How To Articles

Support level is a term that defines the price level of the asset that the asset doesn’t fall lower than. When this level is reached by the asset traders need to BUY it.

USD is usually traded against a single currency. But in case you wish to trade it against several of the currencies you may as well say that you trade it against a ‘basket’ of currencies. For a greenback there are six major currencies Euro, Japanese yen, Pound sterling, Canadian dollar, Swedish krona, Swiss franc.

A deal blotter is trader’s record of all of the executed trades in any and on a given day. It usually includes basic and additional information on all of the trades. For forex traders a deal blotter has to contain opening and closing price initiated by a trader.

Quadrupule witching refers to fours certain dates in a year when stock index options, stock index futures, stock options and single stock futures expire. It happens at the same time for all four of the securities at the third Friday of March, June, September and December. Last hour of trading on these days see a horrific increase in the volume of trades.

Direct quote is an exchange rate for foreign currency that involves a quote in fixed unites against different amount of the domestic currency. For example, a direct quote of the $ against the Canadian dollar in the US is U.S. $0.79394 = C $1 for 2018.

Currency symbol is a graphical representation of the name of a specific currency that is used internationally and in the markets. The best representation of the currency symbols are $, €, £ and ¥.