Which Forex pairs trend the most?
Forex currency pairs are classified as majors, minors, and exotics.
Major currency pairs are made up of the most frequently traded currencies, which are:
USD — The US Dollar
EUR — The Euro
JPY — The Japanese Yen
GBP — The British Pound
CHF — The Swiss Franc
CAD — The Canadian Dollar
AUD — The Australian Dollar
NZD — The New Zealand Dollar
A Major Currency pair is one that contains any one of these currencies paired against the US dollar, such as the EUR/USD, USDJPY or the GBPUSD.
Forex Minors Currency pairs made up of these major currencies that don’t include the US dollar. These pairs include EURGBP, EURCHF, AUDNZD, and so on.
Finally, Exotic Currencies are any currencies that we haven’t already mentioned, such as the Hong Kong Dollar (HKD), the Norwegian Krone (NOK), the South African Rand (ZAR) and the Thai Baht (THB). Exotic pairs include one exotic currency and one major currency.
When learning about Forex trading, many beginners tend to focus on major currency pairs because of their daily volatility and tight spreads. However, there are many other opportunities — from exotic FX pairs to CFD trading opportunities on stocks, commodities, energy futures, to indices.