Blog – Page 83 – The Plot

December 11
2014

EUR/USD Drops as US Data Makes Dollar Stronger

EUR/USD went down today after three consecutive daily gains. The majority of US reports, including retail sales and unemployment claims data, were good. This allowed the dollar to outperform the euro. Retail sales rose 0.7% in November, exceeding the median forecast of 0.4% and the revised October’s increase of 0.5%. (Event A on the chart.) Initial jobless claims fell from 297k to 294k last week instead of rising to 299k as was predicted by analysts. […]

December 10
2014

EUR/USD Climbs as Traders Flock to Yen

EUR/USD rose today even as concerns about China’s economic growth made Forex market participants seek safe currencies. Speculators were flocking to the Japanese yen, making the US dollar underperform. Ð¡rude oil inventories increased by 1.5 million barrels and are above the upper limit of the average range for this time of year. This is compared to the predicted decline of 2.6 million and the previous week’s drop by 3.7 million. Total motor […]

December 9
2014

When Did You Last Trade Forex? Poll.

It looks like the Forex market has been offering a lot of excellent trading opportunities lately with many currency pair hitting multi-year record lows or highs. Part of this price action can be attributed to a rich diversity of the released macroeconomic reports across the world. Another part is definitely rooted in the commodity market volatility and important geopolitical conflicts. On the other hand, many traders could be discouraged to trade […]

December 6
2014

Weekly Forex Technical Analysis (Dec 8 — Dec 12)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.1966 1.2118 1.2201 1.2354 1.2437 1.2589 1.2672 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.2101 1.2167 1.2336 1.2402 1.2572 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

December 6
2014

Forex Brokers Update — December 6th, 2014

Added one new company to the list of Forex brokers this week: Fairbanks — an unregulated offshore ECN broker with MT4 and ActTrader platforms. The minimum account size is $1,000 with leverage limited at 1:100. Fairbanks Other changes to the list of brokers include: AForex, Alpari, FXOpen, Lionstone Investment Services, and RoboForex are now listed as regulated by The Financial Commission. IamFX no longer offers Russian, Chinese, Czech, Italian, and Slovenian […]

December 5
2014

Dollar Rallies After Huge NFP Figure

Today, EUR/USD sank to a new low in several years. The main reason for the drop was the release of US nonfarm payrolls. While forecasts were optimistic, even they did not predict such huge employment growth. The overwhelmingly positive employment data allowed the dollar to rally even though other reports were not particularly good. Nonfarm payrolls demonstrated huge growth by 321k in November, which was far above the consensus […]

December 3
2014

Data from USA Makes EUR/USD Drop to New Low

EUR/USD sank to a new multi-year low today as economic data from the United States continued to show growth of the economy in contrast to indicators from Europe. While US employment growth was not as big as some market participants have hoped for, it was still robust and beneficial to dollar’s performance. ADP employment growth was at 208k in November on a seasonally adjusted basis. While the actual value was not bad, staying […]

December 2
2014

Dollar Gains Against Majors

The US dollar gained against most its major peers including the euro. Better-than-expected macroeconomic data from the United States helped the greenback to log gains. Construction spending rose 1.1% in October following the 0.1% drop in September (revised from the 0.4% decline). The actual increase exceeded the median forecast of 0.6%. (Event A on the chart.) Yesterday, a report on ISM manufacturing PMI was released, demonstrating a decline from 59.0% in October to 58.7% in November. […]

November 30
2014

Ascending Triangle on GBP/JPY@ H4 Chart

This week will be another one with a rather strong trading idea at my disposal. The GBP/JPY ascending triangle may look slim, but it is a valid pattern, which was born following an uptrend. It has enough points of contact both with the upper horizontal border and the lower inclined one. The only problem I see is the fact that the formation is only one week long. The yellow lines […]

November 29
2014

Weekly Forex Technical Analysis (Dec 1 — Dec 5)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.2193 1.2277 1.2363 1.2447 1.2534 1.2617 1.2704 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.2278 1.2365 1.2448 1.2535 1.2618 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]