CURRENCY PAIR

CURRENCY PAIRS


Currency is always quoted and traded in pairs. That is, you are buying or selling one currency against another, and the money you earn/lose is based on the exchange rate between those two currencies. 

Some common currencies include USD/CHF (US Dollar/Swiss Franc), EUR/USD (Euro/US Dollar), or the GPB/USD (British Pound/USD). When buying or selling a currency pair it is important to understand the Bid/Ask prices and the Spread between them.

So What are the 7 Major Currency Pairs?

  • The Euro/Dollar Pair (EUR/USD) 
  • The Dollar/Japanese Yen (USD/JPY) 
  • The British Pound Sterling/US Dollar (GBP/USD) 
  • The US Dollar/Swiss Franc (USD/CHF) 
  • The Australian Dollar/US Dollar (AUD/USD) 
  • The US Dollar/Canadian Dollar (USD/CAD) 
  • The New Zealand Dollar/US Dollar (NZD/USD)

Comments

Post a Comment

Popular posts from this blog

UNDERSTANDING CANDLESTICK PATTERN

Image
WHAT IS A CANDLESTICK?   A candlestick depicts the battle between Bulls (buyers) and Bears (sellers) over a given period of time. Before we get down to the nitty-gritty, (spoiler alert: awesome candlestick formation images are coming your way) it’s important for you to understand what a candlestick actually is.  No, we’re not talking about the kind you pick up from that fancy candle store to set the mood on date night. We’re talking about Japanese Candlesticks — the market signal that shows the battle between the Bulls (buyers) and the Bears (sellers) over a certain amount of time.  Why do you need to know Candlesticks like the back of your hand? Because knowledge could give you the upper hand when the Bulls and the Bears are in the middle of a market smackdown. Candlestick formations allow you to find setups, determine market direction and identify optimal entry and exit points that could help you execute profitable returns consistently in your trades. U...
Read more

WHAT IS FOREX

Image
What is Forex? Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. All the world's combined stock markets don't even come close to this. But what does that mean to you? Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments. FOREX TRANSACTION: IT'S ALL IN THE EXCHANGE If you've ever traveled overseas, you've made a forex transaction. Take a trip to France and you convert your pounds into euros. When you do this, the forex exchange rate between the two currencies—based on supply and demand—determines how many euros you get for your pounds. And the exchange rate fluctuates continuously. At this point in time, Forex is one of the largest trading vehicles in the world. To clari...
Read more