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Hi,I originally start out as a futures trader. Been trading since 2005Been trading forex for the last year. I have been moving from one company to the other trying to find a trading platform that is adequate and a company that provides the service I am looking for. Most recently I have joined Bforex. I have been with them for a month and a half. T
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Forex: GBP/USD: Pound weakens further; drops to 1.4700
FXstreet.com (Barcelona) ? The Sterling is going through a downward correction after having being rejected at the 1.4950 resistance level, and the pair has given away 150 pips already, dropping to 1.4715 minimum level.According to Greg Holden, technical analyst at Forex Yard, the Pound had reached overbought territory and correction was imminent: ?The 4-hour chart shows the Cable trading in an overbought state on the RSI with a bearish cross on the pair's Slow Stochastic Oscillator. This indicates the
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ECB's Trichet Says Rates at Zero Would be "Inappropriate" (Update)
You have a number of anomalies that might appear when you are zero, Trichet said in an interview with Dutch television broadcaster RTLZ on Friday. It is full of drawbacks.However, Trichet added that there were other instruments that could be utilized, even if rates did come down to such levels.At its meeting on Thursday, the Governing Council voted unanimously to keep its main refinancing rate unchanged at 2.00%. However, acknowledging that inflationary pressures are easing and that growth would remain
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UK Preview: Further Clues on Policy to be Revealed in BOE Inflation Report
According to Barclays fixed income strategist Moyeen Islam, the Bank of England's
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Aussie Dollar Could Drop on Weaker-than-Expected Employment Report
The Antipodean currency has experienced a choppy ride during the past week. A wave of risk aversion on Tuesday caused the Aussie dollar to drop two cents and give up most of its gains during the week.Today the Aussie dollar has remained relatively range bound, hitting a session high of 0.6601 USD and a session low of 0.6483 USD. The Aussie dollar is up 0.23 cents to 0.6571.Strategists are waiting for January's employment number, which they said could add to
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USD/CAD Under Pressure as Markets Wait for Financial Bailout Plan
Domestic data had no impact on the Canadian dollar as FX markets ignored Friday's surprising drop in employment in January and Monday's soft housing starts report, also for January.Sentiment in the stock market remains relatively positive over Treasury Secretary Timothy Geithner's plans to save the financial system. His press conference, originally scheduled for today, was postponed until Tuesday. The USD/CAD ran into strong selling at just below the 1.3000 level in overnight trading and is struggling to hold on to
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Canadian Dollar Remains Range Bound Following BOC Governor Carney's Speech
According to FX strategists, markets weren't surprised at hints that the central bank could embark on quantitative easing measures.Despite a weaker January employment report, the Canadian dollar has managed to hold on to some gains across the board. The USD/CAD is struggling to make a break above 1.23 CAD and the EUR/CAD is unable to hold gains above 1.61 CAD. This morning, the USD/CAD is up half a cent to 1.2225 CAD and the EUR/CAD is up 0.74 cents to
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ECB's Ordonez Says "Very Probable" Rates Will Come Down in March
We can clearly keep cutting from 2% and it's very probable that in the next session we will cut, Ordonez told reporters in Zaragoza, Spain on Wednesday. However, the central banker hesitated when asked whether the ECB could bring its refi rate to as low as zero. At the moment, I wouldn't even consider it because we're still very far from that situation.Ordonez, also the Governor of the Bank of Spain, warned that Spain needs to implement structural reforms to
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