Blog – Page 43 – The Plot

February 5
2016

Poor NFP Don’t Prevent EUR/USD from Falling

Nonfarm payrolls released on Friday missed analysts’ expectations, but that did not translate into a rally of EUR/USD. In fact, the currency pair dived after the release. It could be explained by the fact that while employment growth was disappointing other parts of the report were positive, especially wage growth. Other economic indicators were also playing in favor of the dollar. Nonfarm payrolls disappointed the market as they grew by just […]

February 4
2016

Monetary Tightening in Question, EUR/USD Continues March Higher

EUR/USD extended its rally today following dovish comments from New York Fed President William Dudley that led to speculations that the Federal Reserve would not be able to perform even a single interest rate hike this year. US economic data was not helping the dollar either with rising jobless claims and falling factory orders. Initial jobless claims ticked up from 277k […]

February 3
2016

Weak Services Data Leads to Crash of USD vs. Euro

Services sector indicators from both Markit Economics and Institute for Supply Management were weak today. This lead for a drop by more than 1 percent of the US dollar versus the euro. Even strong US employment data was unable to rescue the greenback. ADP employment grew by 205k in January, exceeding analysts’ projections of 193k. The December increase was revised from 257k to 267k. (Event A on the chart.) Markit services PMI slid […]

February 2
2016

Sticking with a Broker — How Long? Poll.

Undeniably, there are many valid reasons to leave a broker and join another, especially if you are an active Forex trader. At the same time, sticking to one company can also be beneficial in a way — you build up trust, you get used to all their small peculiarities, and with years it becomes harder to close that account. At least a third of this blog’s visitors traded Forex for more than […]

February 1
2016

EUR/USD Starts Week Strong

EUR/USD started the week strong, though not strong enough to erase the Friday’s big drop that has demolished gains of three days in one swoop. Monday’s economic data released from the United States was relatively soft while macroeconomic indicators released from the eurozone were decent for the most part. This week is busy with economic releases from the US, and the most important of them is going to be […]

January 30
2016

Weekly Forex Technical Analysis (Feb 1 — Feb 5)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0578 1.0683 1.0757 1.0862 1.0935 1.1041 1.1114 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0675 1.0741 1.0854 1.0919 1.1033 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

January 29
2016

EUR/USD Erases Three Days of Gains

US gross domestic grew a tad slower in the previous quarter than analysts had expected, but that did not prevent the dollar from rising. In fact, the greenback erased its losses versus the euro for the previous three days of the four-day decline. Yet the major event for the Forex market on Friday happened outside of the United States and Europe as the Bank of Japan announced surprise monetary easing, sending all currencies higher against the yen. […]

January 28
2016

US Data Makes Dollar Fall Further

The dollar extended its slide versus the euro for the fourth consecutive day during the current trading session as US poor economic data suggested that the Federal Reserve is not going to tighten its monetary policy aggressively. Macroeconomic indicators released from the eurozone on Thursday were not good as well, but it looks like the greenback is more vulnerable to a negative monetary policy outlook right now. Initial jobless […]

January 27
2016

Dollar Falls Further vs. Euro as FOMC Assesses Balance of Risks

The dollar fell further against the euro today, extending its decline for the third straight session. The major event during Wednesday’s trading was the policy meeting of the Federal Reserve. As was expected, Fed members did not change the policy. The statement said that policy makers are going to assess the balance of risks (previous statements were saying that risks are balanced), suggesting that the Fed is less certain about […]

January 26
2016

EUR/USD Flat as Traders Wait for Fed

EUR/USD trades flat currently after attempting to rally and to decline but failing to find direction. US economic data was of little help in determining trend as it was mixed. Now, traders wait for tomorrow’s monetary policy announcement from the Federal Reserve. While most market participants do not expect the Fed to change its monetary policy the next month after it hike interest rates, many are worried […]