Blog – Page 22 – The Plot

September 26
2016

Is Forex Market Random?

Are Forex charts random? Does trying to predict the market and trade currencies for profit even makes sense? Traders and curious people ask these questions and, I am sure, find a lot of contradicting answers online. The number of traders who claim getting consistent profits from the foreign exchange market is counterbalanced by a number of persons stating that the market cannot be predicted because randomly-generated charts cannot be reliably […]

September 25
2016

Forex Brokers Update — September 25th, 2016

It looks like September will be the first month without new brokers being listed on EarnForex.com for a long time. It seems to me that the regulatory burden is taking its toll from the number of new companies in this industry. Updates to the listed brokers this week include: Tradeo added CFD instruments for trading. Margin call is now triggering at 200% equity level. Gold, silver, and metals are […]

September 24
2016

Weekly Forex Technical Analysis (Sep 26 — Sep 30)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.1005 1.1064 1.1140 1.1198 1.1274 1.1332 1.1408 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1068 1.1148 1.1202 1.1282 1.1336 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

September 22
2016

EUR/USD Extends Rally After Wednesday’s Policy Announcement from Fed

EUR/USD extended its yesterday’s rally that was caused by the passiveness of the Federal Reserve. Today’s data was not helpful to the US dollar either as both housing data and the leading indicators missed expectations. Only unemployment claims were better than forecasts. Initial jobless claims fell from 260k to 252k last week while analysts had expected them to stay almost unchanged at 261k. (Event A on the chart.) Existing home […]

September 21
2016

EUR/USD Moves Higher After FOMC Stays Passive

EUR/USD was moving higher today, and while it paused for a short time during the policy announcement from the Federal Open Market Committee, the currency pair continued to move to the upside afterwards. US crude oil inventories dropped by 6.2 million barrels last week instead of rising by 3.2 million as analysts had predicted, though remained at the historically high levels for this time of year. The stockpiles were down 0.6 million the week […]

September 20
2016

Major Fixing of Position Size Calculator + Symbol Leverage Display

I have uploaded a new version of Position Size Calculator indicator for MetaTrader today. It addresses several issues mentioned in the forums and in support messages and provides better usability. Here is the list of changes: Calculated symbol Leverage is now visible in the Margin tab of the panel. Fixed a bug that prevented proper panel resizing when take-profit button was pressed while lines are hidden. Fixed duplicating panel objects when […]

September 18
2016

Forex Brokers Update — September 18th, 2016

With another week gone without new brokers added to EarnForex.com, it is time to report on the changes to the existing listings: eToro‘s minimum account size is $200 instead of $50. Alpari now offers CFD instruments in its ECN accounts. OctaFX added MT4 Micro account with $5 minimum size and launched MT5 Pro accounts with MetaTrader 5 live trading. The broker has significantly lowered its […]

September 17
2016

EUR/USD Ends Trading Sharply Lower

EUR/USD ended trading far below the opening level. While the majority of traders do not believe in an interest rate hike from the Federal Reserve next week, they still bet on a rate increase later this year. Such view strengthened after the better-than-expected inflation report released on Friday, boosting the dollar against its rivals. CPI rose 0.2% in August, exceeding the median forecast of 0.1%. The index was unchanged in July. […]

September 17
2016

Weekly Forex Technical Analysis (Sep 19 — Sep 23)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0973 1.1061 1.1107 1.1195 1.1241 1.1329 1.1376 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1051 1.1086 1.1185 1.1221 1.1319 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

September 15
2016

Dollar Gains on Euro, Overcoming Impact of Bad Data

There was a huge number of economic reports released from the United States today, and many of them were bad. Yet that did not prevent the dollar to gain on the euro. September interest rate hike from the Federal Reserve is basically out of the picture, but plenty of traders continue to bet on monetary tightening in December. Seasonally adjusted PPI showed no change in August while forecasters had promised growth by at least […]