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Blog
June 72015
Ascending Channel on EUR/JPY D1 Chart — Reversal Pending?
The rising channel pattern that is now so evident on the EUR/JPY D1 chart has began forming two months ago. Basically, the channel is a correction wave of the major bearish trend that lasted since early December 2014 till April 2015. The borders of the channel are based on multiple daily highs and lows and appear valid. You can see the borders of the ascending channel depicted with the yellow lines on the chart […]
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June 62015
Weekly Forex Technical Analysis (Jun 8 — Jun 12)
EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0383 1.0635 1.0875 1.1127 1.1368 1.1620 1.1861 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0632 1.0870 1.1125 1.1363 1.1617 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]
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June 62015
Forex Brokers Update — June 6th, 2015
Two new companies have been added to the directory of brokers on EarnForex.com this week: WatanFX — a Pakistani Forex broker with an English/Urdu website. It is a brand new broker and they offer MT4 trading with as little as $1 and up to 1:400 leverage — all with variable spreads. WatanFX SimpleFX — an offshore Forex broker that went online in 2014. SimpleFX offers MT4 and a custom proprietary web interface for MetaTrader, which […]
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June 52015
Euro Tumbles vs. Dollar After Nonfarm Payrolls
Today, EUR/USD has been hit hard by US nonfarm payrolls that had turned out to be even better than optimistic predictions by market experts. As a result, the dollar surged against the basket of major currencies, one of which is the euro. Consumer credit data released by the end of the trading session added to the strength of the US currency, being better than forecasts. Nonfarm payrolls demonstrated amazing growth in May, rising by 280k. […]
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June 42015
EUR/USD Halts Rally After US Jobless Claims
The euro has been among the strongest currencies on the Forex market this week, and initially it looked like EUR/USD would continue to rise today. Yet the currency pair slipped below opening level as of now. US unemployment data was one of the major contributors to the decline. Initial jobless claims fell from 284k to 276k last week. The consensus forecast pointed at 280k as a possible number. (Event A on the chart.) Revised nonfarm productivity […]
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June 22015
The History and Future of Cent Accounts
Contents 1 Mechanics 2 History 3 Advantages 4 Disadvantages 5 Future Cent account is a Forex trading account denominated in USD cents instead of the US dollars. Euro cent accounts are also used but they are less popular than USD cent accounts. Centesimal units of other currencies can also be utilized by the brokers as trading account denomination, but none are as widely used […]
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June 12015
EUR/USD Halts Rally Due to Greek Talks Impasse
It looks like EUR/USD has left the recovery mode as the currency pair dropped today, erasing gains of the two previous trading sessions. The major reason for the drop was the stalemate in talks between Greece and its creditors. The deadline for repayment of the Greek debt is nearing, and with it chances for the indebted country to exit the eurozone increase. While some experts argue that such an outcome may be positive for the euro in the long run, […]
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May 312015
Forex Brokers Update — May 31st, 2015
Five new companies have been added to the list of Forex brokers this week: Valutrades — a British broker with proper regulation and very favorable trading conditions. The minimum account size is $100 and the maximum leverage is 1:400. Commodities and index trading is also available. The only platform is MetaTrader 4. Valutrades FXRANEX — a Belizean Forex company with cent, mini, and standard accounts. They only offer currency […]
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May 312015
Reverse Head-and-Shoulders on Daily Chart of EUR/CAD
The recently formed head-and-shoulders bottom pattern on the euro vs. loonie daily chart could be called a classic example of the reverse H&S if only its right shoulder were not so rough and spiky. The pattern is terminating a long-term downtrend that has started back in March of 2014. The left shoulder began to unfold on March 5 this year, and the head reached its lowest level on April 17. The lengths of both […]
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May 302015
Weekly Forex Technical Analysis (Jun 1 — Jun 5)
EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0679 1.0749 1.0869 1.0939 1.1059 1.1129 1.1250 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0761 1.0894 1.0952 1.1085 1.1142 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]
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