Basic Concepts in Forex Trading

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At the core of this market lies the concept of currency pairs, where the exchange rate between two currencies is the focal point. Take EUR/USD, for instance – it represents the Euro to US Dollar exchange rate. The rate, such as 1.1500, signifies that one euro can be exchanged for $1.15 dollars. These rates, influenced by supply, demand, and overall economic health, fluctuate incessantly.