What moves the currency market

What moves the currency market

Trends. More than 80 percent of currency trading volume is speculative in nature and, as a result, the market frequently overshoots and then corrects.Also, many of the macro economic catalysts and events traders use in the equity or futures markets including gauging interest-rate changes and economic releases are also integral to forex trading. In addition, price moves in many commodities or indices are highly correlated to currency moves.For example, Australia is the world’s third – largest gold producer, which explains the Australian dollar’s 80-percent positive correlation with gold prices. As a result, many commodity traders can trade forex to spread their risk or leverage certain positions.

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Reply Gann Says
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Very good article to understand the support and resistance levels.thanks bro

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