Yahoo Currency Exchange Rates
One of the best known and used features of the Yahoo Finance portal in general is the ability to download historical quotes for the financial products for free, including the historical forex rates. You can use these free rates in simulations of technical analysis forex trading strategies, to find out what the historical profitability of your trading strategy under development would have been. Do remember, however, that in real trading there is a phenomenon called slippage, which simply means that the price at which the trade gets filled may be different from that you saw from the trading screen. Yahoo also provides useful forex rate graphs, which can be useful if you are trading a graph reading technical analysis style. For day traders of forex, especially the ones that show graphs for 1 and 5 day ranges are useful. In the interactive chart setting, you can even add technical analysis indicators to the graphs, such as moving averages and several other widely used indicators, even in the intraday chart mode, which is rare, as usually technical analysis indicators are not available for day trader charts on these free services. Finally, the news and commentary section is a bit redundant even for fundamental analysis based traders, as the usage of RSS readers from business news services has often replaced the need to manually check these sites or use forex tickers on your PC.
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