How to Read Currency Pairs: Forex Quotes Explained

ELI5: Direct and Indirect Quotes

I'm getting so confused trying to figure this out.
I read one definition of a direct quote, and understand that it will tell me how much of my domestic currency I need to purchase one unit of a foreign currency.
A direct quote is the number of units of a domestic currency needed to buy one unit of a foreign currency.
Then I read another page, and it says the exact opposite.
Let's look at this with an example. Assuming your are from the United States, your domestic currency is the US dollar. In this case, a USD/GBP quote of 0.66 will be a direct quote for you and it will mean that one US dollar can buy 0.66 GB pounds.
Am I going crazy or do these two explanations argue against each other?
If I am living in the United States, is a direct quote USD/CAD or CAD/USD?
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The Exchange Rate - Direct and Indirect Quote. Currency Exchange Basics. Direct vs. Indirect - YouTube What is a direct quote? Forex Tutorial: How to Read a Currency Quote 🙌 - YouTube Direct vs Indirect Quotes - YouTube Exchange Rates (Forex - Direct & Indirect Quotes)  CA ... Foreign Exchange - Direct and Indirect Quote Understanding Forex Quotes Investopedia Videos

Direct vs indirect quotes - Key takeaways. There are three major takeaways that you can use from this guide. Although it may seem a bit overwhelming, note that it’s very easy to remember these names once you actually start trading. The first lesson is that Forex quotes are already a part of your trading life, they’re the main things from which a currency pair consists. The base currency ... By now you will know that Forex trading (or foreign exchange trading) is performed by trading currency pairs.The prices of these pairs are known as quotes or quotations.However, there are also direct and indirect Forex quotes. Being able to understand quotes is useful for all traders, as it enables them to increase their knowledge of the Forex market, and possibly establish a career in foreign ... Direct vs indirect quotes; Top tips to understand and interpret a forex quote ; Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is ... Forex quotes. Knowing all about Direct and Indirect Forex Quotes can be handy. One of the basic concepts that all top forex brokers need to understand is how to read Forex quotes. You know that currencies are traded in pairs, with the currency on the right of the slash being the base and the one on the left being the counter or quote. Let us learn in more detail about Exchange rate, Direct, and Indirect quotations. Suggested Videos. Introduction to Economics. Nature of Economics . Utility of Economics to Society. Direct and Indirect Quote. Let’s now look at it in detail. In financial terms, the exchange rate is the price at which one currency will be exchanged against another currency. The exchange rate can be quoted ... Basic Forex Course; Currency Trading Basic Concepts; Direct/Indirect Quotes & Base/Counter Currency Pairs ; Direct/Indirect Quotes & Base/Counter Currency Pairs Direct and Indirect Quotes. Every local currency can be quoted directly or indirectly against other currencies (most of the time the US Dollar): Direct quotation: Amount of local currency that is needed to buy one unit of the foreign ... Direct quote vs. Indirect quote. There are two types of forex trading quotes. Direct quotes will mostly appear in terms of home currency. What this means is that for a person in the US for example; you will find EUR/USD to be in direct since the quote is showing you how much of USD dollars you need to buy a EURO. In such a case, you have a direct quote. However, there are other cases where you ... The spread is one of two ways a Forex broker makes money – the other is by charging commission on your trades. Direct Quote vs Indirect Quote. There are two types of quotes: a direct quote and an indirect quote. If the second currency or the quoted currency of a currency pair is the domestic currency, then we’re dealing with a direct ... One such thing is the Forex direct quote vs indirect quote concepts, which a lot of people get easily confused about. The difference between indirect and direct exchange rates quotes is the notation they are given in. They convey the same meaning but in different forms. It is like two words that are synonyms. You can use them interchangeably, but each one has its own, a more specific context ... Direct Currency Quote vs. Indirect Currency Quote You can quote a currency pair in two ways, either directly or indirectly. A direct currency quote is simply a foreign exchange quote where the foreign currency is the base currency; an indirect quote is a currency pair in which the domestic currency is the base currency. For example, if you’re in Canada and the Canadian dollar is the domestic ...

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The Exchange Rate - Direct and Indirect Quote.

When to use direct and indirect quotes, how are they different, and what punctuation to use. We simplify your financial learnings. Subscribe here to learn more of Strategic Financial Management: CA Final SFM Fast Track Course:... Covers the direct quotations of currencies where the USD is the base currenfcy and the other currency is the variable. For more trading tips, please visit http://www.nigeriaonlinetrader.blogsp ... This feature is not available right now. Please try again later. Brief video to explain the basics of currency exchange. This video explains the difference between direct exchange rates and indirect exchange rates. How to read a currency quote PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Let's look ... Exchange Rates (Forex - Direct & Indirect Quotes) CA Final SFM (New Syllabus) Classes & Videos - Duration: 11:08. CA Nikhil Jobanputra 10,349 views How To Pay Off Your Mortgage Fast Using Velocity Banking How To Pay Off Your Mortgage In 5-7 Years - Duration: 41:34. Think Wealthy with Mike Adams 726,734 views