Test your trading acumen with our latest weekly quiz, designed for enthusiasts in our community eager to challenge their understanding of the trading world. With 15 questions covering a range of topics, see how well you know the ins and outs of trading.
- If the forex market is the largest financial market in the world, how big is it?
- $60 Billion
- $60 Trillion
- $6 Trillion
- What is the second most traded currency?
- JPY
- Euro
- GBP
- One important thing to note about the forex market is that most currency trading is based on speculation.
- False
- True
- Which currency pair has the nickname: Chunnel?
- EUR/USD
- EUR/GBP
- EUR/JPY
- A bull market, a _____ level is an area that price has difficulty breaking through the downside.
- Retracement
- Resistance
- Support
- When drawing trend lines, you should never _____.
- Never force them to fit the market.
- Connect a top and a bottom.
- Not connect subsequent tops and bottoms.
- When the price is trading within a channel, what is it doing?
- Four green candlesticks form
- Price trades within two parallel lines
- Price trades within two intersecting lines
- Which currency pair has the nickname: Loonie.
- USD/CAD
- USD/JPY
- NZD/USD
- In Forex, what are the three main types of analysis?
- Fundamental, technical, sentimental
- Statistical, technical, mechanical
- Fundamental, quantitative, qualitative
- The market reflects all available market information because all traders have access to the same prices of data.
- True
- Sometimes
- False
- Which type of analysis looks at historical price movements to determine the current trading conditions and potential price movements?
- Technical analysis
- Fundamental analysis
- Sentimental analysis
- When a trader believes that price will go up, he is feeling _____.
- Bearish
- Bullish
- On the following answers, which is the biggest disadvantage of going through a centralized exchange?
- Guaranteed execution
- Low liquidity
- Price manipulation
- Which Central bank policy action tends to have the biggest effect on exchange rates?
- Buying lottery tickets with reserves
- Controlling the supply of money
- Adjusting interest rates
- In a free-floating system, what determines exchange rates?
- Currency pegs
- Gold reserves
- Supply and demand
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