Let $P$ be a predicate. The expression $\forall x:P(x)$ seems to have two different meanings, depending on the context:
- If the domain of discourse $D$ is clear from context, then the statement "$\forall x:P(x)$" should actually be read as an abbreviation of "$\forall x\in D:P(x)$". For instance, in real analysis the statement $\forall x:x^2\ge0$ would be understood as an abbreviation of $\forall x\in\mathbb R:x^2\ge0$.
- In set theory, it seems that $\forall x:P(x)$ means "for any set $x$, $P(x)$ is true". For instance, the axiom of extensionality is written as $\forall x:\forall y:\forall z:(z\in x\iff z\in y)\implies x=y$.
I don't fully understand the meaning of $\forall x:P(x)$ in the context of set theory. Naïvely, the statement $\forall x:P(x)$ seems to be an abbreviation of $\forall x\in \mathbf{U}:P(x)$, where $\mathbf{U}$ is the universal set. However, the "universal set" is not actually a meaningful concept in standard formulations of set theory, and so this interpretation is clearly wrong. So how should the statement $\forall x:P(x)$ actually be interpreted?
The question in the title is. . .
And the answer is that you don't understand them unless they're specified. It's possible the domain of discourse is clear from context, but that has much more to do human communication than with the mathematical content.
In the context of set theory, the domain of discourse is that of all sets.
This brings to light the following apparent issue.
And the question. . .
As mentioned in the comments, your interpretation "for any set $x$, $P(x)$ is true" is correct. And this fine (or at least as fine as it can be). In this setting, the quantifiers are not formal entities. They're part of the metalanguage, just like English. We just enrinch the natural language (in this case English) with some extra symbols to facilitate communication. The $\in$ symbol is different, however, because in set theory it has a formal meaning.
There are contexts (e.g. predicate calculus) in which the quantifiers are formal symbols, in which they're not part of the metalanguage. In these contexts, the quantifiers are part of formal language just as much as $\in$ is in set theory. There are also formation rules that determine what formulas are legal, and in such systems a formula like $\forall x P(x)$ (it can be a little bit different, it may require some more parentheses, but it's something like this) is legal and that's that.