This simple system can be used by traders with busy day schedule. It uses daily chart of any currency pair. Indicators used are 5 EMA, 12 EMA and RSI 12.
1. BUY when 5 EMA crosses 12 EMA from below and RSI is above 50.
2. SELL when 5 EMA crosses 12 EMA from above and RSI is below 50.
3. Exit when 5 and 12 EMA crossover again or when RSI crosses to other side of 50 line.
There are many factors that affect exchange rates of currencies. However some are more important in currency trading than others. These are; Interest and Inflation rates, Trade balance, Currency market speculation, Foreign investment and Central bank market intervention. Learn how to use these factors in your forex tra ...