Blog – Page 322

January 15
2008

Retail Sales for December Disappoint Dollar Bulls

EUR/USD has been ranging up and down through the whole day as the Forex traders were expecting the release of the important fundamental data today. After the retail sales report for December came out, euro started to gain at a fast pace against the U.S. dollar and broke the important resistance level of 1.4900. December advance estimate of the retails sales fell down by 0.4% after a 1.2% growth a month earlier, while a stagnation at 0% was […]

January 13
2008

New Science of Technical Analysis

I uploaded a new Forex e-book to the site today — it’s called “The New Science of Technical Analysis”. It was written by Thomas R. DeMark, one of the founders of the modern technical analysis and developer of the DeMark’s pivot points. This book is more suited for the experienced Forex traders, because it goes quite deep into the techniques of chart analyzing, while being not very entertaining (of course, hardcore Forex traders will be […]

January 12
2008

Forex Technical Analysis for 01/1401/18 Week

EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: hold.EUR/JPY trend: sell. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4493 1.4567 1.4671 1.4745 1.4849 1.4923 1.5027 GBP/USD 1.9077 1.9280 1.9422 1.9625 1.9767 1.9970 2.0112 USD/JPY 106.41 107.40 108.12 109.11 109.83 110.82 111.54 EUR/JPY 157.35 158.64 159.71 161.00 […]

January 11
2008

Dollar Steady Even After Trade Balance Deficit Widens

The dollar showed a mild growth against the euro today even after the trade balance report showed the widening of the deficit. Against the Great Britain pound the U.S. dollar also went up, with GBP/USD hitting the lowest value since march — 1.9481, but lost the most of the gain after the trade balance release. The U.S. international trade balance deficit increased in November from $57.8 billion to $63.1 billion as the imports grew ten […]

January 10
2008

Interest Rate Decision’s Influence on EUR/USD

Today the European Central Bank decided to leave the interest rate unchanged at 4.00%, as it was expected by the markets. But the EUR/USD went up after the decision became known — the currency pair gained more than 70 pips. What has caused that? Along with the rate decision ECB announced another $20 billion intervention to the banks to add more dollar liquidity. That greatly cut the dollar’s position on Forex, especially […]

January 8
2008

Random Forex Trading Expert Advisor

Recently I was reading about the random walk hypothesis and I’ve got interested in this idea. So, I though that it would be really fun to develop a MetaTrader expert advisor that will trade completely random. No indicators or other ways to base the forecasts on the past data, just a plain “coin flipping”. After several days of coding and testing (testing mostly) the myRandom expert advisor was ready. It enters […]

January 7
2008

MetaTrader Indicators — User’s Tutorial

Update 2016-05-09: The tutorial has been completely revamped to reflect the most current and easiest way to install new indicators in MetaTrader — both MT4 and MT5. This tutorial covers indicator installation for MetaTrader 4 and 5. Since MT4 Build 600, there is no difference in the way it is done in the two versions of the platform. There are many free MetaTrader indicators available online, but some people still encounter […]

January 6
2008

Carnival of Forex Trading — January 6, 2008

Welcome to the January 6, 2008 edition of Carnival of Forex Trading. Ian Welsh presents Has the Dollar Hegemony’s Tipping Point Been Passed? posted at The Agonist, saying, “Being the standard reserve currency mattered. Knowing when the switch is occuring will be important for betting the trend.” Vahid Chaychi presents Is Forex a Suitable Job for Everybody? posted at Weboma.com, saying, “Forex is good job but it is not […]

January 5
2008

Forex Technical Analysis for 01/0701/11 Week

EUR/USD trend: sell.GBP/USD trend: hold.USD/JPY trend: sell.EUR/JPY trend: sell. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4340 1.4454 1.4597 1.4711 1.4854 1.4968 1.5111 GBP/USD 1.9144 1.9409 1.9573 1.9838 2.0002 2.0267 2.0431 USD/JPY 102.01 104.96 106.78 109.73 111.55 114.50 116.32 EUR/JPY 151.94 155.84 157.96 161.86 […]

January 4
2008

EUR/USD Soars on Disastrous Employment Data

EUR/USD showed a growth of more than 100 pips in one hour immediately after the employment data from the United States were released today. While trading flat and even falling a little during the day, EUR/USD broke through its own record level setting a new historical maximum to 1.4824. Nonfarm payrolls growth was expected to fall from 94k in November to 70k in December, but the released data was a real […]