Blog – Page 38 – The Plot

March 27
2016

AUD/JPY — Symmetrical Triangle After Short-Term Uptrend

Normally, symmetrical triangles follow strong directed movement. They represent consolidation before a continuation of the trend. This time, the daily chart of AUD/JPY is demonstrating a not-so-strong uptrend followed by a two-week pattern buildup. Nevertheless, a bullish breakout could mean that the uptrend will return to this currency pair. The triangle’s borders are marked with the yellow lines on the image below. The cyan line is my entry level located at 10% of the triangle’s […]

March 26
2016

Weekly Forex Technical Analysis (Mar 28 — Apr 1)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0968 1.1056 1.1109 1.1197 1.1249 1.1337 1.1390 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1047 1.1091 1.1188 1.1232 1.1328 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

March 25
2016

Forex Regulation Authorities

While all transactions in a stock or futures markets are carried out under the supervision of an exchange, Forex is an over-the-counter market where the transacting parties can be from different corners of the globe. Thus, in the interest of investors, it becomes all the more important for the regulatory authorities to closely monitor the brokers facilitating the trades. Here is an attempt to describe the most popular regulatory authorities around the world that uphold legal and ethical standards […]

March 24
2016

Fifth Day of Losses for EUR/USD

EUR/USD declined today, extending its losing streak for the fifth straight day. Economic data released from the United States over Thursday was not particularly good. Yet the outlook for monetary tightening from the Federal Reserve helped the dollar to weather the negative impact of the unfavorable reports. Many markets will be closed tomorrow for Good Friday, therefore trading should be quiet. Initial jobless claims were at the seasonally adjusted […]

March 23
2016

EUR/USD Down for Fourth Session

EUR/USD extended its declined for the fourth consecutive session today. Markets are recovering after the impact of yesterday’s bombing in Brussels and feel less need for safe haven. Yet the dollar was still gaining on the euro as various regional Fed presidents were talking about possibility of an interest rate hike as soon as the next month. New home sales were at the seasonally adjusted level of 512k in February, matching forecasts exactly. The January rate […]

March 22
2016

How to Add Alerts to MetaTrader Indicators

Originally, I intended this post as a do-it-yourself guide on how to add alerts to MetaTrader indicators without knowing how to code at all. But writing it, I came to realization that even if a trader knows nothing about MQL language and coding he will have to learn some basics through this guide because adding alerts does require deep understanding of how MetaTrader code works. Contents 1 Prerequisites 2 […]

March 22
2016

EUR/USD Trades Lower After Explosions in Brussels

EUR/USD was trading below the opening level today, though the currency pair is attempting to rebound right now. There were several reasons for the dollar’s gains against the euro. Firstly, the news about explosions in Brussels resulted in the risk-averse sentiment on the Forex market. Secondly, a couple of regional Fed presidents spoke, suggesting that an April interest rate hike remains in the cards. Thirdly, the unexpected jump of the Richmond Fed manufacturing index was […]

March 21
2016

EUR/USD Little Changed in Subdued Trade

EUR/USD traded close to its opening level after trying to move both to the upside and to the downside. Trading is subdued as this week is relatively light on economic data and other major events, providing little in term of helping currencies establishing trends. Therefore, traders digest the previous week’s events, the Federal Reserve’s policy announcement in particular. Existing home sales fell to the seasonally adjusted annual rate of 5.08 million in February from […]

March 20
2016

Hedging Positions in MetaTrader 5

MetaTrader 5 Build 1274 has been released on MetaQuotes demo server after this Friday’s session close. It is potentially one of the most exciting MT5 updates for many traders. It makes hedging possible. Yes, you can now go long and short on the same currency pair at the same time in MetaTrader 5. For now, it is only on demo accounts — you have to open a special hedging demo […]

March 20
2016

Forex Brokers Update — March 20th, 2016

This week saw addition of one new broker to our website: FCI Markets — a new FCA-regulated Forex company with MetaTrader 4, Currenex, and NetStation trading platforms. They offer accounts starting from $1 and with very low spreads. FCI Markets Updates of the existing brokers are listed below: RoboForex now accepts deposits via PayPal. Sensus Capital is now GBE brokers. They have increased […]