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My Forex experience and some Forex related information that might be useful to other traders
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EUR/USD Rises for Third Day as GM Goes Bankrupt
Euro continued to advance sharply against the U.S. dollar today as the U.S. are witnessing their biggest bankruptcy case in history. Economic indicators that came out from the United States today (other than GM bankruptcy) were better than expected. EUR/USD is now trading near 1.4209.

Personal income rose by 0.5% in April after decreasing by 0.2% in March (revised up from -0.3%). Personal spending decreased by 0.1% in April, following 0.3% drop in March (revised down from -0.2%). Forecasts for both indicators showed -0.2%.

Construction spending at seasonally adjusted annual rate rose by 0.8% in April after 0.4% gain in March (revised up from 0.4% growth). Median forecast by the analysts pointed at 0.8% decline.

ISM in manufacturing sector rose from 40.1% to 42.8% in May — almost the same as expected (42%).
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Some Interesting Chart Patterns as of May 31st 2009
I’d like to share 5 interesting chart patterns that I’ve spotted on the market recently and some of them I currently use in my trading. I won’t give any recommendations regarding their usage here, but if you are familiar with pattern trading then you’ll know how to interpret these images. You can click on any image for a much better and clear picture. Use them on your own risk.

1. EUR/USD, Weekly, 2 Falling Wedges:

2. EUR/JPY, Daily, Ascending Wedge (Triangle):

3. GBP/JPY, Daily, Ascending Triangle:

4. USD/CHF, Daily, Falling Wedge:

5. NZD/JPY, Daily, Ascending Triangle:

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Forex Technical Analysis for 06/01—06/05 Week

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

Floor Pivot Points
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.3533	1.3663	1.3909	1.4039	1.4285	1.4415	1.4661
GBP/USD	1.5487	1.5631	1.5909	1.6054	1.6332	1.6476	1.6754
USD/JPY	91.27	92.84	94.08	95.66	96.90	98.48	99.72
EUR/JPY	128.17	129.82	132.38	134.03	136.59	138.24	140.80

Woodie’s Pivot Points
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.3692	1.3968	1.4068	1.4344	1.4444
GBP/USD	1.5665	1.5976	1.6087	1.6398	1.6510
USD/JPY	92.76	93.92	95.58	96.74	98.39
EUR/JPY	130.04	132.83	134.25	137.04	138.47

Camarilla Pivot Points
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.3949	1.4053	1.4087	1.4122	1.4190	1.4225	1.4259	1.4363
GBP/USD	1.5955	1.6071	1.6109	1.6148	1.6226	1.6264	1.6303	1.6419
USD/JPY	93.78	94.55	94.81	95.07	95.59	95.84	96.10	96.88
EUR/JPY	132.62	133.78	134.17	134.55	135.33	135.71	136.10	137.26

Tom DeMark’s Pivot Points
Pair	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance	1.4350	1.6404	97.69	137.41
Support	1.3974	1.5982	94.87	133.20

Fibonacci Retracement Levels
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4168	1.6199	97.23	135.68
61.8%	1.4024	1.6037	96.16	134.07
50.0%	1.3980	1.5987	95.82	133.57
38.2%	1.3936	1.5938	95.49	133.07
23.6%	1.3881	1.5876	95.08	132.46
0.0%	1.3792	1.5776	94.42	131.46