Forex Quotes Explained. In forex trading, currencies are always quoted in pairs – that's because you're trading one country's currency for another. Under normal market conditions, brokers typically use two prices to be quoted.
In the forex market, currencies are traded in pairs. The first currency listed is the base currency. So let's say return to the EUR/USD quote.
So let's say return to the EUR/USD quote.
A direct quote for traders in the US, looking to buy Euros, will read EUR/USD and will be relevant to US citizens as the quote is in USD.
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That is why to read them you always need to apply a currency pair, as to buy one currency you need to sell another one. It only shows you the current value of the euro, relative to the USD. If you want to learn more about Forex quotes, ch.