Forex Blog

EUR/USD was ranging between 1.3385 and 1.3435 levels undecided - to go for a correction or jump back to the bearish trend which is seen since the first week of May. Such a slow motion in EUR/USD Forex can continue for the whole week. Especially after today’s U.S. housing data showed completely no effect on the Forex market. Although, the numbers came out in neutral level compared to the experts’ expectations, but they showed a moderate decline compared to previous values.

RCG fxtrader doesn’t possess any significant advantages the contemporary Forex brokers try to possess or at least claim. It even has disadvantages that are too unpopular nowadays - no mini Forex (you can start only with a minimum $5,000), no Metatrader 4 support, no other payment options except for Wire Transfer, etc. But the significant part about this Forex broker is that it is founded by a financial company Rosenthal Collins Group, which starts its days from 1922 and, being a registered member of both CFTC and NFA, it offers a great reliability to its clients.

SNC Investments is a Metatrader Forex broker that allows deposits via Wire Transfer, checks and BPS (Broker Processing Service). They utilize a customized version of MT4 platform; though, it is fully compatible with Metatrader (so the expert advisors should work with it without any problems). You’ll need to deposit a minimum of $500 to start trading with SNC Investments. This broker is registered with CFTC and NFA, but, in my opinion, there is many other brokers which deserve more attention than this one :-).

Update: SNC Investments has been delisted from my site, since it’s no longer offering Forex brokerage services.

General trend: ranging.

EUR/USD today on Forex rallied high to 1.3380 level as the fundamental indicators from U.S. came below expectations. First, May Core CPI came at 0.1% level, whereas expected value was 0.2% (though, overall CPI was 0.1% higher than expected). Then, Industrial Production showed completely no increase in May which can be very for the U.S. GDP. Industrial Capacity Utilization was also lower than expected - 81.3% against 81.6%. And at last - Michigan University Consumer Sentiments Index (preliminary) decreased in May to 83.7, whereas experts expected 88.0. Such a bad day for the U.S. macroeconomics can be a sign to FOMC, which might start considering interest rates lowering.

MIG Investments is a Forex broker from Switzerland. It is one of the most legally clear broker for the serious traders. I say serious because the minimum account size is $2,000 with the Wire Transfer being the only billing option available. With MIG Investment you can use Metatrader 4 software and trade with their quite competitive spreads. One of the most remarkable thing about this Forex broker is that it shares some of its profits with the UNICEF organization, helping children all over the world. This is indeed a rare occasion that the rich help the poor in such aggressive and speculative industry as Forex trading.

Today, Forex was pretty calm for EUR/USD pair with the only spike to 1.3279. But this day was rich on the macroeconomic releases bot from Eurozone and U.S. Though, they were in the bounds of experts’ expectation. European CPI came out to be slightly lower than expected in month to month representation. U.S. jobless claims were one thousand lower than expected, but the previous number was revised towards a bit higher value. Producers Price Index in U.S. increased better than expected - 0.9% against 0.6%.

Crown Forex is a Swiss based Forex broker that supports Metatrader 4 trading software. Though, it greatly limits the use of MT4 expert advisors which almost kills one of the biggest advantages of Metatrader platform. To start trading with Crown Forex you’ll need to deposit a minimum of $300 which can only be transferred via Wire Transfer. But of course you can always try their demo accounts for free.

EUR/USD continues on its way down and now it is a trend which must be taken to consideration even for long-term Euro bulls. Correction which has seemed to be trying to return EUR/USD back to bullish trend on 04/06 and 05/06 stopped too soon releasing EUR/USD to even deeper lows. Today on Forex EUR/USD reached new low since March and it doesn’t seem to be stopping yet. Overall there are some good data from U.S. coming almost everyday. Today - Retail Sales came out to be more than twice as higher as expected - 1.4% against 0.6%, while oil and gas reserves remained on high levels.

Forex Club is a Forex broker that started its on-line business in 2000. It is currently based in New York and registered with National Futures Association. Forex Club doesn’t offer e-gold deposit option or Metatrader platform, but it has its own Forex trading platforms to offer and a very low account minimum - $10. It is a good starting Forex broker for those traders that can easily deposit/withdraw money via banks.