Foreign Exchange, often called Forex, is the global marketplace where currencies are traded. It allows people, businesses, and governments to exchange one currency for another, facilitating international trade and investment. For example, if a traveler from the United States wants to visit Europe, they need to convert their US dollars into euros to make purchases. The Forex market operates 24 hours a day, five days a week, making it one of the largest and most liquid financial markets in the world. Traders use various strategies to profit from currency fluctuations, influenced by factors like economic data, political events, and market sentiment.