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A chart that displays the daily trading price range (open, high, low and close). A form of Japanese charting that has become popular in the West. A narrow line (shadow) shows the day’s price range. A wider body marks the area between the open and the close. If the close is above the open, the [...]
A limit order that is placed above the market with a long position or below the market with a short position. When the market reaches the limit price, the position is closed thereby locking in a profit. Source forexglossary
Forex ECNs broker provide access to an electronic trading network, supplied with streaming quotes from the top tier banks in the world. By trading through an ECN broker, a currency trader generally benefits from greater price transparency, faster processing, increased liquidity and more availability in the marketplace. Source forexglossary
USD/JPY Weekly Outlook USD/JPY broke intervention low of 82.86 to resume recent down trend and reached as low as 81.71 so far. Initial bias remains on the downside this week with 82.55 minor resistance intact. Current fall should now target 61.8% projection of 92.87 to 82.86 from 85.92 at 79.73, which is close to 79.75 [...]
EUR/USD Weekly Outlook EUR/USD soared to as high as 1.4028, just inch below mentioned target of 100% projection of 1.1875 to 1.3330 from 1.2587 at 1.4042. A temporary top is in place and initial bias is neutral for some consolidations first this week. But downside is expected to be contained by 1.3636 support and bring [...]
The U.S. dollar fell against most of the major currencies during yesterday’s trading session. The dollar’s most notable depreciation took place versus the Japanese yen. As a result the USD/JPY pair is now trading at the 82.30 level, near a 15 year low. The dollar continued its bearish trend against the major currencies today due [...]
Understanding Options Options are usually associated with the stock market, but the foreign exchange market also uses these derivatives in trading. It gives traders the opportunity to make money at a risk he has set for himself. To understand this concept better, let us use the example of purchasing a car. If you hold a [...]
In the 1930s, Ralph Nelson Elliott, a corporate accountant by profession, studied price movements in the financial markets and observed that certain patterns repeat themselves. He offered proof of his discovery by making astonishingly accurate stock market forecasts. What appears random and unrelated, Elliott said, will actually trace out a recognizable pattern once you learn [...]
The carry trade is one of the most popular strategies in forex trading because it guarantees some type return on medium or long term positions. Unlike most strategies for the forex market, carry trading does not seek to capture a profit by exploiting changes in the value of a currency pair, but instead focuses on [...]