Forex Currency PairsThis is the second part of your journey where you will learn what is traded on the Forex
If you have read the previous Forex trading guide where I have shown you what is Forex then you know that currencies are exchanged on the Forex.
Many participants are exchanging currencies and trading currencies.
But do you know what Forex currency exchange is?
Forex Currency Pair – What is Major, Minor, Cross Pair
Now it is time to learn more about what you trade on the Forex. What are currency pairs and how many of them are there?
What is Forex Currency Exchange
Let’s get back one step and see what currency exchange is in the real world. Exchange where you give the U.S. dollar to get Euro so you can pay the cost in Europe.
What are Forex Currency Exchange Rates
When you start trading you will have rates which tells you how much each currency is worth compared to the paired currency.
12 Best Currency Pairs to Trade in Forex for Beginners
With this list you will know what are the best pairs to trade in Forex. You can see what is important in trading the pairs in Forex
List of Currency Pairs
Here is a list of Forex pairs you will encounter in trading on the Forex.
Each pair has its own special characteristic so it is good to know about them at least what their nicknames are, like Cable, Ninja etc…
Later on when you learn how to trade you will return here to check more about the pip range of the pair which is useful in trading analysis.
EUR/USD Currency Pair
Now it is time to dive into Forex currency pairs and the first one is EUR/USD.
This article will show you all the details you need to know about the EUR/USD pair.
GBP/USD Currency Pair
GBP/USD is a pair known by the name “Cable”.
Do you know why Cable and do you know that it is one of quick pairs?
EUR/JPY Currency Pair
EUR/JPY and also known as Euro Japan Samurai.
Check more about this Euro Japan combination.
USD/JPY Currency Pair
USD/JPY Ninja Pair
Like EUR/JPY this pair has japanese nickname
AUD/JPY Currency Pair
There is no special name for the AUD/JPY trading pair in the Forex world. But if you would like to have some name I would suggest using Yussie
CFD means Contract For Difference and in Forex is used to trade currencies
GBP/JPY Currency Pair
GBP/JPY also known as widowmaker is a pair which you need to avoid if you do not know how to handle fast pairs.
What is GU in Forex
While reading or trading on Forex you have encountered someone saying GU. While it consists of two letters it is common to use that letter combination
EUR/CHF Currency Pair
EUR/CHF or the biggest crash in Forex history.
Do you know when the market crashed that big where some companies have been closed due to loss they suffer with EUR/CHF exchange rate
USD/CHF Currency Pair
USD/CHF aka Swissie
Do you know why Swissie? Because of Switzerland.
NZD/USD Currency Pair
NZD/USD aka Kiwi
The NZD/USD trading pair is called Kiwi by the New Zealand bird that does not fly
What is GJ in Forex
While reading or trading Forex you have encountered someone saying GJ. While it consists of two letters it is common to use that letter combination
EUR/GBP Currency Pair
EUR/GBP or Channel Tunnel.
These two European currencies are two most traded currencies and they are world wide known.
USD/CAD Currency Pair
USD/CAD Oil UP Pair DOWN
These two pairs are connected to oil price change
AUD/USD Currency Pair
AUD/USD or Aussie
Unique Australian impact have made this pair called “Aussie” among the traders
XAU/USD Currency Pair
XAU/USDXAU in Forex stands for Gold.
XAUUSD is currency pair which consist of XAU (Gold) and U.S. dollar (USD)
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