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Forex glossary - O

Offer - at this forex rate a dealer is willing to sell a currency.

One Cancels the Other Order (OCO) - A designation for two orders whereby one of two orders is executed the other is automatically cancelled.

OPEC - abbreviation for Organization of Petroleum Exporting Countries.

Open Market Operation - The buying and selling of government securities–Treasury bills, notes, and bonds - by the Federal Reserve.

Open Order - An order that will be done when a market moves to its designated price.

Open Position - A deal not yet reversed or settled with a physical payment.

Option - A contract that determines the right to buy or sell a particular item at a certain price for a limited time. Only the seller of the option is obligated to perform.

Overbought - at this event the market price has risen too steeply and too fast in relation to underlying fundamental factors. Opposite of Oversold.

Oversold - A situation in the market after significant downturn of the Forex rate.

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