The more you know the better prepared you will be – should you decide to give minor or exotic pairs ago. We think it is still beneficial to familiarise yourself with exotic currency pairs. Whilst they are less popular than the majors, it is not impossible to do well from these pairs with a little knowledge.Įven though, for instance, AUD/NZD does not tend to move many pips in a trading day. AUD/HKD: Australian Dollar/Hong Kong Dollar.GBP/CAD: Great British Pound/Canadian Dollar.GBP/JPY: Great British Pound/Japanese Yen.NZD/JPY: New Zealand Dollar/Japanese Yen.Here are a few examples when it comes to lesser used and more ‘exotic’ currency pairs USD/CHF: United States Dollar/Swiss Franc.USD/CAD: United States Dollar/Canadian Dollar.USD/JPY: United States Dollar/Japanese Yen.
AUD/USD: Australian Dollar/United States Dollar.GBP/USD: Great British Pound/United States Dollar.Some other popular currency pairs are as follows: With an impressive average of between 90 and 120 pips, it is clear to see why this is considered a very liquid pair. This is because of a large number of pips moved on a daily basis.
Again this is down to supply and demand, and thus – it is the most traded currency pair.ĮUR/USD offers traders a variety of short term trading prospects. In fact, it is widely believed that this is the most liquid currency pair in the forex market. The investments of traders, banks, exporters, and importers actually create this all-important supply and demand.Ī great example of a liquid currency pair would be EUR/USD. In effect, the currency pairs considered the most liquid are the currencies which are the most popular (supply and demand). We at Learn 2 Trade believe that cutting through the jargon is crucial when it comes to learning and honing in on your forex skills.īelow you will find a list of the most important terms that you need to master. Next in this forex course, we are going to run through some of the most predominantly used phrases and terms utilized in the space. You will achieve this goal when you correctly speculate which way a particular exchange moves in the short term. Ultimately, from your perspective, the main premise of the forex market is to sell or buy currencies against each other, with the aim of making money. Whatever the reason, one of the major draws is the fact that once you have opened a position you can put an automatic stop loss in place, which closes the trade for you in a risk-averse manner. This trading scene covers a variety of purposes, such as exchanging foreign currencies for tourism, a corporation looking to hedge risk, or perhaps just to make a trade which might prove profitable. And with an estimated 5 trillion US dollars being traded every single day, the forex market is showing no sign of slowing down. With corporations, banks and investors all buying and selling foreign currencies 24 hours a day and 7 days a week, it is very clear that forex trading is increasingly popular amongst investors and traders around the world. Anyone can join in and try to make a profit in this trading market. Sometimes referred to as FX, forex is responsible for the exchange rate for two currencies (referred to as a currency pair). Visit Eightcap now What is Forex?įorex is essentially the foreign exchange market, comparable to the London Stock Exchange or NASDAQ, but for currencies from around the globe. 71% of retail investor accounts lose money when trading CFDs with this provider.
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