Forex Trading Strategies & Technical Analysis
The foreign exchange market (Forex, FX, or currency market) is a world-wide, over-the-counter financial market for trading currencies. It is the largest financial market in the world with a volume of over $5 trillion a day worldwide. Total forex market volume is well over three times the total of the stocks and futures markets combined.
There is no central marketplace for forex trading; trade is conducted over the counter. The forex market is open 24 hours a day, five days a week and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney.
Forex Trading at a Glance
With forex trading, there is an increased amount of leverage which means that traders can lose a large portion of their trading capital if the market makes a significant move against the traders current positions. Therefore, forex is a high- risk product and may not be suitable for all traders. Traders who are interested in forex trading should review in-depth forex trading strategies and forex technical analysis documents to gain a better understanding of the market and decide whether or not forex trading is right for them.
There are many currencies and combinations of currency pairs that are traded on the forex market. The major currency pairs include: US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily forex trading happens in the major currency pairs.
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