What is forex?

Forex stands for foreign exchange. Sometimes its also called FX.

A simple way to understand the foreign exchange market is to think of it as changing money when you travel abroad. When you alter money, you sell money and buy another at the current exchange rate. This is because the worth of your own money is not equal to the worth of the money you require to buy. In effect, you have traded money and this is similar to foreign exchange trading.

POUND NOT ABLE TO PRESERVE ONE PARTICULAR-WAY MOVEMENT TO UPSIDE

The Great Britain closed lower today despite another positive economic report that added to evidences of recovery in the United Kingdom. Forex traders were concerned that the currency was going too long in one direction.

Public sector net borrowing excluding temporary effects of financial interventions was at £13.2 billion in August. It was £1.3 billion lower than the budget deficit of £14.4 billion a year ago. Analysts have predicted slightly higher reading.

EURO RECEIVES AID FROM IMPROVED MORALE

Euro is getting a little help today, thanks to improved morale in the eurozone. Even though the 17-nation currency is struggling against the US dollar, the euro is higher against some of its other major counterparts. There is a lot for Forex traders to think about as this week draws to a close.

What is Forex Signal ?

A Forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time.The signal is generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method.

Source : Wikipedia