Strategy To Make Money Off The FX market

Trading The FX market can be a lucrative way to make money if you have a firm understanding of what you are doing. The Foreign Exchange Currency Market also known as FOREX, is one of the largest financial markets in the World, and the great thing about it is that it is not heavily regulated or controlled by any major institution, in turn allowing the ordinary person to make money off the FX market if they are properly educated.

The FX market operates 24 hours, 6 days a week and is extremely liquid so it is well suited to intraday and swing traders who are looking to make quick profits in a short timeframe.

However the truth of the matter is that even after most new traders have educated themselves on how the FX market works, they still struggle to make money and eventually become part of the 90% of traders who lose money in the world of Forex. You see trading the FX market is not that simple, and to become profitable you must gain a competitive edge over the competition, and in order to do so you must be an expert or become one fast if you wish to succeed.

A smarter and more efficient way to make some money off the FX market would be to follow in the footsteps of the experts who have already figured out how the market works and developed their own profitable systems to trade the FX markets.

ForexGen | Short-Term Forex Technical Outlook USD/JPY

Risk trends remain a dominant theme in the currency market, and continues to favor a bullish outlook for the Japanese yen.

Currency Pair: EUR/USD

Chart: 60 Min Charts
Short-Term Bias: Bearish

Analysis


Risk trends remain a dominant theme in the currency market, and continues to favor a bullish outlook for the Japanese yen. After reaching a low of 90.90 on 10/24, the USDJPY surged to a high of 100.58 on 11/4, but has pared gains over the past two weeks to hold within a broad range. The dollar-yen made a few attempts to push higher, but the lack of momentum suggests that investors remain bearish against the pair. At the beginning of the week, the pair surged higher to cross above 96.90-97.00 (38.2% Fib level), but retraced those gains to break back below the 120 SMA. Over the remainder of the session, we may see the pair to work its way down towards 94.60-70 (61.8% Fib level), and a break below this level could send the pair back towards the October lows over the near-term.

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