Finance

Major Currency Pairs in Forex Trading 5/5 (1)

By  | 

Please rate this Article!

So today we are going to discuss the major or primary currency pairs in the Forex market, I hope you will enjoy reading this article J. There are Six Major Currencies in the Foreign Exchange Market. Major Currencies are based on USD (United States Dollar). For your kind information, all the currencies in the Forex market have its own code for the recognition and if we make a set of two currencies, we call it to pair and every pair has its own exchange rate depending upon the value of the currencies.

1- EUR/USD

The EUR/USD is one of the major currencies having the largest number of traders. Most of the traders like to do trading on EUR/USD because the spread of this currency pair is less as compared to other pairs. Its volatility is also high depending on market conditions or news. Trading on EUR/USD is not a piece of cake. Trading on EUR/USD pair is quite tough as compared to other pairs because it has a high volume of traders.

Information

Country             Europe and United States of America

Currency            Euro against United States Dollar

Volatility             High

Volume              High

Spread                Low

2- GBP/USD

GBP/USD also comes in major currencies. After EUR/USD, I prefer to do trading in GBP/USD provided that you wish to do trading in other currencies beside EUR/USD. If we talk about the volatility, this pair has high volatility, but the volume of this pair is less than EUR/USD. This pair is also known as sterling pound or cable.

Information

Country             United Kingdom and the United States of America

Currency            Great Britain Pound against United States Dollar

Volatility             High

Volume              High

Spread                Low

3- USD/JPY

Did you know? USD/JPY is the combination of the two most traded currencies. 
After USD and the Euro, the Japanese Yen is the most traded currency in the world. The Yen is three decimal currency pair and the pip value of this pair is low. It is also one of the most stable currencies available in the Forex market.

Information

Country             Japan and United States of America

Currency            Japanese Yen against United States Dollar

Volatility             High

Volume              High

Spread                Low

4- USD/CHF

USD/CHF is one of the primary pairs having the United States Dollar and Swiss Franc. The Switzerland currency known as Franc and the nickname for this currency is Swissy. It’s one of the volatile currency pairs in the Forex market, but the volume of the pair is moderate.

Information

Country             Switzerland and United States of America

Currency            Swiss Franc against United States Dollar

Volatility             High

Volume              Moderate

Spread                Low

5- NZD/USD

NZD/USD pair is the combination of the New Zealand Dollar and United States Dollar. The New Zealand Dollar also named as the kiwi, we are aware of the kiwi fruit from New Zealand Jdelicious kiwis! We can include kiwi in major currency pairs. The movement of the kiwi is not high, but it got good stability. The overall movement is market dependent. It is a good pair to trade.

Information

Country             New Zealand and United States of America

Currency            New ZealandDollar against United StatesDollar

Volatility             Moderate

Volume              Moderate

Spread                Moderate

6- USD/CAD

USD/CAD pair is a combination of two dollars. The Canadian Dollar has its own value in the world which is the competitor of the US Dollar. We have seen a lot of volatility in this pair while the opening of the market. There is not much difference in conversion rates of both the currencies. It’s not a bad choice to trade on this pair either.

Information

Country             Canada and United States of America

Currency            Canadian Dollar against United StatesDollar

Volatility             High

Volume              Moderate

Spread                Low


Leave a Reply

Your email address will not be published. Required fields are marked *