One of the most important aspects of trading the Forex market is to understand what drives price movement. We are often told that the market operates on a 24 hour basis 7 days a week - this is true but it does not mean that that you can apply any technique at any time and expect the same or even good results.
Contrary to popular belief the Forex Market is still driven by human behaviour. Volumes increase when the participants in the Forex market are physically at "the Office" working and volumes and activity dies down when those participants go home and sleep. Many email list Forex traders focus so much on technical analysis that they ignore market behaviour completely. The Forex traders who are successful are masters at understanding market behaviour and then merely use appropriate technical analysis to enter the deal.
A fact to consider is that there is no official Forex market as there is a Stock, share or Bond market. Activities in the Forex market occur as a result of activities in all the other financial markets. So we need to study the times when these financial institutions open and close. A study of the trading volumes going through the Forex Market show how important the opening and closing of financial markets are to the Forex market.
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