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Random article: Bretton Woods Agreement and Gold Standard

In summer 1944 WW II started to evolve into closing stage and allied countries began seriousely deliberating financial shape of postwar world. All leading economies except for the USA were worn out and on the decline. Up to the end of the war, the most part of golden reserves was accumulated in the USA whereas winning and lost countries both were badly in need of oil, row materials, food and equipment. To prevent further global conflict for resources, Bretton Woods agreement was concluded, which was named after the New Hampshire town where the agreement was reached. According to this agreement, International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established. Participants countries contributed money funds (the largest contribution was from the USA) and every country could lend from those funds to support its currency. For the currency leading by that moment – US dollar – so called Golden Standard was created and was equal to $35 for golden ounce.

Popular article: Murrey levels

In their trading on the Forex market, most part of traders apply various tools, which are able to assist them in decision making. For example, Murray levels have been an instrument applied by traders for a long period of time. Unfortunately, not all traders handle Murray levels properly. Originally, Gann theory (Gann squares) were put on the ground of building the Levels. In the beginning of trading, one puts square on chart. Borders of square will signalize about beginning and end of existing tendency. Murray levels are used by traders on various time-frames. But the most significant levels are still long time-frames. Repeated character of market underlies building of ML, which imply drawing of twelve horizontal lines with each of them serving as an important level. (Pic. 1) Levels of greatest importance are the bottom and upper levels – 0 and 8.

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