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EarnForex.com Monthly Newsletter
*April 5, 2011*
Welcome to the latest issue of EarnForex.com newsletter — April
2011.
In this issue of EarnForex.com newsletter I will remind you about the
most important Forex-related events of the last month and will also
show you the list of the site's latest updates.
*
Overview of the major currency pairs' performance in March*
*EUR/USD* — went up significantly in March. It was at its maximum
at 1.4248 on March 22, at its minimum at 1.3743 on March 2, finishing
the month at 1.4174.
*GBP/USD* — demonstrated almost full W-pattern (double bottom). The
highest monthly rate was at 1.6400 on March 22, while the lowest —
at 1.5936 on March 28. GBP/USD finished March trading at 1.6039.
*USD/JPY* — after falling significantly in the middle of the month,
the pair recovered all losses. The pair rose to as high as 83.29 on
March 11, reaching a bottom at 75.98 on March 16 and closing the month
with the 83.17 rate.
*EUR/JPY* — managed to post a significant monthly gain even after
an "Earthquake fall". The monthly high was at 117.98 on March 31, the
monthly low — at 106.28 on March 16. Trading ended at 117.89 for
this currency pair.
*GBP/JPY* — followed the general pattern of the JPY-pairs but
looked more like USD/JPY. The maximum level for this pair was at
135.19 on March 4, while the minimum — at 122.15 on March 16. The
month's trading ended at 133.42 for GBP/JPY.
*
Fundamental background of the past month*
The most important event of March was the Tohoku earthquake and
tsunami in Japan and a resulting malfunction of the Fukushima I and
II nuclear
power plants. At first, it had a very positive effect on yen, as the
investors
retreated from stocks and risky currencies favoring the safety of
JPY. But then,
the yen has suffered a major drop. Other important fundamental event
was the
series of credit rating downgrades of peripheral Eurozone countries.
Meanwhile,
the major EZ economies, such as Germany and France demonstrated
better than
expected results in March. Foreign participation in the ongoing
Libyan civil war
helped the oil prices to rise even higher than February maximums.
*
Interest rate changes in March*
Country
Old Rate
Change
New Rate
New Zealand
3.00%
-0.50%
2.50%
Chile
3.50%
+0.50%
4.00%
Brazil
11.25%
+0.50%
11.75%
South Korea
2.75%
+0.25%
3.00%
*
Top 5 Forex brokers of the last month*
The top 5 Forex brokers, as rated by the visitors of EarnForex.com
<http://www.earnforex.com/>
are the following:
Exto Capital <http://www.earnforex.com/forex-brokers/ExtoCapital>
— 7.9
Trading Point <http://www.earnforex.com/forex-brokers/TradingPoint>
— 7.0
4RunnerForex <http://www.earnforex.com/forex-brokers/4RunnerForex>
— 6.6
Dukascopy <http://www.earnforex.com/forex-brokers/Dukascopy>
— 6.5
1pipfix <http://www.earnforex.com/forex-brokers/1pipfix>
— 6.3
To qualify for the position in this top 5 rating a Forex broker
should have at least 5 votes. Don't forget to rate your favorite
broker <http://www.earnforex.com/forex-brokers/>
if you haven't done so already.
*
Forex e-books*
No new Forex books have been published on EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously
uploaded books <http://www.earnforex.com/forex-e-books/>
.
*
Forex articles*
No new Forex articles have been published on EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously
uploaded articles <http://www.earnforex.com/forex-articles>
.
*
Forex brokers*
Two new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
Profiforex <http://www.earnforex.com/forex-brokers/Profiforex>
— a Forex broker based in Seychelles; offers rather standard
"MetaTrader offshore broker" conditions, which are very
newbie-friendly. Also supports gold trading.
Universal FX <http://www.earnforex.com/forex-brokers/UniversalFX>
— a Swiss Forex broker with regulation by ARIF. Entry conditions
are quite limiting ($2,000 minimum and no micro-Forex), but the
variety of trading software is impressive.
You can always view our full
list of Forex brokers <http://www.earnforex.com/forex-brokers/>
.
*
Forex VPS providers*
One new Forex VPS provider has been added to EarnForex.com
since the last issue of the newsletter:
Forex EA VPS <http://www.earnforex.com/forex-vps-hosting/ForexEAVPS>
— a Bulgarian VPS company with very attractive conditions for
Forex traders. Also offers free EAs.
You can always browse the previously
added VPS companies <http://www.earnforex.com/forex-vps-hosting>
.
*
MetaTrader indicators*
No new MetaTrader indicators have been added to EarnForex.com
since the last issue of the newsletter, but you can always view the
previously uploaded
Forex indicators <http://www.earnforex.com/metatrader-indicators>
.
*
MetaTrader expert advisors*
No new expert advisors have been added to EarnForex.com since
the last newsletter issue, but you can always browse the previously
added
MetaTrader EAs <http://www.earnforex.com/metatrader-expert-advisors/>
.
*
Forex polls*
Two new polls have been posted on the EarnForex blog
<http://www.earnforex.com/blog/>
:
Fundamental Indicators in Forex — Which To Use?
<http://www.earnforex.com/blog/2011/03/fundamental-indicators-in-forex-which-to-use/>
Different Stop-Loss Types — Which To Use?
<http://www.earnforex.com/blog/2011/03/different-stop-loss-types-which-to-use/>
You can also browse the full list of
Forex polls <http://www.earnforex.com/blog/tag/forex-poll/>
from
EarnForex.com.
*
Forex strategies*
No new Forex strategies have been added to EarnForex.com since
the last issue of the newsletter but you can also browse the
previously added
Forex strategies <http://www.earnforex.com/forex-strategy/>
.
*
Forex industry news*
There were the following important Forex industry news in
March:
MetaQuotes <http://www.metaquotes.net/>
has added a 3D visual model of the EA optimization results in their
MT5 Strategy
Tester.
EarnForex.com launched
daily Elliott
Wave video analysis
<http://www.earnforex.com/elliott-wave-analysis-video/>
section.
*
Until next newsletter issue!*
That's all for the April issue of the EarnForex.com
newsletter. If you have questions, comments or just want to see
something else
in the next monthly issue, please contact me
<http://www.earnforex.com/contact>
.
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