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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 April, 2011

EUR/USD Rises as US Manufacturing Growth Slows

April 21st, 2011

EUR/USD jumped today, weakened later and now attempts to regain its strength. The fundamentals supported this move as the growth of the US manufacturing sector slowed significantly and the unemployment claims decreased less than forecast. The leading index was still positive, though. EUR/USD trades at about 1.4568 now after rising earlier …

EUR/USD Goes Higher, Refusing to Look at Fundamentals

April 20th, 2011

EUR/USD erased previous losses and advanced to the highest level since January 2010 today as investors continue to bet that the European Central Bank will raise its key lending rate on the next policy meeting. The fundamentals remain unfavorable for the euro as the producer prices in Germany, the healthiest economy in the European Union, rose …

Panamanian Forex Broker as NZ Offshore — FXOptimax

April 19th, 2011

FXOptimax (the latest addition to EarnForex’ list of Forex brokers) is a company headquartered in Panama but registered as a New Zealand offshore. It’s a MetaTrader broker that also offers a trading platform for Blackberry phones. The entry conditions are rather easy — only $10 minimum account size and up to 1:400 leverage, …

Another Multi-Market Forex Broker from Cyprus — AFX Capital

April 18th, 2011

Today, I am happy to announce that another Forex broker was added to the list of brokers on EarnForex.com. It’s AFX Capital, which operates from Cyprus and is regulated by the local CySEC authority. It’s not a very notable Forex trading company — the set of features is very common among the Cypriot …

Canadian Forex Broker with Focus on ECN — Ajax Financial

April 17th, 2011

Description of Ajax Financial broker was added to the list on the site today. It’s a Canadian company that fully complies with the country’s Forex regulation requirements and offers professional trading services for its online customers. This broker offers two platforms for trading — Currenex and Ajax Avalon FXPro (its own …

Forex Technical Analysis for Week 04/18—04/22

April 16th, 2011

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.4200 1.4282 1.4355 1.4437 1.4510 1.4592 1.4665
GBP/USD 1.6025 1.6126 1.6224 1.6325 1.6423 1.6524 1.6622
USD/JPY 80.12 81.54 82.32 83.74 84.52 85.94

EUR/USD Falls as Moody’s Downgrades Ireland’s Credit Rating

April 15th, 2011

EUR/USD was tumbling today, but now has found support and tries to decide where to go next. The euro was hurt as Moody’s Investor Service cut Ireland’s credit rating and kept the outlook on negative. Today’s reports from the US showed robust growth of the industrial output and the manufacturing, as well as the unexpectedly strong …

EUR/USD Recovers as Jobless Claims Climbs, PPI Growth Slows

April 14th, 2011

EUR/USD fell today as Greece and other indebted nations of European Union may be required to restructure their debt, but the currency pair currently recovers as the US economic data was worse than expected. The jobless claims unexpectedly rose last week, while PPI grew less than predicted. EUR/USD …

EUR/USD Trades Sideways, Positive US Data Pushes Lower

April 13th, 2011

EUR/USD traded flat today without any major moves to either side, but the currency tends to weaken at present time. The reports today showed that the US economic recovery persists. EUR/USD currently trades at 1.4480.

Retail sales increased 0.4% in March, following the increase by 1.1% in February. Median forecast promised …

EUR/USD Rises as US Trade Balance Deficit Exceeds Forecasts

April 12th, 2011

EUR/USD rose today, following yesterday drop. The currency pair weakened somewhat a few hours ago, but now regained its strength. The deficit of both trade balance and federal balance decreased, even though it was still above forecasts. EUR/USD currently trades at about 1.4487.

US trade balance

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