Understanding Forex Pairs: Majors, Minors, and Exotics

The overseas exchange (Forex) market is the largest and most liquid monetary market globally, with trillions of dollars traded daily. For anybody looking to navigate this advanced yet rewarding landscape, understanding Forex pairs is essential. Forex pairs are the foundation of currency trading, and they're categorized into three essential groups: majors, minors, and exotics. Every type of pair has unique characteristics, risks, and opportunities that traders ought to understand to make informed decisions.What Are Forex Pairs?Forex pairs include two currencies traded towards every other. The primary currency within the pair is the "base currency," and the second is the "quote…