How Forex Pairs Work?? 👨‍🏫 if you have any specific questions, ask me at 👉 http://bit.ly/2IblW9d 👨‍🏫 Download FREE PDF for my Price Action Strategies 👉 http://bit.ly/mypriceaction Forex pairs are the starting point for forex trading. A ‘pair’ is the two currencies that are going to be traded. So a trader is going to buy one currency, using the other. So for example, with the GBP/USD pair. The trader will buy pounds, using the US dollar. When prices are quoted, they are always the second currency, buying the first. So with EUR/GBP for example, the price quoted is the cost in pounds, to buy 1 Euro. Note however, that the decimal will move, making the price look a little strange to anyone used to exchanging currency for their holiday. In the EUR/GBP example, the rate for trading is currently 8454.8. For holiday makers heading to Europe, that equates to 84.5 pence buying 1 Euro. The currency of the trading account does not matter, the broker will convert them as required in order to allow traders to buy or sell currencies. Retail forex trading is simply speculating on the movement of the exchange rates between forex pairs. Which are the major forex pairs? The major forex pairs all involve the US dollar; EUR/USD USD/JPY GBP/USD USD/CHF Established pairs, traded in high volume and based on the US dollar, are known as the ‘major’ pairs. In addition to these more traditional forex pairs, there is fast becoming a much broader range of currencies to trade. These are referred to as ‘minor’ or ‘exotic’ pairs. Binary options brokers are now offering options on between 40 and 50 different currency pairs from all over the globe. Emerging markets have added a whole new element to Forex trading. These markets include regions like South America and Asia. Currencies often represent the market confidence in the entire economy of the area concerned. Given the huge range of factors that contribute to such economies, it is easy to see why prices fluctuate constantly. #NMBO471

How Forex Pairs Work??

if you have any specific questions, ask me at
http://bit.ly/2IblW9d

Download FREE PDF for my Price Action Strategies
http://bit.ly/mypriceaction

Forex pairs are the starting point for forex trading. A ‘pair’ is the two currencies that are going to be traded. So a trader is going to buy one currency, using the other. So for example, with the GBP/USD pair. The trader will buy pounds, using the US dollar.

When prices are quoted, they are always the second currency, buying the first. So with EUR/GBP for example, the price quoted is the cost in pounds, to buy 1 Euro. Note however, that the decimal will move, making the price look a little strange to anyone used to exchanging currency for their holiday. In the EUR/GBP example, the rate for trading is currently 8454.8. For holiday makers heading to Europe, that equates to 84.5 pence buying 1 Euro.

The currency of the trading account does not matter, the broker will convert them as required in order to allow traders to buy or sell currencies. Retail forex trading is simply speculating on the movement of the exchange rates between forex pairs.

Which are the major forex pairs?

The major forex pairs all involve the US dollar;
EUR/USD
USD/JPY
GBP/USD
USD/CHF

Established pairs, traded in high volume and based on the US dollar, are known as the ‘major’ pairs. In addition to these more traditional forex pairs, there is fast becoming a much broader range of currencies to trade. These are referred to as ‘minor’ or ‘exotic’ pairs. Binary options brokers are now offering options on between 40 and 50 different currency pairs from all over the globe. Emerging markets have added a whole new element to Forex trading. These markets include regions like South America and Asia. Currencies often represent the market confidence in the entire economy of the area concerned. Given the huge range of factors that contribute to such economies, it is easy to see why prices fluctuate constantly.

#NMBO471

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