... ( read more )

August 25, 2009 - Obama to Tap Bernanke For Second Term

President Obama is expected to nominate Ben Bernanke to a second term as head of the Federal Reserve, a senior administration official told CNN Monday night.[caption id="attachment_1927" align="alignright" width="220" caption="Bernanke Gets A Second Term"][/caption] The source asked not to be identified because the announcement had not yet been made. Obama is expected to make the announcement on Tuesday morning at Martha's Vineyard, Mass., where he is vacationing. Bernanke, a Republican who has played a central role in the government's... ( read more )

August 25, 2009 - Forex Video – Pre London Open – August 25th...

Forex Video – Pre London Open – August 25th 2009

Here is a review of the market before the London Market opens:

Source: FXbootcamp

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August 25, 2009 - US Consumer Confidence On Tap

Today's U.S. Consumer Confidence data release is set to dominate the trading between the Dollar and its major currency pairs. A number of other factors are also likely to impact the forex market today, such as the British BBA Mortgage Approvals at 8:30 GMT. The results of today's data are likely to determine the USD's trend going into rest of the week's trading.[caption id="attachment_1920" align="alignright" width="130" caption="Consumer Confidence On Tap"][/caption] The greenback rebounded versus major currencies Monday, from a string of ... ( read more )