Introduction to Forex

Start by exploring the basics of trading and how it has become accessible to almost anyone with internet access. Learn about trade execution, calculating profit and loss, managing spread and leverage, and how currency pairs are represented.

Fundamental Analysis

Discover how economic news and fundamental factors impact the value of an asset, giving you a deeper understanding of market dynamics. Learn how the supply and demand of an asset relate to the corresponding market positions one should take in anticipation of these events.

Technical Analysis

Technical analysis involves observing the historical price patterns of an asset and using this data to predict where the next movement will occur. Gain the skills required to identify price patterns – notably through Charting analysis using graphical tools and Mechanical Analysis using technical indicators.

Trading Strategies

Employing fundamental and technical analysis is only one part of a longer-term strategy. Widen your expertise as you learn to optimise your risk and money management requirements.

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The Most Popular Currencies – Lesson 4

The Most Popular Currencies

With hundreds of currencies worldwide, it’s impossible to monitor each one closely. The key
currencies include the US Dollar, the Euro, the Pound, and the Yen.

Traders should familiarise themselves with the standard abbreviations for these currencies as
determined by the International Organisation for Standardisation. These abbreviations are widely
used in the market. The main ones include the USD for the US dollar, EUR for the Euro, GBP for the UK
pound, AUD for the Australian Dollar, CAD for the Canadian dollar and CHF for the Swiss Franc.

Every available currency has an abbreviation.

So, how exactly are currencies traded?

Trading currencies in the forex market is similar to buying and selling stocks. If you think the company
is performing well, you buy shares in the company with the expectation that the share price will
increase in value. In forex, instead of buying shares of companies, you buy currencies by exchanging
one currency for another. For example, if you believe that the economy of a specific country is thriving, you expect its currency to appreciate so you would buy the currency.

Have any questions?

Trade with Xlence, Excel in Trading

Xlence, with registered address F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, is a trade name of Tradeco Limited. Tradeco Limited is authorised and regulated by the Seychelles Financial Services Authority with licence number SD029.

The Group includes Damadah Holding Limited with registered address at 365, Agiou Andreou, Efstathiou Court, 2nd Floor, Flat 201, 3035 Limassol, Cyprus.

Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone, you should ensure that you understand the risks involved.

Xlence does not offer its services to residents of certain jurisdictions such as USA, Iran, Cuba, Sudan, Syria and North Korea.

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