What are good forex pairs

The 10 best forex pairs for trading

  1. EUR/USD – The most traded currency pair in the world. The EUR/USD is the most traded currency pair in the world. This…
  2. USD/CAD – A popular currency pair for trading. USD/CAD is a popular currency pair for trading, as the economies of…
  3. USD/ZAR – A currency pair with high volatility. USD/ZAR is a currency pair with high…

Top 10 most traded currency pairs
  • EUR/USD (euro/US dollar)
  • USD/JPY (US dollar/Japanese yen)
  • GBP/USD (British pound/US dollar)
  • AUD/USD (Australian dollar/US dollar)
  • USD/CAD (US dollar/Canadian dollar)
  • USD/CNY (US dollar/Chinese renminbi)
  • USD/CHF (US dollar/Swiss franc)
  • USD/HKD (US dollar/Hong Kong dollar)

Full
Answer

What are the best currency pairs to trade in forex?

The Top 10 Forex Currency Pairs to Trade

  • AUD/USD – (Australian Dollar /US Dollar)
  • EUR/GBP – (Euro/Pound Sterling)
  • CAD/JPY – (Canadian Dollar/Japanese Yen)
  • EUR/USD – (Euro/US Dollar)
  • GBP/JPY – (Pound Sterling/Japanese Yen)
  • GBP/USD – (British Pound/US Dollar)
  • NZD/USD – (New Zealand Dollar/US Dollar)
  • USD/CAD – (US Dollar/Canadian Dollar)
  • USD/CHF – (US Dollar/Swiss Franc)

More items…

What are the Best Forex trading pairs for this week?

  • Trading the two currencies that are trending the most strongly over the past 3 months.
  • Assuming that trends are usually ready to reverse after 12 months.
  • Trading against very strong counter-trend movements by currency pairs made during the previous week.
  • Buying currencies with high interest rates and selling currencies with low interest rates.

How to choose the best pairs for forex currency trade?

WHAT IS THE BEST CURRENCY PAIR TO TRADE IN FOREX

  1. Type of Currency Pair;
  2. Strength of a pair;
  3. Time of Trading;
  4. Volatility

What is the most traded forex pair?

Most popular forex pairs for beginners. The United States dollar (USD) is the most commonly traded currency in the world, and therefore most major forex pairs include the USD as the base or quote currency. When combined with other currencies from some of the world’s biggest economies, including China, Japan and the United Kingdom, these are …


Which forex pairs are most profitable?

The Best Forex Major Currency PairsEUR/USD: The Euro and US dollar. … USD/JPY: The US dollar and Japanese Yen. … GBP/USD: The British pound sterling and US dollar. … USD/CHF: The US dollar and Swiss Franc. … AUD/CAD: The Australian dollar and Canadian dollar. … NZD/USD: The New Zealand dollar and US dollar.More items…


What is the best pairs to trade?

Of the many currency combinations that you can choose from, the following are the top 10 forex currency pairs:EUR/USD. The Euro and the US dollar represent our two major economies globally, and as such, this is the most-often traded currency pair. … GBP/USD. … USD/JPY. … AUD/USD. … EUR/GBP. … USD/CAD. … USD/CHF. … NZD/CHF.More items…•


What are the 5 major pairs in forex?

The five currencies that make up the major pairs—the U.S. dollar, euro, Japanese yen, British pound, and Swiss franc—are all among the top seven of the most traded currencies as of 2021. The EUR/USD is the world’s most heavily traded currency pair, representing more than 20% of all forex transactions.


How do you pick a forex pair?

The criteria for choosing currency pairs Each currency pair has the time when it is most active. This is the time when trade volumes are the largest, and the price might move significantly. For example, USD/JPY, AUD/USD, and NZD/USD are active in the early morning, during the Asian session.


What is the safest currency pair to trade?

List of Top 10 Stable Currency PairsEUR/USD. The EUR/USD currency pair takes the largest portion of the overall trading volume. … GBP/USD. GBP/USD is another heavily traded currency pair. … USD/JPY. USD/JPY is the second most traded currency pair. … USD/CAD. … AUD/USD. … USD/CNY. … USD/CHF. … GBP/JPY.More items…•


What is the easiest currency pair to trade?

What is the Easiest Currency Pair to Trade? EUR/USD is not just the easiest, but also the most stable currency pair to trade. It is the best choice not only among beginners but also for professional traders. This is one of the most traded currency pairs due to tight spreads and liquidity.


Which currency pair is most profitable in forex 2021?

Here’s a look at six of the most tradable currency pairs in forex.EUR/USD. YinYang/Getty Images. … USD/JPY: Trading the “Gopher” The next most actively traded pair has traditionally been the USD/JPY. … GBP/USD: Trading the “Cable” … AUD/USD: Trading the “Aussie” … USD/CAD: Trading the “Loonie” … USD/CNY: Trading the Yuan.


What is the most volatile forex pair?

The most volatile currency pairs are “exotics,” although few traders choose to trade them because of their unpredictability and high risks. Less but still volatile are AUD/JPY, AUD/USD, EUR/AUD, NZD/JPY, GBP/AUD, GBP/NZD. The least volatile currency pairs are EUR/CHF, EUR/USD, AUD/CHF, USD/CHF, EUR/CAD, etc.


What is the most traded forex pair?

EUR/USDEUR/USD. The Euro to US Dollar currency pair is the single most widely-traded Forex pair on the market and comprises the currencies of two of the world’s biggest economies: Europe and the U.S. Essentially, when trading EUR/USD, traders trade the euro against the U.S. dollar.


How many pairs should a trader trade?

A good rule of thumb for traders new to the market is to focus on one or two currency pairs. Generally, traders will choose to trade the EUR/USD or USD/JPY because there is so much information and resources available about the underlying economies. Not surprisingly, these two pairs make up much of global daily volume.


What are the Most Stable Currency Pairs?

The least volatile and thus the most stable forex pairs are majors:
EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, GBP/JPY, EUR/JPY, and…


What is the Safest Currency Pair to Trade?

Beginner traders are recommended to trade major currency pairs and
avoid trading exotics. Read trading recommendations for four major…


What is the World’s Strongest Currency?

The Kuwaiti dinar (KWD) is the world’s most expensive currency. The
strength of the currency is attributed to the fact that Kuwait is…


How Many Currency Pairs Should I Trade?

It is best to start learning by trading a single currency pair.
It is also advisable to trade a major currency pair, e.g., EUR/USD.


Best forex pairs to trade in 2022

Planning to trade forex pairs in 2022? With more than 100 currency pairs, choosing the best forex pair to trade in 2022 is not an easy thing to do. Fear not, we at Trading Education have put a list together of the best currency pairs to trade in 2022!


The Top 10 Forex Currency Pairs to Trade

Down to the nitty-gritty, the following section looks at each Forex currency pair in the top 10 list of the best currency pairs to trade.


Recap of the Top 10 Forex Currency Pairs to Trade in 2022

Other than EUR/GBP, each currency pair in the list of the top 10 Forex currency pairs to trade has potential setups for taking a high probability trade.


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FAQs

Forex traders don’t fail because trading Forex is difficult. In reality, the trading process is simple. With a bit of knowledge and experience, anyone can make money from trading Forex currencies.


Groups of Currency Pairs

In the FX world, all currency pairs are conventionally divided into three groups: exotics, minors, and majors. Such classification is based on the criteria of trading volume, liquidity, and volatility. Exotics (e.g., USD/MXN, USD/TRY) are the pairs that include at least one currency of a developing country.


What is a stable currency pair

Saying a “stable currency pair,” we mean one that doesn’t tend to sharp price fluctuations throughout a short time period. Given the classification above, the most liquid, and thus the least susceptible to large price swings, pairs are majors.


List of Top 10 Stable Currency Pairs

The EUR/USD currency pair takes the largest portion of the overall trading volume. This pair can boast high liquidity as it consists of the currencies of the two powerful markets. The pair is known to have a positive correlation with the GBP/USD and a negative correlation with USD/CHF.


Final Words

It is true that a certain degree of volatility is required in order to profit in the forex market. However, too much of it may be risky. This is why many traders prefer to trade major currency pairs (EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, GBP/JPY, and USD/CAD).


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What Are the Types of Currency Pair To Trade?

This is a part you should be familiar with if you are not and that is about the type of currency pairs.


What Makes a Good Currency Pair?

Currency pairs have several characteristics and one of them are liquidity, volatility, spread and strength.


Most Popular Currency Pairs to Trade for Beginners

As a beginner in trading you will for sure trade USD and EUR currency in pairs with other currencies. The most traded pair is EUR/USD currency pair.


Currency pairs

For the analysis, we chose 10 currency pairs that three conditions: they are very liquid (according to the 2019 Triennial Central Bank Survey ), they have low spreads, they are readily available at retail Forex brokers.


Methodology

We use the following methods to assess the trendedness of the currency pairs:


Calculations

We can calculate the absolute change in the exchange rate of a currency pair in a given period (day, week, month), using the following formula:


Conclusions

Our research has revealed the following facts based on the studied period of 5 years:


Script

And now to the most important stuff — a MetaTrader script that can be used to get the same data that is presented in this guide and even more. TrendStats script consists of two files that should be unarchived into the same subfolder inside your /MQL4/Scripts/ folder ( /MQL5/Scripts/ for MetaTrader 5).


What Is Forex Currency Trading?

Forex trading – or foreign exchange trading – is all about buying and selling currencies in pairs. To be able to buy and sell currencies effectively, you need to have information about how much each currency in a pair is worth in relation to each other. This relationship is what defines a currency pair.


Currency Futures vs Forex

It’s worth mentioning here that In the world of active trading, people engage in currency trading via the futures or Forex markets. We will now briefly illustrate the difference between trading currency futures vs Forex with an explanation of currency futures.


What Are the Forex Major Pairs?

Do you want to learn Forex currency trading online? If so, it will help to learn what the major and minor currency pairs are first.


Which is the Best Currency Pair to Trade in Forex?

We will now look at some Forex currency trading tips to help you decide which currency pairs to trade. With over 200 countries in the world, you can find more than a handful of currencies to trade. However, these may not have the potential to deliver the best results.


Pair Analysis – Top Forex Pairs to Trade

Let’s take a detailed look at some of the options when it comes to Forex trading:


Minor and Exotic Forex Pairs

As we saw above, the major Forex pairs consist of the most heavily traded currencies and all include the US dollar. Minor Forex pairs, also known as cross currency pairs, are pairs that do not include the US dollar. These pairs have wider spreads and less liquidity than the major pairs, however, they still have sufficient liquidity for trading.


Technical and Fundamental Analysis

Just like any other skill, becoming successful at trading takes time and plenty of practice. To master this skill you need to have a lot of patience, discipline, but most of all you need to be passionate about the industry. Successful trading starts with having a trading plan that is based on either Technical or Fundamental analysis.


1. EURUSD

An example EURUSD currency pair. The PivotPoints.All-in-One indicator is used on the chart


2. USDJPY

The USDJPY comprises the US dollar and the Japanese yen. And it is a currency pair that many traders love for its volatility and sharp swings. These wide price swings are mostly due to the JPY. Beginner forex traders who want to learn how to trade extremely volatile pairs would learn a lot on the USDJPY.


3. GBPUSD

The GBPUSD is another highly volatile pair on which the beginner trader can rely to understand the operations of volatility in the forex market. This currency pair has the British Pounds as the base currency and the US dollar as the quote currency. Both economies are robust enough to fend off market instability on the pair.


4. AUDUSD

The Aussie, as it is nicknamed, is made of the Australian Dollar and the US dollar. For beginner forex traders who want to take a more slow-paced approach to forex trading, the AUDUSD is one of the safest pairs to trade.


Useful Trading Tips To Help Beginners Trade any Currency Pair

As a beginner, it isn’t enough that you pick one of the best currency pairs up there to trade. It would also be of immense help to you if you knew how to trade them properly. Here are some useful tips to help you:


Summary

As a beginner in forex trader, those currency pairs are good to trade. However, these are only recommendations. You can do your research and come up with your list of currency pairs to trade.

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