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https://traderoomplus.com/s/yttrial We're often asked, 'What are the best Forex pairs to trade and why?' In this concise video, we answer those questions by looking at the best Forex pairs to trades and why. It'll provide you with three pairs which to learn to trade and also the most relevant news and events to look at. The Forex market is the most liquid market in the world with other 5 trillion $ traded per day.
This video is best for:
Beginners looking to learn about profitable Forex trading,
Traders deciding which Forex / currency pairs to trade,
Traders wanting to understand what moves the Forex markets,
Forex traders looking for help,
Contents:
- Why people trade Forex,
- The major world currencies,
- Forex basics,
- What moves Forex markets?
- EUR/USD,
- USD/JPY,
- GBP/USD (Cable),
- Conclusions.
We will teach you how to spread bet and trade with profitable trading strategies. We trade Forex, indices, stocks and equities in our live day trading room.
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http://traderoomplus.com/offers/By the end of this video, you’ll know which are the 3 best currency pairs to trade and what the most important things are which cause volatility in the currency markets.
There are many pairs of currencies to choose from as you can see here. With many markets, comes many opportunities.
The Forex markets are nearly open 24 hours per day from Sunday evening to Friday night.
Because the markets are nearly continuously open, it allows a trader to focus upon currency pairs which suit their own personal circumstances and work / life balance.
There are different economic drivers for different currency pairs. For example if you like to trade commodities like oil, you may like currency pairs which are linked to oil trading.
Forex pairs are highly technical in nature and favoured by technical analysts. If you need to know more about technical analysis, click here to see our video on the best technical indicators for trading. These are the four major world currencies, the Pound, the US Dollar, the Euro and the Japanese Yen. You should always aim to trade currency pairs which has one of these currencies within them. Some basics:
Forex and Currency trading are used interchangeably and mean the same thing.
The currency displayed on the left is the ‘base currency’. So if you see this pair, with the Pound on the left and the US Dollar on the right – the currency pair known as ‘cable’ – you now the base currency is the pound. The currency on the right is called the ‘counter currency’.
What you are betting on is whether or not the base currency will strengthen, or weaken, against the counter currency. For example, if you think the Pound will strengthen against the US Dollar and increase in value, then you would go long. What moves the Forex markets? It depends on which pair you’re looking at.
The top 5 we recommend are primarily concerned with the activities of the major central banks. Central banks control monetary policy, affect inflation and employment and set interest rates.
The Federal reserve in the United States has major influence over currency pairs involving the US Dollar. FOMC meetings are held 8 times per year and particular focus is upon interest rate policy. Make sure you know when these meetings occur.
The Bank Of England is the central bank based in London. Meetings are regular and inflation rates are especially important to the Bank Of England as it sets an annual benchmark and target to keep inflation at a set figure. Deviations away from this figure can trigger intervention including interest rate rises and falls which cause volatility for currency pairs with Pound within them.
The bank of Japan meets around 12 times per year and carries out many of the same functions as the other central banks we have mentioned. Anyone based in the UK or Europe should take note of when the meetings will occur and consider their trades and exposure if they are trading any currency pair containing the Yen.
The top 3 pairs we like to look for opportunities upon are the currency pairs that are traded the most. There’s a reason they are traded the most, because they are the best to trade.
With them being traded the most, it means they are the most liquid, meaning less risk of big gaps and not being filled by your broker, and you will also receive a tighter spread with your broker.
The pairs offer near 24/7 trading and there are key events most traders can be around for, including the FTSE and European open, as well as the US open and close.
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