what are the best currency pair to trade

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The Best Currency Pair To Trades

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What Are The 7 Major Currency Pairs?

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

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What are the most common currency pairs traded in
the forex market ?
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Analysis of the Best Currency Pairs to Trade

•   The Euro/Dollar Pair (EUR/USD)

• the most popular currency pair is the Euro/USD
  also called the Euro. Since the inception of
  the European Central Bank in 1999, the euro has
  the first precedence as a base currency,
  according to stipulated norms. The pair is
  impacted by economic releases both by the US
  Federal Reserve and the ECB. A strong dollar
  leads to a decline in the value of the pair and
  vice versa.
• Japan is one of the biggest net exporters in the
  world, which is why traders or investors
  regularly need to convert local currencies into
  the yen. The yen is also a popular currency for
  carry trade strategies. Carry trade is a
  strategy similar to the buy low, sell high
  plan. Due to a consistent lower interest rate on
  this pair, traders can profit from the interest
  rate differential with USD, amidst a stable
  exchange rate.

•   The Dollar/Japanese Yen (USD/JPY)

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• The British Pound Sterling/US Dollar (GBP/USD)
• Trading this pair is often referred to as trading
  the Cable. Back in the 1800s, the exchange rate
  between these two currencies was transmitted via
  a large cable that ran along the floor of the
  Atlantic Ocean. In the ongoing Brexit
  negotiations, experts around the world are
  keeping a close watch on the performance of this
  pair.
• The US Dollar/Swiss Franc (USD/CHF)
• Popularly known as the Swissie, the pair is
  highly impacted by the interest rate differential
  between the US Federal Reserve and the Swiss
  National Bank. The swiss franc is considered a
  safe haven currency, which means that in times of
  extreme volatility and uncertain global market
  conditions, the CHF appreciates in relation to
  the USD.

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• The Australian Dollar/US Dollar (AUD/USD)
• The Australian economy thrives on commodities
  trading, being a huge exporter of coal and
  iron-ore. The price of the AUD is therefore
  highly dependent on commodity prices. The pair
  shares a negative correlation with other pairs,
  such as the USD/JPY and USD/CHF.
• The US Dollar/Canadian Dollar (USD/CAD)
• Another popular commodity pair is the Loonie
  Canada is also an economy dependent on commodity
  prices. It has huge reserves of timber, natural
  gas, and oil. Its physical proximity to the
  United States is an advantage, with which it
  shares huge trade volumes. In the ongoing trade
  tariffs imposed on Canada by US President Trump
  and retaliatory tariffs imposed by the Canadian
  government, the CAD has become vulnerable to
  market volatility.

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• The New Zealand Dollar/US Dollar (NZD/USD)
• Named after the popular fruit indigenous to New
  Zealand, the Kiwi is hugely impacted by the
  dairy market and tourism industry. New Zealand is
  the largest exporter of milk products, which
  means that if milk prices are on the rise,
  the NZD tends to appreciate. New Zealands
  economy also thrives on its tourism numbers.
• The pair you choose to trade might be based on
  the country in which you will be trading or on
  your analysis of where you stand to see the most
  opportunities for profit. However, always
  remember to base all trade decisions on careful
  analysis, with adequate risk management measures
  in place.

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