What's your favourite currency pairs to trade?

i’m curious, Pauley (and hope you don’t mind being asked): why those two? is it partly because of the obvious inverse correlation, in that the USD is the base currency of one and the quote currency of the other?

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I’ve chosen these as they’re both major pairs with E/D being the most traded and U/J being high in the trading ranking and it’s not correlated (I believe) directly with the E/D

they are about 80% correlated!

inversely correlated, clearly, as the USD is the base currency of one and the quote currency of the other, but that’s still very strongly correlated - which was why i asked (i thought possibly you might not quite have appreciated the significance of this)

i am trying to help, not to criticise! :slight_smile:

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No worries, it’s good to hear this info from more experienced traders. Everything is a learning curve for me right now.

What major currency pair would you recommend that isn’t so strongly correlated to EURO/USD?

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the least correlated with EUR/USD must be GBP/JPY and AUD/CAD

GBP/JPY is a pretty wild ride, though!

i would therefore suggest AUD/CAD :slight_smile:

(i think you’re right to make EUR/USD first choice)

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Generally speaking any currency pairs that share a currency between them (EUR/USD and USD/JPY) are likely to be highly correlated.

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I choose loyalty :joy: but as a part-time trader, I find that EUR/USD is the best option for me due to its stability.

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Nice roadmap! Wish you good luck and all the bests Pauley!

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i also use EUR/USD. the spread on BTC is a bit high but i like this too.

Does seem that most traders are favouring EUR/USD. But I would think BTC is a bit risky, but has been super bullish these last few weeks. I’ve got a grid order scalping strategy running on Binance for BTC.

My favorite currency pair is EUR/USD." This pair is one of the most popular and heavily traded currency pairs in the world, which makes it a great choice for traders looking for liquidity and volatility. Additionally, the EUR/USD pair is influenced by a variety of economic factors, such as interest rate differentials, political events, and economic data releases, which provides traders with plenty of opportunities to profit from market movements.