NEW YORK (Forex News Now) – Forextrading is the buying and selling of currencies against one another in the global forex market.
Worldwide, financial centers function as anchors of forextrading between a wide range of different types of buyers and sellers – 24 hours a day, five days a week.
While large multinational corporations and financial groups are involved forextrading, there is a growing number of retail FX traders who also engage in forextrading, often from their own homes.
Any currency can be traded against any other currency in forextrading; however, there are a number of currency pairs that are the most heavily traded in forextrading: EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD and NZD/USD.
Many FX traders pay close attention to indicator analysis while engaging in intraday forextrading; it follows, of course, that intraday analysis is also of great importance while practicing such forextrading.