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Forex is short for "foreign exchange". The Forex market is a non-stop cash market in the currencies of nations are bought and sold, usually through intermediaries. For example, buying Euros, paying with U.S. dollars or sell euro to Japanese yen.
The value of your Forex investment increases or decreases due to changes in currency exchange rate or currency rate. These changes often result from economic and political factors, as the price of oil or agitation policy. To better understand how the exchange rate may affect the value of your Forex investment, this article shows how to read a quote of the currency.
Currency Rates are always expressed in pairs. In the following example, the "pair" of currencies are the U.S. Dollar (USD) and Euro (EUR). The contribution of currency, USD / EUR = 265.50 means that one U.S. dollar is equal to 265.50 euros. The currency to the left of the / (USD in this case) refers to as base currency and its value is always 1. The currency to the right of the EUR / (in this case) is known as the currency. In this example, you can buy USD 265.50 euros as it is the stronger of the two currencies.
Because the U.S. dollar is regarded as the central currency exchange market is always treated as the base currency in any Forex quote where is one of the pairs. Indeed, the U.S. dollar is involved in almost 90% of all Forex transactions.
In this example, the "couple" currencies are the Japanese Yen (JPY) and Euro (EUR). The currency trading, EUR / JPY = 175.10, means that the Japanese yen is equal to 175.10 euros. The currency to the left of the JPY / (in this case) refers to as base currency and its value is 1. The currency to the right of the EUR / (in this case) is known as the currency. In this example, one can buy JPY 175.10 euros as it is the stronger of the two currencies.
The goal of any Forex trading system is to profit from foreign currency movements. This requires proper training on the basic principles of the currency, such as conducting a technical analysis, using Forex charts and Stop / tools loss, and keep abreast of economic and political developments. In a sense, Forex training never ends.
About the Author:
Gregory DeVictor is a consultant who has been developing and marketing web sites since 1999. Learn what you need to know to get started in Forex trading and how to develop a successful Forex trading system at:
http://www.forex-trading-system.name
Article Source: ArticlesBase.com - Forex Trading: Learn How To Read A Forex Quote
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