Easiest Currency Pair To Trade – Today you will learn about the best forex pairs to trade with IQ Option. The currency exchange market, forex, has become very popular. It offers great opportunities as it is open for a longer period of time than conventional markets. The reason for this is the time difference. So, for those who work during normal business hours, this can be an option. But this is not the only good reason to choose Forex. There are many currency pairs that you can trade and here we will discuss the 6 best forex pairs that can be traded.
You should have a general understanding of the basic concepts related to Forex. Basically, you are exchanging one currency for another. And so we have, for example, capital. Your base amount will be the amount you hold before starting the business.
Easiest Currency Pair To Trade
Then we receive the request and ask the prices. The price is the price you get for the money you sell, or in other words, the market buys it from you. The asking price is what you get when you buy, so it’s the price the market will sell the money for.
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There is also a spread, which is nothing but a difference between the two, request and ask. Referrals usually make a commission that sellers receive when they complete a transaction.
Pushing is a unique tool that not only helps people get into the game, but can increase profits significantly. It increases the power of the invested quote. So if you put $1 into a business and make a profit of 100, you will have $100 invested. It also makes the market accessible to those who don’t have a lot of money to start with. But be careful here because the lever works both ways. It can increase not only your profit but also your loss. If you want to learn more about forex leverage, read our article about forex trading on the IQ Option platform.
We have selected the top 6 funds based on historical data and their popularity among traders. You will find EURUSD, USDJPY, USDCAD, GBPUSD, USDCHF and AUDUSD listed.
The conversion of the US Dollar to the Euro is the most popular in Forex. The Euro is the currency of the European Union, although not all members have officially adopted it. There are 19 countries that use the euro as their official currency. These are Austria, Belgium, Cyprus, Estonia, France, Finland, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
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The EURUSD pair will be influenced by events affecting the dollar or the euro. Make sure you follow the news.
The Eurodollar is the world’s most traded currency as well as a liquid financial instrument. See the picture below. I have prepared it based on BIS report on foreign exchange market performance.
The chart shows us the advantage of the Euro-Dollar over other currency pairs. Our best trading funds account for 24% of the forex market’s sales!
The exchange rate of the euro depends on many factors. Interest rates set by the European Central Bank and the Federal Reserve play a major role. It is true that there are several other reasons as well. In the EURUSD market, even very large transactions do not cause price movements. This is the reason for the huge change in money and currency that is produced there.
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JPY (Japanese yen) is the official currency of Japan. It has a long history. Its value dropped after World War II, but stabilized after the 1973 oil crisis. The government is very careful to keep the value of the yen stable, so the exchange rate is under of control. The yen is known as a reserve currency (along with the US dollar, EUR and GBP).
CAD is one dollar from the United States’ neighbor, Canada. The value of both currencies is closely related. Also, CAD is heavily influenced by the price of oil, so if you want to sell the Canadian dollar, follow them.
The United Kingdom was a member of the European Union until 2016, but has not changed its currency from the British Pound Sterling (GBP). And while the GBP is still one of the most traded currencies (only after the US dollar and the Euro), it lost a lot, first during the Great Recession and second during Brexit .
Number 5 is the conversion of US dollars to Swiss francs, the official currency of Switzerland. The CHF is known as a “safe haven” currency because it does not behave like other currencies during times of great volatility. On the other hand, its value rises when some currencies fall and falls when others rise in value. (JPY is the second “safe haven” currency, but not to this extent).
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Our last currency comes from Australia and is the Australian dollar. Australia’s economy is closely related to Canada’s, so the value of their currencies is also closely related. Also, remember that Australia is one of the largest exporters of coal and iron ore in the world, so keep an eye on the prices of these products.
There are many firms that allow you to trade forex. As IQ Option fans, we strongly encourage you to trade on this platform. Not without reason, of course. In addition to regular profit trading, IQ Option offers other trading tools. Here you can trade using digital and binary options on popular currency pairs. In short, options allow you to profit by taking into account the direction of the price at the time you make your decision.
If your statement is correct, you can get up to 80-90% of what you invested in the business. Of course, you can also lose your deposit.
IQ Option allows you to trade with a demo account. Before you decide to invest real money, you should try the financial instruments available on the site. It is also a good way to familiarize yourself with the platform and the tools available.
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It is not possible to sell the entire currency market at the same time by selling all available currency pairs. It is recommended to focus on a few major currency pairs. It is important to be familiar with their characteristics, uncertainty and macroeconomic events related to them. Being able to track price behavior and spot recurring patterns can give you an advantage over other market participants. Below we answer some questions we come across when discussing the best forex pairs to trade.
Unfortunately, there is no such thing as profitable currency pairs. Regardless of which currency you choose, your trade can result in a profit or a loss. You may find that EURUSD is a very profitable pair. Is this correct? Well, it all depends on your strategy and ability to execute it. Without a doubt, EURUSD is the pair with the highest trading value. It’s also a pair where it’s relatively easy to build an effective mechanical strategy. You also know that we think EURUSD is the best to trade.
I don’t know any trader who doesn’t follow the EURUSD currency pair. Perhaps this is why support and resistance levels, trend lines and classic types of technical analysis work so well in this financial context. It is also often possible to save good candlestick patterns in Euro-Dollar.
PRO TIP: If you have a strategy and want to use it in the forex market, test it first with different currency pairs. Different currency pairs have different volatility and chart behavior. A strategy that works on EURUSD may not work well on GBPUSD or yen pairs.
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For me and for many, the first issue is the EURUSD. I think this is the easiest pair to trade with lows and highs. The EURUSD price is very good at holding support and resistance levels and common moving averages such as the SMA200. The EURUSD market is most active in the London and New York sessions, which allow almost intraday trading, although it is clear that the best moves are made in the aforementioned trading sessions.
The volatility of currency pairs is not constant. It depends on many macroeconomic factors, world events and financial market sentiment. EURUSD is generally considered average but has good stability. A pair with relatively high volatility, for example, GBPJPY. If you care about the high power of price changes, two pounds with yen will give you that. But remember that high volatility does not mean high profits. More instability means more movement. Big moves can lead to bigger profits, but also bigger losses.
The currency pairs we talked about today are the most popular and account for most of the trading volume in the forex market. These are also the best iqforex pairs to trade for beginners. It is recommended to follow this basic amount
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