Blog – Page 343

June 2
2007

EUR/USD Technical Analysis for 6/46/8 Week

Floor Pivot Points: 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.3260 1.3326 1.3387 1.3453 1.3514 1.3580 1.3641 Woodie’s Pivot Points: 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.3325 1.3385 1.3452 1.3512 1.3579 Camarilla Pivot Points: 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res […]

June 1
2007

EUR/USD Bearish After Fundamental News

EUR/USD broke through 1.3400 today on Forex market — showing a new 7-week low. Good macroeconomic data from U.S. was the reason for this break-through. Nonfarm payrolls — a major employment indicator of the U.S. economy — increased by 157,000 in May (22 thousands more than expected), while ISM Index — reported an increase by 0.3% up to 55.0% (against 54.0% expected). ISM Index means a lot in the U.S. economy because it describes […]

May 31
2007

FOMC Minutes to Support Dollar?

FOMC (Federal Open Market Committee) released its May 9 meeting Minutes on Wednesday, May 30. As it has been known since May 9 the conclusion of the meeting states that the inflation remains the main concern for the FOMC, while in future FOMC will outlook both inflation and economic growth. Statements presented in the released Minutes generally support this conclusion giving some more power for the USD bulls. This could […]

May 31
2007

2 New E-Books about Forex Trader’s Psychology

Now you can download two more excellent Forex e-books about a role of the traders’ psychology in their success or failure (which is without a doubt a more often case). These e-books are not very big or complicated, just an hour of interesting and useful Forex reading: 25 Rules Of Forex Trading Discipline — as the title suggest, a set of rules that are necessary to be followed to be a successful Forex trader. Stop […]

May 29
2007

EUR/USD Rally and Rollback after Consumer Confidence

Euro showed a really fast and heart-breaking (for some traders at least) rally of 100 pips today before the major daily fundamental event — May Consumer Confidence Index. After hitting its resistance level at 1.3517 EUR/USD calmed down a bit rolling back to 1.3500 level. May Consumer Confidence Index which came out to be 108.0 against 104.5 expected ended Euro rally moving EUR/USD to 1.3475 level. Many […]

May 28
2007

Forex Trading and Islam

The topic of Forex trading prohibition in Islam is vast and controversial. Many points of view exist on different aspects of on-line Forex trading including — spot trading, futures and options trading, margin trading, overnight interest, etc. The majority of the Islamic jurists agrees that Forex trading can comply with Sharia only if it is spot trading (while futures and options are considered to earn Riba) and if it doesn’t […]

May 26
2007

EUR/USD Technical Analysis for 5/286/1

General trend: bearish or ranging.Floor pivot points:3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res1.3272___1.3341___1.3392___1.3461__1.3512___1.3581___1.3632Woodie’s pivot points:2nd Sup__1st Sup__Pivot____1st Res__2nd Res1.3337___1.3382___1.3457___1.3502__1.3577Camarilla pivot points:4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res1.3376___1.3409___1.3420___1.3431__1.3453___1.3464___1.3475___1.3508 Tom DeMark’s pivot points:Resistance: 1.3486Support: 1.3366 Fibonacci retracement levels:100% — 1.353161,8% — 1.348550,0% — 1.347138,2% — 1.345723,6% — 1.343900,0% — 1.3411

May 26
2007

Another Forex Broker

Another Forex broker added to the list — PFG Forex — an on-line brokerage company operated by Peregrine Financial Group (founded in 1980). This Forex broker is registered with CFTC and is a member of National Futures Association. The good thing about it is that it’s “only” $1,000 minimum account while giving the trader an opportunity to try high-end trading platforms (not only Forex, but futures and commodities too!). What’s […]

May 25
2007

Bad Houses Sales Cost Pips

Forex market was quite predictable today after the data on the Existing Home Sales for April came in 15:00 GMT. This macroeconomic indicator showed very poor results — 5.99 millions against 6.13 millions expected (and 6.15 millions in March). After these data came out EUR/USD gained nearly 50 pips (up to 1.3572) as the low activity in the realty industry can mean a general weakness in the U.S. economy. EUR/USD has […]

May 23
2007

Euro Down to 1.3416, While Pound Regains Strength

EUR/USD touched new its new monthly low at 1.3416. That was a very important movement for Euro bears, but the currency pair bounced back up to high 1.3500 very soon and then flattened down to 1.3460 — showing its volatile nature. Nevertheless, mid-term trend for EUR/USD can be seen as bearish. At the same time GBP returned its positions today on Forex market after Bank of England spoke about […]