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When Does the Forex Market Open in Nigeria: A Comprehensive Guide to Forex Trading Hours and Strategies

Introduction to Forex Trading in Nigeria The foreign exchange (Forex) market represents a dynamic and complex global financial ecosystem that offers unprecedented opportunities for Nigerian traders. As Africa’s largest economy continues to evolve, understanding the intricacies of Forex trading has become increasingly important for both individual investors and financial professionals. The Significance of Forex Trading …

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How the Forex Market Works and When It Opens

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The foreign exchange (forex) market is where banks and individuals buy, sell, or exchange currencies. It’s the largest financial market in the world, according to the latest reliable data from 2022, when global daily trading was $7.5 trillion. It is a global decentralized platform where currencies are traded. Unlike traditional stock markets, which operate on …

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Introduction to the Basic Trading Terms for Beginners

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The world of forex trading can be exciting yet overwhelming, especially for beginners who are just entering. To successfully navigate through the forex market, it’s essential to understand the common terms used in forex trading. Whether you’re trading currencies, speculating on economic events, or building long-term strategies, learning these terms will help you make informed …

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7 Best Forex Brokers in Nigeria 2024

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The foreign exchange (forex) market is one of the largest and most liquid markets in the world, with trillions of dollars traded daily. The best forex brokers operate under strict regulatory supervision, offer robust research and analytical tools, provide access to a wide range of assets, deliver strong customer support, and more—all while maintaining competitive, …

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The 7 Ultimate Guide to Forex Trading Platforms for Beginners

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What is forex trading ? Forex trading is the simultaneous buying of one currency and selling another. When you trade in the forex market, you buy or sell in currency pairs. Each currency in the pair is listed as a three-letter code. The first two letters stand for the country (or region), and the third …

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Daily Market Analysis 21.02.2024: GOLD

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Instrument: GOLD+ Bullish Preference: A Buy position is envisaged if the price trades above 2032.71 With take profit at 2036.38 Bearish Preference: A Sell position is envisaged if the price trades below 2027.64 with Take profit at 2023.86 Fundamentals:USD FOMC Meeting Minutes 8:00pm Comment: Copper and gold are expected to see the largest immediate price boost in the commodities sector …

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Daily Market Analysis 21.02.2024: US100

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Instrument: US100+ Bullish Preference: A Buy position is envisaged if the price trades above 17596.23 With Take profit at 17631.46 Bearish Preference: A Sell position is envisaged if the price trades below 17523.80 with Take profit at 17494.61 Fundamentals:USD FOMC Meeting Minutes 8:00pm Comment: In the lead-up to Nvidia (NASDAQ:NVDA) eagerly anticipated earnings announcement, big tech stocks, including Nvidia, have …

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Daily Market Analysis 09.01.2024: EURUSD

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Instrument: EURUSD Bullish Preference: A Buy position is envisaged if the price trades above 1.09728 with a take profit at 1.09880 Bearish Preference: A Sell position is envisaged if the price trades below 1.09397 with a take profit at 1.09268 Fundamentals:No Major Fundamental Comment:EUR/USD corrected downwards from late December to early January, but managed to stabilize and bounce after …

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Daily Market Analysis 09.01.2024: GOLD

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Instrument: GOLD Bullish Preference: A Buy position is envisaged if the price trades above 2037.82 with a take profit at 2041.21 Bearish Preference: A Sell position is envisaged if the price trades below 2029.76 with take profit at 2026.53 Fundamentals:No Major Fundamental. Comment: Gold prices rose slightly in Asian trade on Tuesday, recovering from a rough start to the year …

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Daily Market Analysis 19.12.2023: USDJPY

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Instrument: USDJPY Bullish Preference: Buy position is envisaged if price trades above 144.457 WithTake profit at 144.751 Bearish Preference: Sell position is envisaged if price trades below 143.249 with Take profit at 142.922 Fundamentals:3:49AM JPY: Monetary Policy Statement 7:30AM BOJ Press Conference Comment: The Bank of Japan (BoJ) will provide an update on monetary policy …

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