Blog – Page 74 – The Plot

March 21
2015

Forex Brokers Update — March 21st, 2015

Some important updates to the listed broker have been applied this week: RoboForex lowered spreads on all account types and added CFD instruments for trading. Vector Securities removed Spanish version of their website. FxNet is now regulated by BaFin and FCA (UK). No longer accepts AUD and CHF deposits, but started accepting deposits in Russian ruble. Added support for phone trading and segregated accounts. Increased the minimum account […]

March 18
2015

Euro Jumps After FOMC Drops ‘Patience’ from Statement

The Federal Open Market Committee dropped the mention of patience in its statement as was expected by majority of market participants, yet EUR/USD jumped after the announcement that should have been supportive for the dollar. There can be several explanations for such performance. One of them is that the event has been priced in. Another one is that the forecast for growth and inflation got a negative revision. US crude oil inventories […]

March 16
2015

What Devices Do You Use for Trading?

Times when the mainstream Forex trading software could only run on Windows computers while only few narrowly specialized platforms existed for anything else are long gone. Nowadays, currency traders live a world where they can comfortably trade from almost any hardware platform they wish to. Such popular trading platform as MetaTrader can be run via compatibility layers on non-Windows PCs and can […]

March 16
2015

Dollar Retreats Ahead of Fed Meeting

The US dollar was broadly weaker against other currencies, including the euro, today as Forex traders were cautious ahead of the Federal Reserve’s policy meeting that will start tomorrow. EUR/USD retreated from its daily highs, forming a double-top pattern on the 15-minute chart, but remains above the opening level as of now. NY Empire State Index demonstrated a drop from 7.8 in February to 6.9 in March versus the predicted […]

March 15
2015

Forex Brokers Update — March 15th, 2015

One new Forex broker has been added to EarnForex.com this week: ThreeTrades — an offshore broker that advertises as a pure no dealing desk service with a unique proprietary trading platform. The minimum account size is just $1. It offers multiple trading instruments and up to 1:200 leverage on Forex. ThreeTrades Some updates have been applied to the already listed brokers: AForex rebranded into AMarkets. IronFX added […]

March 15
2015

Will NZD/USD Terminate Downtrend Upon This Double Bottom?

NZD/USD is trending downwards since July of 2014. The currency pair was moving in strong waves until it had met its support near 0.7170 level on February 3 this year. Then, it has failed to set up a new lower low in its attempted fall on March 11. The resulting chart pattern is an almost classic version of double bottom, which is a strong bullish signal. The only […]

March 14
2015

Weekly Forex Technical Analysis (Mar 16 — Mar 20)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 0.9889 1.0175 1.0333 1.0620 1.0777 1.1064 1.1222 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0143 1.0269 1.0588 1.0713 1.1032 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

March 13
2015

Dollar Gains on Euro, Ignoring Negative Reports

EUR/USD retreated back to its previous lows following yesterday’s rally. The dollar managed to gain on the euro even though Friday’s economic data from the United States was far from good. PPI fell 0.5% in February after dropping 0.8% in January. Economists have hoped for a 0.2% increase. (Event A on the chart.) Preliminary Michigan Sentiment Index dropped from 95.4 to 91.2 in March instead of rising 95.6 as analysts were promising. […]

March 12
2015

EUR/USD Finds Respite After Poor US Data

EUR/USD recovered today following its earlier drop to a new multi-year low. One of the reasons for the bounce is today’s US macroeconomic data that was not good at all. Still, the majority of market analysts are very bearish on the euro, thinking that the current rally is just a short-term bounce in the bear market. Seasonally adjusted retail sales declined 0.6% in February instead of rising 0.3% as was predicted by analysts. The indicator […]

March 11
2015

EUR/USD Plunges to New Low

EUR/USD tumbled to trade near the lowest level since March 2003 during the current session as speculations about a potential interest rate hike from the Federal Reserve continue to drive the dollar higher against its rivals. EUR/USD has declined 2.9% so far this week. Crude oil inventories increased by 4.5 million barrels last week, matching expectations exactly and reaching a new record. Total motor gasoline inventories […]