Newsflash

Because currencies are quoted in a different manner than equities, reading a
foreign exchange quote may seem a bit confusing at first. However, it’s real-
ly quite simple if you remember two things: 1) The first currency listed first
is the base currency and 2) the value of the base currency is always 1.
For example, if you see a quote of USD/CAD 1.54825, that means that one U.S.
dollar is equal to 1.54825 Canadian dollars. Likewise, USD/JPY 122.01 shows that one
U.S. dollar is equal to 122.01 Japanese yen.
In every trade involving the U.S. dollar, the dollar will be the base currency, with
three exceptions — the British pound (GBP), the Australian dollar (AUS) and the
European currency unit, or Euro (EUR). In these cases, you might see a quote such
as GBP/USD 1.4366, meaning that one British pound equals 1.4366 U.S. dollars.
Whenever the U.S. dollar is the base unit and a currency quote goes up, it means
the dollar has appreciated in value and the other currency has weakened. If the
USD/JPY quote we previously mentioned increases to 123.01, the dollar is stronger
because it will now buy more yen than before.
However, in the three instances where the U.S. dollar is not the base rate, a rising quote means a weakening dollar, as
it now takes more U.S. dollars to equal one pound, Euro or Australian dollar .
In other words, if a currency quote goes higher, that increases the value of the base currency. A lower quote means the
base currency is weakening.
Trades that do not involve the U.S. dollar are called cross rates, but the premise is the same. A quote of GBP/CHF 2.4577
signifies that one British pound is equal to 2.4577 Swiss francs.

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Welcome to Free Forex Signal 100% Free

Free Forex Signal 100% Free on short term

Free Forex Signal 100% Free for Cashing in

2009-05-13 | 16:20

EUR/USD : UP | TP - 50 Pips | SL - 80

GBP/USD : UP | TP - 50 Pips | SL - 80

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BunnyGirl Bunny Cross (BGX)

BunnyGirl is a Forex day trader who frequents the MoneyTec.com and StrategyBuilderFX.com trading forums. She was active from about November 2003 to April 2005 , though she recently added a new post as this document was being written. Her most remarkable accomplishment was starting the "wma cross" thread in April 2004. As of September 16, 2005, the thread has nearly 1000 replies, 125 pages, and 310,308 views, three times the views of the next most popular strategy thread.