EURUSD for new traders, who are venturing into trading.
Currency pair recommendations
- Thread starter Evrardmakon
- Start date
The answers to the question of which currency pair is best to trade are quite subjective and they depend on one's preferences, expectations and expertise.
Surely, the safest way to trade forex is to trade majors as everybody knows that they are the most liquid and volatile on the market. Moreover, the are the most studied forex financial instruments. I mean that it is easy to find the information about EURUSD rather than other pairs. However, I think that every trader should aspire to learning minors and exotic pairs as well. It hink so because of the fact that they have greater potential profits and if you can comb the high risks, your trading will be much more profitable than ever.
I, for one, see lots of opportunities in RMB. I feel that this currency hides lots of different perks as Chinese economy is developing at incredibly fast pace and we should be ably to get benefits from such a development. However, I shouldn't forget about the risks which are associated with Chinese developing market. There is much uncertainty and unpredictability there, but I am learning how to analyze the market in the most efficient and precise way, so, wish me luck.
Surely, the safest way to trade forex is to trade majors as everybody knows that they are the most liquid and volatile on the market. Moreover, the are the most studied forex financial instruments. I mean that it is easy to find the information about EURUSD rather than other pairs. However, I think that every trader should aspire to learning minors and exotic pairs as well. It hink so because of the fact that they have greater potential profits and if you can comb the high risks, your trading will be much more profitable than ever.
I, for one, see lots of opportunities in RMB. I feel that this currency hides lots of different perks as Chinese economy is developing at incredibly fast pace and we should be ably to get benefits from such a development. However, I shouldn't forget about the risks which are associated with Chinese developing market. There is much uncertainty and unpredictability there, but I am learning how to analyze the market in the most efficient and precise way, so, wish me luck.
@ActiveLead I agree with your point about exotic currency pairs. This is the reason why most of the traders prefer trading major currency pairs which offer good liquidity and are less volatile.
Although there are over 60+ pairs to choose, not all pairs can get you substantial returns. Traders should check liquidity of pairs and choose pairs that are highly liquid. Pairs like EUR/USD, USD/CHF, USD/JPY, and other major pairs are good to trade.
Yessss!
Currency pairs with higher liquidity are the best.
EUR/USD
USD/JPY
GBP/CHF
NZD/USD
AUD/USD
USD/JPY
GBP/CHF
NZD/USD
AUD/USD