1) Knowledge Deficiency – Most new FOREX traders don’t take the time to learn what drives currency rates (primarily fundamentals). 2) Overtrading – Trading often with tight stops and tiny profit targets will only make the broker rich. The desire to “just” make a few hundred dollars a day by locking in tiny profits whenever ...Continue Reading »
The euro slid to the lowest level in more than four years against the dollar on concern European measures to reduce fiscal deficits will undermine the 16-nation currency region’s recovery. The yen rose against all 16 of its most-traded peers, while the dollar climbed against all but two currencies. Euro-area finance ministers meet in Brussels ...Continue Reading »
AUDUSD Analysis. AUDUSD drops sharply to as low as 0.8731 and is testing 0.8715 key support, a breakdown below this level will indicate that the downtrend from 0.9381 has resumed, then deeper decline could be seen to 0.8600 area. Initial resistance is now at 0.8838, only rise above this level could trigger another rise to ...Continue Reading »
The euro fell to the lowest level in more than four years on concern European measures to reduce fiscal deficits will undermine the 16-nation region’s recovery. The shared currency declined to a one-week low versus the yen after European Central Bank President Jean-Claude Trichet called for a “quantum leap” in the way euro-area nations set ...Continue Reading »
Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said. “I wouldn’t rule out that this may be a recourse,” Papandreou said, in response to questions about the role of U.S. banks in the crisis, in an interview on CNN’s “Fareed ...Continue Reading »
Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said. “I wouldn’t rule out that this may be a recourse,” Papandreou said, in response to questions about the role of U.S. banks in the crisis, in an interview on CNN’s “Fareed ...Continue Reading »
The euro headed for a fourth weekly decline, breaking through the 14-month low reached against the dollar last week, on concern European nations’ debt-cutting measures will undermine economic growth. The 16-nation currency touched the least in a week versus the yen before Greece submits a progress report tomorrow to the European Commission on the implementation ...Continue Reading »
The euro may tumble back to its starting level of $1.18 in January 1999 as widening deficits in the European Union jeopardize the single currency’s status, according to Sumitomo Mitsui Banking Corp. The euro’s emergence as an alternative to the dollar as a major currency is in doubt because none of the European member states ...Continue Reading »
