How To Study Currency Pairs

 

The first thing any forex investor should do is choose a currency pair in which to invest and it is clear that the euro-dollar is not the same as the euro dollar. To get started, we need to be clear about what a currency pair is and how it is formed, as simple as buying one currency and selling another completely at the same time. Knowing this, the next step is to understand that pairs are presented in a clear way. For example, EUR / USD, USD / GBP, JPY / EUR, etc.

If we see a pair, such as USD/EUR 0.800, the indication that this unit of the original currency from the left, in the example of the US dollar, is equal to the amount we get in the currency on the right, that is, the US dollar buys 0.800 units per euro. Translated into simple language, that for one dollar we can buy 0.8 euros. This applies to any pair we come across. It is easy to understand and use.

In contrast, in EUR / USD, the opposite pair, it is estimated how many dollars can be bought for one euro.

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