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EarnForex.com Monthly Newsletter
*July 1, 2014*
Welcome to the latest issue of EarnForex.com newsletter — July
2014.
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.
*
EDITORIAL: Approaching New Indicators*
From time to time you will be stumbling upon some new technical
indicators in Forex — either free or paid ones.
It is important to remember the following points when you find
something new and promising:
*Testing* — first and foremost, you must find some way to test the
indicator's effectiveness. If the new indicator is advertised as a
better substitute for some other (e.g. some advanced form of a Moving
Average), you should be able to test it against that old indicator and
get consistent results of higher profit or smaller losses, or whatever
else you expect from it. If it is a completely new indicator, without
a clear predecessor, you still can test but against the random
signals.
*Consistency* — does the indicator show consistency or does it only
work under very specific conditions? You do not want get it to real
account trading before you find out.
*Resources* — does the indicator require some particularly expensive
resources? For example, it could require a lot of CPU power for
calculation, or some external data feed, or a lot of interaction with
the trader.
In case of free indicators
<http://www.earnforex.com/metatrader-indicators>
, there is no big problem here — you can test indicator and, in the
worst case, waste just time on that. However, if you are going to buy
one, you need to be able to check all the above-mentioned points
before spending money. Alternatively, a reputable money back guarantee
would work too.
*
Overview of the major currency pairs' performance in June*
*EUR/USD* — rose up after a modest decline during the first decade
of the month. It was at the maximum at 1.3697 on June 30, at its
minimum at 1.3502 on June 5, finishing the month at 1.3692.
*GBP/USD* — remained in a pretty strong uptrend during the whole
month. The highest monthly rate was at 1.7114 on June 30, while the
lowest — at 1.6698 on June 4. GBP/USD finished June trading at
1.7105.
*USD/JPY* — declined with almost no upward days in June. The pair
rose to as high as 102.79 on June 4, reaching a bottom at 101.23 on
June 30 and closing the month with the 101.32 rate.
*EUR/JPY* — traded sideways following a drop during the first 10
days. The monthly high was at 140.08 on June 9, the monthly low — at
137.70 on June 16. Trading ended at 138.72 for this currency pair.
*GBP/JPY* — posted two classic bullish waves and bearish corrections
to form an uptrend in June. The maximum level for this pair was 174.07
on June 20, while the minimum — 170.42 on June 2. The month's
trading ended at 173.29 for GBP/JPY.
*
Fundamental background of the past month*
June was a rather poor month for the US dollar, which posted a third
monthly loss versus the Japanese yen. While initially that
the greenback should be supported by fundamentals,
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