EUR/USD Is Falling

EUR/USD is moving to the downside again after it failed to break above the resistance at 1.1380. What is more, the pair finally broke below the support at 1.0900 and is currently testing the support at 1.0870 so it can continue towards 1.0800. Considering the multi-week range that is visible on the weekly time-frame, I would say that the long-term target for the pair is at 1.0600. A continuation of the long-term bearish trend, however, will not be confirmed before the pair manages to break below the last low at 1.0460.

China Is Trying to Assure G20 over Its Economy

China has tried to assure global finance ministers about the state of the country’s economy while the G20 meeting gets under way in Shanghai.

Chinese finance minister Lou Jiwei said the country could tackle the pressures it is currently facing.

Separately, Bank of England governor Mark Carney said he was concerned by moves by some central banks to use negative rates to try to boost growth.

The G20 includes finance ministers from the world's biggest economies.

Based on gross domestic product, the G20 covers 86% of the world's economy, accounts for two-thirds of the world's population and 75% of global trade.

China's economy, the second-biggest in the world, is growing at the slowest rate in 25 years as it attempts to move from an export-led nation to one led by consumption and services.

The slowdown in China's economy has created considerable uncertainty in financial markets and has led to sharp falls in commodity prices.

The head of the People's Bank of China, Zhou Xiaochuan, said China's reform direction was clear and unchanged but that the country's pace of reform would vary.

"China will strike a balance between growth, restructuring and risk management," Mr Zhou said.

"While the reform direction is clear... the pace will vary, but the reform will be set to continue and the direction is not changed."

However, the head of the International Monetary Fund, Christine Lagarde, said China faced an "overwhelming" agenda of structural reforms.

Analysts said most of Mr Zhou's comments were designed to ease global worries over the way Beijing handles its currency as well as the continuing worries about the volatility of China's stock market.

There are concerns China will allow the yuan to weaken to boost its exports and drive its economy.

Regarding the the G20's discussions on global exchange rates, Mr Zhou said he would need to wait to see how the group would discuss it.

MT4 Web Is Now Available

From a purely technical standpoint, trading on the Forex market requires to always have a computer with the MT4 platform installed on it. Or at least that was the case up until now, because the competitive online broker ActivTrades introduced Metrader 4 Web, the web-based platform that you can access from your web browser as well as every OS.

Metatrader 4 Web allows you to:

- Have quick and easy access from any device

- Have access to all your trading instruments

- It does not require any installation or set up

- It has a user-friendly interface available in 14 different languages

The platform itself has several very useful features:

- You can place your orders in a few clicks with a professional execution or use one click trading

- You have acces to unlimited charts, real time quotes

- You can place market orders and pending orders for long and short positions

- You have access to microlot and minilot trading

- And integrated trading statements

Here you can learn more about MT4 Web and login into your account.