The buying and selling of currency pairs is known as forex trading.
When you begin trading Forex, you must first comprehend that you are simultaneously buying and selling a currency. You must register with a broker or dealer to gain access to these currency pairings.
A currency pair would be, for instance, EUR/USD, which represents the euro against the US dollar. When trading this currency pair, you must first sell your EUR in order to buy USD, and vice versa.
REMEMBER: When trading currencies on the Forex market, you always buy and sell in pairs.
Major currency pairs
- EUR/USD (Eurozone / United States )
- USD/JPY (United States / Japan)
- GBP/USD (United Kingdom / United States)
- USD/CHF (United States/ Switzerland)
- USD/CAD (United States / Canada)
- AUD/USD (Australia / United States)
- NZD/USD (New Zealand / United States)