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THREE TYPES OF CURRENCY PAIRS

1.MAJOR

2.MINOR

3.EXOTIC

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1.MAJOR

What Are Major Pairs?
The major currency pairs on the forex market are the EUR/USD, USD/JPY, GBP/USD, and USD/CHF.
The four major currency pairs are some of the most actively traded pairs in the world, along with the so-called commodity currency pairs: USD/CAD, AUD/USD, and NZD/USD.

2.MINOR

What are minor currency pairs?
Foreign currencies are always traded in pairs – the value of one currency compared to a counterpart. Minor currency pairs, also known as cross currency pairs, are pairs that do not include the U.S. dollar, but do include at least one of the world’s other three major currencies. That is to say that the Japanese yen, British pound or the euro are at least one, if not both of the currencies included in the pair. Minor currency pairs are not to be confused with the seven major currency pairs, all of which include the U. S. dollar against one of the six other most liquid currencies in the world.

GBP/JPY,EUR/JPY,AUD/JPY,EURGBP,AUDCAD, and so on

3.EXOTIC

What Are Exotic Currency Pairs?

All currencies are traded in pairs known as currency pairs, which are made up of a base currency (the first currency indicated) and a quote currency. It represents the amount of quote currency you’ll need to buy one unit of the base currency.

In the currency pair EUR/USD, the most traded currency pair in the world, the Euro (EU) is the base currency, while the US Dollar (USD) is the quote currency. If the quoted price is 1.2000, then a trader will spend 1.20 USD to buy one EUR.

Currency pairs fall into different categories, and the type of currency pair affects the trading activity, liquidity, and by extension, the amount that a trader can make. For this reason, exotic currency pairs are gaining traction among traders because of the promise of greater returns.

USD/HUF (US Dollar/Hungarian Forint)
USD/SEK (US Dollar/Swedish Krona)
USD/TRY (US Dollar/Turkish Lira)
USD/CZK (US Dollar/Czech Krona)
USD/NOK (US Dollar/Norwegian Krone)
USD/MXN (US Dollar/Mexican Peso)
USD/ZAR (US Dollar/South African Rand)
USD/THB (US Dollar/Thai Baht)
EUR/TRY (Euro/Turkish Lira)
EUR/HUF (Euro/Hungarian Forint)
EUR/CZK (Euro/Czech Krona)

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