Forex Currency Trading: How to Buy and Sell Currency Pairs
First of all, currency pairs are what traders refer to the two currencies being traded
against each other.
There are major currency pairs, which are the currencies often traded
in Forex and the...
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Forex Currency Trading: How to Buy and Sell Currency Pairs
First of all, currency pairs are what traders refer to the two currencies being traded
against each other.
There are major currency pairs, which are the currencies often traded
in Forex and the cross currency pairs, which basically is any kind of currency that do not
have the US dollar.
Major currency pairs are EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD,
AUD/USD, and NZD/USD.
These pairs are considered major currencies because they are
often the ones used by many traders all over the world in buying and selling currencies.
Of course, the rest fall under the cross currency pairs.
As a trader, your broker will show you the currency pair with the exchange rate.
The
currency pair is composed of the base currency and the counter or quote currency.
Take
for example, EUR/USD; EUR is the base currency where USD is the counter currency.
In
trading, you will be shown the exchange rate for (as an example) EUR/USD = 1.
5432,
this
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