Forex (short for Foreign Exchange) is the global marketplace where currencies are bought and sold. It is also known as the FX market.
In Forex trading, currencies are traded in pairs, where one currency is exchanged against another.
Examples:
- EUR/USD – Euro vs. US Dollar
- GBP/JPY – British Pound vs. Japanese Yen
Traders can take positions based on their market expectations:
- If they believe a currency will increase in value, they may open a Buy (Long) position.
- If they believe a currency will decrease in value, they may open a Sell (Short) position.
Market Hours
The Forex market operates 24 hours a day, 5 days a week, through major global trading sessions:
- Sydney
- Tokyo
- London
- New York
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