How to Read a Forex Quote
Currencies are always In quoted pairs,For exp. EUR/USD or . The first currency are called based currency and the second currency called quoted currency.See the picture below...
The first listed currency to the left of the slash (“/”) is known as the base currency (in this example, the EURO), while the second one on the right is called the counter or quote currency (in this example, the U.S. dollar).
When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy one unit of the base currency. In the example above, you have to pay 1.51258 U.S. dollars to buy 1 EURO.
When selling, the exchange rate tells you how many units of the quote currency you get for selling one unit of the base currency. In the example above, you will receive 1.51258 U.S. dollars when you sell 1 EURO.
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