FOREX BASIC TERMINOLOGY

In order to become a successful trader, it is vital to understand the basic Forex terminology, which at times may be misleading.
Economic Indicator
Economic indicators such as GDP, foreign investment, and the trade balance reflect the general health of an economy, and are therefore responsible for the underlying shifts in supply and demand for that currency.
End Of Day Order (EOD)
An order to buy or sell at a specified price. This order remains open until the end of the trading day which is typically 5PM ET.
EURO
Since 2002 the Euro has been the currency of the European Monetary Union (EMU). A replacement for the European Currency Unit (ECU). Members of the EMU are Germany, France, Belgium, Luxembourg, Austria, Finland, Ireland, the Netherlands, Italy, Spain,Portugal, Greece, Estonia, Cyprus, Slovakia, Malta, Lithuania, Latvia, Slovenia, Andorra, Monaco, San Marino and more.
European Central Bank (ECB)
The Central Bank for the new European Monetary Union.

PACKED WITH THE KNOWLEDGE OF THE BASIC TERMS, YOU ARE ONE STEP AHEAD IN MAKING YOUR TRADING JOURNEY A PROSPEROUS ONE.