Fundamental analysis provides for market depth data in comparison with all limit-based orders available from Forex broker’s clients. Market depth data will only be available if you trade with a reliable broker. There is no unified way to determine the true market depth of Forex. FOREX is a decentralized market, it has no fixed centralized exchange, where all data could be gathered. Thus, it is impossible to measure the true market depth in currency trading. The direction of the market - the so-called trend - can be determined. You should switch to the daily charts to identify the main trend. It should be seen without any indicators. In case with a ranging market, you have to seek the answer about the market trend from the higher chart – a weekly chart. Trading news is recommended to determine the main daily trend. You should also review Forex Economic calendar, especially the Forecast column to analyze market expectations. If after comparison of the forecast and previous data you get the same suggestion about the market direction as the daily trend, you can consider trading it.
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