Forex Trading Daily Forecast EUR/USD

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CURRENCY TRADING

forex

Foreign Exchange Market, also known as "Forex" or "FX" market is the largest financial market in the world. According to sources in the financial industry it has a daily turnover of over U.S. $ 3 trillion-tens of times more than the turnover of all stock markets in the U.S.
The U.S. dollar is the basis of foreign exchange (Forex market) and it is considered as a 'base' currency for the quotes in the major currency pairs like USD / CAD, USD / CHF and USD / JPY. For these currencies and many others, the quotes are presented as one U.S. dollar to other currency that is quoted in the pair. As exceptions to this quotation based on U.S. dollar are Euro, Australian, British pound and the New Zealand dollar.

 

Currencies’ prices are influenced by many economical and political factors. Among the most important are the interest rates, inflation and the political stability in the country for the relevant currency. Sometimes governments participate in the Forex market in order to influence the value of their currencies or by flooding the market with local currency as in this way they aim to reduce its price or by buying the currency to raise its prices. This approach is popular as an intervention of the Central Bank. Each of these factors, as well as the large market orders may increase the lability of the foreign exchange markets. However, the size and volume of trade exchange market is so large that it makes it impossible for one participant to "drive" the market for any period of time.

Currency traders make decisions using technical factors and economic foundation. Traders who rely on technical factors use graphics, trend lines, levels of support and resistance, many graphical and mathematical analysis formed to assess the trade opportunities. Traders who use foundation to anticipate the price movements, interpret a wide range of economic information such as news, announced by the government data, reports and even rumours.
The largest movements occur when unexpected events happened. Examples of events are the increase in local interest rates from The Central Bank, an unexpected outcome of political elections or even a military act. Even though, expectations for such an event to move the market are more common than the fact of the event.

Forex Trading Daily Forecast EUR/USD

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