In the previous chapter we have talked more about pips and spreads and how they differ in pairs. Now it is important to say something about most frequently traded Forex pairs, or so called major. The four forex pairs which are considered to be the most heavily traded in the forex market. The four major pairs are: EUR/USD, USD/JPY, GBP/USD, USD/CHF. To this list some add USD/CAD and AUD/USD, but these pairs can be found in the list of so called ''commodity pairs''. 

Among these pairs the most popular one is EUR/USD around which almost 70% of forex transaction is focused. However, if we take a look at what is the most popular pair among personal Forex traders we can find out that it is actually GBP/JPY due to its volatility and because it is strong and sharp with large movements occurring.  GBP/JPY is also example of so called cross currency pairs. Cross currency pairs are those pairs that do not include US dollar. So, on foreign exchange currency can be traded without having it to exchange it to US dollar first. 
Besides, major Forex pairs there are so called minor pairs or exotic pairs. Example of these pairs would be USD/SEK (Swedish krona), USD/DKK (Danish krone) and USD/NOK (Norwegian krone),  USD/RUB (Russian Ruble), USD/HKD (Hong Kong Dollar), USD/MXN (Mexican Pesos), USD/ZAR (South African Rand), and so on. These pairs have pip value which is much smaller than the other currency pairs like EUR/USD.  When you first trade these pairs you will notice that your stop loss ot take profit value can  have a several hundreds of pips value. However, those pips are not like the ones your see in other currency pairs, since they are about 1/10 of the value of the normal pips. 
In the end there is a list of pairs that almost all brokers support.  
Take profit and Stop Loss are themese to be covered in the next chapter dealing with what affects Forex prices.

Last modified on Saturday, 01 April 2017

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