Today we will talk about a fairly common pattern in the market - Spike. It was first mentioned by Jack D. Schwager, an experienced trader and a well-known author of financial books. He argued that the reason for education is the psychological aspect of traders’ behavior. Spikes often appear due to panic among market participants or due to simple spontaneity in their actions.
We already have an article in our blog that explains that in times of instability of the US dollar, it makes sense to leave trading in majors for now. Their moderate risk level is no longer relevant. More and more traders start to think about switching to other types of trading instruments. Of course, cross-currencies become their next choice. However, today we will talk about more interesting currency pairs - exotics.
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