Category Archives: Books, Websites and Useful Resources

FX Rates and Graphs

There are lots of FX rates available online and free graphing of “live” fx rates.

Many of these come from trading platforms, others via exchanges, and other information providers.

Consider the source of your data

It’s important to consider:

  • Why they are providing the data
  • The cost of the data
  • Whether the data is live, delayed, indicative, tradeable
  • The display of the data
  • The currency of the prices
  • The timezone of the data (London, Paris, Tokyo, New York – what is 9am?)

Also consider why you are looking at the currency

  • Are you doing a short term trade
  • A long term currency play
  • Ensure you review both the short term (mins, hours) and long term (weeks, months, years) trends

What’s the base currency?

Currency rates are usually displayed with the USD cuurency as the base currency. It’s important to know what the currency you are looking at is being quoted against.

Example of Graphs

This is an example of a Candle Graph showing the GBPUSD at 15minute intervals, and below 1 minute intervals. Notice the difference in the graphs.

Essential News and Information Sources

Keeping up to date, with the latest news in general, currency movements, economic indicators and other factors which can impact the markets, and traders views is essential.

General News Sources

The BBC website is very useful, and is a well established news source. This covers a large variety of content, the business section is more specialised.

The Financial Times is a good website for financial and general news, as well as assessing sentiment.

Reuters and Bloomberg are good information sources but to get up to date information you need to pay for a feed, which isn’t practical for most traders.

Forex , FX, Currency News

Forex News Macroeconomic views how the the economic calendar and central banks can affect the currency markets.

FX Street – daily listing of major daily currency analysis and forecasts with support and trading suggestion forecasts.

Currency Pro – A Forex Portal with strong analysis on the Major Currency pairs.