Stock markets go up and down. During these troubled times of a global economic crisis, stocks are tumbling down. Even on the day of Obama’s inauguration, stocks went down.
In the Forex market, trading is in currency pairs – which means that when a currency weakens, it loses ground to another currency. So, there’s always a currency that goes up.
In the past few months, the currencies that went up are the US dollar and the Japanese Yen, while European currencies such as the British pound, Swiss Franc and the Euro went down. Also the Swedish and Norwegian currencies have suffered.
What will happen in 2009? Everyone is looking for signals in Forex. Well, here’s a a list of Forex forecasts for 2009. Most forecasts distinguish between the first half of 2009, and the second half, in which some kind of recovery is expected.
This is why I like forex trading, and this is why these bad times, the forex market swings a lot. These are definitely exciting times for forex traders.
On the other hand, forex trading, especially when using high leverages. Well, we must be careful in forex trading as well…