EUR/USD: This market has been moving steadily in the...
The Monthly is in a down ABCD swing and the Daily is also in a down ABCD swing. However, since the Daily chart is too close to hitting the down D extension I shall stand aside and wait for the D to be hit and then for a brand new down ABCD swing ...Continue Reading
Pip (or Point)
The smallest incremental move an exchange rate can make. Depending on context, this is normally one basis point (0.0001 in the case of EUR/USD, GBD/USD and USD/CHF; and .01 in the case of USD/JPY).
Fixed Exchange Rate
An official exchange rate set by monetary authorities for one or more currencies. In practice, even fixed exchange rates fluctuate between definite upper and lower bands, leading to intervention.