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My Forex experience and some Forex related information that might be useful to other traders
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Dollar Stronger Before FOMC Decision, Gave Up Somewhat After
EUR/USD had a very big drop today as the stock markets grew in U.S. and the Forex traders expected positive decision from the FOMC monetary policy. ISM report also supported the greenback today with an increase in its index, but the main news was the interest rate decision and (more important) the statement released by the Federal Reserve. After the release of the report, dollar began to go down slightly, but overall it had a very good day against the euro today. EUR/USD went down from 1.5570 to 1.5446 today — the lowest since June 16.

FOMC left the federal funds rate unchanged at 2.00% today. The statement said that the economic situation improves but the employment, housing and financial sectors are still at risk. Nevertheless, inflation uncertainty remains a significant concern for the Federal Reserve. This will probably mean that there will be no further rate cuts or increases during the next meeting or two.

Although downside risks to growth remain, the upside risks to inflation are also of significant concern to the Committee. The Committee will continue to monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability.

ISM non-manufacturing index rose from 48.2% to 49.5% in July — this growth exceeds the median experts’ estimate by 0.8%.
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EUR/USD Trading Mostly Sideways Before FOMC Meeting Day
EUR/USD is little changed today even as some important statistical indicators are released in U.S., because traders are waiting for the FOMC interest rate policy statement that is scheduled for tomorrow. The currency pair opened at 1.5574 and is currently trading near 1.5603.

Personal income rose 0.1% in June after 1.8% (revised down from 1.9%) growth in May. The consensus forecast for June was a 0.1% decline. Personal spendings increased 0.6% after 0.8% growth in May and 0.7% growth forecast for June.

New factory orders in June increased by 1.7% following 0.9% increase in May. Market strategists predicted a 0.7% growth for that month.
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Forex Technical Analysis for 08/04—08/08 Week

UR/USD trend: sell.
GBP/USD trend: hold.
USD/JPY trend: hold.
EUR/JPY trend: sell.

Floor Pivot Points
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.5210	1.5363	1.5463	1.5616	1.5716	1.5869	1.5969
GBP/USD	1.9422	1.9575	1.9663	1.9816	1.9904	2.0057	2.0145
USD/JPY	106.09	106.69	107.18	107.78	108.27	108.87	109.36
EUR/JPY	164.05	165.52	166.55	168.02	169.05	170.52	171.55

Woodie’s Pivot Points
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.5350	1.5438	1.5603	1.5691	1.5856
GBP/USD	1.9575	1.9663	1.9816	1.9904	2.0057
USD/JPY	106.69	107.18	107.78	108.27	108.87
EUR/JPY	165.52	166.55	168.02	169.05	170.52

Camarilla Pivot Points
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.5425	1.5494	1.5518	1.5541	1.5587	1.5610	1.5634	1.5703
GBP/USD	1.9619	1.9686	1.9708	1.9730	1.9774	1.9796	1.9818	1.9885
USD/JPY	107.08	107.38	107.48	107.58	107.78	107.88	107.98	108.28
EUR/JPY	166.22	166.90	167.13	167.36	167.82	168.05	168.28	168.97

Tom DeMark’s Pivot Points
Pair	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance	1.5666	1.9860	108.57	168.54
Support	1.5413	1.9619	107.48	166.04

Fibonacci Retracement Levels
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.5768	1.9968	108.37	169.48
61.8%	1.5671	1.9876	107.95	168.53
50.0%	1.5642	1.9848	107.83	168.23
38.2%	1.5612	1.9819	107.70	167.94
23.6%	1.5575	1.9784	107.54	167.57
0.0%	1.5515	1.9727	107.28	166.98

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Forex Technical Analysis for 07/28—08/01 Week

EUR/USD trend: sell.
GBP/USD trend: buy.
USD/JPY trend: buy.
EUR/JPY trend: buy.

Floor Pivot Points
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.5261	1.5444	1.5577	1.5760	1.5893	1.6076	1.6209
GBP/USD	1.9538	1.9677	1.9797	1.9936	2.0056	2.0195	2.0315
USD/JPY	104.66	105.35	106.59	107.28	108.52	109.21	110.45
EUR/JPY	165.48	166.49	167.94	168.95	170.40	171.41	172.86

Woodie’s Pivot Points
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.5432	1.5551	1.5748	1.5867	1.6064
GBP/USD	1.9677	1.9797	1.9936	2.0056	2.0195
USD/JPY	105.35	106.59	107.28	108.52	109.21
EUR/JPY	166.49	167.94	168.95	170.40	171.41

Camarilla Pivot Points
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.5535	1.5622	1.5651	1.5680	1.5738	1.5767	1.5796	1.5883
GBP/USD	1.9774	1.9845	1.9869	1.9892	1.9940	1.9963	1.9987	2.0058
USD/JPY	106.76	107.29	107.47	107.64	108.00	108.17	108.35	108.88
EUR/JPY	168.04	168.71	168.94	169.16	169.62	169.84	170.07	170.74

Tom DeMark’s Pivot Points
Pair	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance	1.5985	2.0126	107.90	170.91
Support	1.5669	1.9867	105.97	168.45

Fibonacci Retracement Levels
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.5944	2.0076	107.98	169.96
61.8%	1.5823	1.9977	107.24	169.02
50.0%	1.5786	1.9947	107.02	168.73
38.2%	1.5749	1.9916	106.79	168.44
23.6%	1.5703	1.9878	106.51	168.08
0.0%	1.5628	1.9817	106.05	167.50