Concept of Fx Market

•Different Countries have differernt currrencies.What is a legal tender in one country may not be the same in same in another.There is need for exchange.Currencies are traded in pairs.Stronger currencies are paired with weaker currrencies.eg Eur/usd Eur=europian currency,Usd=US currency.The pair is called Fx instrument.You can buy or sell the Pair .currency at the left hand side of the pair is stronger, it is called the base currency.The currency at the right hand of the Quote is weaker,it is the Counterquote currency.If the base currency is strong, you buy the pair.conversely,if the  the counter quote is stronger,you sell the pair.The strength and weaknes of a pair depend on several economic indices