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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, 2010

Russian Forex Broker On-Line Since 1998

May 7th, 2010

One of the oldest on-line Forex brokers has been listed on EarnForex.com today — Akmos Trade. It’s quite popular in Russia but is almost unknown outside it, despite the fact that their currency rate informers were widely used even on English websites several years ago. They …

Nonfarm Business Supports Greenback vs. Euro

May 6th, 2010

EUR/USD extended its slump today for the fourth consecutive day. The report nonfarm business sector labor productivity increased, just at slower pace, supported the U.S. currency, while the euro was hurt by the news that the protests in Greece caused fatal incident. On the other hand, the increasing number of the jobless claims makes us …

EUR/USD Continues Its Decline

May 5th, 2010

EUR/USD continues to experience decline amid the Greece’s crisis, while U.S. economy shows stable growth. Improved ADP unemployment rate signals about the increasing economic activities. And ISM PMI index shows steadily improving market conditions. EUR/USD currently trades near 1.2850.

ADP unemployment rate showed an increase

Another Cypriot Broker with Strange Conditions

May 5th, 2010

bforex is a newest addition to the list of Forex brokers on EarnForex.com. It happens so that it’s also a Cypriot broker, like the one that was added yesterday. Cyprus looks like a popular destination for the Forex firms. This one offers trading via MetaTrader but limits its use …

Cypriot MT4 Forex Broker — TFI FX

May 4th, 2010

TFI FX is a rather old Cypriot Forex broker with a European regulation. Its has been listed on EarnForex.com today (mainly as a MetaTrader broker). It’s available on-line since 2006 and offers quite moderate trading conditions, including 3-pip spreads on EUR/USD, $1,000 minimum account size and the requirement to send …

EUR/USD Falls on Signs of Strong U.S. Economy

May 4th, 2010

EUR/USD was steadily declining today and the news, signaling about the widening economic recovery in the U.S., will likely support this trend. Factory orders were increasing for the last year, showing the strong economic expansion. The rising number of pending home sales also signaled about favorable economic environment, supporting the strength …

Dollar Up vs. Euro Following Good Fundamentals

May 3rd, 2010

EUR/USD declined today as the data shows the improvements in the U.S. economy, while the Europe is still troubled with the budget deficit problem. The increase of the personal income and the growth in the manufacturing sector show the robust economic recovery, while the huge jump in construction spending further supports the optimistic outlook for the U.S. economy. EUR/USD is …

Manual or Automated Forex Trading?

May 3rd, 2010

There are two main methods of trading in Forex (and in any other financial market too) — manual and automated. When you trade manually you open and close market orders yourself. Of course, you can still use the pending orders, stop-loss, take-profit and trailing stop orders, but the main trading decisions …

Random Expert Advisor for MT5

May 2nd, 2010

My experimental randomly trading expert advisor myRandom is now available for download to be used in the MetaTrader 5 platform. It’s the 4th EA that was converted by me from MT4 to MT5 and it’s slightly different from its initial version. The main difference came from the fact that the MT4 version …

Forex Technical Analysis for Week 05/03—5/07

May 1st, 2010

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

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.2832 1.2973 1.3133 1.3274 1.3435 1.3576 1.3736
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