What was previously unheard of happened last Friday - the Standard & Poor's rating agency cut the rating of US debt from AAA to AA+. The US dollar weakened against the euro and its other rivals during Asian forex trading hours today. On the other side of the spectrum the euro open much higher - with a gap - for the day. Rumours have it that we can witness an intervention to support Italian and Spanish bonds. Forex traders have already taken the necessary positions to make use of this piece of information.
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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