Top 6 Most Tradable Currency Pairs · 1. EUR/USD · 2. USD/JPY: Trading the "Gopher" · 3. GBP/USD: Trading the "Cable" · 4. AUD/USD: Trading the "Aussie" · 5. USD/CAD. Since most traded pairs include the US dollar, it's best to watch EUR/USD, USD/JPY, and GBP/USD. It's also essential to consider the periods you'll be trading. You may find this useful for identifying swing trades based on strongly trending forex pairs. Forex swing traders are constantly faced with having to choose. FOREX TRADING DI MALAYSIA MUA
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Their success depends on management, innovation, financial success, and whatnot. Thus, one company in the industry may fail or drag behind miserably, while the other or others will be highly successful. So, to get an understanding of stock potential, one needs to explore the microeconomics of this particular company from quarter to quarter, from one financial statement to another one.
Other traditional suggestions for picking the trending pairs include following the liquidity and spread parameters. However, the forex market abounds in liquidity, and many trending pairs are highly liquid. Other pairs, except for very exotic ones, do not fall far behind. So, liquidity is not the best clue for selection. Spreads in the forex market are also reasonable, because of liquidity and volumes of trades.
The most viable solution is to explore the price movement trends and pick the pairs that demonstrate the strongest and the most profitable trends. If you know the major currency pairs, commodity block pairs, and some pairs that are widely popular and liquid, you can analyze their behavior over various timespans and pick the best forex pairs to trade that match your vision and expectations.
Some pairs may seem obvious, but some may surprise you. It represents two outstanding global powers, two huge economies when measured on the global scale, plus the high level of innovation and technological excellence that underlies those economies. Japan is technologically advanced, but its big influence in the financial markets also plays a role. It hosts the Tokyo Foreign Exchange, one of the pillars of the global forex landscape, and this fact cannot but positively impact the Japanese yen.
However, the financial tradition lets Great Britain hold the upper hand. The UK was the first country to establish and develop elaborate markets of capital along with the stock exchanges, and American exchanges were modeled after the British ones. The combination of these facts, plus the special fiscal position the UK entertained in the Eurozone until the exit from it, secured a place for GBP among the major forex pairs.
Swiss franc holds its place among the major pairs because of the impeccable Swiss financial system and scrupulousness that makes it the epitome of the best financial practices. Even today this franc is considered a good choice for protecting your investment against financial turmoil big and small.
However, the yuan sometimes named renminbi interchangeably is closely controlled by the centralized financial system of China and its price is not free-floating. Moreover, the yuan is not freely traded at forex markets, and only very few platforms offer such currency pairs to trade with very big leverage and level of risk.
Finally, investors cannot buy yuan directly and hold it; rather, they can either purchase its investment equivalent in US dollars that will be denominated in yuan, buy yuan-based ETFs, or deal in futures. Commodity Block Currencies and What They Represent When we move on to listing specific currencies that are trending today, you will see that some currencies do not stand for big economies.
Rather, they stand for unique commodities or resources their economies supply. So the trends for these currency pairs will be influenced by the prices of the specific commodity or commodities , and supply and demand on the global markets. Australia is a renowned exporter of precious metals, and gold in particular. When the global price of gold in US dollars rallied for two consecutive years, AUD featured a very strong uptrend, too. New Zealand exports a wide variety of commodities, from dairy, meat, and wool to wood and metals.
This can be used to capture large movements spikes with well-placed take-profit orders. This conclusion along with the one above also seems to be very reliable as the currency pairs lead not only by mean but also the median values. Whether expecting the high median values to hold for pairs that had them high during the previous 5 years is a good idea is another unanswered question. However, it should be noted that the latter usually involves lower spreads.
Important note: Past performance is not an indication of future performance. This means that it might be impractical to base actual trading on expectations of the trending behavior to remain the same as they were during the studied period. Script And now to the most important stuff — a MetaTrader script that can be used to get the same data that is presented in this guide and even more.
You need to compile TrendStats. The script, when run on any chart, will analyze a list of currency pairs given via input parameters on a range of timeframes also given via input parameters and on a given time period also changeable via input parameters. It will produce. Here is the list of input parameters for the script: Symbols — a list of currency pairs and other trading instruments you want to analyze. Enter them as they are listed in your Market Watch window. You can use space, comma, or semicolon to separate them.
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