Silly question time

andrewh25

Junior member
21 0
Can someone please tell me if FX trades like EUR/USD have seperate values. I know one is needed for the other to be balanced against but I wondered if there was a general strength for say the EUR against the rest of the market. i.e how well the currency was doing in general throughout the trading session.

Thank you in advance.
Andrew.
 

Zenda

Well-known member
491 10
Don't really understand - ? All currencies traded are in Pairs - The most common against the US Dollar - however performances of one currency against another i.e. Euro/GBP are available on most trading packages. If you want to study them in isolation look at finance.yahoo.com - Hope that helps - Z ;)
 

darrenf

Well-known member
481 3
Don't think there is any general measure of the euro.

As Zenda says, all currencies are traded in pairs.

However, there is a USD index which measures USD against a basket of other currencies to give a general idea of the strength of the USD against the rest of the market. I beleive you can also trade the USD index although I have never done this personally.
 

mik1973

Well-known member
290 13
Not sure of the best place to post this but i'm sure to the more experienced of you this could also sound like a silly question. I've only recently started to take an interest in FX and the values which were displayed on Finspreads this evening started to puzzle me:EURO/Dollar daily cash wed. Sell 1.2531-Buy 1.2535 Daily Change 0.2533. From my understanding the furthest right hand figure represents one pip(point) or tick. If this is the case the daily change suggests that there has been a two thousand five hundred and thirty three point price movement! Could someone please explain to me the true interpretation of these figures and advise whether it would be feasible to swing trade FX based on EOD data. Thx in advance,
Mick
 

JonnyT

Senior member
2,560 22
It is very feasible to swing trade Forex.

ATR for the EUR/USD for example is over 100 pips.

Don't know where you got the 2533 pips from, that really would be a massive move in one day.

JonnyT
 

mik1973

Well-known member
290 13
Thx for your response Jonny- maybe the figure quoted on Finspreads could have been an error. Is my understanding correct that the furthest figure to the right hand side represents 1 pip- so in theory if the daily change was correct it would have been equivalent to 2533?
Thx
Mick
 

bonsai

Veteren member
4,106 10
if you were on d4f, you could see the daily range in action as they chart their own prices real time.

why haven't you just phoned Fins and asked them ?
 

bonsai

Veteren member
4,106 10
darren
how long is a day ?

it only covers the period during their trading hours, presumably.
 

darrenf

Well-known member
481 3
I just looked at the 24 hr period ending 10pm UK time on the spot market which is quoted 24hrs a day.

The futures will be slightly different I imagine.

However most of that range would have been available between 7am and 5pm uk time.
 

mik1973

Well-known member
290 13
Hi folks,
Thanks for your replies- i will phone finspreads and find out exactly where the 2533 figure came from. It is frustrating learning about a new topic only to find a fly in the ointment- no pain no gain i suppose. Does anyone have a stategy which they'd like to share about trading FX - EOD on a swing/longer term basis other than day trading?
Thanks
Mick
 
 
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