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Forex Glossary

Forex Definitions: The Industry’s Most Important Terms Explained

The forex industry is made up of so many definitions that it's easy to forget a few along the way. Do you know your Loonie from your Loti? Can you tell your Shooting Star from your Evening Star? Take the time to get to grips with forex jargon because understanding forex vocabulary is an important step in a trader’s journey.

Since no forex education can be complete without a glossary of basic forex terms, we've compiled one which explains key words and phrases in the simplest way possible. This way, you'll never be lost or confused with forex terminology!

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See Kondratieff-Cycle.

A price charting technique independent of time.  It is plotted as a series of connected vertical lines.  The thickness and direction of the lines, reflect the price action:

  • An uptrend is displayed as series of thick vertical lines
  • A downtrend is displayed as series of thin vertical lines

A buy signal is generated when price moves above the most recent high whereas a sell signal is in place when it moves below the last low.

A technical analysis indicator developed by Chester Keltner.  The upper band is drawn twice the value of the average true range (ATR) calculated over 10 periods above a 20-period exponential moving average of typical prices. The lower band is drawn the same distance below the exponential moving average. A positive signal is generated when price closes above the upper band.  Similarly, a close below the lower band indicates a negative signal.
Kenyan Shilling.  The currency of Kenya.  It is subdivided into 100 cents.
Som.  The currency of Kyrgyzstan.  It is subdivided into 100 tyiyn.

Riel.  The currency of Cambodia.  It is subdivided into 10 kak or 100 sen.

A Japanese candlestick pattern signaling a bearish reversal. During the course of an uptrend, a long black candle gaps below the previous white Marubozu and then declines lower closing at the low of the session, demonstrating strong bearish power.

A Japanese candlestick pattern signaling a bullish reversal. In the course of a decline, a long white candle gaps above the previous black Marubozu and rallies higher, closing at the high of the session, demonstrating strong bullish power.

See PGK.

See LAK.

One of the popular cycles in Time Cycle Analysis.  Discovered by Joseph Kitchin.  He supported that a 40-month cycle was present in the stock markets.
It is the nickname of the New Zealand Dollar (NZD).  Flightless bird and national symbol of New Zealand.
Comoro Franc.  The currency of the Comoros.  It is subdivided into 100 centimes.
One of the longer cycles in Time Cycle Analysis.  Discovered by the Russian Economist Nikolai D. Kondratieff.  He supported that a cycle of approximately 54 years is present in prices and many areas of economic activities. Also, known as K Wave.
North Korean Won. The currency of the Democratic People’s Republic of Korea. It is subdivided into 100 chon.
Won.  The currency of the Republic of Korea.

See HRK.

See AOA.

Kuwaiti Dinar.  The currency of Kuwait.  It is subdivided into 1000 fils.

See MMK.

Cayman Islands Dollar.  The currency of the Cayman Islands.  It is subdivided into 100 cents.
Tenge.  The currency of Kazakhstan.  It is subdivided into 100 tiin
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