Banking service chronicle

Banking service chronicle

How Currencies are quoted and what moves individual currencies?

Banking service chronicle Monthly Magazine by bsc academy-subscribe Some of the most traded currency pairs are: EUR/USD Euro against US Dollar  USD/JPY US Dollar against Japanese Yen  GBP/USD British Pound against US Dollar  USD/CAD US Dollar against Canadian Dollar  AUD/USD Australian Dollar against US Dollar  USD/CHF US Dollar against Swiss Franc  EUR/JPY Euro against Japanese Yen  The currency left of the / is called the base currency.  The currency right of the / is called the counter currency. When you place an order to buy the EUR/USD for instance, you are actually buying the EUR and selling the USD.  If you were to sell the pair, you would be selling the EUR and buying the USD. So if you buy or sell a currency PAIR, you are buying/selling the base currency.  The best way to remember is, by just thinking of the entire currency pair as one item.  If you buy it...you buy the first currency and sell the second currency. If you sell it...you sell the first currency and buy the second currency.  That means you would to be able to short-sell with no restrictions so you could make money when the market drops as well as when it rises. The problem with traditional stock market or commodity trading is that the market has to go up for you to make money. With FOREX trading you can make money in all directions banking service chronicle monthly magazine.



Banking service chronicle

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