If you could see the forex order book would this make a difference to your trading? The benefit that bank traders have is that they can see the interbank order book. The cost to access this is far beyond the reach of most retail traders but there are a number of brokers that provide details of their books which can be taken as a good guide as many traders are working on similar principles.
The video below demonstrates how you can look at these net order and positions to see areas of demand and resistance. It may not necessarily give you a trade but may stop you taking a trade when you can see what lies beneath.
We have access to a major order book which we have calculated the net positions of both the open orders and current net open positions on the major forex pairs* as shown on the video. You can subscribe to this for just £97 (plus VAT) per year which is great value.
*Note we currently have the order book for the EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD and NZD/USD. The most volume and hence the more reliable data will be for the EUR, YEN and GBP although the others are still there as a guide.