Forex Trading Pairs
Which forex pairs to trade and trading style the less time a trade lasts, the more attention that strategy requires. a day trade that lasts 3 or 4 minutes requires steady focus. Forextrading is the simultaneous buying of one currency and selling another.. currencies are traded through a broker or dealer and are traded in pairs.. currencies are quoted in relation to another currency.. for example, the euro and the u. s. dollar (eur/usd) or the british pound and the japanese yen (gbp/jpy). For trading purposes, the first currency listed in the pair is always the directional currency on a forex price chart. if the price is moving up on eur/usd, it means the euro is moving higher relative to the u. s dollar. if the price on the chart is falling, then the euro is declining in value relative to the dollar. The pair usd-eur is not traded for historical reasons. some pairs have nicknames, which are useful to learn for understanding trading discussion. nicknames for forex pairs. the gbp/usd pai...