Dear Traders
As we had discussed before the Forex and the pairs. Now, we have to understand the Currency Pairs and how to Buy & Sell the Currency Pairs.
As we know in Forex Trading, we can concurrently buy and sell at one time. We can’t open any trade into the direct market, we have to register with a broker so that they can allow us to trade on given particular pairs which are provided by them. While you trade on any pair you are opening buying & selling trades on that pair against each other.
For Ex: EURUSD
Every currency price depended on their country’s situation and price movements depend on every individual country.
So now we have three types of Currency pairs
1. Major
2. Minor
3. Exotics / Cross Pairs
Major pair – Which are quoted with USD
Minor pair – Which are not quoted with USD
Exotics Pairs = Exotic currency pairs include one major currency alongside a currency from a developing or emerging market. ( JPY/NOK ) ( USD/HKD )
2 Responses
Thank you for sharing such an informative blog. It is very helpful for investors. I am an Investor in commodity, forex, and crypto market with years of experience in the financial industry.
@Elaxi Flora
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