Euro Conversion to US Dollars Chart
The Basics of Buying and Selling Currency in the Forex Market
Forex is the foreign exchange market and the exchange of one currency into another currency. Forex is to buy a currency hoping that their value increase compared to the value of what you sell. Most of you buy one currency and selling another currency at a time.
Exchange rates are always shifting, and we hope that the worth of money increases. There are a lot of factors that come in action when we talk about the calculation of value of money and these factors are highly dependent on the fundamental or the technical analysis of the market's current financial condition. Anyway, this is not the subject of this article; they have an example of a commercial sale.
We take the pair (EUR / USD), and exchange rate (1.50). Now we want to sell Euros to buy later when its cheaper. Here, we expect, or know the value of the euro to depreciate in the near future or in the same day. Sell our euro for $ 1.50. The exchange rate was then reduced to 1.25. This means that now only need to buy 1.25 euro sold our back. We exchanged dollars against the euro and vice versa, then gain.
When you buy or sell currencies in the trade, always buy or sell the base currency on it's own. The base currency is the first of our partner. In this pair, like EUR / USD, the base currency is the euro and the USD dollar is the currency quote. When you decide to buy foreign currency to buy Euros and sell US dollars. When you decide to sell, you sell Euros and buy US dollars for it.
If you want to make a profit from something then you need to make sure that you buy it low and sell it later on at a higher price. So if you sell something, you must buy new, I prefer to sell at a lower price.
Justin has been writing articles for almost two years now. In his spare time he creates websites, you can view his latest two websites at Business Process Management Tools [http://www.businessprocessmanagementtools.net] and Saeco Coffee Machines [http://www.saecocoffeemachines.org].
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