Currency trading with pairsOne of the basics of forex trading is that it is always done in currency pairs. You are always "trading" one currency for another on the FX market. This is an important concept, because a currency could be doing well in one pair, but declining in another.The euro is a good example of this. Because forex trading takes place in currency pairs, the euro is both gaining and declining. In EUR/JPY, the euro is gaining, showing strength against the yen. But in EUR/GBP, the euro is declining against the U.K. pound.When currency trading, it is important to remember that you are speculating on how one currency will do against one other in each position you take.
See Also
Learn Currency TradingThe basics (and more!) of forex trading
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