Latest Blog Posts
Latest Forex News
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Top 8 Forex Trading Strategies and their Pros and Cons
by Warren Venketas on 8 March 2021 at 20 h 00 min
Compare the pros and cons of different forex strategies, from day trading to position trading. […]
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AUD/USD Rate Attempts to Retrace Post-NFP Decline to Defend 2021 Low
by David Song on 8 March 2021 at 20 h 00 min
AUD/USD appears to be defending the 2021 low (0.7564) as the exchange rate attempts to retrace the decline following the US Non-Farm Payrolls (NFP) report. […]
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Bitcoin (BTC/USD), Ethereum (ETH/USD) Outlook: Will Stimulus Checks Buoy Crypto?
by Rich Dvorak on 8 March 2021 at 19 h 30 min
Bitcoin (BTC/USD) and Ethereum (ETH/USD) edged higher last week in attempt to rebound from their recent rout. Will stimulus checks support the cryptocurrency market amid US Dollar strength? […]
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US Covid cases 41,675
on 8 March 2021 at 18 h 54 min
Deaths 875 The CDC is reporting 41,675 new cases. That is down from 57.586 previously. The number of deaths came in at 877 vs 1679 previously.&nbs […]
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Fibonacci for a Multi-Market Trader’s Approach
by James Stanley on 8 March 2021 at 18 h 30 min
Fibonacci can help traders identify support and resistance levels in equity and stock markets, similar to forex and commodities markets. […]
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Mexican Peso Price Forecast: USD/MXN Breakout to Fibonacci Resistance
by James Stanley on 8 March 2021 at 17 h 43 min
It's been a counter-trend type of year so far for USD/MXN. But with a key Fibonacci level coming into play following a falling wedge breakout - might the tides be nearing a turn? […]
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Atlanta Fed GDPNow rises to 8.4% from 8.3%
on 8 March 2021 at 17 h 18 min
Atlanta Fed GDPNow forecast for Q1 growth In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2021 is on March 8, up from 8.3 percent on March 5. After this morning's wholesale trade report from the U.S. Census Bureau, the nowcast of first-quarter real nonresidential equipment investment […]
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Introduction to Basic Trendline Analysis
by Michael Boutros on 8 March 2021 at 17 h 00 min
Learn to identify, construct and utilize trend lines; the simplest and single most important tool in your trading arsenal. […]
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CDC says fully vaccinated people can meet indoors without masks
on 8 March 2021 at 16 h 06 min
CDC with some new guidelines on Covid - fully vaccinated people can meet indoors without masks - leaves travel advisory is unchanged for vaccinated people - vaccinated people should still mask, distancing public Both my wife and I were eligible and received the Pfizer vaccine#1 this weekend. The 2nd those who is not for another few weeks. I have had […]
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EUR/USD Rate on Cusp of Testing 200-Day SMA Ahead of ECB Rate Decision
by David Song on 8 March 2021 at 16 h 00 min
EUR/USD is on the cusp of test the 200-Day SMA (1.1813) for the first time since May 2020 as the exchange rate fails to defend the January low (1.1952). […]
Latest Forex Analysis
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AUDUSD’s Downside Risks Persist as Descent Stalls
by XM.com on 8 March 2021 at 15 h 39 min
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US 500 Index Hovers Between Short-term SMAs
by XM.com on 8 March 2021 at 15 h 37 min
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March Flashlight for the FOMC Blackout Period: No Major Policy Changes but Perhaps Some Technical Tweaks
by Wells Fargo Securities on 8 March 2021 at 15 h 35 min
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New Zealand Dollar Under Pressure
by MarketPulse on 8 March 2021 at 15 h 27 min
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Sunset Market Commentary
by KBC Bank on 8 March 2021 at 15 h 24 min
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AUD/CAD is medium term correction after breaching 0.9173 support
by ActionForex.com on 8 March 2021 at 14 h 40 min
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USD/JPY Mid-Day Outlook
by ActionForex.com on 8 March 2021 at 14 h 08 min
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USD/CHF Mid-Day Outlook
by ActionForex.com on 8 March 2021 at 14 h 05 min
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GBP/USD Mid-Day Outlook
by ActionForex.com on 8 March 2021 at 14 h 01 min
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EUR/USD Mid-Day Outlook
by ActionForex.com on 8 March 2021 at 13 h 20 min
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Dollar Extends Rally, Euro Shrugs Solid Investor Confidence
by ActionForex.com on 8 March 2021 at 13 h 20 min
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WTI Oil Prices Rise to the Highest in 28 Months
by Windsor Brokers Ltd on 8 March 2021 at 12 h 41 min
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The Euro’s Woes Continue
by MarketPulse on 8 March 2021 at 12 h 39 min
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USDJPY Rises Around 9-Month High
by XM.com on 8 March 2021 at 11 h 37 min
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Yield Continue To Drift Higher
by Trade The News on 8 March 2021 at 11 h 32 min
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USD Strengthens After US Employment Report
by IronFX on 8 March 2021 at 11 h 31 min
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BoE Bailey: Feb forward guidance recognizes the sale of shock, uncertainty and risks around recovery
by ActionForex.com on 8 March 2021 at 11 h 28 min
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EUR/USD Reaches Below 1.1900
by Dukascopy Swiss FX Group on 8 March 2021 at 10 h 53 min
Trending Forex Analysis
What is Forex ?
The Spot, Cash or Money market is the biggest market. You probably heard about futures, options and forwards which are derivatives of the main Cash Market.
The word FOREX is derived from Foreign Exchange and is the most largest financial market in the world. Unlike many markets the FX market is open 24 hours per day and has an estimated $2.0 Trillion in turnover every day. This tremendous turnover is more than the combined turnover of all the wordls' stock markets on any given day. This tends to lead to the most liquid market and thus makes it a very interesting market to trade. The Forex Market is an OTC Market (Over The Counter), meaning it doesn't have to be traded on an exchange.
The FX market does not have a fixed exchange. Nobody can claim having the right price but the high liquidity of this market makes it autoregulated. It is primarily traded through banks, brokers, dealers, financial institutions and private individuals. Trades are still executed through phone and increasingly through the Internet as the Internet penetration is growing drastically. It is only in the last few years that the smaller investor has been able to gain access to this market, around year 2000. Previously the large amounts of deposits required precluded the smaller investors and the monopoly of the big institution enabled a lot of cheating. With the advent of the Internet and growing competition it is now easily in the reach of most investors and the margin of the institution reduced automatically.
