Forex Trades Round the Clock, 5 Days a Week
Traders have the privilege of high leverage trading with lower margin needs as compared to stock marketplaces. Yet prior your venture into trading FX, you have to comprehend the currency pairs that are most traded. Below is a rundown of the top 6 most tradeable currency pairs in foreign exchanges.
The EURUSD currency pair seems to hold a negative USDCHF relation and a positive GBPUSD relation. This occurs because of the robust link between the EUR, the GBP, and the franc as Switzerland’s currency.
USDJPY: dealing in the “Gopher”
Conventionally, the following most traded pair is USDJPY. This was subject of vulnerability to the political tension amid the States and Japan. The pair seems to be positively associated with the USDCHF and USDCAD currency pairs seeing how the USD is the base currency in those 3 pairs.
GBPUSD: “Cable” trading
The GBPUSD pair seems to half a negative association with USDCHF, as well as a positive one with EURUSD. This is because of the robust relation amid the GBP, the Swiss franc and the EUR.
USDCAD: dealing in the “Loonie”
The USDCAD currency pair appears to be negatively associated with the AUDUSD, GBPUSD, and EURUSD pairs seeing how the US D is the quota currency in the other pairs.
USDCHF: “Swissie” trading
The USDCHF currency pair seems to hold a negative association with the EURUSD and GBPUSD pairs. That’s because of the fact there is a positive relationship among the Swiss franc, the GBP and the EUR. The franc was for a while considered a safe move for FX traders in periods of geopolitical tensions.
AUDUSD: “Aussie” trade
The AUDUSD currency pair seems to hold a negative association with the USDCAD, USDCHF, and USDJPY pairs because of the US dollar holding the title of the quota currency in such situations. The USDCAD correlation is also due to the detail that the Canadian and Australian dollars have a positive association with one another as they are commodity block currencies.