Forex Crunches for the Weekend

After a very busy week where central bank inaction rocked the markets, the weekend is here. It’s time to enjoy some long term reading and try to better understand what happened.

Draghi didn’t live up to his expectations, but August 2nd might be remembered as a day that changed the course of the European debt crisis.

Note to readers: the monthly outlook for August will be sent to subscribers after the weekend and not before, as planned. Here are the reading recommendations:

• Joseph Cotterill asks if Draghi was indeed a disaster and notes the change of tone in the ECB.
• Kathy Lien has a new website for her new career. It’s certainly worth checking out.
• Matthew Russell provides some economic numbers related to the Olympic Games, and how they compare to debt.
• Larry Greenberg summarizes July in figures – raw and important numbers.
• Lior Cohen explains the relation between QE programs and the price of gold.
• Nathan Tucci explains how to choose the right broker.
• Michael Greenberg reports that also a Russian forex robot lost $2 million in 2 minutes. This joins the collapse of Knight, which burned $440 million very fast.
• Francesc Riverola announces a significant expansion of GFT’s price offering on FXStreet’s comprehensive quotes feed.
• Andriy Moraru talks about a new free EA to trade those nasty forex price spikes.

Here are some long term reads published recently on Forex Crunch:

• 5 Most Predictable Currency Pairs – Q3 2012
• 3 Reasons Why Demo Trading is Killing You  – Interesting contrarian view.
• What Can Forex Traders Learn from Mitt Romney’s Positions? – Let’s say he’s not a dollar bull.
• Reliable Expert Advisors (EAs) – Like Needles in Haystacks – If Knight is an example…
• Range Trading: Which Pairs Work Best? – For calmer days of summer.