Forex Basics

Synthetic Currency Pairs

A synthetic currency pair is a pair artificially created by opening two opposite positions for other currency pairs in Forex. As a rule, traders resort to the creation of a synthetic currency pair when a broker or a liquidity provider itself doesn’t have this currency pair in their set of symbols.

“Flag” Pattern in Forex

The “Flag” pattern is a technical analysis tool in the Forex trading that predicts continuation of the current market tendency (trend) and consists of two parts: the “flagpole” and the “Flag” (the channel within which the price moves). Here is an example: If we consider the “Flag” pattern in terms of waves, the “flagpole” is an impulse, and the “Flag” itself is a retracement. When the retracement is over, a new impulse occurs and thus the previous trend resumes.

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