In forex trading there are 4 major currency pairs. They are commonly referred to as "The Majors". The majors are the most liquid and commonly traded currency pairs in the market.
EUR/USD
The first and foremost of commonly traded currency pairs that are highly liquid is the Euro(EUR) vs. USD(USD) currency pair. Most traders learning the markets start with the EUR/USD pair. The average daily range in the EUR/USD is 100 pips.
GBP/USD
The British Pound(GBP) vs the US Dollar(USD). This is also a widely traded pair with decidedly more volatility on average. Beginning traders should not trade this pair until they have some experience under their belts. The average daily range on the GBP/USD is 150 pips.
USD/CHF
The US Dollar(USD) vs. the Swiss Franc(CHF) is another major pair. This is a good pair to use when visually gauging the strength of the USD. The average daily range is 100 pips.
USD/JPY
The US Dollar vs. the Japanese Yen(JPY). This trading pair has it's own personality. It will sometimes trend in the opposite direction as the other dollar pairs during risk aversion in the markets. An important note, this pair can become highly volatile during shifts in risk taking in the markets. The average daily range of this pair is 100 pips.
There are any number of currency pairs that you can trade when forex trading. It's a good idea to start with these pairs because they tend to have more predictable movements and ranges.
EUR/USD
The first and foremost of commonly traded currency pairs that are highly liquid is the Euro(EUR) vs. USD(USD) currency pair. Most traders learning the markets start with the EUR/USD pair. The average daily range in the EUR/USD is 100 pips.
GBP/USD
The British Pound(GBP) vs the US Dollar(USD). This is also a widely traded pair with decidedly more volatility on average. Beginning traders should not trade this pair until they have some experience under their belts. The average daily range on the GBP/USD is 150 pips.
USD/CHF
The US Dollar(USD) vs. the Swiss Franc(CHF) is another major pair. This is a good pair to use when visually gauging the strength of the USD. The average daily range is 100 pips.
USD/JPY
The US Dollar vs. the Japanese Yen(JPY). This trading pair has it's own personality. It will sometimes trend in the opposite direction as the other dollar pairs during risk aversion in the markets. An important note, this pair can become highly volatile during shifts in risk taking in the markets. The average daily range of this pair is 100 pips.
There are any number of currency pairs that you can trade when forex trading. It's a good idea to start with these pairs because they tend to have more predictable movements and ranges.