Forex blog: Forex Blog (5 сообщений)

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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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Dollar Trades Almost Without Change against Euro
Despite the large drops in the employment and the factory orders in the United States, the U.S. dollar stood still against the euro today. Although, there were medium intraday spikes in both directions, the EUR/USD is currently trading close to its opening level — near 1.2856.

Initial jobless claims were at 626k last week — up from 591k a week earlier and above the consensus forecast of 580k.

Nonfarm business productivity rose by 3.2% in the fourth quarter of 2008 or 2.8% in a year-to-year comparison. The growth follows 1.4% advance of the nonfarm business productivity in 2007.

Factory orders were down by 3.9% in December, following 4.6% drop in November. They still declined faster than the traders have expected (3.2%).
Posted on Forex blog.
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EUR/USD Declines on Some Mixed News from U.S.
EUR/USD fell today as some bad and some good news regarding the state of the economy were released in the United States. EUR/USD is currently trading near 1.2888 after reaching as low as 1.2812 earlier today.

ADP Employment report showed that the private nonfarm employment declined by 522k job places in January, following a decline by 659k in December (revised upwardly from 693k decline). The market analysts expected a drop by 515k in January.

ISM services index was reported at 42.9% in January — up from 40.1% in December and above the median forecast of 39%.

Crude oil inventories continue to climb up in the United States and gained 7.2 million barrels last week.
Posted on Forex blog.
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5/13/62 Forex Trading Strategy by Rob Booker
The short Forex ebook that was uploaded on my site today is 5/13/62 strategy description written by one of the most famous Forex gurus of our time — Rob Booker. The strategy is based on the three EMAs (exponential moving averages) with periods — 5, 13 and 62. The first half of the book is dedicated to the self-disciple and Rob states that its the basement of the offered strategy — without the safe-discipline no trading system will work for a anyone. All explanations in the book are very basic and are probably intended for the Forex newbies. As for me, I didn’t learn much from this strategy description and I don’t think that any experienced Forex trader will enjoy reading it. But if you are new to Forex or searching for a new strategy (and never used any triple-EMA strategy before), or a fan of Rob Booker, then you’ll probably like this short ebook.
Posted on Forex blog.
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EUR/USD Rises as Manufacturing ISM Grows
EUR/USD advanced today after the weekly opening gap and even rose above the Friday’s close level. Some of the fundamental reports in U.S. were slightly better than the traders have expected, so the currency markets reacted with the growing high-yielders. EUR/USD is currently trading near 1.2838.

Personal income decreased by 0.2% in December after falling by 0.4% in November. Personal spending declined by 1% in December following 0.8% drop in November. The forecasts for the today’s report were at 0.4% and 0.9% drops respectively.

Construction spending fell by 1.4% in December compared to the month of November after decreasing by 1.2% a month before (revised down from 0.6% decline).

Manufacturing ISM index (PMI) rose from 32.9% (revised up from 32.4%) to 35.6% in January. The analysts expected it to decline to 32.0% last month.
Posted on Forex blog.
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Forex Technical Analysis for 02/02—02/06 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
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	1.2042	1.2403	1.2607	1.2968	1.3172	1.3533	1.3737
GBP/USD	1.2882	1.3214	1.3877	1.4209	1.4872	1.5204	1.5867
USD/JPY	86.03	87.14	88.52	89.63	91.01	92.12	93.50
EUR/JPY	106.98	110.35	112.79	116.16	118.60	121.97	124.41

Woodie’s Pivot Points
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.2364	1.2530	1.2929	1.3095	1.3494
GBP/USD	1.3214	1.3877	1.4209	1.4872	1.5204
USD/JPY	87.14	88.52	89.63	91.01	92.12
EUR/JPY	110.35	112.79	116.16	118.60	121.97

Camarilla Pivot Points
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.2501	1.2657	1.2708	1.2760	1.2864	1.2916	1.2967	1.3123
GBP/USD	1.3992	1.4265	1.4357	1.4448	1.4630	1.4721	1.4813	1.5086
USD/JPY	88.53	89.22	89.44	89.67	90.13	90.36	90.58	91.27
EUR/JPY	112.02	113.62	114.15	114.69	115.75	116.29	116.82	118.42

Tom DeMark’s Pivot Points
Pair	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance	1.3353	1.5038	91.57	120.29
Support	1.2788	1.4043	89.08	114.48

Fibonacci Retracement Levels
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.3328	1.4542	90.74	119.54
61.8%	1.3112	1.4162	89.79	117.32
50.0%	1.3046	1.4045	89.50	116.64
38.2%	1.2979	1.3927	89.20	115.95
23.6%	1.2896	1.3782	88.84	115.10
0.0%	1.2763	1.3547	88.25	113.73