4 New Forex Brokers Descriptions

Another update to Forex brokers section of my site - 4 new descriptions of brokerage companies, each with their own advantages - Metatrader or e-gold, unique trading platform or stock market indices trading:

• FXEgypt
• Forex.CH
• Finotec
• Wester Capital Forex

8 Forex Brokers Lists

EarnForex.com now features 8 Forex brokers lists each containing Forex brokers with a special property making it useful to some category of Forex traders. This will help you to find a good broker that would fulfill your needs more easily. The new 8 Forex broker lists are:

• e-gold Forex Brokers
• Metatrader 4 Forex Brokers
• Forex Brokers with Web Based Platform
• Forex Brokers with Advanced Trading Platform
• Institutional Forex Brokers
• Forex Brokers with CFD Trading
• Muslim Friendly Forex Brokers
• ECN Friendly Forex Brokers

EUR/USD Technical Analysis for 4/30-5/4

General trend: bearish.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3418___1.3480___1.3565___1.3627__1.3712___1.3774___1.3859

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3486___1.3578___1.3633___1.3725__1.3780

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3570___1.3611___1.3624___1.3638__1.3664___1.3678___1.3691___1.3732

Tom DeMark's pivot points:
Resistance: 1.3743
Support: 1.3596

Fibonacci retracement levels:
100% - 1.3688
61,8% - 1.3632
50,0% - 1.3615
38,2% - 1.3597
23,6% - 1.3576
00,0% - 1.3541

Possible EUR/USD Reversal?

Jamie Saettele, Technical Currency Analyst of DialyFX suggests a soon EUR/USD reversal movement considering several Forex technical factors that can influence traders in the next few weeks. Saettele lists several Resistance levels which might appear to be quite impassible for EUR/USD bulls, while providing more in-depth technical analysis to prove his point. To read more of Jamie Saettele's article click here. I've tried to apply my own analysis combined with Wolfe waves theory and have came to the conclusion that the major turning point in EUR/USD is quite possible to happen this week:

Point "5" (see chart) is the point after which the strong bearish must follow. This wave (according to Wolfe waves rules) will last until it reaches a cyan line which goes through points "1" and "4" - this is 1.2700-1.2800 level, which is quite far below. Nothing can be guaranteed on Forex market, but I think that we've got a good probability of some bearish movements on EUR/USD.

EUR/USD Technical Analysis for 4/23-4/27

General trend: ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3417___1.3470___1.3529___1.3582__1.3641___1.3694___1.3753

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3472___1.3531___1.3584___1.3643__1.3696

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3525___1.3556___1.3566___1.3577__1.3597___1.3608___1.3618___1.3649

Tom DeMark's pivot points:
Resistance: 1.3612
Support: 1.3500

Fibonacci retracement levels:
100% - 1.3636
61,8% - 1.3593
50,0% - 1.3580
38,2% - 1.3567
23,6% - 1.3550
00,0% - 1.3524

LiteForex - a Really Good Forex Broker

EarnForex broker list was updated with a new Forex broker - LiteForex. This broker offers 3 very important opportunities for the new Forex traders:

1. Metatrader 4 Forex platform - many has it, but it is really almost a must for a Forex broker.
2. e-gold - as a funds deposit/waithdraw method.
3. Only 1$ to open a mini Forex account - a really easy start for a Forex newbie, isn't it?

As to the disadvantages - LiteForex lacks phone support and is only regulated on British Virgin Islands (which is not very serious for solid financial institutions).

Marketiva Lowers Spreads

Marketiva has lowered its spreads for almost all Forex pairs. Now the spreads for all currency pairs traded on Marketiva are as follows (in pips):
EUR/USD - 2
USD/JPY - 3
GBP/USD - 4
USD/CHF - 4
USD/CAD - 4
AUD/USD - 4
EUR/JPY - 4
EUR/GBP - 3
EUR/CHF - 4
GBP/JPY - 8
AUD/CAD - 10
EUR/AUD - 10
EUR/CAD - 10
GBP/CHF - 8
CHF/JPY - 5
AUD/JPY - 5
NZD/USD - 4

Those are very competitive spreads in current Forex market, which makes Marketiva even more attractive as retail Forex broker.

New Forex Broker - ForexYard

I've updated the list of Forex brokers to add another broker that accepts e-gold deposits and offers a trading through a Java based platform (along with a Windows platform) - ForexYard. I think - it's good Forex broker for the new traders that do not want to download and install client trading software.

Pound Breaks $2 Level

Today after CPI report came out to be higher than expected (Consumers Price Index in March (YoY) reached 3.1% against expected 2.8%), GBP/USD broke through the historical $2 level and is floating now in 2.0030-2.0070 range - the highest since 1981. Looks like bad times for USD have came. On the other hand it's nearly a perfect time to enter long on USD, because the correction will certainly follow. Though, Forex market can't be treated that simple.

EUR/USD Reaches New 2 Year High

Today EUR/USD reached 1.3576 value - a 2 year high since the January 2005. It is currently at its 2 year resistance level. Breaking this resistance would result in EUR/USD going even farther - to 1.4000-1.4500 levels. But for now, USD is slightly gaining strength and rolling back 1.3350.

Marketiva Investment Funds

Marketiva Forex broker now offers its clients to buy shares of several investment funds which are diversified in various assets. This is no doubt a positive addition to any Marketiva members since now they can secure some of their trading money in these funds. Although such investment funds are risky, they are still a very nice opportunity for those who fail in traditional Forex trading or wish for some rest before returning to Forex trading. Let's hope that Marketiva will continue to develop and innovate themselves as a Forex broker and financial institution even further. More details on Marketiva investment funds can be found here.

Muslim Forex Brokers

Tadawul FX - a special broker, which provides Forex trading through Metatrader 4 platform and offers special accounts for muslim traders (with no overnight interest). You can get more information about this broker here.

Interactive Brokers Goes Public

Interactive Brokers - one of the most trusted on-line Forex trading brokers announces its plans for an IPO (Initial Public Offer). Interactive Brokers LLC is planning to auction 20,000,000 (twenty millions) shares with a price range of $23 to $27 per share, totaling in 46 to 54 million dollars of market capitalization. Shares will be offered through WR Hambrecht + Co and HSBC Securities (USA) Inc. system and will be traded on NASDAQ stock exchange (NASDAQ stock symbol - IBKR). Anyone can participate IPO through the IB Dutch Auction System or any other broker offering access to IPOs. Bids can be submitted starting from 04/16/2007, until 05/03/2007 orders will become effective and auction will close.
Personally, I think that it is a very great move for the whole on-line Forex community and Interactive Brokers in particular. To learn more about IB IPO visit this page: http://ipo.interactivebrokers.com/IPO/

EUR/USD Technical Analysis for 4/16-4/20

General trend: ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3183___1.3261___1.3395___1.3473__1.3607___1.3685___1.3819

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3275___1.3423___1.3487___1.3635__1.3699

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3412___1.3471___1.3490___1.3510__1.3548___1.3568___1.3587___1.3646

Tom DeMark's pivot points:
Resistance: 1.3540
Support: 1.3328

Fibonacci retracement levels:
100% - 1.3551
61,8% - 1.3470
50,0% - 1.3445
38,2% - 1.3420
23,6% - 1.3389
00,0% - 1.3339

Update in Forex broker list

I've added information about ECN (Electronic Communication Network) broker - MB Trading. It’s an interesting Forex broker, which is a very good for those traders that are quite experienced in Forex trading and want to introduce themselves to ECN Forex trading (which is a kind of 'more real' trading). This broker has a low minimum deposit amount of $400. Some minor changes have also been brought to Forex brokers section - to Deutsche Bank FOREX, FXCM (thanks to Luis Gonzaga) and Marketiva (about withdrawal commission almost gone).

Forex e-books update

Now you can download one more e-book about money management in Forex market from my books page. The new e-book is called Money Management by Dave Landry (not very original, isn't it? ;-) ) . It is quite a short book for such an important topic - only 19 pages. It consists of four chapters and is written in a very easy manner which makes it a very good book for Forex beginners.

Forex broker list update

A new broker has been added to my Forex broker list. Not very popular one, but it is worth seeing and comparing, in my opinion:
X-Trade Brokers

EUR/USD technical analysis for 4/9-4/13

Next week pivot points (4/9-4/13) :.

EUR/USD technical analysis for the next week (4/9-4/13).

General trend: ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3195___1.3256___1.3317___1.3378__1.3439___1.3500___1.3561

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3256___1.3316___1.3378___1.3438__1.3500

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3331___1.3343___1.3355___1.3366__1.3388___1.3399___1.3411___1.3444

Tom DeMark's pivot points:
Resistance: 1.3469
Support: 1.3347

Fibonacci retracement levels:
100% - 1.3440
61,8% - 1.3393
50,0% - 1.3379
38,2% - 1.3365
23,6% - 1.3347
00,0% - 1.3318