What are the best Currency Pairs to make more profit in Forex without losing?
Compliment of the season everyone and i wish you a happy new year 2022. This year, we have put many information together that will favor everyone in doing business online and earning more this new year. In the early period of the year, we will be posting on the best business to start this year but this time, we are on forex and we will also be taking it slow so you can comprehend everything we are sharing.
Since we know that forex is one of the fastest way to make money on the internet but you should also know that forex is the most delicate online business you can do. You can lose all your money fast or you gain so much within a short period.
So, if you are new to forex or you have been contemplating on the best currency pair start work with in this new year that won’t make you lose so much, i will say;
1. GBP-USD: This pair is one of the most traded in forex which makes you more profit without losing so much. This currency is GBP dominated but the price action at that time, the trend or the movement of chart determines if you are going to be losing or gaining. So, this pair should be one of your preferred at this time.
2. EUR-USD: This pair is also traded by many traders all over the world. The movement and price seems considerate but you need to be careful as well. You need to use all your ideas, analysis and tools to trade this.
3. XAUUSD: Gold is the most delicate and volatile. Its margin is wide, spread is wide and movement seems very fast as well. To trade Gold, You also need to use all your analysis and ideas on this. Better still, use the smallest lot size on Gold or you practice more on gold using your demo account.
4. USD-CAD: This is pair between us dollars and Canadian dollars which is also a good and fast growing economy in the world. In this year 2022, you should make it a point to make this pair a choice this year.
5. AUD-USD: This is pair between Australian dollars and US dollars which is also a good and fast growing economy in the world. In this year 2022, you should make it a point to make this pair a choice this year 2022.
6. GBP-CAD: This is a currency pair between Great Britain Pounds and Canadian dollars which is also a good and fast growing economy in the world. In this year 2022, you should make it a point to make this pair a choice this year 2022.
7. EUR-GBP: This is a currency pair between EURO and Pounds. It’s a good pair combination with good result in 2021 and I believe 2022 won’t be an exemption. Although this pair can be very tricky and that is why you need the forex news factory to see possible changes in the news so that you don’t get caught up in the trade.
8. EUR-CAD: This is a common currency pair between Euros and Canadian dollars. It tells the movement of trade between euro and Canadian dollars. This one of the best currency pairs to make more Profit in Forex without losing so much.
9. AUD-CAD; this is a currency pair between Australian dollars and Canadian dollars. This also one of my best pairs but make sure i watch carefully to study where the market goes and how you can make some money from it.
10. GBP-JPY: This is a currency pair between Pounds and Japanese Yen. It’s also one of the currency pair I will you check. Its spread and margin seem high but not as much as gold. It has a boom market and the participation is usually high since it’s a commonly traded pair between the English and Japanese. If the market favors the GBP, then you buy when it seems the other way, then you go for sell.
11. USD-JPY: This is a currency pair between us dollars and Japanese yen. Just like GBPJPY, USDJPY is a also a good and recommended currency you can look into to trade with. It’s also commonly traded pair with good result at the end of the day.
12. USD-CHF: This is a currency pair between US Dollars Swiss Franc. This currency pair seems good but you will enjoy if you read the news to know what is really happening between those pair.
13. CADJPY: This is on my favorite pair i trade with because of its volume. The volume for this pair is usually low and not really that much with considerable margin.
14. EUR-JPY: This is also a good currency that is mostly traded with lot of profits.
Check all these pair, run a demo account to see the actually rate that is involved and the performance of these pairs in the market. Some traders prefer to stick to one currency like i have a friend who only trade metals like Gold only. He’s good in that area but I don’t take that as a good idea because we all need to be vast in this forex trading strategies. Many experts will tell you to stick with one currency but i really don’t get along with that because i prefer to explore other opportunities and currencies.
Please feel free to share your best currency pair so we all can learn and if you have any question concerning this, it is welcomed. Thanks for reading.