How To Write A Conclusion For The Fce

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The trade purpose in any market - to buy goods is cheaper, and to sell more expensively. Does not make exceptions and the international market of currencies - FOREX. Goods in this market are exchange rates of the different countries. As well as any other goods, currencies have the price.

Summarizing the aforesaid, for USDCHF and USDJPY OPENING of a position ON DECREASE (i.e. BUY) there is at BID price, and a CLOSING - at ASK price; respectively, OPENING of a position ON INCREASE (i.e. SELL) happens at ASK price, and CLOSING – on BID.

Quotations are, as a rule, expressed by five-digit number. For example, USDJPY = 1244 means that 1 US dollar estimate in 1244 Japanese yens (i.e. are ready to pay so many yens for 1 dollar upon purchase or sales. At the same time, GBPUSD = 6262 means that 1 British Pound estimate at 6262 US dollars. Generally, if the quotation of XXXYYY = Z, it means that for one unit of XXX give Z units of YYY.