We are constantly rounding off numbers in our day to day activities. It occurs when we go to the market, read the temperature, buy a piece of property or go to the gas station. We are immutably drawn to round numbers and numbers that end in zero. In 1999 the Dow Jones Industrial Average hit the 10,000 mark for the first time. Investors were testing this level for almost two weeks before it finally closed over the 10,000 mark.
This even was cause for much celebration as it was considered a major milestone.About seven years later the Dow was trading at only 11,000. The investors that were driven into a frenzy when it hit 10,000 had little to show for it some years later.In 1999 the success of the Dow was one of the most publicized events of the year. So fChoosing a Forex Broker that is right for you is an essential step towards a successful online trading experience.
Anyone interested in trading or investing Forex online round number forex trading download to select a Forex Broker in order to facilitate their online trading, as there is no central market for this activity.During the past few years, there has been major growth in the number of online Forex Brokers, each with their own unique parameters.
A lot of orders are placed around these levels. During the last few years the importance of the round numbers increased because they are used for options barriers levels and are protected. That is why when the market approaches such levels the price movement is countered by these order flows and small retracement usually happens.