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EarnForex.com Monthly Newsletter
*June 1, 2011*
Welcome to the latest issue of EarnForex.com newsletter — June
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 May*
*EUR/USD* — declined in a downtrend during almost whole month but
entered a bullish correction near the end of it. It was at its maximum
at 1.4939 on May 4, at its minimum at 1.3969 on May 23, finishing the
month at 1.4394.
*GBP/USD* — followed the same general pattern as EUR/USD. The
highest monthly rate was at 1.6737 on May 2, while the lowest — at
1.6058 on May 24. GBP/USD finished April trading at 1.6450.
*USD/JPY* — resembled a cosine function in May (down, up, up,
down). The pair rose to as high as 82.22 on May 19, reaching a bottom
at 79.56 on May 5 and closing the month with the 81.50 rate.
*EUR/JPY* — demonstrated an L-shaped chart in May. The monthly high
was at 121.02 on May 2, the monthly low — at 113.41 on May 16.
Trading ended at 117.32 for this currency pair.
*GBP/JPY* — showed an almost perfect V-shaped pattern last month.
The maximum level for this pair was at 136.10 on May 2, while the
minimum — at 130.27 on May 13. The month's trading ended at 134.07
for GBP/JPY.
*
Fundamental background of the past month*
Assassination of Osama bin Laden, silver bubble collapse and
dovish statements by ECB — all marked the beginning of this
interesting month in Forex trading. Further rumors of the possibility
to leave
the Eurozone and subsequent credit rating downgrade played a major
role in
euro's decline through the major part of May. By the end of the
month, euro
bulls gained confidence due to the China's plans to diversify
investments to
currencies other than dollar.
*
Interest rate changes in May*
Country
Old Rate
Change
New Rate
Chile
4.50%
+0.50%
5.00%
Norway
2.00%
+0.25%
2.25%
Poland
4.00%
+0.25%
4.25%
Russia
8.00%
+0.25%
8.25%
*
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:
AccentForex <http://www.earnforex.com/forex-brokers/AccentForex>
— 8.0
MF Global <http://www.earnforex.com/forex-brokers/TradeAtMan>
— 6.3
Dukascopy <http://www.earnforex.com/forex-brokers/Dukascopy>
— 6.1
ATG <http://www.earnforex.com/forex-brokers/ATG>
— 6.1
AFM <http://www.earnforex.com/forex-brokers/AdvancedFinancialMarkets>
— 6.1
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*
Three new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
SunbirdFX <http://www.earnforex.com/forex-brokers/SunbirdFX>
— an unregulated UK Forex broker with MetaTrader 4 platform and a
heavy emphasis on ECN execution. Trading can be started with just
$100.
Real Forex <http://www.earnforex.com/forex-brokers/RealForex>
— another unregulated UK broker that also offers ECN execution
with MetaTrader 4 platform. But the minimum account here is $2,000.
Bloombex <http://www.earnforex.com/forex-brokers/Bloombex>
— a Forex broker based in Singapore. Offers trading services
through a proprietary trading platform based in the web browser.
Offers accounts from $100 but has pretty high spreads.
You can always view our full
list of Forex brokers <http://www.earnforex.com/forex-brokers/>
.
*
Forex VPS providers*
No new Forex VPS providers have been added to EarnForex.com
since the last issue of the newsletter, but you can always browse the
previously
added VPS companies <http://www.earnforex.com/forex-vps-hosting>
.
*
MetaTrader indicators*
One new MetaTrader indicator has been added to EarnForex.com
since the last issue of the newsletter:
Dots <http://www.earnforex.com/metatrader-indicators/Dots>
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/>
:
Is It All Over for Silver?
<http://www.earnforex.com/blog/2011/05/is-it-all-over-for-silver/>
How Big Is Your Forex?
<http://www.earnforex.com/blog/2011/05/how-big-is-your-forex/>
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
April:
MB Trading <http://www.earnforex.com/forex-brokers/MBTrading>
tests their own browser-based trading platform.
MIG Bank <http://www.earnforex.com/forex-brokers/MIGBank>
introduces CFD trading.
LiteForex <http://www.earnforex.com/forex-brokers/LiteForex>
now
offers real MT5 accounts, but for now only on Lite (cent) accounts.
Oanda <http://www.earnforex.com/forex-brokers/Oanda>
gets
regulated by FSA <http://www.fsa.gov.uk/>
.
Registration for ATC 2011 <http://championship.mql5.com/2011/en>
has started
<http://www.earnforex.com/blog/2011/06/register-for-automated-trading-championship-2011/>
.
*
Until next newsletter issue!*
That's all for the June 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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