The following are the most commonly used terms in foreign exchange:

1. appreciation – increase in currency value
2. ask – price requested by trader
3. base currency – what trader has to buy and sell
4. bear – someone who believes prices are going down bid – price offered for currency
5. did/ask – bid rate is the rate in which you can sell/ask rate is the rate at which you can buy
6. bull – someone who is enthusiastic about the market
7. cross – i.e. EURUSD
8. cross rate – rate that is determined from two other exchange rates

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