Blog – Page 56 – The Plot

September 26
2015

Weekly Forex Technical Analysis (Sep 28 — Oct 2)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0868 1.0986 1.1093 1.1211 1.1318 1.1436 1.1543 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0983 1.1087 1.1208 1.1312 1.1433 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

September 25
2015

Inverted Head-and-Shoulders on Hourly Chart of CAD/JPY

Normally, I do not look for chart patterns on timeframes lower than H4. But this inverted head-and-shoulders on CAD/JPY @ H1 just asks for a buy stop order. The pattern is only two days old. Its head was formed yesterday while the right shoulder is based on today’s early trading session. The price is fluctuating not far below the neckline — the whole formation is ready for a breakout. The chart […]

September 25
2015

EUR/USD Falls After Yellen’s Comments, Trims Losses Later

EUR/USD dropped today, though it trimmed the losses as of now. While the currency pair was rising for the most part of Thursday’s session, it backed off from the day’s highs by the end of trading as Janet Yellen, Federal Reserve Chairperson, signaled that an interest rate hike is still probable this year. EUR/USD continued to move down today, though currently it halted the decline, most likely due to profit-taking. According […]

September 24
2015

EUR/USD Moves Higher for Second Day

EUR/USD moved higher for the second consecutive trading session today. Data from the United States was mixed. The housing report was very solid, but durable goods orders dropped. Apparently, the market preferred to pay attention to the bad part of the data. Now, traders wait for Janet Yellen’s speech that is scheduled for 21:00 GMT. Initial jobless claims were at 267k last week, little changed from the previous week’s […]

September 23
2015

EUR/USD Gains, Rally Limited

EUR/USD rallied today with a bit of help from US economic data. Today’s report showed that manufacturing activity remained at low levels while yesterday’s data from Richmond Fed showed that the sector actually worsened. The currency pair’s rally was moderated by comments from Mario Draghi, President of European Central Bank, who signaled that the ECB is ready to stimulate economy if need arises. Flash […]

September 22
2015

Monetizing My Fed Fund Rate Forecast

Right after the recent interest rate announcement by the Fed’s FOMC on September 17, I have decided that there is some money to be made in market’s persistent expectation of the rate hike in the USA. It is consistent with my long-term view on the US interest rates for 2015. The natural way to monetize my disbelief in the higher interest rates was to buy a 30 Day Federal Funds Futures contract on CME. I have checked EXNESS, AGEA, […]

September 21
2015

EUR/USD Moves Down for Second Day

The rally of EUR/USD following the Federal Reserve policy announcement was short-lived, and the currency pair dropped on Friday. It continued to move down today as the market is still digesting the Fed comments. The weak US housing report and the victory of the Syriza party in Greek elections did not provide support for the currency pair. Existing home sales fell to the seasonally adjusted annual rate of 5.31 million in August from the slightly revised 5.58 million […]

September 20
2015

Forex Brokers Update — September 20th, 2015

No new brokers have been added to the list this week, but some of the existing ones have been updated: Tradeo and Valutrades launched Spanish versions of their websites. Forex Time added Vietnamese and Malay website languages. Added new account type — FXTM Pro with MT4 trading platform, $25,000 minimum and extremely low spreads; maximum leverage is still quite high — 1:200. Alfa-Forex is now […]

September 19
2015

Weekly Forex Technical Analysis (Sep 21 — Sep 25)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0942 1.1078 1.1188 1.1324 1.1434 1.1570 1.1681 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1072 1.1175 1.1318 1.1422 1.1564 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

September 17
2015

EUR/USD Spikes as Fed Makes No Move

EUR/USD surged after the Federal Open Market Committee kept its monetary policy unchanged during today’s meeting. While the policy statement was not that different from the previous one, it was still considered rather dovish by markets. Coupled with the downward revisions to growth projections, this led to the crash of the dollar. Fed Chairperson Janet Yellen tried to show hawkishness during the press-conference, saying that an interest rate […]