What does the chart representation represent? I assume that the representation is of the the last three letters of a six letter pair, ie; in the case of EURUSD, the chart represents the USD (US dollar). Am I correct in my assumption?
Bill
For example, let’s take the EURUSD.
This means that the base pair is the EURO.
The margin pair is USD.
If you are LONG, then you are buying EURO.
If you are SHORT, then you are buying USD.
And this gets into complicated stuff like carry trades… This is another subject of its own though…
go through baby pips school and you will learn these basics.
In the EURUSD, USD is the quote pair which means the price is quoted in dollars.