This is a decentralized market that spans the globe and is considered the largest by trading volume and the most liquid worldwide. Exchange rates fluctuate continuously due to the ever changing market forces of supply and demand.
Forex traders buy a currency pair if they think the exchange rate will rise and sell it if they think the opposite will happen. The Forex market remains open around the world for 24 hours a day with the exception of weekends. Before the Internet revolution only large players such as international banks, hedge funds and extremely wealthy individuals could participate. Now retail traders can buy, sell and speculate on currencies from the comfort of their homes with a mouse click through online brokerage accounts.
There are many tradable currency pairs and an average online broker has about One of our most popular chats is the Forex chat where traders talk in real-time about where the market is going. If you think this analysis can be useful, leave a your comment or your LIKE! Thank you for support and trade with care! Potential harmonic structure on H4 chart. Cypher Pattern Risk Ratio: Mates, a cypher formation just completed.
Nice chance to get long. Have a good day. The trend is still bearish, but potentially we expect a corrective movement bullish above 0. Head and Shoulders Pattern Risk Ratio: Currency pair - GBP. JPY Chart timeframe - 15min Area of interest - Triangle Pattern Risk Ratio: Mates, a potential cypher advanced formation is on my radar. Mind the alternative entry of 0. USD updates will be available in the comments section below. Daily, 4hr, 1hr Predicted Direction: JPY updates will be available in the comments section below.
Stop loss at 0. Take profit at 0. Reason for the trading strategy technically: Price is testing channel resistance and major resistance at 0. Price broke resistance, possible it can continue highere. Once the trendline is broken, it will drop like waterfall. Overview Rates Cross rates Economic Calendar. Currencies are traded on the Foreign Exchange market, also known as Forex.
Dollar Index The U. Euro Index Euro Currency Index. Potential harmonic structure in development on H4 chart. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts. Select market data provided by ICE Data services.More...