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13/57
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"You have now reached infatuation's final destination—the complete and merciless devaluation of self." -- Elizabeth Gilbert
The above quote may be from Ms. Gilbert's memoir "Eat, Pray, Love" on the subject of spirituality and romance, but it best describes the value and strength of the currencies discussed in this article. Without further ado, the following five currencies make our list of the least valued currencies of this century, with old price quotes and charts dating back only to 1996 when we saw the first generation of Forex online trading platforms available for retail Forex traders via the internet.
Please note, that many other currencies that may have topped or equally been worthy enough to be mentioned here has at some point during the past two decades denominated their currency to reduce the unwieldiness of its old value. Also, more emphasis has been given over each nation's current GDP data ranking among all of the present 187 International Monetary Fund (IMF) members.
#1: Uzbekistani Som
Estimated GDP: 187,947 millions of international$ , RANK: 62/187

One US dollar was equal to 40.00 UZS on the 1st January of 1996 and since it has gained 7487% to an unimaginable excha…
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valeryfedorova avatar

Very good job!

brilliant avatar
brilliant 18 Sep.

nice article nice photoes

Chaudhry77 avatar
Chaudhry77 19 Sep.

nice article and good work

AAARated avatar
AAARated 20 Sep.

nice article and Zimbabwe's new 100 trillion dollar bill would be worth about $300 in U.S

Mani avatar
Mani 14 Oct.

cool

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29/43
Ranking
This next trade on
my real account involved shorting the EURO JPY that continued its downtrend
following the Daily Chart’s Bear Crown formation. This trade was in sync with
other bearish moves against the Euro as the currency continues to decline
amid a deteriorating economic outlook for the Euro zone. Although there is a
consensus that the risk on a trade in the Forex be no more than the 2%-5% range, my strategy
involves risking 15% on each trade because of the high probability of success
of these setups.
 
TRADE SETUP
The Daily Chart
below shows how the recent downtrend on the EURO JPY started with the Bear Crown/Head and
Shoulders pattern at the beginning of July. This was in sync and supported by
the strong bearish trend that was already in place on the Monthly Chart.
 DAILY CHART-RECENT
BEAR SIGNAL
 
MONTHLY CHART-MAJOR
TREND
 
 With the trend
direction already decided, it was then time to wait for an appropriate setup on
the 4H Chart that would allow us to take advantage of the downtrend. This came
in the form of a Pennant that was formed between the 97,25 and 96,33 price
points.
4 HOUR CHART-THE
SETUP
 It was important
that this setup be strong enough to give the trade a hig…
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kostas19 avatar
kostas19 25 July

Trend lines are underrated with all these studies... good stuff

DaddyPapi avatar
DaddyPapi 27 July

gracias...very useful indeed

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26/43
Ranking
A small trade
was executed on the EURO CAD last week as part of the strong bearish breakout
from the Daily and Weekly Consolidations that had started the previous week.
This was done using the methodology outlined in my previous article which
involves using the 4 Hour and 30 Minute Charts for entries after the Daily
Chart has given a signal for the start of a trend.
DAILY CHART
 
WEEKLY CHART
With these strong
bearish signals indicating the start of a new breakout trend, the 4H Chart then
provided the first strong entry setup in the form of a Descending Pennant.
 
4H CHART
 
Eventually, the 1,2490 Support of this Pennant was broken by a 30 Minute Candle to indicate the start of the
breakout. With the Stop Loss placed above the high of a Counter Trend Line
(CTL) that was also broken, the trade was entered at 1.2480 with an initial
Limit set to the long-term target of 1.2000. 30 MINUTE CHART - ENTRYThis 1,2000 target was more enticing to
me than ´settling´ for the 100 pip target of 1.2380 which is part of my
strategy. However, I humbled my self and returned to my rules and decided to
exit early instead. By that time however, the market had pulled back slightly
above the 100-Pip area,…
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mbarbuska avatar
mbarbuska 19 July

hmm, interesting :)

projectx44 avatar

forex community is thankful for this article....http://www.fxcommunity.com

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28/68
Ranking
The aggressive
short-term trading strategy explained in my last article was recently applied to
the EURO AUD last week when the Euro experienced significant losses against
other major currencies. The lukewarm response to the Spanish bond auction
renewed fears about the economic outlook for Europe
and its common currency, leading to declines against the USD, Aussie, Pound and
Canadian Dollar.
 
More trades such
as this are likely in the weeks ahead as the Euro loses more strength
against the majors. Although we might actually see a brief rally this week as
the pairs retrace in favour of the Euro, this is likely to be temporary ahead
of further declines towards the end of April.
 
EURO AUD
 
On April 5th, the 4H Chart
had formed a Descending Pennant at a major downtrend line and broke an Inner
Uptrend Line to signal a strong possibility of a pullback. The other reasons to
have expected a decline were that
 
the pair was at the end of its average Weekly Range of 500 pips
it was also just below the Support of the Weekly
Chart’s Range which normally leads to a pullback
the Euro had already started to decline
significantly against other pairs earlier in the week.
 
 
4 …
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positive avatar
positive 11 Apr.

I too use trendlines from higher TF's to set up trades on lower TF's . +1

belman avatar
belman 15 Apr.

good luck+1

kkforex avatar
kkforex 19 Apr.

Good luck 1+

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