At one point, fxstreet reprinted excerpts of the Bank of International Settlements Triannual Survey on the Forex Markets In it, total speculative activity as a pecent of daily turnover was estimated at 95 percnt
I am curious...are retail traders exposed to this liquidity with their dealers/marketmakers?..el Cid? FragmentedSavant Let's say the published "advertised" reports are correct and the market trades appx $1.5 trillion a day.
Surfer: " what do you think TA is based on ? " â science Bank of International Settlements 2004 Triennial Survey http://www.bis.org/triennial.htm
My guess, which is not uninformed, is that a single act of wiring money home by a guest worker (Germany to Turkey, for instance) is more involved in the foreign exchange market, and has more influence on it, than all the trades of any 100 customers of a fx retailer.
The above explains the famous advertising campaign of a well-known moneygram biz.: âPlay with the Big Boys in Forex, Wire Your Dough Here.â
In which case it would be normal for a chart to look like this (on all time frames) and if they did, then I couldn't argue with you, but they don't.
Unfortunately a sideways market can be present in FX, same as in commodities, equities, etc. But if you look at the monthly chart, recent sideways observed on daily is simply a pause, is it not?
"Convergence" is a prerequisite to the UK adopting the Euro which is the government's aim so we can expect the range to narrow until we say goodbye to GBP.