Blog – Page 65 – The Plot

June 17
2015

Dollar Weakens After FOMC Policy Meeting

EUR/USD has been trading basically sideways for the most part of the Wednesday’s trading session but broke to the upside after the Federal Reserve had concluded its policy meeting. Market participants perceived the Fed’s statement to be dovish, resulting in a drop of the dollar against other currencies, including the euro. US crude oil inventories decreased by 2.7 million barrels last week following the huge drop by 6.8 billion the week before but […]

June 16
2015

EUR/USD Rallies on Monday, Remains Under Pressure

The dollar fell against the euro on Monday as US macroeconomic reports were surprisingly lackluster for the most part. EUR/USD remained under pressure, though, after the weekend talks between Greece and its creditors turned out to be an utter failure and the indebted country is closer to a default than ever. NY Empire State Index sank from 3.1 in May to -2.0 in June. It was a huge (and unpleasant) surprise for traders who had […]

June 15
2015

Rented VPS vs. MetaQuotes Virtual Hosting vs. Broker’s VPS

According to my 2010 poll, about 20% of this blog’s readers are using some kind of a Forex VPS service to host their trading platform, and some 30% are planning to use a virtual private server for trading. I am quite sure that the things have changed significantly since then as Forex traders gain better understanding of how VPS works, realize the convenience of using it, and because of the overall higher quality of the service […]

June 13
2015

Weekly Forex Technical Analysis (Jun 15 — Jun 19)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0800 1.0942 1.1102 1.1244 1.1404 1.1546 1.1706 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0947 1.1111 1.1248 1.1413 1.1550 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

June 13
2015

Forex Brokers Update — June 13th, 2015

No new brokers this time, but some of the companies have been updated during the week: FXOpen now offers oil and natural gas CFD trading in some of its account types. AvaTrade added Hungarian version of its website and launched support service in this language. WesternFX added offices in Canada and Bangladesh. Is now regulated by FSA (St. Vincent & the Grenadines). Replaced Premium account types with Classic […]

June 12
2015

Dollar Pares Gains Despite Supportive Data

The dollar pared its initial gains versus the euro today even though US economic data continued to be supportive for the greenback. The euro still remained under pressure as talks between Greece and its creditors continue as the deadline for debt repayment nears. PPI rose 0.5% in May, a bit more than had been predicted by analysts (0.4%). The index dropped by 0.4% in April. (Event A on the chart.) Michigan Sentiment Index edged up […]

June 11
2015

EUR/USD Halts Rally Quickly

As was expected, the rally of EUR/USD has been short-lived as the currency pair dropped on Thursday. US economic data was mostly positive, especially the impressive growth of retail sales. Meanwhile, Greece remains a major negative factor for the euro, making the 19-nation currency soft compared to the US dollar. Retail sales rose 1.2% in May, in line with expectation of a 1.1% increase. The previous month’s reading was revised from no change to 0.2% […]

June 10
2015

EUR/USD Demonstrates Fragile Rally

EUR/USD was swinging up and down today but stayed for the most part above the opening level. The euro was carried up by the surging yields for German bunds. Yet the rally looks fragile as the crisis in Greece darkens the mood of traders and makes it very likely for the shared 19-nation currency to reverse gains very soon. US crude oil inventories dropped by 6.8 million barrels last week, exceeding the expected decrease by 1.5 […]

June 9
2015

E-Book Review: Introduction to Elliott Wave Theory

Elliott Wave theory is a popular topic in Forex trading — almost 20% of this blog readers use EW in their analysis. Last year, I have uploaded a book, which offers a new approach to achieve a definitive wave count in Elliott Wave analysis. Today, I bring to your attention another free e-book — Introduction to Elliott Wave Theory. It was created by Muhammad Azeem, a certified Elliott Wave analyst and an author of our […]

June 8
2015

Do You Trade on Cent Account?

My recent post about the history of cent accounts has attracted some attention from this blog’s readers. It looks like despite their common disadvantages (higher spreads, poorer choice of instruments), cent accounts remain a popular draw for many traders. I would point out the following cases where cent trading may come handy: Getting used to Forex trading for complete newbies. Getting used to a new FX broker. […]