Blog – Page 35 – The Plot

April 29
2016

Rally of EUR/USD Accelerates

After four sessions of modest gains, EUR/USD demonstrated an impressive jump during Friday’s trading. It was not surprising if one takes into consideration that the majority of US economic indicators released during the current trading session were not good. The only better-than-expected piece of data was personal income. All others were below expectations. Personal income and spending rose in March. Income was up 0.4%, […]

April 28
2016

US GDP Misses Expectations, EUR/USD Extends Upward Move

Today’s economic data released from the United States was not particularly good. First quarter’s growth of the US economy was slower than economists had anticipated. The number of unemployment claims grew last week. As a result, EUR/USD was able to extend its upward move for the fourth straight session. US GDP rose 0.5% in Q1 2015 according to the advance (first) estimate. The reading failed to meet the consensus market expectations […]

April 27
2016

Fed Holds Interest Rates Steady, EUR/USD Up

The main theme of Wednesday’s trading session was the monetary policy announcement from the Federal Reserve. The Fed offered no surprises, holding its policy steady and giving no particular hints about its plans for the future. EUR/USD was very volatile immediately after the event but steadied quickly and moved mostly sideways afterwards, though with an upward bias. Pending home sales rose 1.4% in March from the downwardly revised […]

April 26
2016

EUR/USD Rides on Poor Data Coming from USA

EUR/USD fared quite well today and has rallied strongly following a series of macroeconomic reports coming out of the United States. Nearly all indicators have disappointed the dollar bulls, adding strength to the euro attack against the greenback. Durable goods orders added only 0.8% in March according to the preliminary report by the US Census Bureau. That was much better than the last month’s drop by 3.1% but considerably worse than […]

April 25
2016

Using Aggressive Pyramiding to Go Beyond Margin Limits

When you read about pyramiding in Forex, the first association that sparks up is scaling in, that is increasing the size of profitable positions. I have written about this concept before and I am not very fond of scaling into normal trades. Aggressive pyramiding is a different kind of beast. It is a way to increase the size of the position beyond the limits imposed by the initially available margin. As your starting position’s […]

April 24
2016

Forex Brokers Update — April 24th, 2016

The last three weeks have seen some numerous updates to the existing brokers but only one addition of the new company to the list of brokers on EarnForex.com. TradeWiseFX — an offshore broker from Saint Vincent and the Grenadines with classic and ECN account types. Both are based on MetaTrader 4 platform and have $25 minimum size. TradeWiseFX Updates during the period include: AMarkets no longer has offices in the USA, Singapore, and the UK. Opened […]

April 24
2016

USD/CAD in Descending Channel Since January 2016

A very long descending channel can now be seen on the daily chart of the USD/CAD currency pair. It had started forming right after the multi-year peak registered on January 20. As a continuation pattern, descending channel interrupts an uptrend, which is to be continued following a bullish breakout of the upper border. The chart screenshot below shows the channel itself outlined with the yellow lines. The cyan line points to an entry level in case […]

April 23
2016

Weekly Forex Technical Analysis (Apr 25 — Apr 29)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0971 1.1093 1.1154 1.1276 1.1337 1.1460 1.1521 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1078 1.1124 1.1261 1.1307 1.1444 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

April 21
2016

EUR/USD Erases Gains After ECB Meeting

EUR/USD had started a strong rally after 9:00 GMT but has lost it after the monetary policy meeting of the European Central Bank. (Event A on the chart.) Now, market participants focus on the next week’s meeting of the Federal Reserve, and some of analysts say that the Fed may be more bullish than traders are anticipating. US data was not that great today (with the exception of jobless claims), but […]

April 20
2016

EUR/USD Goes Down After Three Sessions of Gains

EUR/USD fell for the first day in four during Wednesday’s trading. Prospects for monetary easing loom over the euro, liming the attractiveness of the currency to investors. Most analysts do not expect for the European Central Bank make a move during tomorrow’s meeting, but comments from ECB officials may hurt the euro all the same. Meanwhile, the dollar found support from the positive housing data, which followed yesterday’s negative report. Existing […]