What pairs to trade?
To trade the Forex market there is a huge amount of currency pairs. Most traders open a position by all famous GBPUSD and EURUSD. But in addition to these pairs to trade there are lots of other currencies and metals.
theSo what currency pairs can be traded on Forex, and what tools you want to exclude from the portfolio?
let's Start razbiratsya with the fact that there are three groups of currency pairs:
the-
the
- Exotics - Exotic couple; the
- Crosses - Cross rates; the
- Majors - Main Currency pairs.
the Major currency pairs the Forex
currency pairs mainly include couples who have the U.S. dollar and the currencies of the more significant countries. Here they are:
the-
the
- USD and GBP – the US Dollar and the British pound; the
- USD and EUR the US Dollar and the Euro; the
- and AUD USD – the US Dollar and the Australian dollar; the
- JPY and USD – Japanese yen and the U.S. Dollar; the
- USD and NZD – USD and NZD the
- CAD and USD – Canadian dollar and the U.S. Dollar; the
- and CHF USD – the Swiss franc and the U.S. Dollar.
by the Way, today, also are not less favorable.
theWhat pairs are best to use and which are not?
All of the above pairs, it is possible to use in the trade, but, except for USDCAD. USDCAD is not quite as well predicted, thanks to technological analysis and thus is suitable only for night scalping. For Example, Forex Shocker. And beginners can advise, do not trade USDJPY and USDCHF. USDCHF the difference between weak stability of movements, and USDJPY takes a bit more careful analysis than all the other "majors" and often throws various unexpected tricks, such as Central Bank intervention.
Also I want to note that not all of these crosses is used in trade. For any classical trading directly on trends are the most preferred pairs with yen, but with the exception of CHF/JPY and CAD/JPY. Namely: EUR/JPY, AUD/JPY, GBP/JPY and NZD/JPY. But these couples are not recommended to novice traders, because USDJPY has many surprises, and without significant experience in the technical forecasting work with these currencies is not necessary.
theCurrency pairs are not relevant to gold and silver, that's why they are isolated in a special separate group.
the-
the
- and XAG USD Silver and the U.S. Dollar; the
- XAU and EUR — the Euro and Gold the
- and EUR XAG — Silver &Euro; the
- XAU and USD – Gold and the U.S. Dollar.
Translated by "Yandex.Translate": translate.yandex.ru.