There are several currency pairs popular among currency traders. Much like exchanging money in forex involves the purchase of a one currency and the simultaneous sale of another. To make it easy FOREX markets refer to trading currency in pairs. The names which combines two different countries which can be traded against each other.
The seven most frequently traded pairs are referred as Majors. Some estimates says that these 7 major currency pairs make up 75-80 % of daily forex trading volume.
Chart of Majors
There are lot of other currency pairs that don't include the US Dollar but include the major currencies traded against each other. These are referred as cross currency pairs.
How Do We Choose Which Currency Pairs to Trade?
More traders who are new to Forex market start with one or two currency pairs. It is often make sense to start with the most popular pairs. Like Euro or Japanese yen since there are lot of information available about the underlying principle the economy at www.forex.com also you can find timely and relevant market data available for any currency pairs you may be interested in by accessing the pair page of forex.com for the most recent events news and information.
Understanding the Forex Quotes
(How to read and interpret the Forex price quote)
In forex trading currencies are always traded in pairs that is because you are exchanging one currency value to another. Hence the exchange in the foreign exchange. So every time when you place a forex trade you are buying one currency and simultaneously selling the other
