Education
As the Forex market continues to grow in popularity, millions of people
across the globe are now discovering the benefits of trading in the foreign
exchange market and how it could potentially benefit their lives and inflate
their bank accounts.
Would you rather stay up to date with 2800 business models or “The six major” Forex currency pairs?
I believe I know the correct answer if you’re a sane individual.
As the Forex market continues to grow in popularity, millions of people
across the globe are now discovering the benefits of trading in the foreign
exchange market and how it could potentially benefit their lives and inflate
their bank accounts.
Forex market is a term used for the Foreign Exchange market. Now just like we sell and purchase shares and stocks in the stock market, similarly in the forex market we buy and sell currency pairs against each other.
Understanding the forex market, you have to understand that currencies come in pairs. Forex market refers to trading currencies in pairs to make things easier.
If you’re interested in understanding how the wheels of this so called “complicated” process turn, then you have come to the right place! But for that, we will have to start from the start so that we can completely comprehend how forex works, how far has it come and how fast is it growing. So are you ready? Then come, let’s begin!
Once we manage to stay below the 1.13333 level we're definitely looking for a potential sell off prior to market close. we're being very much conservative on this one as its a Friday!
With the GDP announcement scheduled for Friday, June 11 (EST) this can be the final catalyst to decide the next move on this currency pair. Therefore this is definitely one for the watchlist.
HOW DOES THIS AFFECT US?
With innovations of this caliber, traditional banks in Jamaica are being forced to adopt technology they have never done so willingly. This will eventually allow the common man accessibility to the foreign exchange market for his own benefit as a retail trader.
Since the Australian dollar started to correct mid March, we've been very much bullish from a daily perspective.
Price action now trades around the 66 cents region since failing to break below the 64 cents region on multiple occasions with the last one being the bullish serge that started on May 18
Sadly, the culture of reading is slowly fading away. George R.R. Martin once said, “a reader lives a thousand lives before he dies and a man who never reads lives only once.”
Yesterday we saw GBPUSD fall 140 pips out of the sky rejecting the 1.24100 area and also respecting our famous trend-line.
Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.