EURUSD despite the extreme spike low, bulls did manage to recover. Flag pattern formed after downswing, it can suggest another short term downswing, however this pair is looking positive and resistance line can be tested today.
Monthly Archives: November 2009
Analysis of All Currencies Down Under
The Aussie continues to strengthen against the Greenback and is now retesting short term resistance at .9343.
Federal Reserve Chairman Makes Rare Comments On US Dollar Value
Traditionally, the US Federal Reserve doesn’t often comment on the value of the US currency abroad.
Controlling Forex Drawdowns
If you were to lose 50% of your account on a single trade, going from $10,000 to just $5,000, as a result of an unexpected market move, you would then need to gain 100% just to recoup your initial position. This is known as a drawdown and it can have an insidious effect on your account balance.
Correlation in Forex Trading
In pure terms, correlation is the measured relationship between two units over a series of time. Correlation is measured on a range of -1 (perfect negative correlation) to 1 (perfect positive correlation).