Studying Forex (Beginner)

In this episode I learn that the Central Banks are the market makers. They use high tech algorithms to deliver price and do not use supply/demand, support/resistance, indicators, harmonics, wyckoff or any other type of retail jargon.

As an aspiring trader I have to understand what the overall market situation is for that currency pair. Is it bullish or bearish on the higher timeframes? i.e. daily, weekly, monthly .

To determine this we use the global interest rates and Commitment of Traders (Which allows us to have an idea where big players are postioned)

Websites:

GLOCAL INTEREST RATES: https://www.global-rates.com/en/inter...

Commitment of Traders : https://www.barchart.com/futures/curr...

Interest rate differentials: The difference between currency interest rates. If one currenceny pair has a higher interest rate than the other price is expected to go up. For example: If the American interest rate is at +2.500 % and the Japanese interest rate BoJ: 0.100 % I would expect USD to be bullish over JPY and if the Commitment of Traders also in line then funamentally the market for USDJPY would be expected to go higher. If a trade was to be taken higher profit targets would be reasonable for LONGS and smaller profit targets for SHORTS would be ideal...

End of Vol. 1 of 5

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