I will use this thread to record all my learning process about Price Movement Analysis in forex market.
The basic concept of my analysis in this thread are base on:
FIRST:
"...Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to TheCityUK estimates has increased its share of global turnover in traditional transactions from 34.6% in April 2007 to 36.7% in April 2010. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. For instance, when the IMF calculates the value of its SDRs every day, they use the London market prices at noon that day...."
Taken from http://en.wikipedia.org/wiki/Foreign_exchange_market
SECOND:
"...The spot foreign exchange market has a 2 day delivery date, originally due to the time it would take to move cash from one bank to another. Most speculative retail forex trading is done as spot transaction on an online trading platform... "
Taken from http://en.wikipedia.org/wiki/Spot_market
THIRD:
The best article that i've ever read, and only a few new comer read this stuff
http://www.forexfactory.com/showthread.php?t=7484
KG
The basic concept of my analysis in this thread are base on:
FIRST:
"...Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to TheCityUK estimates has increased its share of global turnover in traditional transactions from 34.6% in April 2007 to 36.7% in April 2010. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. For instance, when the IMF calculates the value of its SDRs every day, they use the London market prices at noon that day...."
Taken from http://en.wikipedia.org/wiki/Foreign_exchange_market
SECOND:
"...The spot foreign exchange market has a 2 day delivery date, originally due to the time it would take to move cash from one bank to another. Most speculative retail forex trading is done as spot transaction on an online trading platform... "
Taken from http://en.wikipedia.org/wiki/Spot_market
THIRD:
The best article that i've ever read, and only a few new comer read this stuff
http://www.forexfactory.com/showthread.php?t=7484
KG