Forex eBook

Forex Glossary E


Forex Word Meaning
Economic IndicatorEconomic 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.
EUROsince 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 and Portugal.
European Central Bank (ECB)Dealer jargon used in quoting when the forward premium/discount is near parity. For example, “two-two around” would translate into 2 points to either side of the present spot.
EA (Expert Advisor)An automated script which is used by the trading platform software to manage positions and orders automatically without (or with little) manual control.
ECN BrokerA type of Forex brokerage firm that provide its clients direct access to other Forex market participants. ECN brokers don't discourage scalping, don't trade against the client, don't charge spread (low spread is defined by current market prices) but charge commissions for every order.
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