It’s important have a good understanding of how the overall economies work, with this general knowledge you can have a sense of the overall sentiments that may be strengthening or weakening towards a given currency, the overall macroeconomics works like this:
The Forex Market is traded with the sun in that it is traded 24 hours per day Sunday thru Friday. The FX market opens on Sunday 5:00 pm EST and remains open until 4:00 pm EST Friday. Due to the nature of global business currency is always…
Currency Rates fluctuate all the time and while new forex traders don’t understand what moves currency prices this may serve as a starting place for what affects various currency pairs.
The Forex Market is the largest traded market it the world
The Foreign Exchange Market, also called the “Forex,” “FX,” 4x,” and “currency market” is a market where one currency is exchanged for another currency. You may see during traveling that there is always a booth in the airport where money can be exchanged. While this is a very inefficient means of exchanging or trading currency, today there are brokerage firms that hold accounts where speculators or traders can trade one currency for another.
