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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 August, 2011

Forex Technical Analysis for Week 08/15—08/19

August 13th, 2011

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3764 1.3934 1.4089 1.4259 1.4414 1.4584 1.4739
GBP/USD 1.5734 1.5922 1.6100 1.6288 1.6466 1.6654 1.6832
USD/JPY 73.67 74.98 75.83 77.14 77.99 79.30

Mixed US Fundamentals Leave EUR/USD Without Clear Trend

August 12th, 2011

EUR/USD was moving today without any particular pattern. It was falling at the start of the trading session, reversed its downward trend only to fall again. Currently the currency pair slowly crawls back to the upside. The fundamental reports were also confusing. Retail sales were better than expected, but …

EUR/USD Slips Down with Unemployment Claims

August 11th, 2011

EUR/USD was rising from the beginning of today’s trading session, but about 8:45 GMT it started decline that continues to the present time. The currency pair has got a small boost from the report that showed an increase of the US trade balance deficit, but the rally failed almost as soon as it …

EUR/USD Weakens, Strives Higher as US Budget Deficit Grows

August 10th, 2011

EUR/USD dropped today as markets remain in risk aversion mode and concerns about Europe’s future persist. The currency pair attempted to rally after the report showed that the US budget deficit widened last month, even though it was below expected value. It’s hard to say at present how sustainable …

FOMC May Keep Zero Rates for 2 Years, EUR/USD Up

August 9th, 2011

EUR/USD currency pair was slowly declining today, but jumped after the Federal Open Market Committee maintained the interest rates near zero and suggested that it may keep the exceptionally low rates for the next two years. The extremely dovish statement wasn’t very helpful for the euro, though, as it erased …

RTATC2011 — Day 7 — Reboot Safety & Trading Conditions

August 7th, 2011

Last time, I’ve modified (with the help of a fellow Japanese MQL coder) the standard Trade.mqh library to use the order and position size limits set in the ATC 2011 rules. I’ve also promised to discuss the process of dealing with the harsh trading conditions of the championship in the next journal issue. But, since it …

Forex Technical Analysis for Week 08/08—08/12

August 6th, 2011

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3670 1.3862 1.4068 1.4261 1.4467 1.4659 1.4865
GBP/USD 1.5998 1.6111 1.6249 1.6362 1.6500 1.6613 1.6751
USD/JPY 72.41 74.35 76.35 78.29 80.30 82.24

EUR/USD Up on Positive Employment Situation, Disregards Credit Data

August 5th, 2011

The dollar fell against the euro today, as the positive employment report from the US decreased the risk-aversion among the traders, and pulled funds away from the ”safe haven” dollar.

Nonfarm payrolls report in the US showed a 117k gain in July, following 46k gain in May (revised positively from 18k). The median forecast for this …

UK Broker with $10K Minimum Account Size — TradeX Capital

August 4th, 2011

Please welcome our latest addition to the list of Forex brokers — TradeX Capital. They specialize in their own trading platform — TradeX Pro and TradeX Web, but also offer the traditional MetaTrader 4 choice. The broker is based in the United Kingdom and is regulated by the FSA. It offers …

EUR/USD Fluctuates on Mixed Reports

August 3rd, 2011

The euro traded mixed against the US dollar after today’s macroeconomic reports, gaining considerably before the European trading session started. Noteworthy is the fact that the EUR/USD reacted positively to the positive US reports and vice versa for the negative ones today.

ADP employment report showed a seasonally adjusted growth of the payrolls …

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