What are Currency Pairs?
Currency pairs are the most popular way to trade currencies. If you want to buy or sell a foreign currency, you need to use a pair that has its value in your domestic currency. For example, if you live in the US and know you want to buy euros next week, you'll need to buy a pair like EUR/USD (where EUR is the euro and USD is the dollar).
What is currency Pair?
Currency trading is divided into two parts. The first currency in a forex pair is known as the base. The base currency is the one that a trader thinks will go up or down against the second currency in the pair. This second currency is known as the quote or counter currency. Currency trading is divided into two parts. For example, if you buy a pound versus a US dollar (GBP/USD), you are DELL Cipating a rise in the pound at the expense of the US dollar. Profit and loss are normally expressed in the amount of the secondary currency in forex trading.