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- :The business environment ) , , ( , .

- :Stock market . . - :Political factors .

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, . - :Economic data ) (, , , , , , , .

- . .

- :Types of exchange rate systems : - Fully fixed exchange rates , ) ( . .

- Semi-fixed exchange rates . , .

Free floating

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. . - "" . Managed floating exchange rates -

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EUR/USD ! ) ...( , : 5 . . . 59% . . . .

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, . / . . . - Forex outlooks / . .

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. . . . . / - . CCI - Commodity Channel Index . CCI , -) moving average (MA , -) normal deviations (D . CCI . . CCI , . -Hikkake Pattern - . ) (. . - -Moving averages "" "" . : )(-)simple (arithmetic - exponential - time series - weighed - triangular - variable

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- volume adjusted

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MACD - Moving Average Convergence/Divergence , . ) ( ) ( . ) " "(, ) (. RSI

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) ,Relative Strength Index ( ) ,stochastic oscillator (.

- Momentum . . ):(M M = CCP OCP CCP current closing price OCP old closing price :

) Momentum and rate of change (ROC ) N( . " " ROC . . , . , . ) , ( . - RSI - Relative Strength Index . RSI . : RSI ])RSI = 100 [100 / (1 + RS N , : RS N . . N RSI 0 001 . 07

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. RSI 03 .

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RSI RSI . RSI .

- Stochastic oscillator . . : ])41%K = 100 * [(C L14) / (H14 L

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) (USD/JPY :

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" ". " ". " ". , , . , : "" - :Bullish patterns

,hammer, inverted hammer, engulfing, harami, harami cross .doji star, piercing line, morning star, morning doji star "" - :Bearish patterns

shooting star , hanging man, engulfing, harami, harami cross, doji star, dark cloud cover, evening star, evening .doji star

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: 6002. Easy-Forex , .]4.6[ / . : ) , : ).Relative Strength Index (RSI ) , ( ) ( )-, -( )( ) (.

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:Fibonacci numbers )...43.12.31.8.5.3.2.1.1( . %8.16, . %8.16, %2.83, . ) 8.161 8.162 (. ) ( . .

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. . . . /. :Gann numbers 05 . , /. , . .

Waves

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Gaps

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, . . )( Trends ][

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]5.6[ : - Coppock Curve . - 01 - 41 -11 . -) DMI (Directional Movement Indicator .

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) The Parabolic System (SAR . .

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Trend indicators )( . : , , . "" . . ) : , (. Volatility indicators . . . . ) : .(Bollinger Bands

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][ CCI - Consumer Confidence Index , 00:01 . 0005 . , , . : . . .

][ CPI - Consumer Price Index; Core-CPI , 02 . 03:8 , . . . . ) ( .

][ Employment Report 03:8 . 000573 00006 . : , . : . ) (

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][ : FOMC Meeting(Federal Open Market Committee): Rate announcement 8 . ) 51:41 (. ) ( . 21 ) ( . . . . ,FOMC ) ( .

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GDP - Gross Domestic Product

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) - BEA ( ) ( 03:8 . GDP 3 : , . GDP . . . GDP . ) (. ) (. . GDP . GDP ) (.

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][ ISM (Institute for Supply Management) Manufacturing Index , , 00:01 , . ISM 004 . ) 03 % 52 % 02 % 51 % ) ( 01 %(. 05 05 .

][ MCSI - Michigan Consumer Sentiment Index , , . . . .

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NFP - Changes in non-farm payrolls , , 03:8 , . : . 08%

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][ PMI - Purchasing Managers Index 00:01 : . . 003 02 . PMI 05 05 . PMI . . PMI , . PMI . .

][ : Retail Sales Data; Retail Sales less Automotives 03:8 . ) (. )( . . . .

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][ Tankan Survey ) BoJ ( 05:01 . . . ) ( . .

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][ - TIC (Treasury International Capital) Data on transactions in long term securities 00:9 . TIC : . : FDI . FDI . TIC . .

][ Trade Balance 03:8 . . . . .

][ Budget Statement Monthly ) ( . / . , . ) ( .

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Composite Index of Leading Indicators 02 00:01 .

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][ Current Account ) - BEA ( ) (. . . .

][ Durable Goods 03:8 . . ) ( . .

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][ GDP Price Deflator ) - BEA ( ) ( 03:8 . . " " ) .(CPI . .

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][ Housing Starts )- BEA ( , 03:8 , . . . , 52 % 5% . . .

][ Industrial Production Capacity; Production Utilization 51:9 . ) (. . .

][ Initial Jobless Claims , 03:8 , . . , .

][ ) ( )Philadelphia Fed Index (Business Outlook Survey 00:01 .

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][ PPI PPI - Producer Price Index; Core-PPI 03:8 . PPI . ) (. PPI . 00001 00003 . .

][ Beige Book ,FOMC 8 51:2 . : " ". FOMC . . . . .

][ ECI - Employment Cost Index 03:8 ) ( .

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ECI . 0003 005 . , . ECI . .

][ PCE - Personal Consumption Expenditure )- BEA ( , 03:8 , PCE . PCE . PCE - Core PCE .

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: .) ( . rate margin Sell EUR Buy USD EUR p/l USD p/l Investmen Actual value value t Yield change 76.6 - $00.000,51 76.600,01 $ 00.001 0994.1 00.01 $- % 0.01- %1.0- 0894.1 0794.1 0694.1 0594.1 0494.1 0394.1 0294.1 0194.1 0094.1 0984.1 0884.1 0784.1 0684.1 0584.1 0484.1 0384.1 0284.1 0184.1 0084.1 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 00.001 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 53.310,01 40.020,01 47.620,01 44.330,01 61.040,01 98.640,01 26.350,01 63.060,01 11.760,01 88.370,01 56.080.01 24.780,01 12.490,01 10.101,01 28.701,01 36.411,01 64.121,01 92.821,01 41.531,01 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 $00.000,51 53.31- 40.02- 47.62- 44.33- 06.04- 98.64- 26.35- 63.06- 11.76- 88.37- 56.08- 24.78- 12.49- 10.101- 28.701- 36.411- 64.121- 92.821- 41.531- 00.02 $- 00.03 $- 00.04 $- 99.94 $- 00.06 $- 10.07 $- 00.08 $- 00.09 $- 99.99 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- 00.001 $- % 0.02- % 0.03- % 0.04- % 0.05- % 0.06- % 0.07- % 0.08- % 0.09- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- % 0.001- %1.0- %2.0- % 3.0- %3.0- %4.0- %5.0- %5.0- %6.0- %7.0- %7.0- %8.0- %9.0- %9.0- %0.1- %1.1- %1.1- %2.1- %3.1- %3.1-

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American Option Appreciation Arbitrage Around Ask Price

Asset

Association Cambiste International

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. . . / . . )1( . )2( , . . . , . . " ". Settlement and related processes .

At Best At or Better At Par Forward Spread At the Price StopLoss Order At-the-Money

Auction

Average Rate Option Back Office

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Balance of Payment

Balance of Trade

Band Bank Line

Bank Notes

Bank Rate Banking Day

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Barrier Option

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Base Rate Basis Basis Convergence Basis Point Basis Price Basis Trading Basket Bear Bear Market "" Bear Put Spread

Bid Price

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Big Figure

Bilateral Clearing

Binary Options

Black-Scholes Model - Booked Boris

Slang for Russian trading . , . , . , .

Break Even Point

Break Out

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Bundesbank BIS

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Spread Butterfly

Buyer/Taker Buying Rate Buying The Spread Cable Cable Transfer Calendar Spread Call Call Option

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Cambiste Capital Account Carry Carry-Over Charge

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Cash

Cash and Carry Cash Delivery Cash Settlement CBOE CBOT or CBT CD Central Bank

Central Rate

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Certificate of )Deposit (CD

CFTC - CHAPS

Chartist

CHIPS

CIBOR

Clearing Closed Position

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Closing Purchase Transaction CME

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Mercantile

Coincident Indicator Comex Commission Compound Option Comptant Confirmation

" ". . Consumer Price Index . . . . . ) (. . , .

Consumer Price Index CPI

Contract Contract Expiration Date

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. , . . , . . , . . Currency Inter-bank Exchange Foreign (FOREX) instruments ) / ( , , , , . , . , . . . )1( , . . )2( .

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Counterparty Risks

Country Risk

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Covered Interest Rate Arbitrage

Covered Margin

CPI

CPSS

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Currency Basket

Currency Swaps Current Account

Current Balance

Cycle Day Order Day Trader

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Day Trading

Daylight Exposure Limit

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Deal Date Deal Ticket Dealer /

Dealing Board Declaration Date Deficit Deflator Delivery Delivery Date Delivery Month

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Delivery Points

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. . Deposit "" - .Discount .Money Market operations . . . . , . . , . . . . . . . : .

Delta Hedging Delta Spread Depo Deport Deposit Dealings Depreciation

Derivatives

Desk Details

Devaluation Devisen, Devises Devisenkassamarkt Devisenterminmarkt Diagonal Spread )(bull or bear Direct Quotation Discount

99 99

. , . . . . . . . . . , , . . . . European Monetary Union . European Monetary System .

Discount Rate

Domestic Rates

Durable Goods Orders

Easing Economic Exposure Economic Indicator ECU European Currency Unit Effective Exchange Rate EFT Either Way Market EMU EMS

001 001

, , . Exchange European Options . 1% ) (. . Exchange Rate Mechanism .

End/End

EOE

Epsilon

ERM Euro Clear Eurobonds

. . . ) ( . ) ( . Eurocurrency . Deutschmarks .Eurocurrency

Eurocurrency Eurodollars Euro franc Euromark European Option European Union Exchange Control Exchange Rate Risk

. .

. . .

101 101

Exercise Limit Exercise Notice Exercise Price )(Strike Price ) (

) ( ) ( . . Strike price . call option . put option . .

Exercise Value

Exotic Expiration Date Expiration Month Expiry Date Expiry Date

)1( Options- . )2( Bonds . . . . . . , . / . , .

Exposure

Fast Market

201 201

. Federal Deposit Insurance Corporation .) (FDIC ) (. . . . . . . . - . 83 . . . . FOMC 21 21 . . .

Fed

Fed Fund Rate

Fed Funds

FEDAI

Federal National Mortgage Association Federal Open Market Committee

Federal Reserve System

Financial Future

301 301

)2( )1( . . . . . . . .value dates . , , . . . . . ) (. : 000,005 , 000,005 = . . . . )1( )2( . )3( .

Fine Rate

Firm Quotation

Fiscal Policy

Fixed Dates

Fixed Exchange Rate

Fixing

Flat/Square / Flexible Exchange Rate

Float

401 401

. )1( . )2( , . , . . . . , . , . " " "" . . . forward / forward . . .

Floating Exchange Rate Floor

FOMC Foreign Exchange Foreign Position Forex

Forex Deal

Forward Contract Forward Cover Taking Forward Deal Forward / Forward

Forward Margins

501 501

. . . . . , . FRA . . , .

Forward Maturities

Forward Operations

Forward Outright

Forward points

Forward Rate Agreements Free Reserves Front Office Fundamental Analysis Fundamentals

. , .

A term for USD/CAD/fungibles / . , . .

Funds

601 601

, . ) ( . . , , . Exchange Foreign The Group of Five . : . : . 7 , . . . "" . CME CBOT . . .

Futures Contract

Futures Exchange Traded Contracts

FX 5 G 5

7 G 7

01 G 01

Gamma

Gap

GLOBEX

GNP Deflator

701 701

. , . . . . . 3791 . . " " . . Good until canceled . . . . , . , . . . .

GNP Gap Domestic Gross )Product (GDP Going Long Going Short

Gold Standard

Gross Gross National )Product (GNP GTC GTC "Good Till ""Cancelled " Hard Currency

Head and Shoulders

801 801

. . )( , . .Hong Kong Inter-bank Offered Rate . . )( . . . . 05% 21 . . International Foreign Exchange Master Agreement . International Monetary Fund 6491 . . International Monetary Market

Hedge Hedging HIBOR Historical Volatility Hit the Bid Holder Housing Starts Hyperinflation ICCH IFEMA

IMF

IMM

901 901

Implied Rates Implied volatility Implied Volatility Skews

. .

/. " " /. " " /. . . Industrial Production Index . .

In-the-Money

Inconvertible Currency Indicative Quote Indirect quote Industrial Production Index IPI Inflation Info Quote Initial Margin

. . . / .

011 011

. , . . OTC . .

Interbank Rates

Interest Rate Floor Interest Rate Options Interest Rate Risk Interest Rate Swaps /

. . ) ( . . , .

Intervention

/ . " " /. " " /. . . . Index and Options Market . . .

In-the-Money

Intra Day Limit Intra Day Position IOM IPI

111 111

ISDA (International Securities Dealers )Association

. . . . )( . , . .

J Curve

Key Currency Kiwi Knock In Knock Out Last Trading Day Lay Off LDC Leading Indicators Leads and Lags . Leverage

. , . , . , . . .

211 211

, , , .

Liability

.The London Interbank Bid Rate . . ,The London Interbank Offered Rate . . 61 . .

LIBID

LIBOR LIBOR (London Inter ) Bank Offer Rate ) ( LIFFE

)1( . )2( . )3( . )4( . . , . . , .

Limit

Limit Down

Limit Order

311 311

, . . , . . , , . . . . , . . . : . . .Cash in circulation . . .

Limit Order Reserved Day Trading Deal

Limit Up Limited Convertibility

Lines Liquidation Liquidity

Lombard Rate

Long

Long Hedge 0M

411 411

. , 1 M . , 2 M . " " .

3M 4M Make a Market Managed Float

. . )1( , . )2( , . )3( , . )4( . . . , . / " ". , , . Premium.

Margin

Margin Call Marginal Risk

Marked-To-Market

Mark Up

511 511

Market Amount Market Maker Market Order Market Value

. . , . Marche a Terme International de .France

MATIF Maturity

. )1( . )2( . . . . , . 0001 . . . " , ". .

Maturity Date

Micro Economics Mid Office Mid-Price or Middle Rate Milliard Mine Minimum Price Fluctuation Minimum Reserve Mio

611 611

MITI MM Money Market Money Market Operations Money Supply

Money Markets . . . , . , . 1 M2 M3M 4.M "" , . . . . .

Moving Average Multiple Exchange Rates Mutual fund Nearby Month Net Position Nickel Nostro Account Not Held Basis Order Note

, . . . " ". . . , . .

711 711

, , . . . . . . , , , . , . . . " ". . . -.FOMC . , . - .

OECD Offer Offered Market Official Settlements Account Offset

Off-Shore

Old Lady One Cancels Other Order Open Market Operations Open Interest Open Market Committee Open Position )( Option Class

811 811

/ . , , )( )( . - .Initial Margin . . " ". . / . / . .

Option Series Option Original Margin

Over The Counter )(OTC

Out-of-the-Money

Outright Deal Outright Forward Outright Rate Over Bought or Over Sold Overheated )(Economy )( Overnight Overnight Limit Package Deal

. / . . - LONG - . SHORT , , . . . . / .

911 911

)1( . )2( . . )1( " ". )2( . . . . . , . , , , . . . . )1000.0 (. 5891 5G . )1( 1/001 , 000,01 . . )2( , , , 8% 9% . )3( .

Par Parities

Parity

Payment Date

Payroll Employment

Permitted Currency

Petrodollars PIBOR Pip Plaza Accord

Point

021 021

) (. . ) ( - ) , - ) (. , - - . Producer Price Indices . . )1( . )2( . )3( , . )4( . )1( . )2( . . . PPI . PPI -CPI .

Political Risk

Position

Position Limit

PPI

Premium

Prime Rate Principal Profit Taking

Producer Price Index )(PPI

121 121

, . . . , , . )1( . )2( . An indicative price . . . . . . .OUT-OF-THE-MONEY . . . .

Purchasing Power Parity Put Call Parity Put Option Quote Quote Rally Range Rate Ratio Spread Reaction Real Recession

. . Repurchase ", " .Agreement

Reinvestment Rate Repo Rate Report Repurchase Agreement

.Premium .

221 221

, . , . ) ( 52 . . . . . , . . , . . . . . .

Reserve Currency

Reserve Requirement

Reserve Tranche

Reserves

Resistance Resistance Point or Level Retail Price Index

Retail Sales

Revaluation Revaluation Rate Reversal

- call - .put

321 321

. 0002-2002. . . . .

Reuter Dealing

Risk management

Risk Position Risk Premium Risk Reversal

put . call . . . : . /. , , . .

Risks

Rolling over

Rollover Running a Position Same Day Transaction Sandwich Spread Scalping

. butterfly .spread

421 421

. . . . . . . . . . . - .short . . . . . .Short Forward Date/Rate - 09 . Standard International Trade Classification . . , .

SDR Selling Rate Series Settlement Settlement Date Settlement Price Settlement Risk Short Short / Short Position Short Contracts Short Covering Short Forward Date/Rate Short Sale Shorts Short-Term Interest Rates SITC SOFFEX

521 521

, . .Broken Date )1( . )2( . / . . . . . . )1( )2( )3( , .

Soft Market Split Date Spot Spot Month Spot Next Spot Price/Rate / Spot Week Spread Square Squawk Box Squeeze Stable Market Stagflation Standard Standard and Poors )(S&P Sterling

. . . . )( . . . 005. , .

621 621

. .

Sterilization Stocky

. , , . . . / / . .

Stop Loss Order

Stop Out Price Straddle ) ( Stagflation Strike Price Strip Structural Unemployment Support Levels

. . . . , , . , . . , . , .

Swap ) (

721 721

. .

- SWIFT ) ( Swissy T-bill Technical Analysis Technical Correction Terms of Trade Theta Thin Market TIBOR Tick TIFFE Tomorrow Next )(Tom next Trade Date Tranche Transaction )(

US Treasury bill . . , . , . .

. Offered Rate Tokyo Inter-bank . , . . . . " ", . .

821 821

. .

Transaction Date Transaction Exposure Under-Valuation

. . Value Today Transaction , " ". , , . . . . .

Value Spot

Vanilla Variation Margin )( Vega Money Velocity of

921 921

, . , . )( )( . . . . , ! . . , . . . )(. , . , "". . , . . 06 09 . .

Value Date

Volatility