Forex Fastest Moving Currency Pair
Trading at Forex usually involves a pair. Now there are majors and minors. The Forex majors are Euro (EUR), US dollar (USD), British Pound (GBP), Swiss Franc (CHF), Japanese Yen (JPY), Australian dollar (AUD) and Canadian dollar (CAD). |
You can put two currencies against one and form a pair. For instance, USD/EUR will be considered as a pair. Once you understand the nitty-gritty of this market you will realize the most potential pair and the dooming one.
Interestingly, EUR/USD is among the most prominent and commonly preferred pairs. According to traders this pair accounted for nearly 28% of the daily trading activity volume wise in 2004. However, it does not always imply that it will be the fastest moving one also. GBP/JPY is the fastest moving currency pair at the moment. The wave range moves faster and is longer with hash mark constantly leading upwards.
The next in line is USD/JPY. This has also been among the most responsive pairs till date. The main reason for this is the trading activities carried between both the nations. Both are kind of interdependent on each other. Although recently China has joined the Asian Forex market and is constantly trying to oust power Japan. Traders of Forex market would agree that different pairs trade in precisely different technique and trend. If today EUR/USD or USD/JPY tops the chart and moves faster than any other pair, it would be difficult to predict till when it can maintain the position. However, they would certainly perform better than the minors.
More Articles :
|
