Currency Pairs are two different currencies that are traded together. Currency pairs are often used to trade forex, commodities, stocks, bonds, ETFs, etc. When trading currency pairs, you are essentially buying one currency and selling another. You can use these pairs to speculate on the value of one currency relative to another.
For example, if you think the U.S dollar will rise against the euro, you could sell EUR/USD (EUR/USD) and buy USD/EUR (USD/EUR). If you believe the opposite, you would do the opposite.
There are many different types of currency pairs, including;
1. Euro vs US Dollar
2. Canadian Dollar vs US Dollar
3. British Pound vs US Dollar
4. Australian Dollar vs US Dollar
5. Japanese Yen vs US Dollar
6. Swiss Franc vs US Dollar
7. New Zealand Dollar vs US Dollar
8. South African Rand vs US Dollar
9. Mexican Peso vs US Dollar
10. Brazilian Real vs US Dollar
11. Russian Ruble vs US Dollar