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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 January, 2009

Advanced Markets — Another NFA Forex Broker

January 21st, 2009

Advanced Markets — the new Forex broker added to my site today — doesn’t possess many special features. It’s NFA registered U.S. broker with mini-trading available and the minimum account size at $2,000. Advanced Markets is present on-line since 2006. The only methods to fund the trading account …

ATG (Aaron Trading) — ECN Multi-Platform Broker

January 19th, 2009

ATG — the latest addition to the list of the Forex brokers featured on my site — is a multi-platform broker that aims on the professional and even institutional traders. The professional accounts start from $50,000, while the minimum for institutional trading is $250,000. Such high funds requirements mean …

FX-PRO Forex Broker — Not to Be Confused with FxPro

January 18th, 2009

The newest broker on my site today is FX-PRO — another Jordanian company with the Muslim-friendly trading conditions and the MetaTrader 4 Forex platform. You shouldn’t confuse this broker with FxPro (former NorthFinance and WestCapFX). FX-PRO went on-line in 2002 and thus is much older than FxPro

Forex Technical Analysis for 01/19—01/23 Week

January 17th, 2009

EUR/USD trend: hold.
GBP/USD trend: hold.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.2605 1.2815 1.3041 1.3251 1.3477 1.3687 1.3913
GBP/USD 1.3786 1.4128

EUR/USD Up on Negative CPI, Industrial Production Drop

January 16th, 2009

EUR/USD rose from its monthly low today — for the first time this week — after the U.S. reports on CPI and industrial production failed to meet the traders’ extremely pessimistic expectations. The better outcome for the U.S. economy means a better outcome for the …

EUR/USD Down Despite ECB Decision and U.S. Jobless Report

January 15th, 2009

EUR/USD traded near its open price for the first half of the day today but after the ECB decision to cut the rate by only 50 basis points — from 2.5% to 2% and saying that it’s not going to go lower during the next meeting, the euro gained momentum …

EUR/USD Little Lower after High Intraday Volatility

January 14th, 2009

The plethora of the macroeconomic statistics that was out in the U.S. today moved EUR/USD up and down with a great strength during the Forex trading session. Eventually, despite the bad reading in almost all reports, the dollar took the upper hand and is now leading …

EUR/USD Falls for 3rd Day After Budget and Trade Deficit Reports

January 13th, 2009

EUR/USD continued to fall for the third daily trading session today. It reached the lowest level since December 11 after reports on both budget deficit and trade balance deficit were released in U.S. today. Now EUR/USD is trading at 1.3194.

Trade balance deficit decreased from $56.7 billion (revised …

Forex Technical Analysis for 01/12—01/16 Week

January 10th, 2009

EUR/USD trend: sell.
GBP/USD trend: hold.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.2554 1.2933 1.3203 1.3582 1.3852 1.4231 1.4501
GBP/USD 1.3664 1.4047

EUR/USD Falls as Poor Non-Farm Payrolls Report Suggests Recession is Strong

January 9th, 2009

EUR/USD declined today after two days of growth on the Forex market as the poor fundamental reports from the United States suggest a further slowdown of the economy and that the global recession is still active. EUR/USD is currently trading near 1.3517.

Nonfarm payrolls fell by 524k in December — …

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