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Forex Blog
My Forex experience and some Forex related information that might be useful to other traders

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Archive of Forex blog posts for May, 2007

NorthFinance Adds New Currency Pairs

May 20th, 2007

Northfinace Forex broker now allows trading a few more minor currency pairs:

  • AUDDKK — Australian Dollar vs Danish Krone
  • AUDPLN — Australian Dollar vs Polish Zloty
  • CHFCAD — Swiss Franc vs Canadian Dollar
  • EURHKD — Euro vs Hong Kong Dollar
  • EURLVL — Euro vs Latvian Lats

EUR/USD Technical Analysis for 5/21—5/25

May 20th, 2007

General trend: bearish.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3303___1.3384___1.3446___1.3527__1.3589___1.3670___1.3732

Woodie’s pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3379___1.3437___1.3522___1.3580__1.3665

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3429___1.3469___1.3482___1.3495__1.3521___1.3534___1.3547___1.3587

Tom DeMark’s pivot points:

Forex Broker with a Wrong Name :-)

May 17th, 2007

A new broker was added to the institutional Forex brokers list today — ECN broker. It doesn’t match its name (at least for Forex services), because it is a market maker broker, not an Electronic Communication Network broker. You’ll still have to pay your spreads (it offers

CPI from US to Support Dollar?

May 15th, 2007

Today the April U.S. CPI data cam out a bit higher than the market expected — 0.6% against 0.5%. A higher CPI data can mean a fast increase of the U.S. interest rate by the Fed, which in its turn gives USD a support to rally higher against other currencies. But all in all …

Serious Take on the Market Behavior

May 13th, 2007

Today I’ve added a e-book that describes the influence of the Forex traders’ behavior, beliefs and psychology on the Forex market itself. The results of the study which is performed in this book indicate that:

  1. About 30% of Forex traders use mostly technical analysis.
  2. Macroeconimic news is reacted very fast to.
  3. Importance

EUR/USD Technical Analysis for 5/14—5/18

May 12th, 2007

General trend: slightly bearish or ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3282___1.3372___1.3447___1.3537__1.3612___1.3702___1.3777

Woodie’s pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3368___1.3441___1.3533___1.3606__1.3698

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3432___1.3478___1.3493___1.3508__1.3538___1.3553___1.3568___1.3614

Tom DeMark’s …

BunnyGirl Forex Trading Strategy E-book

May 10th, 2007

BunnyGirl — is one of the most popular technical Forex strategies. Although it may look simple — a system utilizing WMA cross, it has a lot of additional conditions and tricks that are necessary for a trader to succeed with this strategy. You can download a quite short e-book describing BunnyGirl strategy

EUR/USD Reaches 1 Month Low

May 10th, 2007

EUR/USD reached its one month minimum level today during a fast dollar rally that has been influenced strongly by the yesterday’s FOMC statements. Is it a bull trend break, or just a small correction before the new heights? The answer will lie in the next 2 weeks — the next one can …

EUR/USD Ranging Before FOMC Meeting Today

May 9th, 2007

After retreating back down to under 1.3550 yesterday, EUR/USD is now slightly ranging while waiting for the FOMC statement (today, 19:15 GMT) — one of the most important and anticipated fundamental events in the Forex trading community. There is almost no doubt that the interest rates will be left …

EFX Group and Hotspot FX ECN Forex Brokers

May 8th, 2007

I’ve added another two ECN Forex brokers which might be interesting for traders focused on scalping strategies:

  • EFX Group — good for mini Forex trading, since they allow accounts from $400.
  • Hotspot FX — big ECN broker for big Forex traders, no mini Forex,

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