What is Currency Depreciation?

What is Currency Depreciation?

Currency depreciation refers to the fall in value for a country’s currency when compared to other currencies in the forex market. When your country’s currency depreciates, it means that you will have to use more units of your currency to purchase a single unit of a different currency. It, thus, becomes cheaper to purchase your currency, but expensive for you to access an alternative currency. A country’s value of currency often falls or drops as a result of various elements. The elements are as described below.   Causes of Currency Depreciation 1.            A deficit in Balance of Payment (BoP) Balance Continue Reading →

Forex Support And Resistance Trading Strategy

Forex Support And Resistance Trading Strategy

Finding support and resistance levels in forex trading are some of the most crucial and critical skills for traders. Moreover, almost all reliable trading strategies use support and resistance analysis to improve or determine their trading methods. The two levels, support, and resistance develop around the key areas approached or rebound regularly by the price, making it highly essential for positive trading gains. What are Support and Resistance Levels? Support and resistance are price levels on a chart that traders use to find potential price opposition. They are also psychological levels that depict the varying attitudes of different market players, Continue Reading →

Tips for Forex Trading Beginners

Tips for Forex Trading Beginners

Forex trading may be a very new concept to many that have never heard of it. If one is curious to know what forex trading is, they hence need to learn all about it. It could start with a simple google search of what forex trading is. 10 Tips for Forex Trading Beginners There is always a beginning to something one gets into. This article will highlight ten tips for beginners in the forex trading business. Know the markets A forex trader needs to begin by knowing the forex markets. The markets are crucial for anyone who aspires to be Continue Reading →

How To Become A Succesful Forex Trader With Technical Trading Skills

How To Become A Succesful Forex Trader With Technical Trading Skills

Forex trading is a large and confusing enterprise. There are many forex traders who have experienced success. These successful forex traders attract many people into the open to join forex trading market. Once these people have joined the market, many are not patient enough to succeed as their role models. Success in forex trading is easy. It needs to gain the technical skills of a pro and the patience to become a longe term trader rather than expecting quick riches. If you are starting out in forex trading, here are some tips on how to become a successful forex trader. Continue Reading →

Top Forex Technical Indicators All Traders Should Know And Use

Top Forex Technical Indicators All Traders Should Know And Use

There are many forex market indicators used by traders. Indicators are used in analysis and trade decision making. They help traders to predict how the price of a currency pair will move in the market. When you make a good prediction, you make a good profit. To become a better trader, you must be good at using indicators. They are embedded in every forex trading platform. Learn how to use them well and combine them with a good strategy for forex success. What Are Technical Indicators? Technical indicators are tools that apply mathematical formulae to analyze various aspects of forex Continue Reading →