FIGfx’s goal is to educate you in all aspects of global market activities and help you to build up your FX basics or simply refresh your knowledge using our essential FX.

Your success at trading is our ultimate goal. FIGfx provides you with leading news and articles so that you can capitalize on your strategies and build on your successes.

A forex introduction

Foreign Exchange (FX or Forex) is one of the largest and most liquid financial markets in the world. According to the authoritative Triennial Central Bank Survey from Bank for International Settlements, Basel, average daily turnover in April 2007 exceeded US $3.2 trillion, and evidence suggests that the market is still expanding. The spot market accounts for around a third of activity in the FX market.

How forex works

By buying (or selling) a currency, FX Traders look to earn a profit from the movement in the FX rate. The beauty of FX is that the cost of trading is so low. This means that trades can be transacted for the extreme short-term, literally seconds, as well as for a longer duration.

Fundamental analysis

Fundamental analysis is the application of micro- and macro-economic theory to markets to predict future trends. Major fundamental forces are frequently one of the key drivers of FX rates.
The following are a list of key US economic indicators:

Technical analysis

Technical analysis is another method of forecasting prices. It studies past price action in an attempt to predict the future. The technical analyst focuses exclusively on market information and works on the assumption that all fundamental information is already reflected in the price. Unlike the fundamentalist, the technician attempts to predict future price directions by searching for established patterns of price behavior that have signaled major movements in the past.

Forex terminology

Check the most common forex terms used on currency trading portals, articles and press releases; This is a good resource to help you understand the field’s terminology and becoming an expert in composing your own reports, analysis and releases.