Among a wide variety of pairs worth considering for Forex trading, it is quite challenging to choose the one that is easiest to trade and that will become your source income. But you cannot navigate and make a decision yourself, follow recommendations of profi’s.
Thus, it will be easier for you to make the right choice without failing. In this post, we have compiled for you the topmost liquid and convenient Forex assets for trading. By the way, you can always use Alpari for trading and getting the most up-to-date information. The service is highly intuitive and extremely easy to use.
IMAGE: PEXELS
Time To Start Trading
If you are already an Alpari customer ready for Forex trading, then let us introduce the best options to you.
- EUR/USD
- USD/JPY
- GBP/USD
- AUD/USD
- USD/CHF
- USD/CAD
Of course, the best pair to trade on exchange depends on the finance market condition. However, the above ones are the proven top.
Trading With The EUR/USD Currency Pair
The Euro and the US dollar are, of course, a classic and sought-after pair for trading. It boasts of the largest trading volumes, which positively affects the deal specs. Some brokers on stocks offer Euro / Dollar trading with spreads from just 0.5 pips so that you can make money when trading small amounts. On top of that, the pair is among the top volatile ones: intraday fluctuations can exceed 100 points.
Trading With The GBP/USD Currency Pair
This pair boasts high popularity among professionals and beginning traders. Its high popularity is associated with the high volatility of GBP/USA — the pair can reach up to 130 points in a day, thus, causing greater fluctuations in the exchange rate.
By the way, the GBP/USD is a very attractive pair for traders who are fond of technical analysis. It perfectly fulfills the lines of resistance and support, but you should keep in mind that breakouts occur more often than rebounds. Also, be prepared for the fact that at the beginning of the London session, the pair shows large movements up and down, due to which false breakdowns occur.
Trading With The USD/JPY Currency Pair
The USD/JPY currency pair is very interesting, although a little “capricious.” The USD is the main world currency, while the Yen is the main currency of the Asian region. Of course, the Yuan is strengthening its position. However, while it remains not quite freely convertible, it is the Yen that holds the lead. On average, the intraday range of fluctuations affecting the USD/JPY pair does not exceed 90 points, which is a lot.
Taking into account that the pair correlates well with the main Japanese stock index Nikkei 225. When the index grows, a similar uptrend is also observed on the USD/JPY chart, and vice versa: the decline in the index is parallel to the fall of the dollar/yen.
Conclusions
The listed pairs are the widely used ones, but they far from the only ones beneficial to work with on Forex. The top pair to work with is difficult to determine since each of them is suitable for a strategy being chosen. Along with the main currency pairs, good cross rates are some other things to check, for example, EUR / JPY, GBP / EUR.
They are also worth paying attention to. Among the pairs that are convenient for trading, NZD / USD and USD/CAD can also be noted. To pick the best, we strongly recommend you to stay tuned to the market specs and decide on the strategy to us.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
COMMENTS