Did you know the meaning of GBPUSD, EURUSD, and other forex currency?
In the forex trading platform we often see writing or symbols such as GBPUSD, EURUSD, USDJPY, EURCHF, EURJPY and so on. Do you know what that means? . If you are a beginner trader forex still in the introduction stage, this article will help you understand these symbols.
Some of the major countries such as the United States, Australia, Canada, Japan, England, and others. It is those countries with strong economies whose currencies are traded on the forex market.
Internationally for the mention of the name of the forex currency to be more efficient both in the mention, it is made standard in 3 letters.
In these three letters, it consists of the first two letters to indicate the name of the country originating, and one letter behind it is the name of the forex currency itself.
Examples such as these symbols
USD stands for United States Dollar, which is the forex currency of the United States.
GBP stands for Great Britain Pound, which is the forex currency of the United Kingdom.
AUD stands for Australian Dollar, which is the forex currency of Australia.
JPY stands for Japanese Yen, which is the forex currency of Japan.
EUR stands for Euro, which is the forex currency of a European country.
And there are many more that have not been mentioned above, but those that have not been mentioned are less popular currencies.
Other mentions that are unique include the Swiss and Gold currencies
Swiss currency = Convuederatio Helvetica Franc => CHF
So now it’s clear that writings such as EURUSD GBPUSD etc. on the metatrader symbolize a currency pair.
If you do Buy EurUd, that means buying EURO with USD. (The goal is to expect the EURO currency to strengthen)
If you make a EurUs Sell it means selling EURO to get USD (the goal is to hold USD because the value of the USD is expected to strengthen)