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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

Will EUR/USD Reach 1.5000 in April?

April 11th, 2011

EUR/USD is currently trading inside 1.4417–1.4486 range. It hasn’t been above 1.5000 since November 2009. At the same time, the currency pair has managed to gain more than 21% in 10 months. Many Forex experts consider EUR/USD to be in a bullish trend. Elliott Wave analysis of the weekly chart …

ECN MetaTrader Broker with PayPal? Loyal Forex.

April 10th, 2011

Loyal Forex description was finally added to the list of Forex brokers on the site today. This broker is most notable for its quite attractive set of features — it’s a MetaTrader broker that offers ECN execution (with very low spread and a moderate commission), while, at the same time, accepting deposits and withdrawals …

Forex Technical Analysis for Week 04/11—04/15

April 9th, 2011

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3924 1.4038 1.4260 1.4374 1.4596 1.4710 1.4932
GBP/USD 1.5836 1.5964 1.6172 1.6300 1.6508 1.6636 1.6844
USD/JPY 82.21 83.02 83.88 84.69 85.55 86.36

My Dog Ate My Forex — Free E-Book

April 8th, 2011

The newest addition to the beginner books on the site is a rather short free Forex e-book by Doug Breiten called “My Dog Ate My Forex”. Despite its weird name, it’s quite helpful. The title references the problem of many traders — losing their money to a Forex broker, “feeding” them with trader losses. …

EUR/USD Recovers, Still Remains Week

April 7th, 2011

EUR/USD slumped earlier this trading session and now gradually recovers. The euro was boosted as the European Central Bank raised its target lending rate by 25 basis points to 1.25% (Event A on the chart.), but the impact of the rates hike was muted as Portugal joined Greece and Ireland in seeking a bailout. EUR/USD trades …

EUR/USD Up on Anticipation of Higher Interest Rates

April 6th, 2011

EUR/USD rallied today on forecast that the European Central Bank will raise its minimum bid rate from 1% to 1.25% tomorrow. There is not much macroeconomic data from the US this week. The ISM services report yesterday was rather disappointing. EUR/USD currently trades near 1.4328, …

Unversal FX — Swiss Forex Broker with PAMM

April 5th, 2011

Unversal FX (latest addition to the broker list on EarnForex.com) is based in Switzerland and is also a member of ARIF. Like some other Swiss Forex brokers, the entry conditions are rather restricting — minimum account size is $2,000 and there’s no micro-trading. Universal FX also requires their …

A Dealing Center Based in Seychelles — Profiforex

April 4th, 2011

Seychelles seems to be one of those nice offshore zones for the Forex brokers — no real regulation and minimal taxes stimulate appearance of the companies registered there. Profiforex is one of such brokers. It’s a generic MetaTrader broker with features intrinsic to such similar offshore brokers — low minimum account size …

Top Forex Currencies Infographics #3

April 3rd, 2011

The final piece of Forex infographics that is presented to you by EarnForex is the visualized statistics of the currency and currency pair popularity in Forex trading. Although London still hosts the largest volume of daily Forex transactions, the Great Britain pound is only 4th by popularity, the same as GBP/USD among the currency …

Forex Technical Analysis for Week 04/04—04/08

April 2nd, 2011

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3864 1.3942 1.4088 1.4166 1.4312 1.4390 1.4536
GBP/USD 1.5768 1.5852 1.5981 1.6065 1.6194 1.6278 1.6407
USD/JPY 78.57 79.94 81.99 83.36 85.41 86.78
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