Forex trading is all about buying and selling currencies in pairs. The Forex market has a huge volume of the world’s trade, with over 200 countries in the world, people participating every day to find a handful number of currency pairs to engage with trading. Being open at all times of the day, imparting a place for the exchange of different currencies around the world.
All these currency pairs do not have the potential to convey the best result to traders. So what are the hottest Forex pairs to do trade in 2019? What currency pair is worth trading and why?
Before exploring the best currency trading pairs, it is better to groom the knowledge on the most accepted currencies that can be found in the world of Forex trading. They contain:
1. US Dollar (USD)
2. The British Pound (GBP)
3. Japanese Yen (JPY)
4. Euro (EUR)
5. The Australian Dollar (AUD)
6. Canadian Dollar (CAD)
How to Find the Best Currency Pairs?
The forex exchange market is corresponding to the other trades like the commodity, futures and stock markets. Here we are presenting the short description of Forex tips to find the currency pairs-
Forex market is operated by some catalysts commonly known as the ‘lead indicators’. The prime indicator to check is the US Dollar Index (DXC). This index measures the value of the US dollar relative to a basket of currencies of the US most significant trading partners. If US DXC is rallying, pairs such as USD/JPY, USD/SEK, USD/CHF, will rally in company with it. Meanwhile, EUR/USD, GBP/USD, NZD/USD and AUD/USD & will sell-off.
Let have an analysis of popular currency pairs out of these currencies which would be fruitful to achieve great success in Forex trading in 2019 –
Best Currency Pairs to Trade
This can be considered the Hottest Forex Pairs of 2019. This currency pair is integrated with basic technical analysis. The most important characteristic of this pair is not too volatile. The advantages of trading this pair are universal which incorporates the high levels of liquidity for the currencies, which helps in the favorable execution of transactions. It also has a quality number of liquid derivatives which legalize traders to trade in the spot market and in derivatives such as; futures, options, and CFDs. If you are not in a position to take any risk, you can pick this as your best Forex pair to trade, without it causing you too much doubt about risk in your mind.
USD/GBP states for 12% of the total trading volumes in the foreign exchange market and is extremely volatile and unstable. It is high margin pips and possible huge leaps have contributed a lot towards the marketable of this currency pair. But keep in mind that higher profits come along with greater risk. It is mainly for professional traders but due to its high volatility, it allowed traders to gain profits in a short period of time. That’s why many traders prefer to choose this pair as best currency pair to trade since they can find numerous market analysis information.
This currency pair is one of the loved currency pairs traded in Asian markets in the world of Forex trading. It is related to low spreads, accounting for 17% of all transactions in the global forex market and is responsive to political sentiments between the US and the Far East. The JPY has been moving strongly so long in 2018, against the exhausting dollar. The USD/JPY pair is among the top three most volatile instruments in the international currency market. It also has the probability to deliver exciting profitable opportunities for traders.
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