The foreign exchange market is where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
Election year historical data is a good base for identifying the range of outcomes for this year as 2020 is an election year. The data below shows the historical data, which may be relevant to how 2020 might shape up. Given the many unknowns in 2020 (impeachment, trade war truce, economy and the outcome of the election itself), this year is especially ...

There are scheduled news releases that come out daily, and certain news releases like Non Farm Payrolls and rate decisions have a massive affect on the markets. It is important to know when these news releases are due, and before the start of each month you should make a note of the important ones. I have a up-to-date economic calendar on this site which you can access here.
Election year historical data is a good base for identifying the range of outcomes for this year as 2020 is an election year. The data below shows the historical data, which may be relevant to how 2020 might shape up. Given the many unknowns in 2020 (impeachment, trade war truce, economy and the outcome of the election itself), this year is especially ...
Since the market is made by each of the participating banks providing offers and bids for a particular currency, the market pricing mechanism is based on supply and demand. Because there are such large trade flows within the system, it is difficult for rogue traders to influence the price of a currency. This system helps create transparency in the market for investors with access to interbank dealing.
Forex trading, also known as forex, currency or currency trading, is a decentralized global market in which all world currencies trade. The forex market is the largest and most liquid market in the world with an average daily trading volume exceeding $ 5 trillion. All of the world's combined stock markets do not even come close to this. But what does this mean to you? Take a closer look at Forex trading, and you may find some interesting trading opportunities not available with other investments.

Imagine a trader who expects interest rates to rise in the U.S. compared to Australia while the exchange rate between the two currencies (AUD/USD) is 0.71 (it takes $0.71 USD to buy $1.00 AUD). The trader believes higher interest rates in the U.S. will increase demand for USD, and therefore the AUD/USD exchange rate will fall because it will require fewer, stronger USD to buy an AUD.
The problem is that this is where traders are most likely to succumb to overconfidence bias. It's not uncommon for traders to complete a winning streak and then believe that they can't get anything wrong in the future. To believe this is of course unwise, and is only going to end in failure. Make sure you always analyse your trading sessions and look at your wins and losses in detail.
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