Any particular price quoted in Forex is the price of one currency in terms of another, also known as an exchange rate. The currency whose symbol is on the left is called the base currency, and the currency on the right is the quote currency. Every price quoted is simply "the price of the base currency in terms of the quote currency" - which is a lot like saying that the price of GOOG (Google's stock) is really GOOG/USD (the price of Google in terms of US Dollars.)