Blog – Page 61 – The Plot

August 7
2015

EUR/USD Grows After Volatility Caused by Employment Report

EUR/USD benefited from the uncertainty and volatility caused by the US employment report that was released today. At first, it was considered as dollar-positive, but after two hours of trading, the market participants decided that the report was dollar-negative and proceeded to buy EUR/USD. Nonfarm payrolls rose by 215k in July. The value came out worse than the median forecast of 225k and than June’s 231k (revised up from 223k). Average hourly […]

August 5
2015

Mixed Reports Bring Volatility to EUR/USD

EUR/USD had been trading with a moderate bearish bias today before the US macroeconomic reports hit the market. Initially, it rallied following poor data on the employment situation in July. Then, it fell back to the daily lows when the unexpectedly good non-manufacturing PMI reports had been released. ADP employment registered a monthly growth by 185k jobs in July. It was a major disappointment for the USD bulls following 237k […]

August 3
2015

EUR/USD Recovers Following Positive US Income Statistics

It looks like the EUR/USD currency pair was playing according to the risk aversion rules today. The currency pair was going down before the US reports began coming out but recovered most of its daily losses after the US income and spending numbers have been shown to be positive. The recovery stopped once some negative PMI and construction data had hit the markets. Personal income and spending continued […]

August 3
2015

How Educated Are Forex Traders?

A poll from 2011 indicates that the quarter of this blog’s readers come from the IT background while the shares of finance-related and construction/engineering workers follow not far behind with 17% and 16% respectively. It implies that the Forex traders are an educated lot — top two backgrounds require at least some higher education. But is higher education a necessary prerequisite to trade Forex profitably? Or does it even help? […]

August 2
2015

Forex Brokers Update — August 2nd, 2015

No new companies have been added to our website during the week, but some of the listed brokers have been removed while others have been updated: FXFINPRO Capital added Arabic and Chinese versions to its website. Admiral Markets reduced commission for ECN trading from $3.50 to $3.00 per standard lot. FxPro added oil and other energy instrument in some of its account types. InvestTechFX and Ingot Brokers […]

August 1
2015

Weekly Forex Technical Analysis (Aug 3 — Aug 7)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0638 1.0766 1.0874 1.1002 1.1111 1.1238 1.1347 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0761 1.0865 1.0997 1.1101 1.1233 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

July 31
2015

EUR/USD Bounces After Three-Day Decline

EUR/USD jumped more than 1% today, almost erasing the previous three-day decline. Some attributed the bounce to a couple of negative economic reports from the United States (particularly the weak employment cost index — event B on the chart). Others pointed at data from the eurozone that showed acceleration of core inflation. (Event A on the chart.) Whatever the reason, the dollar had been much stronger earlier during the current session but has […]

July 30
2015

EUR/USD Retains Bearish Momentum

The dollar was broadly higher against other currencies, including the euro, following yesterday’s release of the Federal Reserve policy statement. It looks like traders considered the Fed’s stance to be hawkish enough to continue betting on a September interest rate hike. Today’s report about US economic growth did not change that outlook, even though it was a bit below expectations. US GDP rose 2.3% in Q2 […]

July 29
2015

EUR/USD Fails to Rally on FOMC Statement

EUR/USD fell today even though data released during the current trading session was favorable to the currency pair. Neither falling pending home sales, nor FOMC statement, which was somewhat dovish, could help the euro to gain on the dollar. The shared 19-nation currency attempted to shoot to upside after the release of the policy statement but lost its gains very quickly. Pending home sales fell 1.8% in June instead […]

July 25
2015

Weekly Forex Technical Analysis (Jul 27 — Jul 31)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0640 1.0724 1.0850 1.0934 1.1060 1.1144 1.1270 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0734 1.0871 1.0945 1.1081 1.1155 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]