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The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of volume of trading, it is by far the largest market in the world

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AUD strength maintained

Australian Dollar:
Trading to an intraday low of 0.7836 when valued against its US Counterpart after China’s Flash HSBC Manufacturing PMI Index fell to an 11-month low, the move lower for the Australian dollar has proven to be short lived. Briefl…

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GBPUSD 60 Minute chart analysis

GBPUSD 60 Minute chart analysis

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Hello traders good to be back with you. As you can see we are looking at the GBPUSD chart and my bias is bearish from the daily chart. I placed about 90 minutes before the London open a support and resistance on the chart, I do this on all my 8 pairs that I watch. There was data released and you can see the big candle with the large wick. Well my friends this is an education when it is time to sit on your hands and not enter a trade. I would like to enter after it breaks below the 1.4900 price level and close with a bearish candle. The main point is there is no price action and no entry so there is no trade, I would like to see NY session take this pair down and get to my price where I can enter. Talk Soon…… William

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EURUSD Daily Forecast: March 24

EURUSD Daily Forecast: March 24

EURUSD Forecast    
The EURUSD had a bullish momentum yesterday topped at 1.0970. The bias is bullish in nearest term testing 1.1040 key resistance located around the H4 EMA 200 as you can see on my H4 chart below. A clear break and daily close above that area could be an early signal of a major bullish reversal scenario. Immediate support is seen around 1.0880. A clear break below that area could lead price to neutral zone in nearest term testing 1.0800 area.

eurusdh4

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GBPUSD Daily Forecast: March 24

GBPUSD Daily Forecast: March 24

GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.4837 but whipsawed to the upside and closed higher at 1.4950. The bias is neutral in nearest term. Immediate resistance is seen around 1.5000. A clear break above that area could trigger further bullish pressure testing 1.5050 – 1.5100 region. Immediate support is seen around 1.4900. A clear break below that area could trigger further bearish pressure testing 1.4850 or lower. I still prefer to stand aside for now.

gbpusdh1

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USDJPY Daily Forecast: March 24

USDJPY Daily Forecast: March 24

USDJPY Forecast
The USDJPY was indecisive yesterday. Price slipped below the bullish channel as you can see on my h4 chart below suggests a potential bearish scenario. The bias is bearish in nearest term testing 119.30. A clear break below that area could trigger further bearish pressure testing 118.70 area. Immediate resistance is seen around 119.90. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish scenario remains intact testing 120.30 – 120.60 or higher.

usdjpy4h

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