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All currencies are assigned an International Standards Organization ISO code abbreviation which is often used to convey the particular currencies that make up a currency pair. For example, USD/JPY indicates two currencies: the U. S. Dollar and the Japanese Yen. The first currency in a currency pair is referred to as the “base currency”, and the second as the “counter currency” or “quote currency”. The value of the base currency is always 1. It is probably easiest to remember this by looking at a currency pair and saying “1 unit of the base currency buys how many units of the counter currency?”. Many currency pairs are expressed in terms of dollars, with $1 USD acting as the base currency “how much of a currency does $US 1 buy?”. For example, a quote of USD/JPY 109. 48 means that one U. S.
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Do you want to earn money?What are most people actually looking for in a forex trading guide, so that it can help them achieve their dreams of making millions from forex trading?I would say that a good forex trading guide would have consist of forex trading basics, forex technical analysis, fundamental analysis, trading psychology, forex trading systems, money management rules, forex glossary, how to choose forex broker etc.
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On the other extreme of the time horizon, most commodities have natural limitations on their contracts that limit how far predictions can be made.
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