A lot of people have probably heard the term ‘forex’, but they do not understand what it means. It has grown in popularity and now represents the biggest and most liquid financial market in the world with daily turnover of over $5 Trillion per day. The expansion of the internet has made access to the forex market easier than ever and thousands of new traders enter the market every day. All that is required to start trading in the global forex market, which is open for trading 24/5, is a stable internet connection, preferably your...
European Fundamental Outlook 01/13/13 The European Central Bank retained its policy stance For Monday, anticipate the Euro to show some negativity in its currency valuation, as the ECB made its first policy meeting early this year and as expected it did retain its policy stance, which most analysts had expected that the ECB would remain in abeyance because of a recent signs that the recovery is underway which might spell optimism in the euro area countries, though is a slow pace. With a positive light shed by the rising of its...
Forex trading is the act of simultaneously buying one currency while selling another primarily for the purpose of speculation. Currency values rise and fall against each other due to a number of factors including economics and geopolitics. The common goal of forex traders is to profit from these changes in the value of one currency against another by actively speculating on which way forex prices are likely to turn in the future. One of the key elements behind the popularity of forex is the fact that forex markets are open 24-...
In this article, we decided to give some very practical advices and unwritten rules, developed over a long time in the environment of experienced traders of this financial market. We hope that this set of tips will be useful for all beginners. Trend is your friend Forex market always has a definite direction. It is important to understand the "mood" of the market and most of the positions should be opened in the direction of the prevailing trend. The trend is the only friend of Forex trader! Buy dips - sell the rallies This...
Price action is encompassed in technical and chart pattern analysis which attempt to find order in the sometimes seemingly random movement of price. Swings (high and low) and tests of resistance and consolidation are some examples of price action. Candlesticks and price bars are important tools for analyzing price action since they help traders visualize price movement. Candlestick patterns, engulfing patterns and crosses are all examples of interpreted price action. Price action is a form of technical analysis and it...
