Loading...

Follow Earn Forex - Forex Trading Information, Learn A.. on Feedspot

Continue with Google
Continue with Facebook
or

Valid

EUR/USD demonstrated significant volatility today after a big number of economic reports were released both in the United States and the eurozone. The dollar and the euro were mixed as traders were trying to digest the data. Currently, the EUR/USD pair trades slightly below the opening level after attempting to rally earlier.

US durable goods orders rose 1.2% in December, missing the analysts’ average forecast of a 1.6% increase. The orders were up 0.7% in November. (Event A on the chart.)

Philadelphia Fed manufacturing index dropped from 17.0 in January to -4.1 in February. The consensus forecast promised a far smaller drop to 14.1. (Event A on the chart.)

Initial jobless claims dropped from 239k to 216k last week, below the forecast level of 228k. (Event A on the chart.)

Markit released flash readings for US Purchasing Managers’ Indices in February. Markit manufacturing PMI dropped to 53.7 this month from 54.9 in January, whereas specialists had predicted it to stay unchanged. At the same time, Markit services PMI jumped to 56.2 from 54.2, while the median forecasts had promised just a small increase to 54.4. (Event B on the chart.)

Leading indicators fell 0.1% in January after showing no change in December, while economists had expected an increase by 0.1%. (Event C on the chart.)

Existing home sales fell to the seasonally adjusted annual rate of 4.94 million in January from 5.00 million in December. Forecasts had promised the indicator to stay about unchanged. (Event C on the chart.)

Crude oil inventories increased by 3.7 million barrels last week after rising by 3.6 million barrels the week before. The average forecast had promised a smaller increase by 2.9 million barrels. The stockpiles remained above the five-year average for this time of year. Total motor gasoline inventories dropped by 1.5 million barrels but also stayed above the five-year average. (Event D on the chart.)

Yesterday, FOMC released minutes of its January monetary policy meeting, showing that some policy makers were still believing that at least one interest rate may still be appropriate this year (not shown on the chart):

Several other participants indicated that, if the economy evolved as they expected, they would view it as appropriate to raise the target range for the federal funds rate later this year.

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

One new broker has been added to the list of companies on EarnForex.com during the last week:

CapitalXP — an unregulated broker based in an offshore jurisdiction, it offers MT4 trading with $250 minimum account size and 1:100 maximum leverage.

Updates to the existing brokers included:

If you have any questions or comments regarding any of the latest Forex brokers updates, please feel free to reply using the form below. Posted on Forex blog.

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
EUR/USD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1128 1.1181 1.1236 1.1288 1.1343 1.1396 1.1451

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1182 1.1237 1.1289 1.1344 1.1396

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
1.1231 1.1261 1.1271 1.1281 1.1300 1.1310 1.1320 1.1350

Tom Demark’s pivot points
Support Resistance
1.1208 1.1316

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1.1234 1.1259 1.1275 1.1287 1.1300 1.1341

GBP/USD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.2600 1.2686 1.2786 1.2872 1.2972 1.3058 1.3158

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.2690 1.2793 1.2876 1.2979 1.3061

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
1.2784 1.2835 1.2852 1.2869 1.2903 1.2920 1.2937 1.2988

Tom Demark’s pivot points
Support Resistance
1.2736 1.2922

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1.2772 1.2816 1.2843 1.2865 1.2887 1.2958

USD/JPY Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
108.34 109.03 109.73 110.43 111.13 111.82 112.52

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
109.04 109.74 110.43 111.13 111.83

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
109.67 110.05 110.18 110.31 110.56 110.69 110.82 111.20

Tom Demark’s pivot points
Support Resistance
110.08 111.48

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
109.73 110.06 110.26 110.43 110.59 111.12

AUD/USD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
0.6982 0.7018 0.7077 0.7112 0.7171 0.7207 0.7266

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
0.7024 0.7089 0.7118 0.7183 0.7212

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
0.7084 0.7110 0.7118 0.7127 0.7144 0.7153 0.7162 0.7188

Tom Demark’s pivot points
Support Resistance
0.7094 0.7189

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
0.7053 0.7075 0.7089 0.7100 0.7112 0.7148

USD/CAD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.3036 1.3116 1.3181 1.3260 1.3325 1.3405 1.3470

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.3112 1.3174 1.3257 1.3318 1.3401

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
1.3166 1.3206 1.3219 1.3232 1.3259 1.3272 1.3285 1.3325

Tom Demark’s pivot points
Support Resistance
1.3148 1.3293

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1.3195 1.3229 1.3250 1.3267 1.3284 1.3340

If you have any questions or comments on this technical analysis, please feel free to reply below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

EUR/USD was heading lower at the beginning of the Friday’s trading session but has bounced later and is now trading near the opening level. Data in the United States was mixed, but it looks like traders paid more attention to bad parts as the currency were moving higher after almost each release.

Empire State Manufacturing Index climbed from 3.9 in January to 8.8 in February, exceeding the median forecast of 7.1. (Event A on the chart.)

Import and export prices fell in January. Import prices decreased 0.5%. That is compared to the forecast drop of 0.1% and the previous month’s decline of 1.0%. Export prices dropped 0.6%, the same in December. (Event A on the chart.)

Industrial production and capacity utilization also dropped in January. Production decreased 0.6%, while experts had predicted the same 0.1% decrease as in December. Capacity utilization decreased from 78.8% to 78.2%, while the average forecast had promised it to stay unchanged. (Event B on the chart.)

Michigan Sentiment Index climbed to 95.5 in February from 91.2 in January according to the preliminary estimate. The actual figure exceeded the analysts’ median prediction of 93.3. (Event C on the chart.)

Net foreign purchases were at -$48.3 billion in December after logging a reading of $32.0 billion in November. Forecasters had totally missed the mark with their predictions of $34.5 billion. (Event D on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

EUR/USD jumped sharply after US retail sales demonstrated the biggest decline in more than 9 years. While the currency pair has backed off from the daily highs by now, it is still trading firmly above the opening level. Earlier, the EUR/USD advanced after eurozone GDP came out in line with expectations. (Event A on the chart.)

PPI fell 0.1% in January after declining 0.2% in December. That frustrated analysts, who had predicted an increase of 0.1%. (Event B on the chart.)

Seasonally adjusted retail sales slumped 1.2% in December from the previous month, whereas experts had promised the indicator to increase at the same 0.1% rate as in November. (Event B on the chart.)

Seasonally adjusted initial jobless claims rose to 239k last week from the previous week’s revised level of 235k instead of falling to 225k as analysts had predicted. (Event B on the chart.)

Business inventories slipped by 0.1% in November from October. That is compared to an increase of 0.3% forecast by specialists and the 0.6% gain registered the month before. (Event C on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

EUR/USD fell today, reversing yesterday’s gains. Market analysts argued that the possible reason for the decline was the bigger-than-expected contraction of eurozone industrial production. (Event A on the chart.) Macroeconomic data in the United States was not good as well, but that did not prevent the dollar from rising against the euro.

US CPI was flat in January on a seasonally adjusted basis, whereas analysts had expected an increase by 0.1%. The index declined 0.1% in the prior month. (Event B on the chart.)

Crude oil inventories increased by 3.6 million barrels last week, exceeding the analysts’ average forecast of a 2.1 million increase. The stockpiles rose by 1.3 million barrels the week before. Total motor gasoline inventories edged up by 0.4 million barrels. (Event C on the chart.)

Treasury budget deficit shrank to $13.5 in December from $204.9 in November. Economists had expected a big smaller deficit of $10.5 billion. (Event D on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

The US dollar has entered an uptrend against the Japanese yen on the 4-hour chart on January 31. On February 4, the currency pair began to consolidate inside a symmetrical triangle with a slight bias towards an ascending triangle. A successful breakout up from this pattern can serve as a tradable continuation signal.

The borders of the triangle are shown with the yellow lines. The cyan line is my potential entry level; it is located at 10% of the triangle’s base width above the upper border. The green line is my potential take-profit level; it is located at 100% of the triangle’s base width above the upper border. I will set my stop-loss to the lowest point of the triangle — 109.428. I will ignore bearish breakouts from this triangle as it should be a continuation pattern. You can click on the chart to see a larger version of it:

I have built this chart using the ChannelPattern script. You can download my MetaTrader 4 chart template for this USD/JPY pattern. You can trade it using my free Chart Pattern Helper EA.

If you have any questions or comments regarding this symmetrical triangle on the USD/JPY chart, please feel free to submit them via the form below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
EUR/USD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1135 1.1228 1.1275 1.1367 1.1414 1.1507 1.1554

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1217 1.1252 1.1356 1.1391 1.1495

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
1.1245 1.1283 1.1296 1.1309 1.1334 1.1347 1.1360 1.1398

Tom Demark’s pivot points
Support Resistance
1.1251 1.1391

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1.1321 1.1353 1.1374 1.1390 1.1407 1.1460

GBP/USD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.2578 1.2715 1.2827 1.2965 1.3077 1.3215 1.3327

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.2709 1.2814 1.2959 1.3064 1.3208

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
1.2802 1.2871 1.2893 1.2916 1.2962 1.2985 1.3008 1.3076

Tom Demark’s pivot points
Support Resistance
1.2771 1.3021

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1.2853 1.2912 1.2949 1.2978 1.3007 1.3103

USD/JPY Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
108.68 109.05 109.41 109.78 110.14 110.51 110.87

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
109.05 109.39 109.78 110.12 110.51

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
109.36 109.56 109.63 109.69 109.83 109.89 109.96 110.16

Tom Demark’s pivot points
Support Resistance
109.59 110.32

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
109.43 109.60 109.71 109.79 109.88 110.16

AUD/USD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
0.6806 0.6933 0.7010 0.7137 0.7214 0.7341 0.7419

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
0.6921 0.6986 0.7125 0.7190 0.7329

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
0.6976 0.7032 0.7050 0.7069 0.7107 0.7125 0.7144 0.7200

Tom Demark’s pivot points
Support Resistance
0.6972 0.7176

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
0.7060 0.7108 0.7138 0.7162 0.7186 0.7264

USD/CAD Floor pivot points
3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.2885 1.2985 1.3129 1.3229 1.3373 1.3472 1.3616

Woodie’s pivot points
2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.2996 1.3151 1.3240 1.3395 1.3483

Camarilla pivot points
4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
1.3139 1.3206 1.3228 1.3250 1.3295 1.3317 1.3340 1.3407

Tom Demark’s pivot points
Support Resistance
1.3179 1.3422

Fibonacci retracement levels
0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1.3085 1.3142 1.3178 1.3206 1.3235 1.3328

If you have any questions or comments on this technical analysis, please feel free to reply below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

EUR/USD extended its decline for the fourth consecutive session today after the European Commission downgraded its growth forecasts. Poor macroeconomic data from the eurozone also weighed on the currency pair.

Initial jobless claims fell from 253k to 234k last week. That is compared to the average forecast of 220k. (Event A on the chart.)

Consumer credit rose by $16.5 billion in December, matching market expectations, after increasing $22.4 billion in November. (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

EUR/USD fell today for the third day in a row after Germany released a disappointing report on factory orders. Meanwhile, US data was good, with the trade deficit decreasing more than was expected. Signs of positive developments in the Sino-US trade talks provided additional boost to the US dollar against its rivals, including the euro.

US trade balance deficit shrank to $49.3 billion in November down from the revised reading of $55.7 billion in October. The analysts’ average forecast had promised a bigger value of $54.0 billion. (Event A on the chart.)

Crude oil inventories increased by 1.3 million barrels last week, matching forecasts exactly, after increasing by 0.9 million barrels the week before. Total motor gasoline inventories rose by 0.5 million barrels. (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog.
Read Full Article

Read for later

Articles marked as Favorite are saved for later viewing.
close
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

Separate tags by commas
To access this feature, please upgrade your account.
Start your free month
Free Preview