The Forex market is the most popular, biggest, and most important financial market in the world. It gives traders the ability to swap any currency pairs. As a trader, you can open and close positions at any given moment, thanks to the Forex market calendar. It sounds pretty easy, technically. There are, though, a couple of things to consider while trading and one of them is which currency pairs to concentrate on. Those are the top three currency pairs to keep an eye on!
One of the most lucrative and common currency pairs at this moment is the so-called “Gopher.” This mix involves the US dollar and the Japanese yen. One of the key reasons why this duo is so famous is the powerful presence of the dollar in the US and the yen in Asia. It is also a combination with very high liquidity.
This implies that traders can either purchase or sell (or both) this currency combination in very large volumes without significant price volatility. In addition, the USD/JPY pair has a very tight price range, which ensures that trading risks are greatly reduced.
The euro and the US dollar make up the pair called “The Fiber.” It is the most exchanged pair, considering the importance of the two currencies. As before, the liquidity is very strong and the spreads are very low. In addition, traders can position vast trade volumes. So, if you want to earn better and more often than not, this pair is the one for you.
The third commodity combination to look at is “The Cable.” The US dollar and the British pound are common currencies, but the pair is seen to be very unpredictable. To a degree, this can be helpful when it comes to greater profits, but the losses can still be high. Day traders typically rely on this currency pair which is also great for swing trading.
AlphaFXC is an online broker focused on the currency market. Generating alpha in the Forex markets is not an easy job but it can be done using the right approach. The high uncertainty in foreign-exchange markets has made them tempting to speculators for many years. AlphaFXC can offer the necessary guidance when it comes to efficient Forex, crypto, and CFD trading, among others. Visit the official website for even more information on how to get started on your trading journey.