Decoding the most common terms used in forex will speed up your understanding of the world of currencies
Currency nicknames
Single Currency - EUR (Euro)
Loonie - CAD (Canadian dollar)
Swissie - CHF (Swiss franc)
Aussie - AUD (Australian dollar)
Kiwi - NZD (New Zealand dollar)
✔Greenback, Buck - USD (U.S. dollar)
Sterling, Pound sterling - GBP (British pound)
Currency
pairs
Cable - GBP/USD (British pound / U.S.
dollar)
Ninja - USD/JPY (U.S. dollar / Japanese yen)
Fiber - EUR/USD (Euro / U.S. dollar)
Chunnel - EUR/GBP (Euro / British pound)
Yuppy - EUR/JPY (Euro / Japanese
Popular phrases
Going Long - Opening a Bullish (buying) trade
Going Short - Opening a Bearish (sell-ing) trade
Cutting Short - To close a losing posi-tion early
Plunging - A price that's sinking or fall-ing from it's previous value
Currency rallying - A price that recov-ers✔ after a period of its decline
Position Trading - Trading with huge stop-losses for several months to years, without being too concerned with short term movements in asset prices
Bloomberg News examples
USD/CAD - Dovish BOC hurts the loo-nie - Bank of Canada reports an interest rate cut, therefore Canadian dollar depreci-✔ates against U.S. dollar
AUD/USD - Job report ruined the rally - Bad Australian employment report ✔stopped recent AUD/USD uptrend
NZD/USD - Signs of recovery for the rollercoaster kiwi - New Zealand dollar recovers against U.S. dollar after an ex-tended exchange rate fall.