Blog – Page 78 – The Plot

January 31
2015

Weekly Forex Technical Analysis (Feb 2 — Feb 6)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0788 1.0943 1.1114 1.1268 1.1439 1.1593 1.1764 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0947 1.1122 1.1272 1.1447 1.1597 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

January 31
2015

Forex Brokers Update — January 31st, 2015

Two new brokers have been added since the last update: FXFINPRO Capital — a regulated ECN broker from Cyprus with MetaTrader 4 platform, $500 minimum account size and nice assortment of trading instruments. In addition to MT4 platform, this company also offers Trader Workstation, ProTrader, and JForex. FXFINPRO Capital SaudiQuote — a company registered in New Zealand with focus on Islamic traders. It offers two account types: […]

January 30
2015

EUR/USD Stable After US GDP Disappoints

EUR/USD was flat today as US gross domestic product expanded last quarter less than was expected by market participants. The euro was not able to gain on the dollar after the disappointing report as data from Europe itself was rather mixed. US GDP grew at the annual rate of 2.6% in Q4 2014, according to the advance (the first) estimate. The growth trailed analysts’ predictions of 3.0% and was below the previous quarter’s rate […]

January 29
2015

EUR/USD Attempts to Recover After Losses

EUR/USD attempted to recover after the previous losses but remains below yesterday’s opening level as of now. Still, the currency managed to stay above today’s opening even as US jobless claims fell much more than was expected. The possible reason for the strength of EUR/USD is the terrible US housing report and yesterday’s policy statement of the Federal Reserve that was a bit more dovish that dollar bulls have hoped for. […]

January 28
2015

Going Long USD/RUB Again

I did not advertise my previous USD/RUB position because my original intention was just to hedge some of my currency risks. It resulted in the most successful trade in my Forex career. This time, I have decided to re-enter the long based on a number of factors and with double purpose — profit and hedging. Following its December 15 collapse, the Russian currency has managed to recover a lot of its losses during the remaining days of 2014. However, it […]

January 28
2015

EUR/USD Retains Weakness After FOMC

EUR/USD trades below the opening level right now. The currency pair attempted to bounce after the Federal Open Market Committee released its policy statement, reiterating words about patience in timing for raising interest rates. Yet the euro fell back quickly, and it looks like the shared 19-nation currency is going to continue moving down. Crude oil inventories increased by 8.9 million barrels last week. The increase was […]

January 27
2015

EUR/USD Jumps on Mixed US Data as Traders Wait for Fed

EUR/USD climbed 1.1 percent today as mixed US data weakened the dollar, while the euro maintained its strength. The euro was firm even after the anti-austerity Syriza party won the elections in Greece on the weekend. Ahead of the voting, market analysts considered such outcome detrimental to the euro but changed their thinking after the elections. The Federal Reserve will conduct monetary policy meeting tomorrow, and traders wait for the Fed decision that […]

January 26
2015

New Swiss Franc Carry Trade?

My last carry trade did end quite well for me, though the Swiss National Bank has done a lot to end it poorly for other traders. Looking at the mayhem that ensued following the EUR/CHF floor removal, I thought that it would probably be a good idea to use the situation to my favor and to enter some new carry trade opportunity. It did not take me long to get focused on this currency […]

January 24
2015

Weekly Forex Technical Analysis (Jan 26 — Jan 30)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0421 1.0768 1.0985 1.1332 1.1550 1.1897 1.2114 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0735 1.0921 1.1300 1.1485 1.1864 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

January 24
2015

Forex Brokers Update — January 24th, 2015

One new company has been listed on EarnForex.com this week: Tickmill — an offshore company that has took over the retail clients of the Armada Markets broker. The latter has switched to institutional trading only. Tickmill offers MT4 accounts starting with $2 and supports leverage up to 1:500 on currencies. Tickmill Some other brokers have been updated during the week: NordFX no longer has office in Egypt. FinFX […]