Podcast
Questions and Answers
Which two currencies are quoted in the forex market?
Which two currencies are quoted in the forex market?
- USD/EUR
- GBP/USD
- EURO/USD (correct)
- USD/JPY
What is the spread for the EURO/USD currency pair at 1.2050/1.2053?
What is the spread for the EURO/USD currency pair at 1.2050/1.2053?
- 2 pips
- 1 pip
- 3 pips (correct)
- 4 pips
What type of forex order allows you to buy or sell at the current price?
What type of forex order allows you to buy or sell at the current price?
- Stop-loss order
- Stop order
- Limit order
- Market order (correct)
Which characteristic of currency pairs refers to the gap between buying and selling prices?
Which characteristic of currency pairs refers to the gap between buying and selling prices?
What do economic indicators show in forex trading?
What do economic indicators show in forex trading?
Which type of forex order allows you to buy or sell at a set price or better?
Which type of forex order allows you to buy or sell at a set price or better?
What is the spread for the EURO/USD currency pair at 1.2050/1.2053?
What is the spread for the EURO/USD currency pair at 1.2050/1.2053?
Which characteristic of currency pairs refers to how much they move in value?
Which characteristic of currency pairs refers to how much they move in value?
Which two currencies are quoted in the forex market?
Which two currencies are quoted in the forex market?
What do economic indicators show in forex trading?
What do economic indicators show in forex trading?
Flashcards
Spread
Spread
The difference between the bid and ask prices of a currency pair.
Market order
Market order
An order that is executed immediately at the best available price.
Limit order
Limit order
An order to buy or sell a currency pair at a specific price or better.
Economic indicators
Economic indicators
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Volatility
Volatility
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Base currency
Base currency
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Quote currency
Quote currency
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Pip
Pip
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Forex trading
Forex trading
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Study Notes
Forex Market Quotations
- The forex market quotes currency pairs.
Spread in the Forex Market
- The spread for the EURO/USD currency pair at 1.2050/1.2053 is 3 pips (1.2053 - 1.2050).
Forex Order Types
- A market order allows you to buy or sell at the current price.
- A limit order allows you to buy or sell at a set price or better.
Currency Pair Characteristics
- The spread refers to the gap between the buying and selling prices of a currency pair.
- Volatility describes how much a currency pair moves in value.
Economic Indicators in Forex
- Economic indicators show the health of a country's economy, which can affect currency values.
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Description
Test your knowledge of forex trading with this quiz on understanding quotes and types of forex orders. Learn about currency pairs, bid and ask prices, spreads, and various types of forex orders. Challenge yourself and improve your trading skills!
