Nial Fuller April 19, at 6: It is a bilateral transaction by which one party delivers an agreed-upon currency amount to the counter party and receives a specified amount of another currency at the agreed-upon exchange rate value.
More Currency Pair Analysis
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Making up the bottom of the range is current price support at the S3 pivot at a price of 1. As long as price remains between support and resistance, traders can continue to look for opportunities to trade reversals between these values.
In the event that prices do not hold the range, traders can begin looking for a continuation of the daily trend below the S4 pivot at a price of 1. This would signal a new lower low, in the direction of the pairs prevailing daily trend.
In a breakout based scenario, day traders can look to conclude any range based positions and adjust to the markets current directional bias.
This way you can develop your day trading techniques while tracking the market in real time. To contact Walker, email instructor dailyfx. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Take a free trading course with IG Academy. Our interactive online courses help you develop the skills of trading from the ground up.
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