EUR/USD (Swing Forecast)
Potential StrategyWait until a new pattern emerges.
What is the trend? Neutral
What is this pattern? No pattern present
Why is this significant? There is no high probability pattern so we cannot place a trade.
What other indicators or Fib Levels support this thesis? No trade
Reason for StrategyWe have drawn a bearish channel on the 2hr Chart that has provide fairly accurate support and resistance at this point.  The pair also has broken the Daily Chart channel.  Both of these charts point to a move farther down, but we will still stay on the sidelines until a new pattern emerges.Trade InvalidationNo trade
Support & Resistance Levels
Resistance 3 Bottom of channel See Daily Chart
Resistance 2 1.4746 38.2% of AB on the Daily Chart
Resistance 1 Top of channel See 2hr Chart
Current Price 1.4530  
Support 1 Bottom of channel See 2hr Chart
Support 2 N/A N/A
Support 3 N/A N/A

                                  
Daily Chart - Broken bullish channel.
2hr Chart - Bearish channel. DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought. This website is not intended for residents of the United Kingdom, Singapore or Australia.

A list of Forex brokers which provide free advanced Forex trading platform. This unique trading software usually can be downloaded from broker's site and used solely with this broker. Such advanced platforms often provide Forex traders with powerful features which can greatly improve trading results.

FX Solutions — Forex Broker

FX Solutions:

Company: FX Solutions, LLC
On-line since: 2001
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission as a Futures Commission Merchant and is a member of the National Futures Association (NFA), ID# 0312620.
Payment options: Credit cards, PayPal, on-line check, paper checks and bank wire
Minimum account size: $250
Minimum lot size: 0.1 lot
Leverage: from 1:100 to 1:400
Spreads: 3 pips on EUR/USD
Advantages:

Advanced charting software
No commissions
Disadvantages:

No MetaTrader4 software support
Opening an account is a complicated process
Click here to open an account with FX Solutions

GFT Forex — Forex Broker

GFT Forex:

Company: Global Futures & Forex, Ltd.
On-line since: 2001
Country of origin: Australia
Regulation: Registered with the Commodity Futures Trading Commission, is also a member of the Australian Securities and Investments Commission (ASIC), an independent Australian government body that regulates financial markets, securities, futures and corporations since January 1991.
Payment options: Credit cards, eCheck, PayPal, bank wire and paper checks
Minimum account size: $250
Minimum lot size: 0.1 lot
Leverage: from 1:100 to 1:400
Spreads: Variable (3 pips average) on EUR/USD
Advantages:

Unique trading software
Ability to trade with really huge amounts of money
Free Forex training
More than 60 currency pairs
Leverage up to 1:400
Disadvantages:

Variable spreads can be quite high
Opening an account is a complicated process
Click here to open an account with GFT Forex

Deutsche Bank FOREX — Forex Broker

Deutsche Bank FOREX:

Company: Deutsche Bank AG
On-line since: 2006
Country of origin: Germany
Regulation: Authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervising Authority) and with respect to UK commodity derivatives business by the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business, a member of The London Stock Exchange and is a stock corporation incorporated in the Federal Republic of Germany HRB No. 30 000 District Court of Frankfurt am Main; Branch Registration No. in England and Wales BR000005, Registered address: Winchester House, 1 Great Winchester Street London EC2N 2DB.
Payment options: Bank wire
Minimum account size: $5,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Unique trading software
Great user support
Operated by one of the most trusted world banks
Disadvantages:

No MetaTrader4 software support
Opening an account is a complicated process
No mini Forex accounts
Click here to open an account with Deutsche Bank FOREX

FXCM — Forex Broker

FXCM:

Company: Forex Capital Markets
On-line since: 1999
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Also regulated by the official regulators in UK, Canada, Hong Kong, Australia and France.
Payment options: On-line checks, bank wire, paper checks and credit cards
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100 and 1:200
Spreads: 2-3 pips on EUR/USD
Advantages:

Unique trading software
MetaTrader 4 support
Web-based platform is available
Great user support
Training courses available
Access to DailyFX.com
Disadvantages:

Limitations for MetaTrader 4 accounts
No mini-Forex accounts
Click here to open an account with FXCM

Realtime Forex — Forex Broker

Realtime Forex:

Company: Realtime Forex SA
On-line since: 2000
Country of origin: Switzerland
Regulation: Supervised directly by the Control Panel for the Prevention of Money Laundering Autorite de Controle LBA.
Payment options: Bank wire
Minimum account size: $3,000
Minimum lot size: 1 lot
Leverage: from 1:50 to 1:100
Spreads: 3 (2 for big accounts) pips on EUR/USD
Advantages:

Advanced and newbie-friendly trading platforms
Mobile trading supported
Disadvantages:

No MetaTrader4 software support
No mini Forex accounts
Click here to open an account with Realtime Forex

Saxo Bank — Forex Broker

Saxo Bank:

Company: Saxo Bank
On-line since: 1999
Country of origin: Denmark
Regulation: Saxo Bank is an officially registered European bank.
Payment options: Wire transfer
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD
Advantages:

Unique trading software
Very solid company
Disadvantages:

Very high margin requirements
Opening an account is a complicated process
Click here to open an account with Saxo Bank

Forex.CH — Forex Broker

Forex.CH:

Company: GFX Group SA
On-line since: 2005
Country of origin: Switzerland
Regulation: Registered with the Swiss self-regulated financial organization PolyReg.
Payment options: Bank wire and checks
Minimum account size: $2,000
Minimum lot size: 0.1 lot
Leverage: up to 1:200
Spreads: 2—3 pips on EUR/USD
Advantages:

Custom advanced trading platform and MetaTrader 4
Stock indices trading available
No overnight interest for Muslim traders
Disadvantages:

High account size minimum for mini Forex
Commissions for no-overnight interest accounts
Opening an account is a complicated process
Click here to open an account with Forex.CH

Dukascopy — Forex Broker

Dukascopy:

Company: Dukascopy Swiss FX Group
On-line since: 2004
Country of origin: Switzerland
Regulation: Member of ARIF (a self regulatory financial organization).
Payment options: Bank wire
Minimum account size: $50,000
Minimum lot size: 10 lot
Leverage: 1:100
Spreads: 0-1 pip on EUR/USD
Advantages:

ECN Forex broker
Low spreads
A respected Forex company
Advanced trading platform
Disadvantages:

No mini Forex account
Opening an account is a complicated process
Very high minimum account size
Click here to open an account with Dukascopy

Forex Club — Forex Broker

Forex Club:

Company: Forex Club Financial Company, Inc.
On-line since: 2000
Country of origin: USA
Regulation: Futures Commission Merchant (FCM) registered with the National Futures Association (NFA ID 0358265).
Payment options: Credit cars, wire transfer and checks
Minimum account size: $10
Minimum lot size: 0.01 lot
Leverage: from 1:20 to 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Advanced trading platform
Disadvantages:

No Metatrader 4 software support
Click here to open an account with Forex Club

MGFOREX — Forex Broker

MGFOREX:

Company: MG Financial Group
On-line since: 1997
Country of origin: USA
Regulation: Registered as a Futures Commission Merchant with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA ID #0308808).
Payment options: PayPal, wire transfer, credit cards and checks
Minimum account size: $500
Minimum lot size: 0.1 lot
Leverage: up to 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Muslim friendly Forex broker (fees instead of overnight interest)
Regular Forex trading contests
Multi-currency accounts
Disadvantages:

No MetaTrader 4 software support
Click here to open an account with MGFOREX

CMC Markets — Forex Broker

CMC Markets:

Company: CMC Markets UK Plc
On-line since: 2005
Country of origin: United Kingdom
Regulation: Registered as a Futures Commission Merchant with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Payment options: Wire transfer, credit cards and checks
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD
Advantages:

Competitive spreads
Disadvantages:

No Metatrader 4 software support
Opening an account is a complicated process
Click here to open an account with CMC Markets

IFC Markets — Forex Broker

IFC Markets:

Company: IFC Markets Corp.
On-line since: 2006
Country of origin: British Virgin Islands
Regulation: Incorporated in British Virgin Islands with registration number IBC CAP. 291 Reg. #669838 and is under jurisdiction of the Financial Services Commission (FSC).
Payment options: WebMoney, Liberty Reserve, bank wire, credit cards and CashU
Minimum account size: $1
Minimum lot size: 0.001 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD
Advantages:

WebMoney deposit option
Only $1 to start trading
Disadvantages:

No Metatrader 4 software support
Click here to open an account with IFC Markets

iTradeFX — Forex Broker

iTradeFX:

Company: i-TradeFX, LLC
On-line since: 2004
Country of origin: USA
Regulation: Registered Futures Commission Merchant (FCM), a member of the National Futures Association (NFA) (Member ID# 0367140) and is regulated by the Commodity Futures Trading Commission (CFTC).
Payment options: Bank wire, credit cards and check
Minimum account size: $300
Minimum lot size: 0.1 lot
Leverage: up to 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Custom trading platform available
Disadvantages:

No MetaTrader 4 platform available
Limited demo account period
Click here to open an account with iTradeFX

CitiFX — Forex Broker

CitiFX:

Company: Citigroup
On-line since: 2008
Country of origin: USA
Regulation: Citi is one of the largest banks in U.S.
Payment options: Wire transfer
Minimum account size: $10,000
Minimum lot size: 1 lot
Leverage: 1:50 or 1:25
Spreads: 2 pips on EUR/USD
Advantages:

Serious banking institution
Advanced trading platform
Disadvantages:

No mini Forex accounts
Opening an account is a complicated process
Click here to open an account with CitiFX

FXCM Micro — Forex Broker

FXCM Micro:

Company: Forex Capital Markets
On-line since: 2008
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Payment options: Credit cards
Minimum account size: $25
Minimum lot size: 0.01 lot
Leverage: 1:400
Spreads: 1.5 pips on EUR/USD
Advantages:

Unique trading software
Very low spreads
Disadvantages:

No MetaTrader 4 software support
Only 1:400 leverage available
The maximum account balance is $5,000
Click here to open an account with FXCM Micro

ATC Brokers — Forex Broker

ATC Brokers:

Company: ATC Brokers
On-line since: 2007
Country of origin: USA
Regulation: Member of NFA (ID: 0358522) and registered with CFTC.
Payment options: Wire transfer and check
Minimum account size: $3,500
Minimum lot size: 0.1 lot
Leverage: 1:100 and 1:50
Spreads: Variable (1 pip average) on EUR/USD
Advantages:

MetaTrader 4 platform available
Advanced trading platform available (Currenex)
ECN broker
Disadvantages:

Opening an account is a complicated process
High minimum account size
Commission fees for each trade
Click here to open an account with ATC Brokers

ATG — Forex Broker

ATG:

Company: Aaron Trading
On-line since: 2005
Country of origin: USA
Regulation: Registered with NFA (ID: 0359739).
Payment options: Wire transfer
Minimum account size: $25,000
Minimum lot size: 1 lot
Leverage: 1:50
Spreads: ECN variable
Advantages:

Several advanced trading platforms
ECN Forex broker
Tight variable spreads
Disadvantages:

Very high minimum account size
No MetaTrader 4 support
Commissions for ECN execution
Opening an account is not an easy process
Click here to open an account with ATG

Advanced Markets — Forex Broker

Advanced Markets:

Company: Advanced Markets LLC
On-line since: 2006
Country of origin: USA
Regulation: Registered with NFA (ID: 0368125)
Payment options: Wire transfer and check
Minimum account size: $2,500
Minimum lot size: 0.1 lot
Leverage: up to 1:100
Spreads: 1-3 pips on EUR/USD
Advantages:

Advanced trading platform
Disadvantages:

Relatively high minimum account size
Click here to open an account with Advanced Markets

Tamley Global Markets — Forex Broker

Tamley Global Markets:

Company: Tamley Global Markets
On-line since: 2007
Country of origin: Ireland
Regulation: Regulated by British FSA.
Payment options: Credit cards, wire transfer and checks
Minimum account size: $500
Minimum lot size: 0.1 lots
Leverage: from 1:100 to 1:400
Spreads: 2 pip on EUR/USD
Advantages:

Custom platform, which supports several types of expert advisors, including MT4 EAs
Disadvantages:

No important disadvantages
Click here to open an account with Tamley Global Markets

Boston Merchant Financial — Forex Broker

Boston Merchant Financial:

Company: Boston Merchant Financial LLC
On-line since: 2008
Country of origin: United States
Regulation: Registered with NFA (ID: 0379830), FINRA (CRD#23739), member of PolyReg.
Payment options: Credit cards, WebMoney and wire transfer
Minimum account size: $100
Minimum lot size: 0.01 lot
Leverage: up to 1:400
Spreads: 2 pips on EUR/USD
Advantages:

MetaTrader and Currenex trading platforms
Islamic accounts available on request
Offers Forex, CFD, equities, futures, oil and gold trading
Disadvantages:

No important disadvantages
Click here to open an account with Boston Merchant Financial

Bookmark and Share
0 comments

Quotes OnLine