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Wednesday, October 20, 2021

Which is the best currency pair for trading?

There are six major currency pairs listed as follows; AUD / USD (Australian Dollar US Dollars), EUR / USD (Euro V’s United States Dollar), GBP / USD (Great British Pound V’s United States Dollar), USD / CAD (USD Dollar US Dollars), USD / CHF ( The Swiss Dollar V United States FRANC) and USD / JPY (Japanese Yen Dollar v United States). This is the most traded currency pair and each has a different level of volatility. The best currency pair to trade really goes down to personal experience and preferences. In this article I will provide insight into three first trade pairs and points that must be considered.

AUD / USD.

You will see that all currency pairs above are traded against the United States dollar because it is three first currency pairs, which have a second USD in a partner, will tend to move in the opposite of the last three pairs, which has a USD in the first pair. When using a graph of trading forex the best is to have the first three graphs above three 6 x 2. The settings of this setting you will see the AUD / USD fall directly above the USD / CAD, showing the mirroring effect on mildly occurs with these two graphics . Attention must be taken when one or other graphs close to the level of support or resistance because it may have an impact on each other. AUD / USD currency pair is not the most fluctuating but does have the moment especially when the Sydney market is open around 2:00 a.m. GMT. There are several good solid advantages to get from this currency at that time.

EUR / USD.

Euro is a good currency to trade against USD; It’s pretty fluctuating and does see steps more than 100 pips a day. Once again this chart will fall above the USD / CHF chart and has a mirroring effect that is almost right, so the trading of the currency pair is almost impossible without judging the Swiss franc at the same time. This is a good currency pair currently trading and has good volatility with European news warnings.

GBP / USD.

GBP / USD is the most fluctuati of six currency pairs and must be traded carefully. Even though this currency is the most profitable and has seen more than 1000 pips can have a very cruel and famous swing because it takes a loss stop regularly. To trade this currency requires some experience and talent when it comes to manipulating your stop loss. This is a brilliant and very pleasant currency to trade on the first Friday every month when United States releases, ‘non-perpermic employment data.