5 Hugely Traded Currency Pairs in 2021

[skrimon]

If you are familiar with forex trading, you are good with currencies also. Foreign exchange currencies are those currencies who are you used to trade with. So, today we will discuss those are currencies that are hugely traded in the market. Let's dive in it--

• USD/JPY​​

“The Gopher” is a combination of the US dollar and the Japanese yen. It is one of the most popular forex pairs in the world due to the prominence of the JPY throughout Asia and the USD worldwide. It boasts high liquidity, meaning that traders can buy and sell the currency pair in large volumes without the price fluctuating too much in its exchange rate. It also has one of the tightest spreads in the forex market, reducing the overall costs of the trade.

• EUR/USD​​

“The Fiber” is a combination of the Euro and the US dollar. This is generally considered the most traded currency pair as it stems from two of the world’s largest and most reputable economies. Similar to the USD/JPY, this currency pair is associated with very low spreads, high liquidity, and the ability to place large volumes of trade. This combination can be seen as one of the best currency pairs for forex scalping​​, as the markets are mostly stable throughout the year, therefore, it is perhaps one of the most profitable currency pairs in terms of smaller and more frequent earnings.

• GBP/USD​

“The Cable” is a combination of the British pound sterling and the US dollar. This is seen as a particularly volatile currency pair, due to its frequent fluctuations in price, exchange rate, and pip movements. This can result in large profits if the trader is successful, however, it can result in equally great losses when market volatility is at a high. The GBP/USD is particularly favored by day traders​, who aim to take advantage of price fluctuations by dipping in and out of the market at a quick and precise pace. For this reason, it is also one of the best forex pairs for swing trading​, another short-term forex strategy. It is recommended that those who trade these volatile currency pairs strengthen their knowledge of technical analysis of the market before opening any positions.

• EUR/GBP​​

“The Chunnel” is a combination of the Euro and the British pound sterling, a play on words for the Channel Tunnel that connects both continents. This currency pair is typically seen as very strong, given the proximity of regions and their solid history of trade. Given the situation of Brexit on the economy, the forex pair has become more volatile in recent years, which can be very attractive for skilled traders. The exchange rate also relies on changes to interest rates that are announced by regional banks, therefore, one currency can suddenly strengthen against the other, making the pair much more volatile. This also applies to the other currency pairs on this list.

• USD/CHF​​

“The Swissie” is a combination of the US dollar and the Swiss franc. For many years, the financial stability of Switzerland has been used as a ‘safe haven’ for investors of the forex market, who will rely on trading the CHF in times of market volatility. Therefore, this is a popular forex pair for traders when the economic or political situation of a region is uncertain. As the value of the CHF strengthens against the USD due to increasing investment, the price of this currency pair starts to drop. Although it is one of the most stable currency pairs to trade and therefore offers many benefits. However, when the markets are in a more stable position, the USD/CHF may be of less interest to traders who opt for other major currency pairs that are featured on this list.

If you notice carefully then you will see that I listed the whole thing numerically. The first one is the highest and last one the is the lowest of all them. But choosing the right currency pair is not going to get the consistent profit. That's why you need to learn how to jump in it and catches profit. I know, Pipshunt is really good at their service. You can try their free-market prediction as well. I hope, it's good with you.

Thanks a vast!

[Baz Dent]

It will inspire you to do better down the road. Never lose your hope and try to recover your losses by undertaking appropriate measures.

[maspluto]

The selection of the existing broker must be able to be considered properly, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill.