Manchester United vs West Ham

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Basically, forex trading is the act of speculating on the movement of exchange rates by buying one currency while simultaneously selling another. The value of the currency rises and falls against each other due to economic, geopolitical and technical factors.

Forex is a globally traded market that is open 24 hours a day, five days a week, Monday through Friday. Follow the movement of the sunrise around the Earth as it opens Monday morning in Wellington, New Zealand before advancing towards the Asian markets in Tokyo and Singapore. It then moves to London before closing on Friday evening in New York.

Even when the markets are closed from Friday to Sunday, there is always something going on that will have an impact on the different currencies at the opening of the markets on Monday.

The match ended Manchester United winning 2-1

Goals scored by Cristiano Ronaldo and Lingard

The forex market is the most traded in the world with a turnover of more than $5 trillion per day. This means that currency rates fluctuate against the prices of other currencies constantly, which creates trading opportunities for investors to take advantage of.

It is rare for two currencies to be equal in value to each other, and it is also rare for any two currencies to hold the same relative value for more than a short period of time.

You may not realize that you have participated in the forex market at least once in your life. Let's say you are planning a vacation in the United States and you will need to exchange money from British Pounds (GBP) to US Dollars (USD).

On Monday you go to a currency exchange and find that the GBP/USD exchange rate is $1.45. This means that for each pound exchanged, you will receive $1.45 in return. Spend £100 to get $145.

But on the other hand, you return to the same currency after a few weeks, and you notice that the GBP/USD exchange rate has become $1.60. If you spend £100 now you will get $160, an increase of $15 if you are aware that the value of the British pound is going up against the US dollar.