Author: Editorial Team

ForexPromos Editorial Team is comprised of a selection of hand picked editors that bring you the latest breaking news from the financial markets. We also provide forex educative articles as well as comprehensive fx broker reviews.

Weekly Currency Index Technical Analysis – 05 January

Weekly Currency Index Technical Analysis – 05 January

Technical Analysis
Currency Index Notes AUDLFX Bearish flag on weekly with reversal near 127.2%. Expecting a rally to 100% - 78.6% correction. No strong candlestick patterns noted Conclusion: Medium term bullish correction on a larger bearish trend. CADLFX Price broke out from a medium term trend line, dipped to retest break out level and resumes uptrend. Price action tricky as 3 weeks ago, PL pattern was formed, followed by last week's bearish engulfing/DCC pattern. Price above 52 EMA, so we could see a decline to test the 52 EMA + trend line confluence. Conclusion: Short term bearish on a larger bullish price action CHFLFX Price broke out from a major rising trend line, indicating a bearish shift to sentiment. After break out, price rallied to retest the break out l...
What is the TLTRO and how is it different to LTRO

What is the TLTRO and how is it different to LTRO

Financial Markets Explained
The ECB recently concluded its first round of TLTRO or targeted long term refinancing operations, which turned out to be anti-climatic. Against an estimated 150bn Euros up for grabs, banks managed to take only 82bn Euros in TLTRO loans from the ECB. The question that might come to one's mind is what is the TLTRO and how is it different from the regular LTRO scheme that is well in place by the ECB. The TLTRO was first announced at the ECB's June 2014 monetary policy meeting where ECB Chief, Mario Draghi unveiled a slew of measures to tackle the high exchange rate and the threat of deflation in the Eurozone. Back then, the ECB allocated a total of €400bn Euros in targeted long term refinancing operations to ease up liquidity in the Eurozone banks. How is TLTRO different to LTRO? The TLT
Identify trends correctly with the 4-week rule

Identify trends correctly with the 4-week rule

Trading Strategies
Trends in the currency markets are one of the most important and basic elements to trading. Incorrect recognition or interpretation of trends can have a devastating effect on traders. Like a slow moving trading, the equity can be easily depleted without knowing what happened until the last dollar disappears from your trading capital. Trends, however seem to carry an element of subjectivity and are well represented by the many confusing articles that seem to claim to be the authority on trends. So how does one define a trend and why is it important to figure out the trend first? Why you need a trend (when trading) A trend is defined as “a general direction in which something is developing or changing”. In the context of the currency markets, trends are nothing but the general direction in
Parabolic SAR and Stochastics MTF Trading System

Parabolic SAR and Stochastics MTF Trading System

Trading Strategies
The Parabolic SAR is a versatile trading indicator which can be effectively used as a trailing stop indicator. It forms a kind of trend following strategy and works best when markets are in a strong trending mode. When combined with the Stochastics oscillator, which basically oscillate between overbought and oversold conditions, thus representing rising and falling momentum, the Parabolic SAR and Stochastics trading system can make for a very unique trading system in itself. This unique approach is further enhanced with a contrarian approach of using multiple time frames. Using the well known approach of using a higher time frame to determine trends, the MTF approach is rather simple. Parabolic SAR and Stochastics Chart Set ups The chart set up is very simple and the Parabolic SAR as ...
ForexFalcon – A profitable EA for trading fake-outs in forex

ForexFalcon – A profitable EA for trading fake-outs in forex

Trading Platforms & Software Reviews
ForexFalcon is a new automated trading software designed to work with MT4 trading platforms. The ForexFalcon Expert Advisor trades on a unique concept of trading fake outs. Live test results of this profitable EA has shown to make on average of 8% return on a monthly basis with a 16% draw down. Having a profit factor of 2.47, ForexFalcon EA trades the fake out patterns that occur regularly on the forex charts. Designed to work with 18 currency pairs (a mix of both majors and minor crosses), ForexFalcon’s EA performance test results on a live trading account over the past four months has shown consistent returns, making this a serious and a profitable EA for traders who are looking for automated trading solutions. ForexFalcon EA – How it works The ForexFalcon EA makes use of the Ma