Hi i started learning about forex trading 3-4 months ago but i don’t really know the currency pairs, i should focus on when carrying out my analysis
Usually, EURUSD and GBPUSD are the best to start off. Always have a good plan for the strategy.
order follows the preference from top to down.
I am a beginner and after 3 months i have settled for Gold (XAUUSD).
I slowly get a feeling for it and when it goes nuts you can make good money.
For me EURUSD hands down as it so closely ties to the DXY.
I really like this pair too. Much tamer than GU and can use DXY
I also think EURUSD is the safest option and probably the best for a beginner trader.
DXY is an index for currencies, how’s the liquidity?
Yes the Dollar Index. It’s fine but I don’t trade it per se as use it to guage USD strength which ties in almost as a perfect inverse correlation to EU. Allows me to spot divergence and acts as a nice confluence.
EURUSD, GBPUSD, USDJPY, AUDUSD are the most traded currency pairs in forex markets. As a beginner, these are the best currency pairs to learn on.
Those are the staples of most traders
I like EUR USD ever since
Can anyone advise about GBP/USD? it seems bullish next resistance @1.3800?