Forex Trading - Today's Biggest Market

About Forex Trading

Forex(Foreign Exchange)is the largest and most liquid market in the world today. Turnover value of forex equivalent to $ 1.9 trillion, three times larger than the combined average number of shares and bonds markets. The forex market operates 24 hours a day and transacted through the global network of banks, ranging from Asia, Europe and America and has no centralized exchange that is referred to as OTC products (over the counter). Forex trading is done by buying or selling currencies to take advantage of price fluctuations.

Forex Products

1. Euro / U.S. dollar (EUR / USD)

2. Pound Sterling / U.S. dollar (GBP / USD)

3. U.S. Dollar / yen (USD / JPY)

4. U.S. Dollar / Swiss franc (USD / CHF)

5. The Australian dollar / U.S. dollar (AUD / USD)

6. Euro / pound (EUR / GBP)

7. Euro / yen (USD / JPY)

8. Pounds / yen (GBP / JPY)

9. Swiss franc / yen (USD / JPY)

10. Australian Dollar / yen (AUD / JPY)

Advantages of forex trading

1. Largest participants and highest transaction volume

2. High liquidity and fast execution

3. 24-hour market

4. There is no time limit to have an open position

Yen Stable Under EMA 55

USD / JPY held steady near 78.80 area on the Asia-Pacific trade, which operates in a very tight range around 10 pips below the 55 EMA (79.80) after rising sharply on Tuesday night.

Valeria Bednarik, FXstreet.com Chief Analyst commented that the 4 hour charts, bullish momentum remains intact, rise to support the greenback, with 79.10 and 79.40 as resistance to scrutiny. To the contrary, she identified the level of support lies at 78.70, 78.50 and 78.30.

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Yen Rises Due to Strong U.S. Retail Sales Data

USD / JPY crept higher associated strong U.S. retail sales in July, which has prompted optimism in the U.S. economy and the improvement in risk appetite, said Kengo Suzuki, forex strategist at Mizuho Securities in Tokyo.

He said that the resistance to be around 79.00 yen, where the 'exporters to sell can be seen, and also at 79.14. "The yen seems to aim for the target 79," he said, citing the range 78.60 to 79.10. Yen last move near 78.86 yesterday.


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