Forex Currency Quotes Online
Bunhill/Getty Images A forex quote always consists of two currencies, a currency pair consisting of a base currency and a quote currency (sometimes called the 'counter currency.' The base currencies most often used are EUR (), GBP (British pounds) AUD (Australian Dollars) and USD (US Dollars) The quote currency may be any currency, including another of the common base currencies, as in this example: EUR/USD 1.3600 Here, EUR is the base currency and USD is the quote currency.
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The meaning of the quote is that one Euro is worth 1.36 US Dollars. No matter which currency is the base currency -- whether USD, EUR or any base currency -- the base currency always equals 1. The quoted amount, 1.3600 is the amount of the quote currency, USD, it takes to equal 1 unit of the base currency, EUR. The forex convention is that when these two currencies are compared, EUR is always the base.
If instead, USD were the base currency, the quote would look like this USD/EUR.7352 The meaning of this hypothetical quote is that 1 USD equals.7352 EUR. If you divide 1 by.7352 the result is 1.36 -- the two results look different, but the relationship between the two currencies remains the same.
Fx Currency Quotes Online
Forex club software. There are two parts to a, an ask and a bid. Here's another forex quote that helps make clear the meaning of these terms in the forex market: EUR/USD = 1.3600/05 Here the bid is 1.3600, and the ask is 1.3605.
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Our first grade in forex literacy is for understanding how to read the price quote. In forex, currencies are always quoted in pairs. In other words, it’s only possible to value a currency in terms of another one. Monitoring of forex rates (Exchange rates online) helps a trader to analyze the dynamics of exchange rates, stocks, indices and other trading assets both online and for a certain time period, for the last month, year and more. For a thorough analysis of the market situation, a trader needs data on movements of currency pairs. Free Forex live streaming rates from multipe sources including tick charts on dozens of pairs for usd, euro, canadian dollar, pound and many more. Just like other markets, forex quotes consist of two sides, the bid and the ask: The BID is the price at which you can SELL base currency. The ASK is the price at which you can BUY base currency.
Since the difference between a bid and an ask price in normal circumstances is a very small fraction -- less than 1/100th of the currency unit -- the convention is that only the last two digits (05) of the four trailing digits are shown. If you spelled this out, it would look like this: EUR/USD = 1.3600/1.3605 Here the bid price is 1.3600, and the ask is 1.3605. Contrary to what you may think when you begin exploring the forex market, a bid price is not the price you'll bid when you want to buy a currency pair. Instead, the two terms are used from the perspective of the. Best binary options trading platform 2013 hyundai.
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