Let's dive into Forex! In this article we will talk about how currency pairs work, how people trade them, and we even give out our own analysis on EUR/USD!
A currency pair consists of two currencies, where one currency is exchanged for another. Each currency pair has a "base currency" and a "quote currency."
Currency Pair Notation:
Bid and Ask Prices:
Minor Pairs (Cross Currency Pairs):
Currency pairs are the building blocks of the forex market, facilitating the exchange of one currency for another. Traders analyze various factors to make informed decisions about buying or selling currency pairs, aiming to profit from fluctuations in exchange rates. Whether you're a beginner or an experienced trader, a solid understanding of currency pairs is essential for success in the forex market.
"If at any point this year EUR/USD closes a weekly candle above 1.10505, that will be a super bullish signal to me personally. I'll be cycling out of USD altogether if that happens (and USDT) and back to Euro." -BTC_JAY
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