What drives the Forex market?

  • What drives the Forex market?

    Posted by Chuck Eaa on December 30, 2023 at 6:57 pm

    So i pretty much know how to do technical analysis, however whilst Support & Resistance is clearly a thing, but often the prices just bust straight through them. What is it that actually does this?

    Chuck Eaa replied 6 months, 2 weeks ago 2 Members · 2 Replies
  • 2 Replies
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    WiseWill

    Community Trading Group Trader
    December 30, 2023 at 7:07 pm

    Hey Chuck, great question, it sort of illuded me for years but was also a niggling thing going on at the back of my mind. Basically, its the bank traders that drive the market (they trade the most volume, way more than retail traders which really don’t make a difference on the chart you are looking at). However, it’s not random and it is really just the bank traders interpretation of things like fundamental data, like interest rate differentials and economic data, and geo political issues. The Risk On Risk Off scenario demonstrates tthis point pretty well.

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      Chuck Eaa

      Community Trading Group Trader
      December 30, 2023 at 7:13 pm

      Whooa Thanks @WiseWill that was fast on this new forum. I will no doubt have more questions on this I will ping you soon.

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