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what are the best currency pair to trade

Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer, and are traded in pairs. For example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).

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what are the best currency pair to trade

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  1. The Best Currency Pair To Trades theforexsecret.com

  2. 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) Theforexsecret.com

  3. What are the most common currency pairs traded in the forex market ? Theforexsecret.com

  4. Analysis of the Best Currency Pairs to Trade The Euro/Dollar Pair (EUR/USD) The Dollar/Japanese Yen (USD/JPY) 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. Theforexsecret.com

  5. 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. Theforexsecret.com

  6. 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. Theforexsecret.com

  7. 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 Zealand’s 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. Theforexsecret.com

  8. Follow Us Facebook: https://www.facebook.com/TheForexSecret/ Twitter : https://twitter.com/Dforexsecret Instagram : https://www.instagram.com/dforexsecret/ Telegram: https://t.me/theforexsecret Pinterest : https://www.pinterest.com/candacethomas728/ Tumbler : https://www.tumblr.com/blog/candacethomas728 Quora : https://www.quora.com/profile/Jacki-Exavier YouTube : https://bit.ly/2Uu0635 Theforexsecret.com

  9. THE FOREX SECRET

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