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Trading-in-black-and-white-forex-trading-newsletter---3-30-06/24013">trading In Black And White Fore
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Direct/indirect Quotes And Base/counter Currency Forex Pairs
By a.anies
Every local can be quoted directly or indirectly against other currencies (most of the time the US Dollar):
Direct quotation: Amount of local that is needed to buy one unit of the foreign (most commonly the USD)
And,
Indirect Quotation: Amount of local that is to be received when one unit of the foreign is sold.
Ok, now imagine your local is the EUR, in this case the quotation scheme against the US Dollar would be:
Direct Quotation: USD/EUR – How many Euros to get one US Dollar
And,
Indirect Quotation: EUR/USD – How many US Dollars to get one Euro
For the sake of simplicity, sometimes the US Dollar is called the “Foreign Currency”, so for the majors we have the following:
Direct Currencies
- USD/JPY
- USD/CAD
- USD/CHF
Indirect Currencies
- EUR/USD
- GBP/USD
- AUD/USD
Counter and base (or quote) currency
The first of the pair is always called base currency. The second is called counter

Forget About Euro ETFs, British Pound ETFs Are The Real Danger
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://beforeitsnews.com/news/26161/Forget_About_Euro_ETFs,_British_Pound_ETFs_Are_The_Real_Danger.html" style="font-size:1.2em">Forget About Euro ETFs, British Pound ETFs Are The Real Danger</a> <br> <span style="color:#888888;">Before It's News</span> - <span style="white-space:nowrap">2 hours ago </span> <div style="width:80%;">In recent weeks, the future of the euro has been a hot topic among investors, as the current ?stress testing? of the common currency system has uncovered some worrisome flaws. The euro has slumped ...</div> </div>
British Pound Declines Further Against Majors
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.rttnews.com/Content/CurrencyMarket.aspx?Id=1246113&SM=1" style="font-size:1.2em">British Pound Declines Further Against Majors</a> <br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">4 hours ago </span> <div style="width:80%;">(RTTNews) - The British currency extended its previous session downtrend against major opponents during New York mid-day trading on Friday. The pound declined to new multi-day lows of 0.9014 ...</div> </div>
Gold and silver daily commentary (March 19, 2010)
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.stockmarketsreview.com/commodities/gold_and_silver_daily_commentary_20100319_3631/" style="font-size:1.2em">Gold and silver daily commentary (March 19, 2010)</a> <br> <span style="color:#888888;">Stock Markets Review</span> - <span style="white-space:nowrap">4 hours ago </span> <div style="width:80%;">By Nell Sloane The strength of the Dollar against European currencies, particularly the British Pound, has put precious metals prices under moderate pressure into the US Friday opening. Comments ...</div> </div>
British Pound Weighed by Risks for Double-Dip Recession, Euro Extends Decline
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2010-03-19-1141-British_Pound_Weighed_by_Risks.html" style="font-size:1.2em">British Pound Weighed by Risks for Double-Dip Recession, Euro Extends Decline</a> <br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">8 hours ago </span> <div style="width:80%;">The British Pound extended the previous day&#39;s decline and slipped to a low of 1.5129 during the European trade as the Bank of England continued to see a risk for a double-dip recession. The ...</div> </div>
Great British Pound (GBP) Technical Major Currencies (2010-03-19)
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.ibtimes.co.uk/articles/20100319/great-british-pound-gbp-technical-major-currencies-2010-03-19.htm" style="font-size:1.2em">Great British Pound (GBP) Technical Major Currencies (2010-03-19)</a> <br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">12 hours ago </span> <div style="width:80%;">The pair managed to achieve yesterday&#39;s suggested scenario after touching 1.5225, however, the achieved ascend did not surpass resistance for the ascending channel shown above between 1.5305 - 1 ...</div> </div>
British Pound Declines After BOE?s Sentence Sees Risk of ?Double Dip Recession?
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2010-03-19-0753-British_Pound_Declines_After_BOE_s.html" style="font-size:1.2em">British Pound Declines After BOE?s Sentence Sees Risk of ?Double Dip Recession?</a> <br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">12 hours ago </span> <div style="width:80%;">The British Pound slid 0.4 percent against the US Dollar late into overnight after the Bank of England&#39;s Andrew Sentence said he sees ?some risks of a double dip recession? and warned of ?shocks ...</div> </div>
British Pound Forecast Bearish versus Japanese Yen
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.dailyfx.com/forex/technical/ssi/gbp-jpy/2010-03-18-1553-British_Pound_Forecast_Bearish_versus.html" style="font-size:1.2em">British Pound Forecast Bearish versus Japanese Yen</a> <br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">GBPJPY ? The ratio of long to short positions in the GBPJPY stands at 1.23 as nearly 55% of traders are long. Yesterday, the ratio was at -1.01 as 50% of open positions were short. In detail, long ...</div> </div>
British Pound / US Dollar 03-19
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-19-1404-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-19</a> <br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">The GBPUSD reversed just shy of the 38.2% retracement of the decline from 16464; at 15425, which is reinforced by parallel channel resistance and former support (15346). The extend of the decline ...</div> </div>
Exchange rates update: Public data boosts Pound
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.economy-news.co.uk/pound-exchange-rates-latest-18201003.html" style="font-size:1.2em">Exchange rates update: Public data boosts Pound</a> <br> <span style="color:#888888;">Economy News</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">British Pound exchange rates soared this morning after Public Sector Finance Data came in much better than expected. The data will add to yesterday&#39;s better than expected data on unemployment to ...</div> </div>
Is gold price heading towards $1,200?
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.commodityonline.com/futures-trading/technical/Is-gold-price-heading-towards-$1200-15014.html" style="font-size:1.2em">Is gold price heading towards $1,200?</a> <br> <span style="color:#888888;">Commodity Online</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">By Dan Norcini The bulk of the weakness in the US Dollar today can be attributed to a short covering rally in the British Pound. That market is so heavily loaded with speculative short positions ...</div> <a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/CANADIAN_DOLLAR_MAKES_ANOTHER_NEW_CONTRACT_HIGH_NEW_BUY_SIGNAL_FOR_THE_POUND/192500">CANADIAN DOLLAR MAKES ANOTHER NEW CONTRACT HIGH. NEW BUY SIGNAL FOR THE POUND</a> - <span style="color:#888888">Forex Hound</span><br> <a href="http://www.economy-news.co.uk/exchange-rates-19201003.html">Exchange rates: Pound against the Euro and Dollar</a> - <span style="color:#888888">Economy News</span><br> </div>

(or quote currency). pair quotes are always expressed in units of the counter to get one unit of the base currency.
EUR/USD = Base Currency/Counter Currency
This is how many USD are required to get one EUR
If the EUR/USD quote is 1.2520, then it requires 1.2520 USD to get one EUR…and the same goes for other pairs:
If the USD/JPY quote is at 110.05, it requires 110.05 JPY to get one USD
TIP: The EUR is always the dominant base against all other currencies. All pairs against the EUR are identified as EUR/USD, EUR/JPY, EUR/CHF...The next in the hierarchy is the GBP, which is always the base currency, but against the EUR (EUR/GBP).

by a.anieswww.trade-4x.blogspot.com- www.trade-4x.blogspot.com/>

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And again, thank you to those contributing daily to our currency website.

A Tale Of Greece And Cheap Money
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=3962062" style="font-size:1.2em">A Tale Of Greece And Cheap Money</a> <br> <span style="color:#888888;">istockAnalyst.com</span> - <span style="white-space:nowrap">4 hours ago </span> <div style="width:80%;">The S&amp;P 500 closed a smidgen lower Thursday on speculation the Federal Reserve will increase its discount rate which tempered the potential for gains spurred by further evidence that the economy ...</div> </div>
Gold Nears New Euro Record as &quot;Gold-Backed&quot; Euro Monetary Fund Rejected
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://news.goldseek.com/BullionVault/1269006712.php" style="font-size:1.2em">Gold Nears New Euro Record as &quot;Gold-Backed&quot; Euro Monetary Fund Rejected</a> <br> <span style="color:#888888;">Gold Seek</span> - <span style="white-space:nowrap">6 hours ago </span> <div style="width:80%;">THE PRICE OF GOLD was little changed for US investors in London on Friday, heading for a 2% weekly gain as the Dollar rose against everything on the forex market but the commodity-currencies of ...</div> <a href="http://www.marketoracle.co.uk/Article18011.html">Gold Nears New Euro Record High</a> - <span style="color:#888888">The Market Oracle</span><br> </div>
SOUTH AFRICA Euro slumps against US dollar on Greece fears
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.busrep.co.za/index.php?fSectionId=629&fArticleId=5397507" style="font-size:1.2em"> SOUTH AFRICA Euro slumps against US dollar on Greece fears</a> <br> <span style="color:#888888;">Business Report</span> - <span style="white-space:nowrap">7 hours ago </span> <div style="width:80%;">The euro slumped against the dollar on Friday as investors sought the safe-haven US currency amid uncertainty about international assistance for debt-plagued Greece. In morning London trade, the ...</div> </div>
Ldn FX: Euro-Dlr Heavy In Europe; Cable Weighs
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://imarketnews.com/node/10542" style="font-size:1.2em">Ldn FX: Euro-Dlr Heavy In Europe; Cable Weighs</a> <br> <span style="color:#888888;">Market News International</span> - <span style="white-space:nowrap">8 hours ago </span> <div style="width:80%;">LONDON, Mar. 19 (MNI) - Euro-dollar was heavy in Europe Friday morning. After being supported for much of the Asian session by Asian Central Bank demand the euro triggered some stop loss sales on ...</div> </div>
Stocks Rise as Corporate Profit Outlook Improves; Euro Falls
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.businessweek.com/news/2010-03-19/asia-stocks-rise-on-improving-u-s-economic-outlook-yen-falls.html" style="font-size:1.2em">Stocks Rise as Corporate Profit Outlook Improves; Euro Falls</a> <br> <span style="color:#888888;">BusinessWeek</span> - <span style="white-space:nowrap">15 hours ago </span> <div style="width:80%;">By Justin Carrigan March 19 (Bloomberg) -- Stocks rose in Europe and Asia, led by banks, as an improving outlook for the global economy lifted expectations for corporate earnings. The euro headed ...</div> </div>
WORLD FOREX: Euro Up Vs Yen, Dollar On Hedge Buying; May Resume Fall
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.marketwatch.com/story/world-forex-euro-up-vs-yen-dollar-on-hedge-buying-may-resume-fall-2010-03-19" style="font-size:1.2em">WORLD FOREX: Euro Up Vs Yen, Dollar On Hedge Buying; May Resume Fall</a> <br> <span style="color:#888888;">MarketWatch</span> - <span style="white-space:nowrap">16 hours ago </span> <div style="width:80%;">By Andrew Monahan TOKYO (MarketWatch) -- The euro rose against the yen and dollar in Asia Friday as Japanese short-term investors who have recently bet heavily against the common currency bought ...</div> <a href="http://www.chinapost.com.tw/business/global-markets/2010/03/19/249019/Euro-sinks.htm">Euro sinks against dollar on lingering doubt over Greece</a> - <span style="color:#888888">China Post</span><br> <a href="http://www.stockmarketsreview.com/forex/the_demand_for_the_high_risk_currencies_increased_again_the_oil_rate_consolidated_above_the_82_usd_mark_per_barrel_20100319_3586/">The demand for the high-risk currencies increased again. The oil rate consolidated above the $82 mark per barrel</a> - <span style="color:#888888">Stock Markets Review</span><br> </div>
Currencies: Euro Weakens On Bearish Bailout Comments
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://trak.in/india/currencies-euro-weakens-on-bearish-bailout-comments/economy-78475/" style="font-size:1.2em">Currencies: Euro Weakens On Bearish Bailout Comments</a> <br> <span style="color:#888888;">India Business Blog</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">by EIN on 2010/03/18 March 18, 2010 (FinancialWire) (Investrend Information Syndicate) As of 11:37 AM EST today, the PowerShares DB US Dollar Index Bullish Fund (NYSE: UUP) is up 0.90% on volume ...</div> </div>
Fed officials warn against loss of bank oversight
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.portfolio.com/business-news/reuters/2010/03/18/fed-officials-warn-against-loss-of-bank-oversight" style="font-size:1.2em">Fed officials warn against loss of bank oversight</a> <br> <span style="color:#888888;">Portfolio.com</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">Trader Richard Smartt reacts in the Euro Dollar pit at the Chicago Mercantile Exchange, March 16, 2010. REUTERS/John Gress By Mark Felsenthal WASHINGTON (Reuters) - Four top Federal Reserve ...</div> </div>
Euro Plunges Against Major Rivals
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.rttnews.com/Content/CurrencyMarket.aspx?Node=b3&Id=1245062" style="font-size:1.2em">Euro Plunges Against Major Rivals</a> <br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">(RTTNews) - The European common currency traded lower against major rivals in New York mid-day trading on Thursday. The Eurozone trade balance swung to a deficit in January, as the export value ...</div> </div>
OCI announces FY 2009 Results
<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://dotnet.sys-con.com/node/1324452" style="font-size:1.2em">OCI announces FY 2009 Results</a> <br> <span style="color:#888888;">SYS-CON Media</span> - <span style="white-space:nowrap">Mar 18, 2010 </span> <div style="width:80%;">By Marketwire . Results as at 31 December 2009 Cairo, Egypt / March 18, 2010, 10:15 AM OCI announces FY 2009 Results Summary of Consolidated Results for Q4 2009: - Consolidated revenue increased 3 ...</div> </div>

is a highly dynamic market with lots of price oscillations in a single minute, this characteristic of the Forex market allows traders to enter the market many times a day and pull some profit from these number of trades. ...