[AbeSmith]

Hello. I'm interested in Forex market. I've never done it before but I like the high leverage that it gives. So I've been looking at EURUSD on the daily chart and it is looking like it is going up. So I'm thinking of buying on a dip and holding it for several days or more. But I see the big 1.50000 not too far away. Seems to me it might be a major resistance, but again I don't know much about Forex and don't know how much impact a simple number can have in forex. Just wondering if anyone has any advice on this trade. I'm interested in investing $1000 with as much leverage as possible without risking getting stopped out on volitility. Can it be done safely? Or should I look into something else in Forex? Perhaps the USDJPY?

What things should I watch out for? Only thing I know about Forex is that interest rates play an important role. If interest rate of a country goes up, then people are likely to move their money out of that currency and into a higher rate currency. Seems to me the Fed is not going to cut interest rates anymore, because it is hurting the dollar. Does that sound right? Again, excuse my ignorance if I'm not making any sense. Just wondering how I can enter the Forex market for swing trading. Or is day trading Forex a better option? What are the major S/R points in Forex? Do Pivots play an important role?