The Relationship Between the AUD and Gold
As a commodity currency, the AUD displays correlation with a number of commodities, but gold is particularly interesting to Forex traders, as it is often traded as a safe haven currency in its own right. From 2002 to 2005, the AUD usually served as a proxy for gold with a 96% degree of correlation with the US gold price.How Do You Successfully Trade The Forex Market?
Successful Forex market trading is an accomplishment that can be achieved via different trading methods. However, whichever trading method or system you ultimately end up using, there are some components to successful Forex trading that are necessary and thus must be present. So, let’s go over these components so that you can make learning Forex trading as effective and efficient as possible.Know More About Forex Currency Pairs
Before I began Forex trading, I learnt about fundamental analysis which is the aspects influencing currency pair prices. Do technical analysis based on your charts and indicators, but also know macroeconomic events that can affect currency pairs. It’s best to learn each currency’s features, as it will be helpful when trading.Forex Charting Software – Draw Lines and Trade
Forex charting software is used by FX traders to perform forex technical analysis, which assists them to make far better trade decisions. Charts are useful to visually interpret and represent analytical data in an attractive and lively fashion. Essentially, visual charts tell you when the market is trending for you to enter into a trade, give you stop levels, help you decide on a target for your trade, and give you an indication when the trend may be ending.Binary Option Description and History
A binary option, in finance, refers to an option where the payoff is either a specific amount of a particular asset or nothing at all. It is called a binary option because of its binary nature where only two outcomes are possible.