About Forex pairs and Pairs Classification

Forex or Foreign Exchange Market is a global market of international currency and in Forex, a currency will be traded against another currency like EURUSD, GBPUSD, EURGBP, USDCAD, AUDUSD, NZDUSD, USDCHF, USDJPY, we call it as currency PAIRS.

For the example EURUSD (Euro value against USD) value is 1.2500, so it means €1 is equal to $1.25 (USD), that's how to read EURUSD value.

Forex Pairs Classification
In Forex, the currency pairs divided based on the volume of supply and demand it's major pairs into 3 categories which is major pairs, crosses pairs, and exotic pairs.

Almost all of Forex trader usually like to trade with major pairs, it's because major pairs give them less spread so it only need a few pips to get break even. Here is major pair list:
EURUSD (Euro against US $)
GBPUSD (Pound sterling against US $)
EURGBP (Euro against Pound sterling)
USDCAD (US $ against Canadian $)
AUDUSD (Australian $ against US $)
NZDUSD (New Zealand $ against US $)
USDCHF (US $ against Swiss Franc)
USDJPY (US $ against Japanese Yen)

For traders who like more challenge to get more profit from their trade, they may use crosses pairs because sometimes it can be more volatile than major pairs. Crosses pairs are the other combination of the major pairs, and here is crosses pairs list:
- EURCHF (Euro against Swiss Franc)
- GBPJPY (Pound Sterling against Japanese yen)
- AUDCAD (Australian $ against Canadian $)
- NZDCAD (New Zealand $ against Canadian $)
- EURJPY (Euro against Japanese Yen)
- GBPNZD (Pound Sterling against New Zealand $)
- EURJPY (Euro against Japanese Yen)
- Etc.. (The combination from EUR, GBP, USD, AUD, NZD, CHF, JPY, CAD)

And the last classification is exotic pairs, usually it's the combination of major currency with another currency which not listed in major pairs or exotic pairs, for example:
- AUDMXN (Australian $ against Mexican Pesos)
- AUDSGD (Australian $ against Singapore $)
- EURHKD (Euro against Hongkong $)
- EURZAR (Euro against South Africa Rand)