Thursday, July 31, 2008

12 Major currency pairs

Well to be honest there is no such thing as 12 major currency pairs, there are actually about 7 (depends on how you count) major currencies, and well ... many major currency pairs.

So what's with your title, you maybe wondering? Let me justify myself, like i said there is no such thing as 12 major currency pairs, this is my list of currency pairs i like to trade, all my currency pairs are made from major currencies thus the name "12 Major currency pairs", however i do not advice you to use this name in group of professional forex traders, in best case they will get confused ... i do not want to tell what can happen in the worst case here :).

I will give you the list shortly but let me first explain why i choosed this currency pairs. There are few reasons, there are quite big moves on them in short periods of time, small spread, and i find it easy to apply technical analysis to those currency pairs.

Ok here it is:
  • EUR/USD - well obvius, there is not a single trader who does not trade this currency pair
  • GBP/USD - pretty similar pair to EUR/USD however it is quicker, and the moves are about 50% bigger, 150 PIPs daily is not uncommon for this pair.
  • USD/JPY - quite predictible lately, notice that most of the time USD/JPY is bullish it moves slowly up, when there is a correction on this pair, it moves few hundreds pips down in just few days.
  • EUR/JPY - pretty much the same as USD/JPY but moves are less predictible
  • AUD/USD - good alternative where you have no idea where EUR/USD will go, however moves on this pair are smaller then on EUR/USD
  • USD/CAD - pretty predictible, mainly because CAD is highly correlated with oil price, and you know what oil price chart looks like right?
  • USD/CHF - very strong correlation between this pair and EUR/USD
  • EUR/CHF - the same as USD/JPY slowly moves up and then quickly falls down
  • EUR/CAD - high spread, well i do not know i just like to trade, i always find it easy to predict where will it move and how much
  • EUR/GBP - very slow currency pair, however sometimes spread can be low on it
  • EUR/AUD - this is very personal pick, i like to trade, but spread is very high so i only use it for long term trades
  • NZD/USD - yes NZD is not really a major currency, but i like to trade this pair because it has low spread, easy to predict and has weak correlation to any other pair on this list
Well that is all, if you have your own private currency pairs list feel free to share it here in comments section, also i will be happy to answer any of your questions.

75 comments:

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Teena robert said...

12 major currency pairs, Really you have studied alot about Forex trading and collected a great knowledge. These are most famous currency pairs in the forex market and also most traded currency Pairs. One more thing is that These currency pairs are having great volume so any kind of Forex Strategies can be implemented by any forex traders. IF someone Learning Forex then he/she must also study like this.

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Unknown said...

|Thanks for the information. Was looking for the major pairs. You listed them easily.

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Unknown said...

you got me with your ''12 Major currency pairs'' article heading. i actually thought, just may be other currencies have been added to the 7 i know. thanks, i guess i should add your blog to my google talk group

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"Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the DEFINITE ANSWER.



Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!



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ashish said...

"Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the DEFINITE ANSWER.

Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!

The "PROBLEM" is that markets change over time. If GBP/USD was a well trending currency pair a few years ago, today it is another one.

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"Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the DEFINITE ANSWER.

Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!

The "PROBLEM" is that markets change over time. If GBP/USD was a well trending currency pair a few years ago, today it is another one.

I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS among all the Forex pairs.

==> http://www.forextrendy.com?vhbshygdf398432

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valli haasiniinfotech said...

"Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the DEFINITE ANSWER.

Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!

The "PROBLEM" is that markets change over time. If GBP/USD was a well trending currency pair a few years ago, today it is another one.

I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS among all the Forex pairs.

==> http://www.forextrendy.com?vhbshygdf398432

The software scans 34 Forex pairs on all time frames from minute to monthly. This way you pick the best trending pair and time frame at the current time.

The system is running on our powerful computers, so you have nothing to download and install. Just join in and start using it within a FEW MINUTES! Get it on the link below:

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Unknown said...

“Which Forex pair and time frame is best to trade” is the frequently asked question and I want do give you
the DEFINITE ANSWER.
Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD
on daily...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!
The "PROBLEM" is that markets change over time. If GBP/USD was a well trending currency pair a few
years ago, today it is another one.
I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS
among all the Forex pairs.
==> http://www.forextrendy.com?hfsdtb63546
The software scans 34 Forex pairs on all time frames from minute to monthly. This way you pick the best
trending pair and time frame at the current time.
The system is running on our powerful computers, so you have nothing to download and install. Just join
in and start using it within a FEW MINUTES! Get it on the link below:
==> http://www.forextrendy.com?hfsdtb63546

Maggi Joshi said...
This comment has been removed by the author.
Maggi Joshi said...

The best currency pair today is USD and INR. One is falling and the other one is rising. They were once equal during indias independence in 1947. Hence importing fuel and transferring money online to united states has become very expensive

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Ravish Pardeshi said...

A good currency pair is always a key to get good marks in the Forex market. Some currency pairs act as Major currency pairs EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD. Some currency pairs belong to the minority those are EUR, JPY, GBP likewise. Right updation is really necessary to get a good hold in the market.
USDINR opened with partial loss continued bearish movement closed with loss. Now, the psychological level of 70.0000, likewise EURINR its support of 78.2000. On higher levels 79.0000 is strong resistance, GBPINR resistance mark of 91.3000 it may find next resistance near 91.5000, etc. you can opt for Online Forex Trading Tips by an expert for better result and prediction.

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