Forex Currency Pairs – Free Forex trading course for beginners – Part 5
Trading with Forex currency pairs can be annoying in the first because there are many pairs in the market and you do not know which one you should monitor and start with. For that I will make it easy for you and I will tell you the major pairs in the Forex world, but first let me remember you that in Forex world you trade in pairs which mean you buy one currency and sell another; like you buy USD and sell EUR.
The major and the most common currency pairs in the Forex world are:-
- USD/JPY.
- USD/CHF.
- USD/CAD.
- GBP/USD.
- EUR/USD.
- AUD/USD.
Here is the meaning of the previous abbreviations if you do not know it:-
- USD = US Dollar.
- EUR = Euro.
- JPY = Japanese Yen.
- CHF = Swiss Franc.
- CAD = Canadian Dollar.
- GBP = British Pound.
- AUD = Australian Dollar.
Also there are some exotics currency pairs in the market; for example:-
- NZD/USD.
- GBP/JPY.
- EUR/GBP.
You should not play with this pairs in the start and you should only focusing in the major currency pairs, but after you became a Forex expert then you should test these pairs because it could be profitable.
Again You should focus in the previous major six pairs in the start and after you become an advanced Forex user you should test the other pairs. Also you will learn in this course how to choose the best pairs every moment by monitor the Forex charts, rates and signals. Do not worry you will learn everything soon in this course.
In the next post you will know what you need to start trading at Forex including your computer and Internet configuration so make sure you have the right equipment before you start.
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