Some facts about FOREX
Currency Exchange Rate
The technical analyst analyzes the “micro” movements, trying to match the actual occurrence with known patterns.
Current spreads for the most common currency pair, EUR/USD, is typically 3 pips (3/100th of a percent). An equivalent trade using a bank account would most likely be between 200 and 500 pips, while an equivalent trade using cash at an exchange institution would be around 750 – 2500 pips.
Transactions in foreign exchange increased rapidly from nearly $70 billion a day in the 1980s, to more than $2 trillion a day two decades later.