As important it is to know how to trade, it is more important to know when to trade in terms of the forex market timing. Forex market is a world wide online market with no time limits when you consider the whole world as your base. The markets are active through the week except for a Saturday giving you five and a half trading days every week; taking into consideration the time zones. You can trade anytime in any market! But, to maximize the yield of the trade, the hours you decide to trade do matter.
Brexit is a small six-letter word, but hugely far-reaching in terms of impact. Ever since the referendum was announced by erstwhile British Prime Minister David Cameron, there had build a heady mix of excitement and tension in the months building up to the deciding hour. In the mass voting that followed on June 23rd, a majority of people in the United Kingdom chose to opt out of the European Union. As predicted by many economists, the pound slid down to a 31-year low of a $1.31 against the US Dollar. FTSE 100 found itself in exasperation, as the prices of major futures started plummeting.
British voters recently ignored the economists suggesting that a Brexit will harm their own economic situation. Similarly American voters seem to ignore the economists suggesting that Trump might be a catastrophic choice for the US economy; why people these days ignore economists? Are political believes more important? Have people lost their trust to economists and anything related to the global economic establishment? There is no easy answer but it seems that people are looking for something completely different perhaps exotic, something unconventional; they also seem uninterested about the warnings coming from different directions of the political, financial and media establishment.
In the last year, we have witnessed impressive growth in the value of the dollar. In the latter half of 2015, the dollar rose higher than 16% against a collection of world currencies. It has continued to increase steadily since early May and is expected to continue to grow. So, what has caused the rise of the dollar? We take a look at some of the factors that have contributed to the recent increase in value, both domestically and abroad, as well as what we can expect for the future.
Foreign exchange trading or more known as forex or FX trading is becoming popular. More and more people have become interested in this global market as it is also the largest market in the world. For those who do not know, forex trading is a global market where people from all around the world sell, buy and exchange the currencies with the current prices. As more people are exposed to the financial matters around the area of currencies, forex trading has become the trend and more people want to join and participate.
Prices in sugar futures contracts continued to rise, while at the same time CoT report shows a remarkable positioning among speculators and producers. Sugar futures have staged an impressive rally this year, gaining 16.60% on a year to date basis. On Friday, 20th May, sugar futures closed at $17.07, closing at a 15-month high. Prices briefly tested $17.29, marking a 16-month high before retreating.
Despite the popular belief, there are very few traders who really know how to read forex charts. Sure, plenty of people know how to interpret them, and those who do not can always rely on someone else crunching their numbers for them – at their own peril, of course.However, forex charts analysis is not something that should be left to other people.
The forex market is unlike any other market, there are no fixed rules or guidelines to ensure profitability. There are no classrooms providing the training towards better performance. The one and only way of becoming a successful trader is by practice and through practice. The more you try, learn, understand and judge wisely, more the chances of growing into a professional successful trader. There are many important lessons that you need to keep in mind while trading.