The US dollar made a huge splash on the forex market yesterday against most of its rivals definitely including the euro. Some forex analysts explain what happened as a shift in sentiment regarding the Eurozone's debt woes even after the S&P ratings agency lowered its outlook on US government credit to 'negative'. Forex traders, however, bought into the US dollar (why would they?), which is presently trading at 1.4270 down from over 1.44 yesterday morning.
other forex info
What is forex? The forex market is where one currency is traded for another. It is the largest market in the world, not only in Dubai. You could try following some bloggers' forex trading plan (at your own peril), or set up your own forex blog to better learn forex. That way, you can at least take note of the reasons for taking specific trades, what forex chart patterns they are looking at, and get some valuable forex tips from them. Don't forget about calculating the support and resistance area for the forex pairs you're following by using a Fibonacci calculator. This will help you immensely in your trading as most speculators will be looking at the same price levels, and you could possibly predict the moves of currency pairs.
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