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Historically, only dealing desk traders had this information, placing other traders in the forex market at a disadvantage.
With the Forex Order Book, compare OANDA's clients' open orders and positions for any major currency pair. Use the slider in the rate chart to see how the statistics have changed over the past 24-hours.
By studying the relationship of pending orders to positions, it is possible to deduce potential support and resistance levels for the current market. It is also possible to gain some insight into how OANDA's clients are thinking.
Open orders: see a snapshot of the trigger points for all open orders held by OANDA's clients.This information could be interpreted as an indicator of the client price expectations that are contributing to natural resistance and support levels.
Open positions: get a snapshot of the entry prices for all open positions currently held by OANDA's clients. This data could be interpreted as an indicator of the market's reaction to price changes, and the pressure on prices due to unrealized profit and loss.
To visit OANDA's Forex Order Book webpage, click here.