You are a FOREX dealing team working for a large Singapore bank or a large Singapore Corporation. The goal of the assignment is to paper trade foreign exchange over a period of five consecutive days in either week 8 or week 9. The task involves the completion of one FOREX dealing report per group and is due two weeks after we have covered all materials about the Foreign Exchange market (Topic 5). The expected submission time is 5pm local time on the Friday of Week 10.The report must be completed in accordance with the Universitys published Written Reports and Essays: Guidelines for Referencing and Presentation in RMIT Business, that is available on the Universitys web page and MyRMIT.Formatting is important. Reports are to be well written and students are expected to follow the guidelines set out in the document entitled Written Reports and Essays: Guidelines for Referencing and Presentation in RMIT Business. This can be found at the web site:There is considerable information in this document and it is well worth reading. There is also material on the web site:http://www.dlsweb.rmit.edu.au/bus/public/referencing/The report should not exceed in total. This excludes the table of reference and reference list. The document should be formatted following the guidelines below and the RMIT presentation guidelines:Penalty (%) 0 -30 -50 -70 -70The following structure and guidelines are provided to assist you in writing your reports.This assessment enables students to have a practical view about trading FOREX. Students will learn about both domestic and international markets, drivers of FOREX, use the appropriates terms/languages in the field, calculate the profit and loss from their transactions, develop trading strategies, work in a team environment, financial reporting and the financial regulations surrounding this instrument.