This is your monthly EarnForex.com newsletter.
To cancel your subscription, please use the link at the bottom of this message.
EarnForex.com Monthly Newsletter
| | | | Welcome to the latest issue of EarnForex.com newsletter — July 2016. 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: Scalping vs. Swing Trading | | One of the main decisions traders do early in their careers is whether they are going to be scalpers or swing traders. In short, scalping is doing a lot of trades intraday, while swing trading is doing trades that last for days. Of course, there are many gradations that can fit between a scalper and a swing trader, and one trader may engage in trading using both these styles. However, those two types trading are discernible enough and each offers its own advantages and disadvantages. Scalping is good for you if: - You like watching charts a lot.
- You want to perform many trades, which means higher result stability due to lower dependence on each trade's outcome.
- You want to trade price action in all its glory —; when the price quickly reacts to important levels and quickly creates new such levels.
- You do not mind paying a hefty share of your profits as spread or commission to your broker.
Swing trading is good for you if: - You want to analyze charts only several times a day or even weekly.
- You want to trade using fundamental factors in addition to technical analysis.
- You prefer minimizing the part of losses from spread and commission.
- You do not care for lower performance stability due to a relatively small number of trades per year.
In my opinion, the main decision between scalping and swing trading is for the trader to make based on one's preferred analytical methods, access to market, technologies, personality, and lifestyle. It is important to understand that both methods work, but they are two very different ways to approach Forex trading. | | Overview of the major currency pairs' performance in June | | EUR/USD — rose initially and then fell dramatically on June 24 after a period of sideways market, slightly recovering afterwards. It was at the maximum at 1.1426 on June 24, at its minimum at 1.0911 on June 24, finishing the month at 1.1105. GBP/USD — went down and up before June 24, then dropped straight down, ending the month with a small consolidation. The highest monthly rate was at 1.5016 on June 24, while the lowest — at 1.3120 on June 27. GBP/USD finished June trading at 1.3311. USD/JPY — was in a downtrend during the whole month. The pair rose to as high as 110.83 on June 1, reaching a bottom at 98.97 on June 24 and closing the month with the 103.15 rate. EUR/JPY — declined during June and posted a significant fall during June 24 session. The monthly high was at 123.31 on June 1, the monthly low — at 109.20 on June 24. Trading ended at 114.55 for this currency pair. GBP/JPY — fell then rose before June 24, then dived to the bottom before posting a minor consolidation. The maximum level for this pair was 160.65 on June 1, while the minimum — 133.23 on June 24. The month's trading ended at 137.23 for GBP/JPY. | | Fundamental background of the past month | | The most important event in June was Britain's referendum about leaving the European Union. The outcome shocked the markets as Britons voted for exiting the Union. Unsurprisingly, the Great Britain pound sank after that. Signs of incoming monetary easing were not helpful to the currency either. June started with bad news for the US dollar in the form of extremely poor nonfarm payrolls. And while the greenback found some demand as a safe haven thanks to the Brexit, the currency has lost support from the monetary tightening outlook as chances for higher interest rates from the Federal Reserve all but evaporated after the British referendum. The euro also suffered from the Brexit and the resulting concerns about the future of the EU, though the currency had its own problems due to the weakness of the eurozone economy. The Japanese yen profited from the risk-negative sentiment caused by the Brexit as well as from the passiveness of Japan's central bank. It is important to note that many analysts anticipate some form of easing from the Bank of Japan in the near future, especially after the yen has surged. The Canadian dollar continued to follow crude oil, and while it was hurt by the Brexit fears, the currency ended the month with a decent performance. The same could be said for the Australian and the New Zealand currencies as well. The former was especially strong. Gold profited from the Brexit both due to demand for safer assets and due to diminished chances for monetary tightening from the Fed. | | Interest rate changes in June | | Indonesia | 6.75% | -0.25% | 6.50% | | Mexico | 3.75% | +0.50% | 4.25% | | Russian Federation | 11.00% | -0.50% | 10.50% | | South Korea | 1.50% | -0.25% | 1.25% | | Turkey | 9.50% | -0.50% | 9.00% | You can see the current interest rates by the world's central banks in our interest rate table. | | One new MetaTrader indicator has been added to EarnForex.com since the last issue of the newsletter: You can always view the previously uploaded Forex indicators. | | Top 5 Forex brokers of the last month | | One new Forex article has been published on EarnForex.com since the last issue of the newsletter: You can always browse the previously uploaded articles. | | Four new Forex brokers have been added to EarnForex.com since the last issue of the newsletter: - Trade Fintech — an unregulated company from the United Kingdom. It combines spot Forex trading and binary options trading in a single account. The minimum account size is $250. Trading is done in MetaTrader 4 platform.
- TempletonFX — an FCA-regulated ECN broker with $2,000 minimum account size, unknown commission size, and 1:400 leverage on Forex pairs.
- Atiora — an offshore (St. Vincent & the Grenadines) company with ECN accounts starting from $50. Trading is done in MT4 and the maximum leverage is 1:100.
- ECN PRIME — an unregulated offshore company positioning itself as a pure ECN trading facility. It offers Forex accounts starting from $100 with such trading platforms as MetaTrader 4, Currenex Viking, and cTrader. Leverage on currency pairs can be as high as 1:400.
You can always view our full list of Forex brokers. | | There were the following important Forex industry news since the last issue of the newsletter: - Spotware upgraded its cTrader platform to allow swap-free accounts. Now, brokers that offer cTrader in their accounts can provide interested traders with Islamic Forex accounts.
- The Forex brokers weathered the Brexit event quite well after reducing the leverage on GBP and EUR currency pairs. As of today, no significant negative balance occurrence is reported by the major brokers. Most of the brokers have already restored margin requirements to previous levels.
- Vinson Financials renounced its CySEC license.
| | Until the next newsletter issue! | | That is all for the July issue of the EarnForex.com newsletter. If you have questions, comments or just want to see something else in the next monthly issue, please let us know. | | |
--
If you do not want to receive any more newsletters, please click this link: Unsubscribe
To update your preferences and to unsubscribe visit this link
Forward a Message to Someone this link 
|
ليست هناك تعليقات:
إرسال تعليق