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EarnForex.com Monthly Newsletter
*October 5, 2011*
Welcome to the latest issue of EarnForex.com newsletter — October
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 September*
*EUR/USD* — September was a disastrous month for the euro, so this
pair headed straight down. It was at its maximum at 1.4380 on
September 1, at its minimum at 1.3361 on September 26, finishing the
month at 1.3388.
*GBP/USD* — was very bearish during the month but managed to
recover a bit during the last few days. The highest monthly rate was
at 1.6255 on September 1, while the lowest — at 1.5327 on September
22. GBP/USD finished August trading at 1.5584.
*USD/JPY* — moved sideways in September. The pair rose to as high
as 77.85 on September 9, reaching a bottom at 76.10 on September 22
and closing the month with the 76.98 rate.
*EUR/JPY* — declined almost the same way as EUR/USD. The monthly
high was at 110.96 on September 1, the monthly low — at 101.91 on
September 26. Trading ended at 103.09 for this currency pair.
*GBP/JPY* — behaved similarly to GBP/USD. The maximum level for
this pair was at 125.34 on September 1, while the minimum — at
116.83 on September 22. The month's trading ended at 119.96 for
GBP/JPY.
*
Fundamental background of the past month*
September was full of important fundamental market events that
had a dramatic influence on the currency pairs. Beginning of the
month. First,
German ruling Christian Democratic Union has
lost
local elections
<http://www.topforexnews.com/2011/09/05/euro-sinks-after-merkels-party-loses-election/>
in several
states. Second, the Swiss National Bank announced that it will
keep
EUR/CHF rate above 1.2000
<http://www.topforexnews.com/2011/09/06/record-drop-of-franc-after-snb-pegs-currency-to-euro/>
at all costs, virtually pegging the Swiss franc to the euro.
Third, ECB President Jean-Claude Trichet used
very
pessimistic words
<http://www.topforexnews.com/2011/09/09/ecb-keeps-rates-unchanged-euro-falls/>
in his speech following the monetary policy decision announcement.
Then, Greece
entered a state very close to default, with little visible solutions
for it get
out of the debt crisis. Fortunately, the latter troubles were
resolved by the
end of the month with
new
powers granted
<http://www.topforexnews.com/2011/09/29/risk-appetite-appears-helping-euro-in-forex-trading/>
to the European bail-out fund and
Greece
passing new property tax
<http://www.topforexnews.com/2011/09/28/euro-continues-its-4-day-rally-on-new-prospects-for-stability/>
.
*
Interest rate changes in September*
No interest rate changes in September.
*
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:
SunbirdFX <http://www.earnforex.com/forex-brokers/SunbirdFX>
— 8.3
MF Global <http://www.earnforex.com/forex-brokers/TradeAtMan>
— 8.3
Gallant Capital Markets
<http://www.earnforex.com/forex-brokers/GCMFX>
— 8.3
FinFX <http://www.earnforex.com/forex-brokers/FinFX>
— 8.2
Gedamo Investment
<http://www.earnforex.com/forex-brokers/GedamoInvestment>
— 8.1
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*
Two new Forex articles have been published on EarnForex.com since
the last issue of the newsletter:
REST - the Key to Success in Financial Investments
<http://www.earnforex.com/articles/rest-the-key-to-success-in-financial-investments>
— by Chinedu Ilobinso
Market Mechanics - Understanding Market Movements in the Foreign
Exchange Market
<http://www.earnforex.com/articles/market-mechanics-understanding-market-movements-in-foreign-exchange-market>
— by Chinedu Ilobinso
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:
Axiory <http://www.earnforex.com/forex-brokers/Axiory>
— a Forex broker from Seychelles with MetaTrader and MirrorTrader
platforms. Minimum account is $500 deposit only via wire transfer. The
US residents aren't allowed to join.
FXFlat <http://www.earnforex.com/forex-brokers/FXFlat>
— a European Forex broker with German and Luxembourg regulation.
Offers accounts from $500 with micro-lots and medium spreads. Doesn't
accept traders from the United States and Canada.
You can always view our full
list of Forex brokers <http://www.earnforex.com/forex-brokers/>
.
*
Forex VPS providers*
Two new Forex VPS providers have been added to EarnForex.com
since the last issue of the newsletter:
HostPlate <http://www.earnforex.com/forex-vps-hosting/HostPlate>
— Forex VPS hosting from Sweden with servers located in
Netherlands. €19.99/month minimum price, payable via PayPal,
AlertPay and Moneybookers.
LinkUpHost <http://www.earnforex.com/forex-vps-hosting/LinkUpHost>
— Bulgarian VPS with PayPal and Liberty Reserve payment options.
Cheapest plan starts at $22/month. 30-day money-back guarantee is
offered.
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/>
:
Can SNB Hold EUR/CHF Above 1.2000?
<http://www.earnforex.com/blog/2011/09/can-snb-hold-eurchf-above-1-2000/>
Is It All Over for Gold?
<http://www.earnforex.com/blog/2011/09/is-it-all-over-for-gold/>
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/>
.
*
Forum*
Top 5 hot topics on EarnForex Forum <http://www.earnforex.com/forum/>
started in September:
Easy journal <http://www.earnforex.com/forum/f9/easy-journal-7944/>
How to Trade Gaps (with irony)
<http://www.earnforex.com/forum/f8/how-trade-gaps-irony-7995/>
Random indicators
<http://www.earnforex.com/forum/f12/random-indicators-8052/>
Can one earn a living from Forex?
<http://www.earnforex.com/forum/f26/can-one-earn-living-forex-8010/>
3rd Generation Moving Average (Least possible lag)
<http://www.earnforex.com/forum/f12/3rd-generation-moving-average-least-possible-lag-7896/>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
CFTC
sues 11 more FX companies
<http://www.cftc.gov/PressRoom/PressReleases/pr6108-11.html>
over violation of rules set by Dodd-Frank
act.
ATC 2011 <http://championship.mql5.com/>
trading has started
and will continue until December 23.
CFTC orders <http://www.cftc.gov/PressRoom/PressReleases/pr6119-11>
FXCM <www.earnforex.com/forex-brokers/FXCM>
to pay $6 million as a
civil monetary penalty due to company's failure to monitor handling
of customer
accounts properly.
*
Until the next newsletter issue!*
That's all for the October 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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