From the platform, you will not see the name of the currency instead it is just an abbreviation of the currency. In forex trading, currencies are traded in pairs, and they are referred to as ‘pairs’.
For example:
EUR/USD pair. If you buy the EUR/USD pair at the price of 1.9000, that means you exchange USD 1.90 for EUR 1.00.
Types of Currency Pairs The most major and frequently traded major pairs are EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CHF.
Minor Pair is a pair other than the major pair.
But in this minor pair, there is a pair called ‘cross pair’ which is a pair that is not paired with USD. For example EUR/JPY, EUR/CHF, GBP/JPY, EUR/GBP, and so on.
Continue studying the next chapter.
