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Fibonacci technical study

The Fibonacci Fans and Bands are three-line guides drawn on charts derived from the Fibonacci number series.

Some traders believe they help identify successive areas of support and resistance in a market.


A device typically used to protect private networks against malicious attacks from the Internet. A firewall restricts the type of network traffic that is allowed to pass to/from the Internet, and can sometimes cause problems with the operation of Client Station.


A chart style that takes the current close price as the base-line, and plots each data point relative to this base-line.

Forward outright

An order to trade a Forex instrument at a fixed price on a fixed date. The price of the forward outright is the spot rate adjusted for the interest rate differential between the two currencies until maturity. Forward Outright orders are often used to hedge exposure risks when dealing in foreign markets.

Forward-forward contract

An order to trade (for example, buy) a Forex instrument at a fixed price on a future date, or to conduct the opposite transaction (for example, sell) at a later date at a fixed price.

Foreign exchange trading

Foreign Exchange trading is an alternative term for Forex trading, FX trading and currency trading. Saxo Bank is the provider of an online Foreign Exchange trading platforms and software.

Futures/Futures contract

A legally binding agreement between a buyer and a seller on a market for derivative financial instruments. Contract specifications are standardized. They include a firm and final price for payment – and, where appropriate, delivery of the underlying asset – at a fixed date in future.