Understanding Quotes In Forex Trading
In forex trading, a quote includes two different currencies. The currencies of each quote are the base and the quote currency. The first currency is the quote currency. The quote for instance, EUR/USD means that the Euro is the quote currency and the US dollar is the base currency. There are also two parts included in all forex trading quotes. These include the asking price and the bidding price. The bidding price is the cost that you will pay on orders that go long on a specific currency pair. The asking price is the price if you go short or sell.
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