How to read a currency quote http://www.financial-spread-betting.com/forex/forex-trading.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Letβs look at some examples;
EUR/USD β 1.32 β the currency on the left hand side is called the base currency. When trading a currency you are always trading one currency against another i.e. you trade them in pairs in relation to each other. For one EUR how many US Dollars do I get β and the answer to that is 1.32
USD/JPY β 102.5 For 1 USD you get back 102.5 Japanese Yen.
GBP/USD β 1.58 For 1 Pound Sterling I get back 1.58 US $
EUR/USD β 1.32 β the currency on the left hand side is called the base currency. When trading a currency you are always trading one currency against another i.e. you trade them in pairs in relation to each other. For one EUR how many US Dollars do I get β and the answer to that is 1.32
USD/JPY β 102.5 For 1 USD you get back 102.5 Japanese Yen.
GBP/USD β 1.58 For 1 Pound Sterling I get back 1.58 US $
EUR/USD 1.32 β 1.33
USD/JPY β 102.5 β 102.6
GBP/USD β 1.58 β 1.59
Letβs say we go long GBP/USD β what we are doing is going long GBP, short USD i.e. buying Pound and selling Dollar. When we see a broker with a currency quote we will see two quotes say GBP/USD: 1.58 β 1.59. If we want to buy this we would need to buy at the ask of 1.59