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How are Bid and Ask prices defined?

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jackcaleb | 08:50 Sat 23rd May 2009 | Business
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I am very new in the field of Forex trading. How are Bid and Ask prices defined?
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Avatar Image Williampops
Let me explain this simply by taking a currency pair as an example like the EURUSD that would be Euro v. US Dollar. This example shows that an order to Sell at the Bid price would sell the Euro and buy the US dollar whereas an order to Buy at the Ask price would buy the Euro and sell the US dollar. I recommend this very versatile company: http://www.ismarkets.com for all the information and help that you may need.
12:50 Sat 23rd May 2009
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