The US dollar rose versus its main forex rival the euro yesterday after reports came out stating that some of the Eurozone's central banks may well be willing to swap their Greek debt holdings. This makes the European leaders come on track to approve the bailout for profligate Greece next week.
The EUR/USD forex pair touched a low of 1.2973 yesterday before the start of the North American forex trading session, but is as of writing back up to around 1.3130
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.
