Blog – Page 7 – The Plot

June 8
2018

EUR/USD Drops on Eurozone Data, Trims Losses Later

EUR/USD fell today on poor macroeconomic releases in the eurozone and concerns about potential outcome of the upcoming Group of Seven meeting, though the currency pair has managed to reduce its losses by now. As for US releases, the data was not impressive either. Wholesale inventories rose 0.1% in April. Experts had expected no change, the same as in March. (Event A on the chart.) Yesterday, a couple of reports were released (not shown on the chart): Seasonally adjusted […]

June 6
2018

EUR/USD Rallies After Hawkish Comments from ECB Officials

EUR/USD rallied today after European Central Bank chief economist Peter Praet said that the next week’s policy meeting will be a “judgment” call for the quantitative easing program. Some experts interpreted the words as a sign that the ECB will decide next week the date of a QE end sometime later this year. That allowed the currency pair to gain despite positive US economic data. Nonfarm productivity rose […]

June 5
2018

EUR/USD Slips After US Services Data

EUR/USD fell today, changing its direction for the third day in a row. Some market analysts predicted that the currency pair will be trading in a range in a near future as the most important fundamentals, like geopolitical risks and monetary policy, are already priced in. Meanwhile, both reports about the US service sector released today beat expectations, driving the EUR/USD pair further down, though currently it is attempting […]

June 4
2018

[Poll] Best Winning Streak

Talking about the worst streak of Forex losses can be painful, but we learn important lessons from them. Although diverting too much of your attention to the biggest winning streaks might seem unnecessary. Additionally, focusing too much on your winning streaks can impair your judgement and induce excessive risk-taking. Similarly to the losing streaks, winning streaks can be measured using three different techniques: by number, […]

June 2
2018

Weekly Forex Technical Analysis (Jun 4 — Jun 8)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.1318 1.1414 1.1537 1.1633 1.1755 1.1851 1.1974 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.1421 1.1550 1.1639 1.1769 1.1858 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

June 1
2018

EUR/USD Rallies as Employment Data Exceeds Expectations

EUR/USD rallied today even though trade wars between the United States and their trading partners have started. Yet macroeconomic data in the United States overshadowed other news. Almost all indicators released today were very solid. The employment report drew the most attention from traders as basically all of its components were better than expected. Nonfarm payrolls rose by 223k in May, demonstrating a much faster rate […]

May 31
2018

EUR/USD Volatile amid Geopolitical Uncertainty

EUR/USD was rather volatile today, attempting to rally intraday but trading near opening level now, as traders were digesting news about political turmoil in Europe and reports that the United States will implement the postponed tariffs on goods from its closest allies as the exemption from the duties will expire tonight. Most US macroeconomic reports released over the trading session were good, with the exception of pending home […]

May 30
2018

EUR/USD Recovers As Political Concerns Ease

EUR/USD was falling at the start of the Wednesday’s trading session, but managed to halt the decline, and is now rallying. The reason for the rally was the fact that fears associated with the political turmoil in Italy waned. Instead, there were hopes for a new government that will not be biased against the euro. Meanwhile, macroeconomic reports released in the United States over the trading session missed forecasts, adding to the upward momentum of the currency pair. […]

May 29
2018

EUR/USD Falls to New Lows amid Europe’s Political Turmoil

EUR/USD fell today, extending yesterday’s decline and touching new lows for the year, amid ongoing political crisis in Europe. The decent macroeconomic reports released in the United States over the current trading session added to the downward momentum of the currency pair. S&P/Case-Shiller home price index rose 6.8% in March, year-on-year, the same as in February. Analysts had expected a slowdown to 6.5%. Month-over-month, the index was up as much as 1%. (Event A on the chart.) Consumer confidence […]

May 28
2018

New Market Profile Indicator — Focus on Stability and Performance

Upon receiving quite a lot of feedback and suggestions on further improvement of the Market Profile indicator, I have finally managed to prepare the new version — 1.08. The latest build is now more robust than ever: Smart color calculation prevents “overflows”, making the color of the profile’s blocks change smoothly and gradually. Moreover, it is now possible to use a single-color profile. A PointMultiplier parameter lets you increase the size of the profile’s building blocks […]