In the Forex market major currencies are USD,EURO,GBP,CHF,AUD,JPY,NZD,CAD and they have high liquidity so they are major and rest of currencies are minor currency.
You know about base & quote currency and also know they traded as pair. Suppose you traded Euro / Usd and Aud/Usd most but if you want to trade Euro/Aud? Is this possible.. Yes this is called cross currency trading but beware if you want to trade cross currency this have highly transaction cost mean highly spread your broker demand to you.
You know about base & quote currency and also know they traded as pair. Suppose you traded Euro / Usd and Aud/Usd most but if you want to trade Euro/Aud? Is this possible.. Yes this is called cross currency trading but beware if you want to trade cross currency this have highly transaction cost mean highly spread your broker demand to you.
Some nick name of currency:
USD = Buck
EURO = Fiber
GBP = Great Britain Pound = Cable
EURO = Fiber
GBP = Great Britain Pound = Cable
CHF = Swiss Frank = Swissy
AUD = Australian Dollar = Aussie
NAZ = Newzeland Dollar = kiwi
CAD = Canadian Dollar = Loonie
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