March 16, 2010 10:05 ET

ForexEgg Provides Savvy Online Tools for Forex Traders

Innovative Tools Help Forex Traders Make Educated Decisions

BOULDER, CO--(Marketwire - March 16, 2010) -  ForexEgg, the premier source for Forex analytics, this week announced the release of three new online tools that are easy and free to use. These tools are designed to help Forex traders make more informed trading decisions.

"Some other Forex analytical sites provide information that is subjective," explains Muhammad Hafeez, software developer for ForexEgg. "Our goal is to give traders tools, not opinions, so they can base their decisions on objective data analysis."

The three tools exclusive to are as follows: PAT (Price Analysis Tool); Forex Liquidity Charts; and Currency Temperature.

With all of these online tools, traders have access to a user interface where they may choose a currency pair and time period. They simply press "Go" and are on their way to receiving current interactive charts that have been derived through statistical models. 

PAT (price analysis tool) uses regression analysis to determine the current slope and likely range for future Forex rates. This application allows users to validate a daily or monthly trend in 19 currency pairs based on the real-time price data.

Forex Liquidity Charts are unique to ForexEgg. These charts track units of currency available for trade, similar to stock volume charts. When used with other tools, these charts will help traders better understand price action.

Currency Temperature measures rate volatility. For example, lower temperature readings are favored because they represent less market agitation. Higher temperatures yield more risk. This tool will help traders determine state of currency pairs in a familiar Fahrenheit, Celsius, or Kelvin scale. 

"Our goal is to encourage traders to take advantage of these free online tools when determining trading strategies," explains Hafeez. "In addition, we ask our users for feedback because we are constantly seeking to improve the function and usability of these tools." 

About ForexEgg
ForexEgg is customer oriented and its priority is to provide Forex traders with valuable tools so they can better plan their trading strategies.

For more information about ForexEgg, visit:

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