Forex Market Analysis For August 19, 2014

Forex Market Analysis For August 19, 2014 EUR/USD EUR/USD confirmed double top and has given a break below wedge lower limit. With weekly RSI violating graphical floor, the pair is poised to face deeper correction towards 1.3210. 1.3350 is an intermediate support. Short term pullback, if any, should be capped at 1.3552/61. For the day,… Read More »

Forex Market Review For August 18, 2014

  Forex Market Review For August 18, 2014   EUR/USD EUR/USD has held up well despite some softer Q2 growth numbers last week.  The month’s low of 1.3333 continues to hold. There’s little on the calendar today to suggest a break out of the recent 1.3333-1.3450 range. IMM data shows EUR short positions pared back… Read More »

Funding Your Forex Account With Neteller

Neteller is an e-wallet solution used to find Forex Trading accounts. The company is publicly traded on the London Stock Exchange under the name optimal payments. The company is also regulated under the FSA E–money services. Once the user sets up there not tell her account funding with their broker is a snap. One of… Read More »

Forex Market Brief August 15, 2014

Forex Market Brief August 15, 2014   EUR/USD The bear triangle yesterday traced out the last sub wave, the e-wave, and should hence now stand ready to plunge lower to a fresh low. The triangle’s theoretical target is roughly in the mid 1.32′s but anything below 1.3333 will fulfill the minimum requirement for a completed… Read More »

How to Conduct Backtesting in MetaTrader 4

  The back testing feature in MetaTrader 4 can be very useful to test a strategy before having it trade live. Back testing basically allows you to see how your system would have performed in a certain timeframe under certain conditions. This obviously does not mean the same conditions will be there in the future.… Read More »

Forex Market News August 14, 2014

  Forex Market News August 14, 2014   Euro area GDP in Q2/14 was unchanged from the prior quarter, thereby managing to lowball what was already a gloomy market consensus for growth of just 0.1% q/q. While the ECB does not publish a quarterly growth profile, our European economists’ best guess (based on the annual… Read More »

Understanding Custom Indicators in MetaTrader 4

  One of the features that forex Traders enjoy most about MetaTrader 4 is the fact that it allows the user to be able to create their own custom indicators. Some of the most common technical indicators that are used are already available in MetaTrader 4. These include RSI or relative strength Index, stochastics, MA… Read More »

Forex Market Outlook August 13 2014

Forex Market Outlook August 13 2014 EURUSD The euro came come under renewed selling pressure over the past month. EUR/USD tumbled through 1.34 for the first time since last November, while EUR/GBP slid below 0.79 for the first time in almost two years. An escalation of the Russia/Ukraine crisis is a key downside risk for… Read More »