Forex Currency Pairsby Siam Luu
With forex trading, currency quotes are always priced in currency pairs. The first currency code is the base currency and the second currency code is the counter currency or quote currency. For example, consider the currency pair USD/EUR. The USD is the base currency and the EUR is the quote currency. One way to remember which is which is to remember that before you trade a currency, you must have that currency first before you can trade it for another currency. Similarly, with the above example or for any currency pairs, consider "1 USD will equal [quoted price] EUR."