Blog – Page 59 – The Plot

August 26
2015

EUR/USD Extends Reversal Move

EUR/USD extended its Tuesday’s move down that followed the big surge on Monday. Markets calmed down a bit after China took measures to support its slowing economy and to mitigate the negative impact of sinking Chinese shares. Durable goods orders rose 2.0% in July. That is compared to the June’s revised growth of 4.1%. Forecasters have totally missed the mark, promising a drop by 0.4%. (Event A on the chart.) Crude oil inventories […]

August 25
2015

EUR/USD Slips Back After Huge Jump

EUR/USD soared 2 percent on Monday even though the Forex market was driven by risk aversion as the Chinese stock market plunged yet again. Today, the currency pair retreated but is far from erasing its momentous gains. S&P/Case-Shiller home price index rose 5.0% in June from a year ago, at the same rate as in the previous month and in line with expectations. Month-on-month, the indicator was up 1.0%. (Event A on the chart.) […]

August 22
2015

Weekly Forex Technical Analysis (Aug 24 — Aug 28)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0768 1.0893 1.1140 1.1264 1.1511 1.1635 1.1882 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0923 1.1201 1.1295 1.1572 1.1666 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

August 22
2015

Forex Brokers Update — August 22nd, 2015

We have added one new Forex broker during the week that is ending: TrioMarkets — a new company regulated by CySEC. They offer rather standard service with MetaTrader 4 and WebTrader platforms. The minimum account size is $100. They also have quite a big choice of trading instruments with Forex leverage up to 1:400. TrioMarkets A small number of companies have been updated during the week: AMarkets […]

August 21
2015

How Popular Is Forex Market Today?

Almost five years ago, I have posted an overview of the popularity trends for the Forex-related search terms in Google. It reflected the real-world interest of people in online FX trading and everything connected with the concept. So today, I am trying to see how the popularity of the Forex market changed during those five years. All data except for the Twitter statistics is obtained from Google Trends. As seen on the chart below, the popularity of the search term […]

August 20
2015

EUR/USD Extends Move Up

EUR/USD continued to move higher following yesterday’s minutes of the Federal Reserve that were considered dovish by market participants. Today’s economic data from the United States was mixed, though traders paid attention mostly to the negative part. Traders now consider the possibility of a delayed interest rate hike, and this gives the euro an edge on the dollar. Initial jobless claims rose from 273k to 277k last week while analysts had […]

August 19
2015

EUR/USD Shoots to Upside After FOMC Minutes

The Federal Open Market Committee released the minutes of its latest policy meeting, revealing that many policy makers thought that the time for an interest rate hike approaches. Yet the market considered the minutest to be somewhat dovish, leading to a big drop of the dollar versus the euro. There are still analysts who believe that a September hike remains possible, but it is important to remember that the FOMC meeting had […]

August 18
2015

Best Platform to Trade Forex

More than five years ago, I posted a poll about your favorite trading platform. It has shown an overwhelming popularity of the MetaTrader 4 platform with other platforms as the runners-up. But that was before the full release of the MetaTrader 5 platform, before cTrader, and during time when few brokers offered their own proprietary platforms. Obviously, an updated poll is required to address the new platforms and remove the obsolete […]

August 17
2015

EUR/USD Moves Lower on Monday

The dollar gained on the euro during the first trading day of the week even though New York manufacturing sector demonstrated terrible performance. The data did not hurt the US currency much. Traders wait for the FOMC minutes scheduled for release on Wednesday that may shed light on thr plans and the sentiment of US policy makers. Perhaps, the optimism regarding the minutes could explain the strength of the greenback on Monday. NY Empire State Index provided […]

August 16
2015

Forex Brokers Update — August 16th, 2015

One new broker was added during this week to our list of Forex companies: Darttrader — a funny Russian broker with full-scale references to Star Wars franchise. I am not sure that it is a good idea to keep your money with a broker that does not take trading seriously, but their conditions look to be aimed at hardcore active FX traders: $2 minimum account size, […]