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Recently the US dollar fell to a two-year low against the Euro, hitting 1.3830 on growing expectations that the US Federal Reserve will continue bond purchases next year and that there will be no tapering in 2013. Tapering is the keyword being mentioned lately, tapering refers to the FED stopping aggressive bond purchases therefore removing liquidity from the financial markets.

Recent European data has been weak with European growth slowing and unemployment and PMI coming in much weaker than expected. With such weak data hitting the wires we wonder if it is justified to be a EURO buyer at 1.38, we think NOT.

Trading the British pound has lately involved the need for a very skilled understanding of the stiff Bank of England and its new governor, Mark Carney. 

Carney had been expected to increase the size of the BOE's assets, by buying bonds, and therefore increasing money supply.  GBPUSD bears were looking forward to GBP weakness once Carney took office, as such bond buying would weaken the currency.  This theory brought GBPUSD down to nearly 1.4800 in early July 2013. However since then the cable has been ticking up, and is currently sitting at about 1.6000

Several clients have informed us and here at FxRebateGurus we have confirmed ourselves that the Liberty Reserve website is currently down. We use liberty reserve to pay many clients and the service has been great over the last year that we've been using it. Some of you are panicked that your money might be lost, and with full right. FxRebateGurus' account at LR also has funds and we currently have no idea if/when we will be able to get access to our funds

UPDATE

When we wrote this blog post there was uncertainty around why LR had gone down. It has now been confirmed by reputable news agencies that LR has indeed been shut down by the FBI and Costa Rican Authorities. Read below!

BBC News - Liberty Reserve digital money service forced offline

Liberty Reserve Shut Down: Cybercrime Community In Disarray | SiliconANGLE

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The Forex Accumulation Distribution Indicator is a momentum indicator that measures supply and demand by determining whether traders are “accumulating” (buying) or “distributing” (selling) a particular financial instrument by identifying divergences between price and volume flow. The mathematical formula is represented as follows:

Acc/Dist = ((Close – Low) – (High – Close)) / (High – Low) * Period's volume