Blog – Page 54 – The Plot

October 17
2015

Forex Brokers Update — October 17th, 2015

One new broker has been added during the two weeks that passed since the last update: FxGrow — an ECN Forex broker regulated by CySEC. It provides services via MT4 and NetStation platforms. The broker offers ECN (from $100) and ECN Plus (from $1,000) account types. The latter has lower spreads but goes with commission. FxGrow Many listed brokers have been updated: NSFX now […]

October 16
2015

Dollar Extends Bounce

The dollar continued to gain on the euro during the Friday’s trading session, extending the bounce it has started on Thursday. The euro was undermined by comments from officials from the European Central Bank who were hinting at additional monetary stimulus from the central bank. Industrial production fell 0.2% in September, in line with experts’ expectations, after dropping 0.1% in August. Capacity utilization rate was at 77.5% last month, also matching […]

October 15
2015

EUR/USD Halts October’s Rally

EUR/USD dropped on Thursday, demonstrating the biggest loss so far this month. The dollar gained as the core components of consumer inflation went up 0.2 percent last month, above expectations, while European policy makers were talking about necessity of additional stimulus for Europe’s struggling economy. USD CPI fell 0.2% in September, in line with expectations, after declining 0.1% in August. At the same time, core CPI rose 0.2% […]

October 14
2015

Live Trading Part of tradimo + One Financial Competition

As I have written before, tradimo partnered with One Financial broker to launch a two-part trading challenge this autumn. The demo part lasted from September 14 until October 2. The live trading part is scheduled to start on November 2 and will last through December 11 of this year. The live trading part is definitely a more fun version of the competition as you get a chance to win control of a $50,000 account […]

October 14
2015

EUR/USD Continues to March Upward

EUR/USD was rising during almost every trading session in October (with a couple of exceptions) and the current trading session was not different. The main reason for the rally was doubts about the ability of the Federal Reserve to start monetary normalization in 2015. Today’s economic data from the United States added to such concerns as most of the reports were disappointing. PPI slid 0.5% in September after showing no change in August. Forecasters had […]

October 12
2015

How Many Charts Do You Monitor?

A popular advice directed at newbies is to focus on a single currency pair — to learn its traits, to see how it trends, to observe its flow through trading sessions, to get used to its volatility. Staying focused on one currency pair can definitely be useful, especially if you are scalping or trading on sub-hourly timeframes. However, by limiting oneself to just one trading instrument to watch, a trader reduces the attainable profit […]

October 11
2015

Ascending Channel on Short Term (H4) NZD/JPY

New Zealand dollar is rising against the Japanese yen in a clear uptrend from late September. On October 2, the currency pair entered the ascending channel on its 4-hour chart and is holding to it since then. The channel is well-defined but is poorly placed. Ideally, it should have been a recovery part of a major bearish trend, but in this case, it just follows an almost month long consolidation […]

October 10
2015

Weekly Forex Technical Analysis (Oct 12 — Oct 16)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.1008 1.1090 1.1223 1.1305 1.1439 1.1520 1.1654 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1103 1.1249 1.1318 1.1465 1.1533 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

October 9
2015

EUR/USD Ends Friday on Positive Note

EUR/USD was rising for the most part of this trading week, and Friday was not an exception. The currency pair gained as traders considered yesterday’s minutes of the latest Federal Reserve policy meeting to be rather dovish. Such view reinforced the opinion that the Fed is not going to start monetary tightening in 2015. This, in turn, made the dollar a lot less attractive to investors. Import and export prices dropped in September. Import prices […]

October 5
2015

EUR/USD Fails to Extend Friday’s Rally

EUR/USD attempted to extend Friday’s rally today and was successful at first. Yet the rally halted as of 12:45 GMT, and the currency pair started to move down. This is rather surprising, considering that the Monday’s data from the United States was not good at all and should have been detrimental to the dollar. Final Markit services PMI fell from 56.1 in August to 55.1 in September. The median analysts’ forecast was almost the same […]