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Market Structure

WatchTower Research on market structure: clear, practical explainers using the same data the terminal runs on across FX, metals and indices.

All Getting StartedPositioningCentral BanksFX FundamentalsMarket Structure
WatchTower Terminal cross-asset risk read: a fear-and-greed gauge with the regime favouring havens (JPY, CHF, USD) and pressuring high-beta currencies (AUD, NZD)
Market Structure

Risk-On, Risk-Off: How Sentiment Drives FX

Some days one thing moves every currency: the market's appetite for risk. How to read the risk regime, and why it overrides the fundamentals.
A currency correlation matrix in WatchTower Terminal, colour-coded from minus one to plus one across the majors
Market Structure

Currency Correlations: Why Pairs Move Together

Currency pairs are not independent. Understanding which ones move together, which move opposite, and why it changes in a panic keeps you from stacking the same bet.
WatchTower Terminal advanced chart with session overlays marking the trading day
Market Structure

FX Trading Sessions and Liquidity

The FX market runs 24 hours, but it does not trade the same all day. Understanding the sessions and where liquidity concentrates changes how you read every move.