What is traded in forex? Back to list

Member SinceJul 08, 2021

Posts 737

Wilburn

Jul 29, 2022 a 12:22
The most commonly traded currencies on online platforms are the US dollar (USD), euro (EUR), Japanese yen (JPY), pound sterling (GBP), and Swiss franc (CHF). However, traders can begin trading cross-rates: currency pairs that do not include the US dollar.
If everything is going well in the country and economic indicators are better than expected, the national currency's exchange rate will most likely rise. And if the news is bad and the statistics for the region are not encouraging, traders cannot expect the currency to grow (strengthen). In other words, not everything is so simple; fluctuations occur within a week or day, which visual lines, known as technical trading indicators, help to work with. They aid in determining which direction the price is currently moving, how strong the current trend is, and what may occur next.
Traders are guided by these indicators and economic news from global news agencies' feeds. Users draw conclusions, seize a favourable moment to begin - and open transactions up and down, to buy and sell, based on the entire array of information.

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