forex trading

Fastbrokers expert review

2010-04-01T05:46:00.001-07:00

Fastbrokers is a regulated forex broker providing an absolutely unique combination of cheap ECN trading (non-dealing desk trading) and the MetaTrader 4 trading platform. Before my full review of Fastbrokers, here is the bottom line:

Pros

an American forex broker registered with NFA and CFTC
ECN trading with no dealing desk
low spread
microlots
sophisticated forex trading platform (MetaTrader 4)
suitable for automated trading (including free hosting of expert advisors and API)
gold, silver, oil, futures
payment options (bank wire, credit card, PayPal, check)
quick and efficient customer support
no additional fee for an Islamic swap-free forex account

Cons

low number of exotic currency pairs
forex trading accounts held only in USD
a rather high minimum deposit for an ECN trading account

Recommended for

technical trading
scalping and high frequency trading
news trading
automated trading

Not recommended for

trading of exotics

Why is an ECN forex broker better than a market maker?

Most forex brokers are “market makers”. Only very few brokers offer Electronic Communications Network (ECN) trading. A good comparison of these two business models can be found here. In short, an ECN forex broker provides every trader, big and small, with an access to the interbank market. As a result, the spread paid by a trader is much much lower. Another advantage is transparency. An ECN broker does not trade against its clients, does not hunt their stop loss orders, does not manipulate the price. ECN trading has been traditionally reserved for institutional traders, such as Deutsche Bank. Fastbrokers is one of the few companies that bring ECN to small individual forex traders.

Low spread

During the normal trading conditions, spreads offered by Fastbrokers are among the lowest I have seen in the industry. For example, the spread on USD/JPY regularly decreases to less than 1 pip. Unfortunately, these moments are not as frequent these days as I would wish. On the other hand, even the usual spread on majors is around the levels offered by other low-spread forex brokers.

News trading

Of course, I am talking about the typical spread because Fastbrokers’ variable spreads widen during news announcements. Since I do not trade news, I cannot really comment on whether this widening is better or worse than elsewhere. I only traded once AUD/JPY during the Australian news and the spread widened… surprise, surprise… by “staggering” 2 pips. At the exact same time, OANDA had already widened its spread on the same pair by 6 pips (and later by 30 pips). If this experience was not just an accident, Fastbrokers can make news trading ridiculously cheap. My observations also indicate that Fastbrokers widen their spread only during really important news announcements, while other low-spread forex brokers usually widen their spreads whenever they have a problem with liquidity. For example, OANDA’s spread on GBP/USD at night is usually 50% or even 100% higher than the spread charged by Fastbrokers.

MetaTrader 4

Fastbrokers use the popular MetaTrader 4 (MT4) as their forex trading platform. MetaTrader has all the features you can ever ask from a trading platform: a huge number of technical indicators, all sorts of orders (including orders with a trailing stop), and hedging. Perhaps the most attractive feature is automated trading based on little programs called expert advisors (EA). Fastbrokers accommodate automated trading in an unprecedented way. They host expert advisors for free on their server, so you will not miss a trade even if your computer is currently offline. Just to compare with another major forex broker, OANDA’s fee for a similar service is $600 per month. If you have a sound forex trading system, but you know nothing about programming, Fastbrokers even offer an intuitive Expert Advisor Builder on their website.

Safety and regulations

Fastbrokers in an American company with the headquarters in Glendale, California. It is registered with NFA (ID:0342002) and CFTC. I have not had any problem with them so far and various reviews on other blogs and discussion fora are mostly positive.

Choose the right forex trading account

Fastbrokers offer three very different types of forex trading accounts. Serious forex traders would probably choose the “ECN FX Trader” account that provides all the benefits of ECN trading. Using an ECN feed, you can see the depth of market (5 level bid/ask view) and choose the offer with the best spread – often 0 pips! In ECN trading, the counterpart of a transaction is one of the liquidity providers (Goldman Sachs, Citibank, JP Morgan, and Bank of America in this case), not the broker. As a result, Fastbrokers do not face the usual conflict of interest, which compels many market makers (i.e. most forex brokers) to trade against their clients. Instead, Fastbrokers charge a small and totally transparent commission for each trade. Needless to say, the commission is lower than what you would pay as an artificially high spread offered by any market maker. Talking about attractive features, the minimum deposit of $3,500 is much lower than $50,000 at Dukascopy – which would be otherwise my first choice of an ECN broker if not for this high minimum deposit.

The “Professional Trader” account combines ECN style pricing with the MetaTrader 4 trading platform. Again, you get the best spread available, but you pay a small commission to Fastbrokers. In comparison to the previous forex account, the main advantage of the “Professional Trader” account is the MetaTrader trading platform. You can use hundreds of technical indicators and expert advisors while still benefiting from non-dealing desk trading. Since most (if not all) forex brokers with MT4 are market makers, this combination is absolutely unique. Therefore, it is not surprising that the minimum deposit is also a bit higher: $10,000.

Finally, you can opt for a “Retail Trader” account, with no commission, fixed spread, and a dealing desk. The trading platform is again MetaTrader 4. The minimum deposit of only $500 combined with a possibility to trade micro lots makes this option seemingly attractive to a typical small retail trader, but I believe that anyone wanting to trade currencies seriously should aim for either a “Professional Trader” account or for an “ECN FX Trader” account. Although the “Retail Trader” account still features a powerful trading platform and low spreads, the true strength of Fastbrokers lies in the combination of MetaTrader and ECN trading.

Muslim traders can open any of these three accounts in a swap-free “Sharia” mode. What makes the Fastbrokers’ offer to Muslim traders unrivaled is that Sharia accounts are opened and held at no additional fee.

Customer support

I have communicated with Fastbrokers using a live chat on their website and e-mail. The person chatting with me was very knowledgeable, polite, and efficient. When I used e-mail, I got a response in less than an hour. Obviously, I was more than satisfied on both occasions. I have never tried their 24-hour hot line. In addition to English, Fastbrokers also provide support in French, Italian, and Spanish. But I have never tested their customer support in these languages.

More information

You can find some more details about this forex broker at the Forex Learning Site’s Fastbrokers review.

5 cheapest forex brokers with Islamic swap-free accounts

2010-04-01T05:40:00.000-07:00

Shariah, the Islamic law, prohibits interest payment. However, the rollover interest is an integral part of forex trading. How can a Muslim forex trader from Saudi Arabia or the United Arab Emirates trade currencies without violating the religious law? The answer is to find a forex broker willing to offer an account with no overnight interest. Such swap-free accounts are usually offered only to Muslims in order to prevent abuse. To substitute for the revenue from a missing swap, forex brokers also charge a flat fee for this service. The only exceptions is the American forex broker Fastbrokers, which does not charge any additional fee for its Sharia account.

A review of the online forex brokers offering an Islamic account follows. The list of Islamic forex brokers was created using an interactive comparison of forex brokers. I included only forex brokers that offer Islamic swap-free accounts, charge no commission for forex trading, and are regulated by trustworthy authorities. The five cheapest Muslim friendly brokers are ordered starting with the lowest spread (transaction cost).

#1. Fastbrokers

Fastbrokers is one of the few ECN forex brokers who offer Islamic forex accounts. What do the letters “ECN”, so coveted by forex traders, mean in practice? First, Fastbrokers has no dealing desk that would trade against their clients or requote prices. Second, Fastbrokers’s variable spread can sometimes decrease to zero pips. Alternatively, you can also ask them for a fixed spread, which is a bit higher (2 pips on EUR/USD). But, why would you? Muslim forex traders can trade 19 currency pairs, gold, silver, and futures. Depending on the account, you can choose any leverage from 1:1 up to 200:1. Fastbrokers uses the popular and highly sophisticated MetaTrader 4 trading platform. It supports hedging, trailing stops, automated trading, and mobile trading – a combination, which is still quite rare among forex brokers. Fastbrokers is also the only forex broker that does not charge any additional fee for an Islamic account. You can get more information about this forex broker from the Fastbrokers review.

#2. FXOpen

FXOpen welcomes traders from all Muslim countries. The fixed spread is among the lowest in the industry (2-3 pips on majors). In addition to 30 currency pairs, a Muslim forex trader can also trade precious metals (gold). The available leverage is among the highest (500:1). Since FXOpen’s minimum deposit is only $1 and it the minimal contract size only $100, it is possible to test FXOpen’s live trading platform practically without any risk. The forex trading platform itself is the popular MetaTrader 4 (MT4), which features hedging, trailing stops, and free automated trading (EA). FXOpen also offers mobile trading. Their customer support speaks Malaysian. For more information read the FXOpen review.

#3. eToro

eToro distinguished itself from the rest of the crowd by an easy-to-use, visually-based trading platform. Obviously, their platform appeals more to beginners than to advanced traders. For example, although it supports hedging, eToro does not provide any algorithmic trading. On the other hand, both beginners and advanced traders would be definitely interested in eToro’s fixed spread of 2-3 pips on all majors. It is not so frequent to see a broker offering the fixed spread of 2 pips on USD/CHF. Another attractive feature of this Islamic forex broker is the leverage of 400:1. eToro also provides support in the Arabic language. For more details, see the eToro review.

#4. Finexo

Finexo is a German forex broker, under the oversight of strict German authorities (BaFin). The leverage is 200:1 and the minimum deposit $25. Features of the trading platform include trailing stops and mobile trading. But the spread is higher (2-5 pips for major currencies) than in the previous cases. What is unique, Finexo can communicate not only in Arabic, but also in Turkish. You can find more details in the Finexo review.

#5. Easy Forex

Easy Forex offers the spread of 3-6 pips on majors, which I consider a bit too high. However, they offer a great variety of 182 different currency pairs and precious metals. Another advantage over their competitors is that you can hold an Islamic forex account in one of twelve currencies, not just USD or Euro. The customer support speaks Arabic. Easy Forex offers the 200:1 leverage, a minimum deposit of $100, hedging, mobile trading, but, again, there is no automated trading. If you want to know more about this Islamic forex broker, please read the Easy Forex review.

Currency Trading Strategies

2010-03-08T06:51:00.001-08:00

In this article we will look at different currency trading strategies that can be used effectively to profit from forex trading. A currency trading strategy is just like a sports betting strategy or poker strategy in many respects. The forex market is very volatile in nature, sometimes even completely unpredictable.

With these currency trading strategies, you will avoid the most common pit-falls that many forex traders, expecially beginners fall into. Hence if you want forex currency trading explained in simple terms, then these 9 tips will set you in the right direction.

These simple Currency trading strategies are not only simple, it will also give you a link to a free ebook on how to read charts effectively for sure fire profits!

Fundamental analysis can be used by day-traders who have the time to watch the market to the minute. The forex news and market is particularly prone to short-term movements. Hence, 'timing' is of greater importance as fundamental analysis-based trading requires precise timing totrade the movementsofthe markets.

In business, when you plan your strategy you follow a process of answering questions about your business, where it is now, where you want it to go and how you'll take it there. It's the same with setting strategies for your currency trading business. Consider these three questions and answer them fully and honestly.

Support and resistance levels and trend lines can be plotted on charts to determine price trends or ranges. Momentum indicators can be used to provide additional information about price movement and to determine buy and sell signals. The forex market usually trends strongly so our currency trading strategies are usually trend-trading strategies.

Forex technical analysis is a currency trading strategy that analyses charts in an attempt to forecast future price movements. The process is about analyzing market data, price trends, trading volumes and more in order to make a 'guesstimate' of where the price is heading.

Daily Special instant forex signals on two currency pairs in Europe currency market.

Each of these trading strategies is “transparent” because the rules for executing the underlying trades are explicit. And each of the strategies is easily implemented, in part because they are so well known and straightforward, but also because execution costs in currency markets are so small.

Whenfinding buying or selling points, many currency trading strategies make use of patternsand identifiedsupport and resistance levels, the most important signals in forex trading.There are many other technical indicators and to name a few are the Relative Strength Index (RSI), Commodity Channel Index (CCI), and moving averages.

A good money management principle is never to leverage more than 1/5th of your trading capital at any one time. For example, with $25,000 of trading capital, you should never use more than $5000of yourmargin deposit at any one time, which is about 5 regular sized contracts.

Most forex trading platforms, in addition to including a forex currency converter as well as a free forex charting, also have functionality to program your own trading strategy. You can program it to buy and sell at specific points as well as more advanced programming for advanced forex traders.

An important concept of forex money management is the application of the risk/reward ratio. Before you enter a trade, you need to work out how much you intend to make from that trade and how much you are willing to risk. Generally a risk/reward ratio of about 1:1.5 or greater is necessary.

Then you can test your trading strategy, modify it and hone it. The likelihood that your initial trading strategy is going to work is very slim. Good, successful, money making currency trading strategies are developed over time.

Forex Trading Forum - Discussion Board

2010-03-08T06:48:00.001-08:00

Welcome to ForexFloor's Forum! In order to have complete access to the forex discussion board you will need to create an account. This is free and will only take a couple of minutes. Registered members will have complete access to the currency trading forum where they can participate in discussions about forex trading, exchange ideas and converse with other people about forex trading strategies. It is a great resource that also reviews software and books. It is a central location that is valuable conduit for all forex traders. Make sure to read the forum guidelines to become familiar with the regulations.

Forex Trading Guide For Beginners

2010-03-08T06:41:00.000-08:00

What is Forex?
Foreign Exchange or Forex is a globally trusted market used for the trading or exchange of currencies of different countries. It is the world’s largest financial market. Millions of people from different walks of life are an active part of Forex or foreign exchange market. With the passage of every year, the Forex market is growing in size and becoming more accessible to common people. It is the market of 21st century and million of people from all over the world are relaying on it to achieve their financial goals. With the advancement in the technology and communication science, Forex has become a huge market but still it has more potential of growth and rise. In the years to come, it may become the trade of choice for many traders. The new generation of traders and investors is seeking exciting opportunities in Forex trade.The most important cause for the failure of Forex traders is their lack of Forex training. A quality Forex Education or Training helps the Forex traders to improve their trading abilities and skills. Only a well educated or trained Forex trader understands the complexities and subtleties of Forex trade. Proper Forex training teaches the trader a sound trading strategy and an effective approach to currency trading. A qualified Forex trader can explore the opportunities much easily and extensively.

What should be done before London open?
A quality Forex training focuses on the market timing effect on trading and liquidity. The time when London market starts its proceedings is the busiest time of the market. The London market’s startup time has a great effect on Forex market. No education or training system can neglect the importance of analyzing the effect of London’s Forex market’s opening and closing. There are some key points which are very handy to analyze the effect of London market on Forex market. These should be checked, half an hour before the startup of the London market. They are given as below:

Key Points before London open
• if the MACD (Moving Average Convergence / Divergence) indicators are not on the 4 hour and 1 hour then a careful or cautious approach is the better strategy.
• Divergence of the security price from the MACD is a clue that current market trend is going to over.
• A Fibonacci calculation on the last up and down trend help to know if price is going backwards to its initial position or it is heading towards an extended level.
• It is necessary to have knowledge about expected economic reports as they greatly influence the market.
• if the candle nears on the fifteen minute chart at London startup, try to observe the tweezers or doji’s patterns or hammers which indicates the fall of price
• Risk analysis and defining a proper stop is also essential to check

Conclusion:

Before a few minute of London startup, the above factors can help to make decision of trading or holding back. Performing a daily analysis on London open is a handy way to improve the Forex trading skills. There is no hard and fast rule for Forex education. Success with Forex trading comes with experience, practice and learning new skills. With getting experienced, a trader get more disciplined and controlled in his emotions which is a must trait for Forex trader.

Citigroup and the Government to Put Limit in Losses in the Forex Market

2010-03-08T06:32:00.000-08:00

Citigroup and the Government to Put Limit in Losses in the Forex Market

The rumors have been going on: Citigroup, one of the largest financial services companies in the world, is currently thinking of cutting back jobs, which means that there will be thousands of employees all over the world who will be losing their jobs before Christmas.

It is definitely such a huge threat, and for that, the government is thinking of helping the company to make sure that they can limit their losses in the forex market. Because the currency rates are falling, they have already garnered toxic assets. So far, the company has already garnered over $100 billion of it, after their shares have already lowered down and they eventually lost. This, in turn, definitely hurt the company, thereby forcing them to think of reducing the costs extensively.

As of the moment, the Treasury Department and the Federal Reserve are already in the talks with the Citigroup. There are also several U.S. regulators that have joined in the discussion. They have been in meeting during the entire weekend, and the results may be released this week, probably on Monday. Nevertheless, other pertinent details such as those who are really involved in the talks and issues that may have been reached are not known since they are left confidential. But to get an overview, the plan is to actually make sure that the assets of Citigroup will remain in the company and that the government will assume the losses, but only a portion of it.

Where It All Started

Citigroup suffered one of the greatest losses they ever have all throughout their lifetime: 60 percent of their market value. The sharp decline, which happened just last week, may be caused by the loss of investor confidence after the company continued to obtain losses rather than gains for four successive quarters. If the bank and the government will not do something about it and the value of the company will continue to slide down, there’s a huge possibility that this will be a major threat not only to their clients but to their employees as well. This will then pose a big problem in the operations of the bank.

The Benefit of the Plan

One of the foremost benefits of the rescue plan is to provide a good breathing room for the company. This will help calm down the nerves of investors, clients, and customers, most especially when they know that the company is getting support from the government. However, the plan may not be long-term, and the Citigroup should be more than prepared for the long days ahead. As mentioned, the government doesn’t absorb only a portion of the losses. Citigroup therefore must find ways on how to soften the impact of the remaining balance.

In the meantime, the company is doing its best to lift their image despite the financial turmoil. In a recent statement they released, they assured the public that they have excellent liquidity and very strong capital. The chief executive officer of the company, Vikram Pandit, already informed their employees that they will not be breaking the company and that there will be no brokerage unit that will be sold.

::Forex Trading::

2010-03-08T06:30:00.000-08:00

Forex dealers only dealt with banks and large financial institutions in the past. The Forex market is now open to financial mangers and Forex traders. Although the Forex market is open 24 hours a day, the top Forex dealers operate at the time zones that correspond with Sydney, Tokyo, London and New York. People who are considering trading should do so when the top dealers are available in the above time zones. Whether you choose to trade during peek times or not, Forex is available for trading day or night, unlike the stock market.

How to Make Money With Forex Trading

2010-03-08T06:28:00.000-08:00

Forex is a great way to make quick money online. You just have to know the basic skills for trading and you will be on your way to make money at home. You don't have to sit around your computer waiting after placing your trade. Just place your trade and wait for the profits to roll in.

Things You'll Need:
A forex account

A broker (optional)

Internet

A deposit1st Step:- Forex means, "Foreign Exchange." That means buying a currency and selling it to make profit. The currencies are sold in pairs, such as, EUR/USD. You can sign up for a free Demo account and practice to trade, before you open a real account.
2nd Step:-Get familiar with forex terms used in forex trading. There are ebooks online, with lots of information to get you started. Once you get comfortable with trading. Open a live account, you can Open an account with as little as $200.
3rd Step:-You can choose to use a broker or you can trade by yourself. You can trade at anytime of the day because the Foreign Exchange market operates 24 hours a day.
4th Step:-Some of the most popular currency pairs, in forex trading are: EUR/USD, GBP/USD, EUR/JPY and USD/CHF.
5th Step:-Be prepared to risk some of your investment capital for the opportunity to make higher returns. Visit the forums and do google searches for additional information, that will help your trading to be more successful.

WHAT IS THE BEST FOREX TRADING SYSTEM?IS IT PROFITABLE

2010-03-08T06:21:00.000-08:00

Making money in forex market became no longer difficult as it was few years ago. with the all new trading techniques and high speed internet connections and the appearance of the so many brokers who give the opportunities to every one to participate in the forex trading market regardless his capital volume.
Forex trading signals are the by-product for all technical and fundamental analysis methods and strategies, every forex trader need to get the basic analysis knowledge in order to generate winning forex signals. This requires him or here to learn a lot about technical analysis strategies and create his or here own forex trading system in order to be able to pick the available trading opportunities all the time. For novice traders starting their first steps in the forex market, automated forex signals are a good training to start with.

This should be the starting point of all your dealings as every trade relies on the types of signals it transmits to traders. The use of these signals represents the entire movement and behavior of the forex market. Fortunately, the chance to make profit in the forex market is still available to many straggling traders, there are many signals providers which can be employed through a monthly subscription and provide a high quality entry signals.

Also you can create your own signals using a software program. This does need any monthly fees for you to purchase it given a one time payment term. How you can benefit from forex signals: Many novice traders who try some of the forex signals providers and end with losses in their first few trades so they believe that this signal providers is unreliable service and start seeking another alternate service. The secret to success with such business is the consistency, in order to make a fair judgment on any service, you should try it for several weeks.

In forex market there are no thing predictable 100%, and there always will be a percent of losses. So in order to succeed with such systems you should create your own money management rules to work along with the trading signals and make your calculations at the end of the testing period to check whether you made total profits or total losses.

Regardless how good the generated forex signals are, you should never depend on only one service to decide when and how you trade. You should look at several exit and entry strategies along with developing your own system for trading. Putting all of these together in a harmony can produce a profitable forex trading system which can make you a lot of money on the long term.

Calculating Profit and Loss

2010-03-08T06:20:00.002-08:00

Today i will share that how profit and loss can be calculated. There are certain auto calculators available but it is highly recommended to learn calculating profit and loss.

Example:
Let's say that the current bid/ask for EUR/USD is 1.46160/190, meaning you can buy 1 euro for 1.46190 or sell 1 euro for 1.46160. Suppose you decide that the Euro is undervalued against the US dollar, and you expect it to strengthen, you would buy Euros (simultaneously selling dollars), and then wait for the exchange rate to rise. To make the trade you buy 100,000 Euros, paying 146,190 dollars (100,000 x 1.46190). At 1% margin, your initial margin deposit would be approximately $1,461 for this trade. If as you expected, the Euro strengthens you can realise a profit by selling EUR/USD to close your trade. If the Euro had strengthened to 1.462300/260, you would sell 100,000 Euros at the current rate of 1.46230, and receive $146,230 To calculate your profit: You bought 100,000 Euros at 1.46190, paying $146,190. You sold 100,000 Euros at 1.46230, receiving $146,230. That's a difference of 4 pips, or in dollar terms ($146,190 - 146,230 = $40). Total profit = US $40.

Let's say that we once again buy EUR/USD when trading at 1.46160/190. You buy 100,000 Euros paying 146,190 dollars (100,000 x 1.46190) - as in example 1. However, in this example the Euro weakens to 1.46110/140. To minimise your loss you sell 100,000 Euros at 1.46110 and receive $146,110. To calculate your loss: You bought 100k Euros at 1.46190, paying $146,190. You sold 100k Euros at 1.46110, receiving $146,110. That's a difference of 8 pips, or in dollar terms ($146,190 - $146,110 = $80). Total loss = US $80. source: http://www.forex.com/

Automated Forex Trading System: Does it Work?

2010-03-08T06:20:00.001-08:00

If you're considering an automated forex trading system, this article reviews a popular system.

Automated forex trading has become a popular way to make a profit by dealing in currency trading. Participants use the foreign currency exchange in much the same way they play the stock market. There are a number of advantages to trading currency instead of trading stocks.

If you are serious about getting a huge return on your investment by working smarter, not harder, check out this proven automated forex trading system.

Automatic forex trading utilizes a software program to predict rises and falls in currency rates and make profitable trading decisions. The software also makes the trades for you. With a Forex trading system like this one, you simply start up the program and begin turning a profit with very little effort. Your auto Forex trading can continue working around the clock so trades happen when news breaks rather than when the market opens.

Many people have seen success with automated forex trading but not all packages are created equal. Some have undergone a more rigorous testing process than others. For example, the FAP Turbo software has been tested in both back tests and live trades to ensure the product works. Most software packages have only been back tested, so they may or may not do well in live trading. It is better to find a software package that has been tested in both environments to ensure results.

Most people who opt for a forex trading system have little knowledge about the foreign currency trade market. That is one of the biggest advantages to forex trading software. These programs do all of the work for you, so all you have to do is install the software and kick off the program. Installation usually takes a few minutes and results can be seen the same day. Even people who have never traded currency before can make a profit with Forex.

Forex trading systems take much of the guesswork out of the foreign currency exchange market. You can begin the process with as little as $50 and quickly see the profits begin to accumulate. According to the makers of FAP Turbo, serious profits can be seen in just a few weeks' time. The more you make, the more you can invest and the more you invest, the more you make. The cycle has been a profitable one for many who have used these forex systems.

If you want to make money in the foreign currency market, check out automated forex trading. The FAP Turbo program is a particularly good choice because it has been well tested and proven. With forex trading software like FAP Turbo, you can make money without any prior experience in foreign currency trading. It's an excellent investment

Less Liquidity — Stronger Euro. Or Not?December 4th, 2009

2010-03-08T06:19:00.001-08:00

The single European currency tried to break the latest resistance level, set 8 days ago, as the future of the macroeconomic conditions around the euro were revised after Jean-Claude Trichet’s statement today. But, unfortunately for the euro, the growth wasn’t long lived.