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.
USD updates will be available in the comments section below. Sign up for Xmas Promotion. Currency pair - EUR. AUD Chart timeframe - 4hr Area of interest - 1. Currency pair - USD. CAD Chart timeframe - 4hr Area of interest - 1. Currency pair - CAD. GBPUSD has been in a rally for a while, trading below the median line of an upsloping andrews pitchfork.
In case it continue the upmove it will very soon complete a bearish bat pattern. Because this is a high timeframe you may don't want to trade it with a stoploss above X point.
In such case, wait for the pattern completion and then switch to the lower timeframes Details on the chart.
Sign up for Xmas Here is another Bearish outlook for this pair. Just like the first one, where we are currently doesn't really shed light on where this pair is going next. In this video we highlight a pending bullish gartley harmonic pattern which may complete at a key support level created by active slope trendline into the structure.
Feel free to like, comment and share your thoughts, John. Here I go again speculating from afar. If you took a look at my monthly analysis of USDCAD you will know that I warned i would do a couple of ideas on shorter time frames which may or may not agree with that previous longer term analysis, here is one of those that do not immediately fall in line with that longer term analysis.
So, what we have here is a potential Price correction to the upside and making a rising wedge. 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. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts. Select market data provided by ICE Data services.More...