Forex Trading Pairs
The pair usd-eur is not traded for historical reasons. some pairs have nicknames, which are useful to learn for understanding trading discussion. nicknames for forex pairs. the gbp/usd pairing is known by traders as ‘the cable’ at one time an undersea cable connected the trading floors in london and new york to synchronise trading in. For trading purposes, the first currency forex trading pairs listed in the pair is always the directional currency on a forex price chart. if the price is moving up on eur/usd, it means the euro is moving higher relative to the u. s dollar. if the price on the chart is falling, then the euro is declining in value relative to the dollar. Currency pairs of the major economies. major currency pairs are based on a list of popular currencies that are paired with the usd. the basket of major currencies consists of 7 pairs only. these currency pairs account for most of the turnover of forex market. for instance, eurusd pair alone accounts for about 30% of the tr...