What are the two types of quotations used in the Forex market? Bid and ask Bid and sellAsk and lowOpen and Bid

In the Forex market, the two types of quotations commonly used are Bid and Ask.

1. Bid Price: This is the price that a trader is willing to pay for a currency pair. It represents the maximum amount the buyer will pay.

2. Ask Price: Conversely, the ask price is the price at which a trader can sell a currency pair. It represents the minimum amount the seller will accept.

These two prices are crucial for trading as they define the spread, which is the difference between the bid and ask prices. The spread affects the trading cost and is an essential factor for traders when making buying and selling decisions.

So, from the given options, "Bid and Ask" is the correct answer.