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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 November, 2011

EUR/USD Doesn’t Know Where to Go

November 17th, 2011

EUR/USD was rather volatile today. Initially the currency pair slid as yield on French and Spanish bonds jumped. Later French borrowing costs declined, pushing the euro higher. Currently, EUR/USD remains near its opening level, but is showing a downward pattern.

Housing starts were at a seasonally adjusted annual …

EUR/USD Declines Further, Loses Downward Momentum

November 16th, 2011

EUR/USD extended its downfall today as yield on sovereign bonds of the European Union nations continued to rise. The currency pair is currently rising and has potential to erase its losses. The data from the USA was again good with the exception of the inflation that unexpectedly declined.

CPI decreased 0.1% in October on a seasonally …

EUR/USD Down as Market Sentiment Remains Unfavorable

November 15th, 2011

EUR/USD was down today as pessimism and doubts about ability of the European Union to resolve the debt crisis plagued traders. The news from the US, on the other hand, were largely positive, excluding the falling PPI.

PPI edged down 0.3% in October (seasonally adjusted) after rising 0.8% in September, while median forecast …

STP, NDD, ECN — WTF?!

November 15th, 2011

Even experienced traders often get confused with various Forex terms. STP, NDD and ECN are very important acronyms and are popular in brokers’ lexicon. The term “market maker”, in spite of not being an acronym, is closely related to those three and is used to describe Forex brokers. Unfortunately, the definitions …

Being a Trader Is Profitable, Especially If You Work with IAFT

November 14th, 2011

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Today it is hard to surprise anybody with the profession of a trader. Every day trading in foreign exchange attracts more and more people who wish to earn …

Forex Technical Analysis for Week 11/14—11/18

November 12th, 2011

Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3160 1.3321 1.3535 1.3696 1.3910 1.4071 1.4285
GBP/USD 1.5651 1.5759 1.5913 1.6021 1.6175 1.6283 1.6437
USD/JPY 75.54 76.29 76.69 77.44 77.84 78.59

EUR/USD Climbs, Fundamentals Still Point to Downside

November 10th, 2011

EUR/USD rose today after Standard & Poor’s confirmed France’s top AAA credit rating, following the message about a downgrade of the rating that was sent because of a technical error. Fundamentals remained negative for the euro, though. Yield on French 10-year bonds surged, adding to concerns about the European crisis. The data …

EUR/USD Sinks on Political Turmoil in Greece & Italy

November 9th, 2011

EUR/USD slumped today as Greece struggles to form a new (temporary) government for the third day, while Italy will likely also lose leadership and nobody can guarantee that the nation will avoid problems with forming a new government. The fundamental reports were largely positive for the dollar, driving the currency pair further …

Flexible VPS Hosting with Severs in Germany — Host1Plus

November 9th, 2011

Today, another Forex VPS company was added to the list on my site. It’s Host1Plus — a company working since 2008 (and offering its services to the general public since 2009). It doesn’t specialize in VPS for MetaTrader, but it can be used successfully for Forex trading. The price for the VPS ranges from …

Detect Pin-Bar Patterns with MetaTrader

November 7th, 2011

During my searches, I’ve encountered several MetaTrader indicators capable of detecting Pinbars on the chart. Some of them can be found here: http://www.earnforex.com/forum/f12/random-indicators-8052/ and here: http://www.earnforex.com/forum/f12/pinbar-indicator-8377/. Unfortunately, they all have disadvantages — lack of customization parameters and even outright detection bugs. That’s why I’ve decided to create my own Pinbar …

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