Elliot Wave Theory was developed by Ralph Elliot in the 1930’s and is still a popular strategy that is used by forex traders today. The basis of the theory relies on the idea that market events form the same patterns that can be found amongst nature, and as such it is closely related to the … “How to trade forex with Elliot Wave Theory”
Month: May 2014
Aussie Looks for Direction amid Conflicting Fundamentals
The Australian dollar did not move far in either direction today amid conflicting fundamentals. The currency has an upward bias against the Japanese yen and slightly downward bias versus the US dollar and the euro. Yesterday’s report about business confidence from National Australia Bank was positive, showing a small increase of the index from 4 in March to 6 in April. Today’s housing data was not so good. The House Price … “Aussie Looks for Direction amid Conflicting Fundamentals”
Here’s Why Euro’s Downfall Won’t Be Easy
Fundamental Bias: Neutral Key Takeaways • ECB’s attempt to push the Euro down was successful, as EURUSD traded below 1.3800. • EURUSD reacted strongly from the triangle resistance zone before collapsing. • The pair is now heading towards a critical support zone at around 1.3730-1.3680 levels. The Euro is approaching a critical support zone where … “Here’s Why Euro’s Downfall Won’t Be Easy”
CAD Trades Sideways, Attempts Rally vs. JPY
The Canadian dollar was trading sideways at the beginning of this week after the Friday’s drop due to poor employment data. The currency was flat against the US dollar and the euro but was rising against the Japanese yen. Canadian employment lost as much as 28,900 jobs in April after rising by 42,900 in the previous month. It was a huge surprise to the majority of economists who were counting on growth by about 12,800. The unemployment rate remained … “CAD Trades Sideways, Attempts Rally vs. JPY”
Capital and Judgement and Black Scholes
I have worked in this industry for some time now and I have noticed some common themes amongst the ordinary investing public. When they come to me many of them want to know the secret formula. Is it correct to use one indicator over another or to use a combination of indicators or perhaps not … “Capital and Judgement and Black Scholes”
Forecast: ECB Made Things Difficult for Euro
The euro experienced tremendous weakness recently due to the negative surprise from the European Central Bank. Can the shared European currency overcome the bearish impact of the ECB announcement or it will continue to move lower? The European Central Bank provided an unpleasant surprise for euro bulls in form of comments from President Mario Draghi. The central bank did not change its monetary policy, as was expected, but Draghi said that he … “Forecast: ECB Made Things Difficult for Euro”
USDCHF: Closes Higher, Eyes Further Strength
USDCHF: With USDCHF rallying off the 0.8702 low to close higher the past week, it now faces the risk of further strength in the new week. Further out, resistance resides at the 0.8900 level where a break will pave the way for a run at the 0.8952 level. This level if broken will aim at … “USDCHF: Closes Higher, Eyes Further Strength”
Juan Jutgla Launches Better Way FX Consulting Services
Former VP Sales at Leverate launches a new venture: Better Way FX. His new consultancy will provide advice for forex and binary options institutes. Another venture is also under way. For more, here is the official press release: 9 May 2014 –- Juan Jutgla, former Director at X Open Hub and VP Sales at Leverate, has … “Juan Jutgla Launches Better Way FX Consulting Services”
Quotix adds Nordea added as a Liquidity Provider by
Quotix, the liquidity provider that is a subsidiary of Spotware, has announced the addition of Nordea to a growing list of liquidity providers. Spotware recently won a legal battle against unlawful use of the cTrader brand. For more about the latest move, here is the official press release: Quotix Ltd, an FX aggregation provider, has announced that … “Quotix adds Nordea added as a Liquidity Provider by”
Forex Time live trading competitions: Chinese traders scoop the
Cyprus based Forex Broker Forex Time announces the results of the trading competition, and Chinese investors emerge as the winners. This goes to show the growing popularity for foreign exchange trading in the world’s No. 2 economy. Forex Time recently introduced an Over-the-Weekend Forex Account. For more about the results of the competition, here is the … “Forex Time live trading competitions: Chinese traders scoop the”