E.g. USDCAD or USD/CAD are the same.
Currency pair is in form of BaseQuote.
Currency pair comprises of base currency (i.e. transaction currency) and then a quote currency.
XXX is the base currency. YYY is the quote currency.
For example, the pair USDCAD comprises of base currency of USD and quote currency of CAD.
For example, the pair AUDUSD comprises of base currency of AUD and quote currency of USD.
There are 3 currency pairs in direct quote: USDCAD, USDCHF and USDJPY
There are 4 currency pairs in indirect quote: AUDUSD, EURUSD, GBPUSD and NZDUSD
Direct Quotes:
USDCAD 1.32593 means 1 U.S. dollar = 1.32593 Canadian dollars
USDCHF 0.98896 means 1 U.S. dollar = 0.98896 Swiss francs
USDJPY 108.502 means 1 U.S. dollar = 108.502 Japanese yen
Indirect Quotes:
AUDUSD 0.72006 means 1 Australian dollar = 0.72006 U.S. dollars
EURUSD 1.13965 means 1 Euro = 1.13965 U.S. dollars
GBPUSD 1.28400 means 1 British pound = 1.28400 U.S. dollars
NZDUSD 0.68232 means 1 New Zealand dollar = 0.68232 U.S. dollars
APPLUSD 153.07 means 1 APPL stock = 153.07 U.S. dollars
GOOGUSD 1077.15 means 1 GOOG stock = 1077.15 U.S. dollars
7 Major Currencies:
https://www.sharptrader.com/new-to-trading/forex/majors-minors-exotic-currency-pairs/
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
14 Cross Pairs:
https://www.sharptrader.com/new-to-trading/forex/majors-minors-exotic-currency-pairs/
AUDJPY
CADJPY
CHFJPY
EURAUD
EURCAD
EURCHF
EURGBP
EURJPY
EURNZD
GBPAUD
GBPCAD
GBPCHF
GBPJPY
NZDJPY
Implemented Cross Pairs:
AUDJPY = AUDUSD x USDJPY = 0.71465 x 109.234 = 78.06408
AUDNZD
CADJPY
EURAUD = EURUSD x USDAUD = EURUSD x 1 / AUDUSD
EURGBP
EURNZD = EURUSD x USDNZD = EURUSD x 1 / NZDUSD
EURJPY = EURUSD x USDJPY
GBPJPY = GBPUSD x USDJPY
GBPAUD = GBPUSD x USDAUD = GBPUSD x 1 / AUDUSD = 1.31429 / 0.71465 = 1.83906GBPNZD = GBPUSD x USDNZD = GBPUSD x 1 / NZDUSD
NZDJPY
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