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For example, if you have a long overnight position on EURNZD, the because the interest rate on the New Zealand dollar is higher than the interest rate for the euro, you are debited with negative rollover swap or overnight financing fee. Conversely, if you held an overnight short position on EURNZD, then your position is credited with a positive swap or rollover fee. Depending on the number of days you hold your position and the currency pair that you are trading, your account will be credited or debited accordingly, which can in turn increase you cost of transaction or reduce it. With an average turnover in excess of USD 5. 3 trillion per day according to the preliminary global results from the 2013 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity, forex FX is the largest market in the world in terms of volume of trading. Like any other trade, forex trading isn’t without its fair share of myths.
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As you can see in the example below, the currency kept making higher highs and higher lows and made a fantastic uptrend indicated by the green circles.
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fx trading forex