The Most Traded Currencies in Foreign Exchange

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According to the Bank for International Settlement Triennial Central Bank Survey (BIS), the Foreign Exchange market (or FX or forex market) is the largest and most liquid in the world with a global turnover measuring $5.1 trillion per day in 2016. As disclosed in the table below (courtesy of BIS), foreign exchange swap transactions cleared … Continue reading The Most Traded Currencies in Foreign Exchange

Measure Market Momentum Using the Awesome Oscillator

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Born in 1932, Bill Williams is a US-based trader and the author of a number of books on trading, and also the gentleman behind the Awesome oscillator indicator (AO). In addition to this, Williams is the creator of other well-known technical indicators, such as the Accelerator oscillator, Alligator, Fractals, Gator oscillator and the Market Facilitation … Continue reading Measure Market Momentum Using the Awesome Oscillator

Trading the Forex Market Using Bullish and Bearish Pennants

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Observing sharp moves form in the foreign exchange market followed by periods of consolidation is common viewing. The problem traders have, though, is deciphering whether the pause in market price is the beginnings of a reversal, or a pullback before proceeding on its initial course. A chart pattern that places a framework around this type … Continue reading Trading the Forex Market Using Bullish and Bearish Pennants

Relative Strength Index: How to Trade Using the RSI Indicator

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Nowadays, popular trading platforms offer in excess of 100 indicators. You could say you are almost spoilt for choice. The mammoth selection, however, tends to be detrimental, often leaving traders overwhelmed, particularly those in the earlier junctures of their journey. Fortunately, a handful of indicators have stood the test of time. Including, but certainly not … Continue reading Relative Strength Index: How to Trade Using the RSI Indicator

MT4 vs. MT5

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Irrespective of experience, you’d be hard pressed to have not heard of MetaTrader, or MetaQuotes Software. Established in 2000, MetaQuotes Software Corp. is one of the leading developers of software applications for brokerages, banks and exchanges. The company has developed a series of popular products, ranging from a simple FX Charts platform to the MetaTrader … Continue reading MT4 vs. MT5