can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate. Candlestick charting is nothing new, it is centuries old and may possibly be the oldest form of technical analysis still in use today. This is for good reason...IT WORKS! Rather than relying on indicators, candlesticks teach the trader to watch price movement and look for signs of weakening trends, trend reversals and continuations of trends. Once the method of candlestick charting is learned these patterns stick out like a sore thumb on a chart and are easily taken advantage of by the forex trader.
Foreign exchange plays a vital role in foreign trade and business as products or services bought in a foreign country must be paid for using that country's currency. Foreign exchange rates between different currency pairs show the rates at which one currency will be exchanged for another.
The Fx market is open 24 hours a day, 5 days a week with the most important world trading centers being located in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney. Due to all the above, and not limited to the above, the forex trading market is today the world's most liquid and most volatile market, with over $5 trillion traded daily.
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