What is the Forex?
Foreign Exchange market also known as the Forex or FX market is the largest financial market in the worlds, with a daily average turnover of US $1.9 trillion, it means 30 times larger than the combined volume of all US equity markets.
Foreign Exchange is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs e.g. Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY)
There are 2 reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation
For Speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called “the Majors”. Today, more than 85% of all daily transactions involve trading of the Majors, which include the USD, JPY, EUR, GBP, CHF, CAD, AUD and NZD.
Foreign Exchange is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs e.g. Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY)
There are 2 reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation
For Speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called “the Majors”. Today, more than 85% of all daily transactions involve trading of the Majors, which include the USD, JPY, EUR, GBP, CHF, CAD, AUD and NZD.
AUDNZD Technical Fundamental
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