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Basic Forex Terminology
What is Basic Forex Terminology? Basic Forex terminology is used by most individuals and companies that trade Forex. Forex stands for foreign exchange markets. Forex is the largest financial market in the world and trades global currencies in real time. In order to excel at Forex, you should be aware of basic Forex terminology. Here are some widely used terms.One of the most basic Forex terminologies is ask price. Ask price is the price a currency is offered for. When trading Forex, you will usually see both the ask price and sell price for each currency listed next to each other.
Base currency, stands for the currency that all your currencies are converted to once you close the trade. The base currency usually is the US Dollar for people doing business in America.
Going long and going short are also popular basic Forex terminologies. Going long means that you invest in a currency for the long term. Going short means that you sell a currency that is not yet owned by you- the seller. Going short can be a great way to profit in certain situations, but can involve high risk.
Pip is also a popular basic Forex term. Pip stands for the difference between the bid price and the asking price. The range is also an important term because it offers the seller information on the highest and lowest prices of currencies being offered.
So if you are interested in trading Forex, it is important that you read and understand the above basic Forex terminology.
Recent Forex News
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
AUDNZD Looks To Avoid A Swell In Risk Tides To Support Range
The markets are filling out after the year-end lull; and the impact on volatility and price action has been clear. However, as traders return so do the market's major trends. From a fundamental and technical perspective, AUDNZD has a natural hedge on both fronts. For long-term pressures, fundamental concerns will...
Daily Technical Analysis
The GBPUSD failed to maintain it's bearish scenario yesterday. The pair had a bullish momentum, topped at 1.4738 and closed at 1.4689. On hourly chart we can see that after had a bearish movement since 17/12/2008, the bearish momentum paused and the pair seem to move in rectangle area suggesting...
FX Technical Commentary
Euro 1.3615 Initial support at 1.3547 (Jan 5 low) followed by 1.3378 (61.8% retrace 1.2549 to 1.4719). Initial resistance is now located at 1.3963 (Jan 5 high) at followed by 1.4069 (Jan 1 high)
Chart Of The Day: EUR/USD
On the first day of the first full week of 2009, price action on the EUR/USD pair, a daily chart of which is shown, has made a bold statement regarding the remarkably rapid uptrend that was in place during the month of December. It is indicating that the uptrend could...
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Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Tuesday's Upcoming Economic Calendar
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Newsfeed display by CaRP
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
AUDNZD Looks To Avoid A Swell In Risk Tides To Support Range
The markets are filling out after the year-end lull; and the impact on volatility and price action has been clear. However, as traders return so do the market's major trends. From a fundamental and technical perspective, AUDNZD has a natural hedge on both fronts. For long-term pressures, fundamental concerns will...
Daily Technical Analysis
The GBPUSD failed to maintain it's bearish scenario yesterday. The pair had a bullish momentum, topped at 1.4738 and closed at 1.4689. On hourly chart we can see that after had a bearish movement since 17/12/2008, the bearish momentum paused and the pair seem to move in rectangle area suggesting...
FX Technical Commentary
Euro 1.3615 Initial support at 1.3547 (Jan 5 low) followed by 1.3378 (61.8% retrace 1.2549 to 1.4719). Initial resistance is now located at 1.3963 (Jan 5 high) at followed by 1.4069 (Jan 1 high)
Chart Of The Day: EUR/USD
On the first day of the first full week of 2009, price action on the EUR/USD pair, a daily chart of which is shown, has made a bold statement regarding the remarkably rapid uptrend that was in place during the month of December. It is indicating that the uptrend could...
Dollar Outlook (Short Term) Mixed to Begin 2009
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Newsfeed display by CaRP
Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Tuesday's Upcoming Economic Calendar
On the upcoming economic calendar for Tuesday, January 6th, there are six top tier releases scheduled. The first to be released will be the Nationwide house price index at 02:00 from Great Britain. This report gauges the costs of homes in the United Kingdom. The figure is based on surveyors'...
US Dollar Ends Day Mixed, Could See Directional Moves On Releases Of ISM Serv...
The US dollar ended the day mixed across the majors once again, as the currency gained against the euro, Swiss franc, and Japanese yen but fell versus the British pound and the commodity dollars as oil rose toward $50/bbl. There were no market-moving indicators that influenced price action for the...
Euro And Gold Loses Support
U.S. Dollar Trading (USD) found strength against the Euro and JPY but lost ground against most other currencies which rebounded with improving market sentiment and rebound in commodity demand. US Construction Spending dropped by less than expected at -0.6% in November. In U.S. share markets, the NASDAQ was down 5...
Market Highlights
The USD was given a boost last night by President Obama's announcement that tax cuts will comprise about 40% of the stimulus package, and a US construction spending figure for November which exceeded expectations. The DXY index rose around 1%, but so too did the commodity currencies, suggesting the USD...
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Newsfeed display by CaRP