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Theme of the Day so far: Yen weakness...GBP/JPY, CAD/JPY, EUR/JPY, CHF/JPY, etc. among the biggest % gainers on the day, however USD/ZAR tops the list.

Dollar experiencing a bounce vs. commodity currencies: Biggest % losers NZD/USD, AUD/USD

Oil $72 Lessening stock piles supporting crude prices.

Gold $1,015 China is now encouraging its residents to buy gold.

Natural Gas recently has gone from $2.50 to $3.78. May be bottoming soon.

China's Pig Farmers stockpiling Copper: http://www.bloomberg.com/apps/news?p...d=a1B_ZBQfii8Q

G-20 to meet in about a week: http://www.bloomberg.com/apps/news?p...d=aIDUJvqKbTaM

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EURUSD Forecast:
The EURUSD made another moderate bullish momentum, topped at 1.4766 and closed at 1.4743. The bias remains bullish in nearest term with potential targets at 1.4825 (September 23 2008 high) and 1.4867 (September 22 2008 high). On h4 chart below we can see that the pair still trapped in the rising wedge area and we really have just a very little room left before the break. I think I will keep out from the market until we have a break from the rising wedge. The best place to put a long position is still around the rising wedge lower line but with only so little room left in the rising wedge, the risk-reward ratio is not too good at this phase. I know this situation really test our patient. It's clear that we are in bullish ...

Theme of the Day so far: GBP weakness...GBP/USD, GBP/CHF, GBP/JPY leading the % losers (respectively). Almost nothing is weaker than GBP..not the dollar, yen, swissie, etc.

Pockets of dollar strength: USD/ZAR, USD/CAD, USD/TRY are at the top of the % gainers today.

Head & Shoulders pattern on GBP/USD has that pair still falling. Lots of U.K. banking concerns resurfacing out there again.

Bill Clinton video basically admits that the U.S. won't dominate the world any longer: http://www.bloomberg.com/apps/news?p...d=a3mj2ZE40kpE

Oil 72.18 has a bullish ascending triangle pattern on its daily chart. Could target $90+ a barrel if it breaks out to the upside.
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By Mark Thomas

This article opens up a new series where we talk about the development of trading robots, sometimes called Expert Advisors or EAs. Trading bots are increasing in popularity in the forex world and many newcomers jump in and buy them without really knowing what they're doing. This article series will hopefully enlighten you as to what they're all about, what to look for and how to avoid the various pitfalls.

In this first article, we'll cover what a trading robot actually is, the reasons for using a trading robot, whether or not they really work, potential problems that can be struck, and where to start. ...