Trading
Long Position
Buying an asset expecting the price to rise.
Full Definition
Going long means buying an asset with the expectation that its price will increase, allowing you to sell it later at a higher price for profit. In forex, going long EUR/USD means buying euros while selling dollars, profiting if the euro strengthens against the dollar.
Example
You go long EUR/USD at 1.1000 because you expect the euro to strengthen. If EUR/USD rises to 1.1100, you profit 100 pips. You're essentially betting the first currency (EUR) will rise against the second (USD).
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