Understand|Comprehend} the different kinds of markets in Foreign exchange prior to you start trading. Recognize how these markets act with specific currency pairs. If you are incapable to find trends and upswings and other details, you will certainly put your money on losing trades. Correct market research is a have to in this trading platform.
The British Pound continues to digest losses near the 179.00 figure after sinking to a two-month low against the Japanese Yen . A daily close below the 50% Fibonacci retracement at 178.85 exposes the 61.8% level at 176.29. Alternatively a reversal above the 38.2% retracement at 181.41 clears the way for a challenge of the 23.6% retracement at 184.58....GBP/JPY Technical Analysis: Loss Consolidation Continues
A great Currency trading pointer is to adhere to your plan once you have a strategy in location. It's not uncommon to be enticed by new and miraculous trading techniques. If you were to forget your plan and chase every new method under the sun, you'll wind up making inadequate decisions.
More to learn on Fibonacci Retracement
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