What is Currency Pair in Forex?

[Luke Hansen]

The principal thing that we traders should become aware of about forex trading is the currency pair decision. Each time we are engaging in forex trading, we are trying to play with a pair. Here, we have to trade between modifications of two currencies’ values. When we trade in a pair, we do not procure or vend just one monetary standard, we buy / sell another currency with a currency.

 

[forexfactory]

In the Foreign exchange market, currencies are traded in pairs. Example is EURUSD - Euro vs US. Dollar. This is because Forex is all about exchange currencies at fluctuating exchange rates.

 

[Electric Rainbow]

Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer and are traded in pairs. Think of currencies as stocks. One stock represents one share in its respective company and the price of each stock has value.