Pair
In the context of trading, the term ‘pair’ refers to two different currencies that are traded against each other on an exchange market.
An example of a pair is BTC/EUR, also spelled BTC-EUR or BTCEUR, which represents the financial relationship between Bitcoin and the Euro. The price of the pair, or exchange rate, tells traders how many units of the quoted currency (the second one, Euro) are needed to buy one unit of the base currency (the first one, Bitcoin). The base currency is bought or sold, while the quoted currency is used as a reference for the pair price.