FXBoomerang

What are currency pairs?

Forex Trading is about speculating on the fluctuating currencies between two countries. These two currencies are referred to as “Currency Pairs‘ and they are made up of the “Base Currency” and the “Quote Currency“.
currency-pairs
What Is a Currency Pair?

Forex Trading is about speculating on the fluctuating currencies between two countries. These two currencies are referred to as “Currency Pairs‘ and they are made up of the “Base Currency” and the “Quote Currency“. A famous example of a currency pair is the Euro against the US Dollar, which is presented as EUR/USD. In the Forex market, currency unit prices are quoted as currency pairs.
In other words, a currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. The first currency of a currency pair is called the “Base Currency“, and the second currency is called the “Quote Currency“.

What Is a Base Currency?

The Base Currency also known as the Transaction Currency is the first currency set that appears in a forex Currency Pair. It’s the one that’s bought or sold for the Quote Currency. In the EUR/USD, the EUR is the base currency.

What is Quote Currency or Counter Currency?

The Quote Currency, also called “Counter Currency,” is the second currency in currency pair and is used to determine the value of the base currency. Quote currency is also known as the “secondary currency.” In the EUR/USD, the USD is the quote currency or counter currency.

More
articles

Technical Analysis

Forex Market Daily Technical Analysis of USD/CAD

Daily Pivot Point of USD/CAD Chart in 30M Time Frame is: 1.3595 and Preferred situation is Bearish. Our Preferred Senario is Short Positions (Sell) under 1.3595 with first target at 1.3555 and second target at 1.3535 in extension as take profits.

Technical Analysis

Forex Market Daily Technical Analysis of USD/CHF

Daily Pivot Point of USD/CHF Chart in 30M Time Frame is: 0.9045 and Preferred situation is Bearish. Our Preferred Senario is Short Positions (Sell) under 0.9045 with first target at 0.9020 and second target at 0.9005 in extension as take profits.

Technical Analysis

Forex Market Daily Technical Analysis of CRUDE OIL (WTI)

Daily Pivot Point of CRUDE OIL (WTI) Chart in 30M Time Frame is: 86.00 and Preferred situation is Bullish. Our Preferred Senario is Long Positions (Buy) above 86.00 with first target at 87.10 and second target at 87.60 in extension as take profits.

Technical Analysis

Forex Market Daily Technical Analysis of GOLD (XAU)

Daily Pivot Point of GOLD (XAU) Chart in 30M Time Frame is: 2335.00 and Preferred situation is Bullish. Our Preferred Senario is Long Positions (Buy) above 2335.00 with first target at 2365.00 and second target at 2375.00 in extension as take profits.

Technical Analysis

Forex Market Daily Technical Analysis of AUD/USD

Daily Pivot Point of AUD/USD Chart in 30M Time Frame is: 0.6590 and Preferred situation is Bullish. Our Preferred Senario is Long Positions (Buy) above 0.6590 with first target at 0.6630 and second target at 0.6645 in extension as take profits.

Technical Analysis

Forex Market Daily Technical Analysis of USD/JPY

Daily Pivot Point of USD/JPY Chart in 30M Time Frame is: 151.70 and Preferred situation is Bullish. Our Preferred Senario is Long Positions (Buy) above 151.70 with first target at 151.95 and second target at 152.10 in extension as take profits.

looking for Something?

search Here

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

This website uses cookies for analytics, Ads and to ensure you get the best experience on our website.

All Contents Provided for Learning and Analysis. Make Sure You Have Fully Read and Understand our Privacy Policy and Statements