Currency pairs in forex represent the comparison of two different currencies, and they form the foundation of trading in the foreign exchange market. Each currency pair consists of a base currency and a quote currency.

Currency Pairs, Bid and Ask Prices in Forex Trading

Forex trading involves trading currency pairs, which are two currencies that are traded against each other. The first currency in the pair is called the base currency, while the second currency is called the quote currency. For example, in the EUR/USD currency pair, the euro is the base currency and the US dollar is the quote currency.

When you trade forex, you'll see two prices listed for each currency pair: the bid price and the ask price. The bid price is the price at which you can sell the base currency, while the ask price is the price at which you can buy the base currency. The difference between the bid and ask prices is known as the spread.

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