Definition of FOREX Pairs
Forex refers to the foreign exchange market where currencies are traded. Currency trading represents the largest financial market worldwide, and it is the most liquid market. Currencies are logically grouped into pairs.
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Currency Pairs Explained
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Currencies are traded in pairs. The purchase of one currency includes the sale of another and vice versa.
The Majors
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There are four major currency pairs, and each major pair includes the U.S. Dollar. The majors are the Euro-Dollar, the Dollar-Yen, the Sterling-Dollar, and the Dollar-Swiss.
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The Minors
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There are three minor currency pairs, and each include the U.S. Dollar. The minor pairs are the Dollar-Canada, the Australian-Dollar, and the New Zealand-Dollar.
The Crosses
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Cross-currency pairs are currency pairs that don't include the U.S. Dollar. The three main groups of cross-currency pairs are the Euro crosses, the Yen crosses, and the Sterling crosses.
Warning
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It's important to never risk more money when currency trading than you can afford to lose without the loss affecting your well-being and lifestyle.
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