The Best Forex Currency Pairs to trade on SuperForex MT4

By opening an account with SuperForex, you can invest in about 100 Forex currency pairs through the most popular trading platform, MT4.

You opened an account, made a deposit and logged in, and now, do you know which Forex currency pair to trade?

In this article, we will introduce you the most popular Forex currency pairs to trade on SuperForex MT4, and their characteristics that you should know.

1. EUR/USD (Euro vs US Dollar)

EURUSD is the most popular currency pair representing the world’s two largest economies. The euro is the official currency of the euro area and is the primary medium for international transactions. Being the most traded currency pair in the world, EURUSD represents most of the Forex market. Interest rate inequality set by the US Federal Reserve and the European Central Bank affects the value of EUR / USD currency pairs. Other factors that affect the value of currency pairs are employment, GDP, consumer price index, manufacturer price index, retail and trade balance.

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2. GBPUSD (British Pound vs US Dollar)

GBPUSD is an abbreviation for the pound sterling and US dollar currency pair, a popular pair known as the cable. It is one of the oldest traded currency pairs used to understand how much US dollars are needed to buy a pound. The most traded currency pairs (fourth in the foreign exchange market) and the most circulated cash traded against the US dollar are considered one of the abundant pairs. As a result of its high liquidity, this currency pair allows traders to take advantage of price fluctuations and changes. GBP is affected by external factors that affect the value of individual currencies and therefore fluctuates according to the degree of interest rate differentials set by the UK Bank and the Federal Bank (Fed).

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3. USDCHF (US Dollar vs Swiss Franc)

USDCHF is an abbreviation for US dollar and Swiss franc. Currency pairs are also known as displaying the Swiss franc (quote currency) numbers that Sweezy needs to buy one US dollar (base currency). The Swiss franc is often considered a safe currency due to its tendency towards stability. This is protected from extreme fluctuations in currency rates. This makes USDCHF an ideal choice for traders looking for a more stable investment somewhere in the world, especially during times of high volatility. Due to the positive correlation between the euro, the Swiss franc and the pound sterling, this currency pair tends to have a negative correlation with the EUR / USD and GBP / USD.

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4. USDJPY (US Dollar vs Japanese Yen)

USDJPY is an abbreviation for US dollar and Japanese yen currency pairs. Trading these two is also known as trading a “ gopher gopher”. It is considered as the most actively traded currency pair after EURUSD. Interest rate differentials between the Fed and the Bank of Japan (BoJ) affect the value of USDJPY when compared. Also, the interrelationship between the US and Asian stock markets is a major determinant of exchange rates. This currency pair has a positive interrelationship with USDCFH and USDCAD because the base currency is the US dollar. Also, the currency pair tends to trade with higher volatility throughout all trading hours and has the largest range of traders among major currencies.

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5. NZDUSD (New Zealand Dollar vs US Dollar)

This pair represents the total amount of US dollars (quote currency) required to equalize the value of the New Zealand dollar (base currency). Trading currency pairs is also known as a”kiwi” transaction. Like USD / CAD and AUD / USD, NZDUSD is considered as a commodity currency pair. This means that the current market value of potential commodities will affect the conversion rate of currency pairs. The NZD has benefited in the past from the community boom for the first time in decades, which has caused it to soar in value and force the Reserve Bank of New Zealand to introduce currency devaluation measures in 2012. .. NZDUSD is also affected by the interest rate differential between the Reserve Bank of New Zealand (RBNZ) and the Fed.

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6. AUDUSD (Australian Dollar vs US Dollar)

AUDUSD is an abbreviation for Australian dollar and US dollar and is also called “Aussie Aussie”. Like the New Zealand dollar and the Canadian dollar, the AUD is a commodity currency, so its value depends primarily on commodity export prices such as mineral products and agricultural crops. The high liquidity of the AUD makes it an attractive option for carry traders looking for a highly profitable currency. Currency pairs are heavily influenced by the Reserve Bank of Australia, the Fed’s interest rate differentials and bank announcements. AUDUSD is one of the most popular currency pairs in the world due to its active trading characteristics in Asia and Pacific trading hours.

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7. USDCAD (US Dollar vs Canadian Dollar)

USDCAD, also known as Loonie Rooney, shows how much Canadian dollars you need to buy one US dollar (base currency). The US dollar and the Canadian dollar are one of the most popular currency pairs in the world. This is due to the condition of cross-border trading activities between the two huge neighbors. The Canadian dollar is a commodity currency and is therefore highly dependent on global crude oil and natural gas prices. While most of the energy commodities flow from Canada and the United States, almost half of Canada’s imports come from the United States, forming a business relationship between the two countries as they have a significant impact on the stability of conversion rates. doing.

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8. AUDCAD (Australian Dollar vs Canadian Dollar)

USDCAD is an abbreviation for the Australian dollar and Canadian dollar currency pairs. It is not generally traded as a major pair, but it is a relatively stable currency pair. Both currencies are considered commodity currencies because they are heavily dependent on commodity exports and are sensitive to a wide range of commodity price trends. Traders should therefore be wary of the commodity index for each country. Another major factor in this currency pair is the strength of the US dollar and the euro, as the strong US dollar spreads the highs of both currencies. Traders need to have an opinion on what the Chinese economy is like, as the economic situation in China has a strong impact on AUDUSD.

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9. AUDCHF (Australian Dollar vs Swiss Franc)

AUDCHF is referred to as a cross currency pair of Australian dollars and Swiss francs. This pair is not considered a major currency pair due to its relatively small bilateral trading volume. This currency pair is not very popular, but it is commonly used by traders as a carry trading strategy. It also shows a great contrast between the economies of the two countries. The Australian dollar is volatile in the commodity cycle, as significant price volatility becomes more sensitive to risk appetite. The Swiss franc, on the other hand, is a more stable currency, so the two offer a great opportunity for traders to profit from fluctuations in the AUD and stability in the CHF.

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10. AUDJPY (Australian Dollar vs Japanese Yen)

AUDJPY is a currency pair of Australian dollars vs. Japanese yen. Known as a cross currency pair in a trading arena that is not associated with the US dollar. It is the 5th most traded currency pair in the foreign exchange market. The Bank of Japan maintains low interest rates by making the Japanese yen a popular “ carry trade” currency over other high interest rate currencies. The Reserve Bank of Australia has set its interest rates fairly high, so traders sell in large quantities in Japanese Yen to invest in Australian dollars. For US equities, this currency pair is one of the most highly relevant pairs for short-term to medium-term price action.

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11. AUDNZD (Australian Dollar vs New Zealand Dollar)

AUDNZD is a minor currency pair that represents the Australian Dollar (AUD) exchange quote against the NZD (NZD). Both currencies represent two economies that are often similarly traded against other currencies due to their geographical proximity and high rollover rates. It is considered as a safe currency pair by traders who want to avoid volatility in the US market and other major currencies. Commodity prices have a direct impact on currency pair exchange rates, as both economies are heavily dependent on natural raw material trading. AUDNZD tends to fall into evasive market conditions for a long time, but has a smooth trend line.

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12. CADCHF (Canadian Dollar vs Swiss Franc)

CADCHF represents the cross between the Canadian dollar and the Swiss franc. These two have important implications for investors as they are major foreign exchange markets and are considered important reserve currencies. Most traders prefer to use this currency pair when they want to trade risk-related currencies against safe currencies. The Canadian dollar is considered as a commodity currency that depends on commodity export prices like crude oil. CHF is a safe currency because it is very stable and has low interest rates. Canada is highly dependent on the United States, while Switzerland is influenced by the EU, which needs to trade CADCHF with an understanding of how the EUR / USD is adjusting.

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13. CADJPY (Canadian Dollar vs Japanese Yen)

CADJPY is a Canadian dollar and Japanese yen exchange quote. Whenever a trader is worried about trading US dollars, CADJPY is sometimes considered a suitable surrogate. Although both currencies are highly influenced by the commodity market, this currency pair is not seen as a major commodity pair. Energy commodity prices, the most well-known crude oil prices, have a strong influence on the Canadian dollar, while heavy metal prices affect both currencies. The Canadian dollar and the Japanese yen are closely related to the economic situation created by the United States, and US trade affects currency pairs. Historically, the high yield of the Canadian dollar has made this currency pair a good choice for carry trading.

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14. CHFJPY (Swiss Franc vs Japanese Yen)

CHFJPY is an abbreviation for Swiss francs vs. Japanese yen. During the 2008 financial crisis, currency pairs reached their lowest trading rates. However, more transactions have been made in the last few years due to Japan’s monetary easing. Both currencies are considered safe currencies due to the low inflation rate and high stability of the economies between the two nations. Currency pairs also affect the interrelationships of major European and Asian financial centers. CHFJPY is seen as the sixth ranked and lowest liquidity currency pair in the forex market. It is also affected by Asian and European stock indicators and various economic indicators (discount rate, CDP, inflation, unemployment rate level, CPI, PMI, etc.) Japanese Yen and Swiss franc currency intervention.

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15. EURAUD (Euro vs Australian Dollar)

Euro / AUD means how much AUD you will need to buy 1 Euro. The Euro (EUR) and Australian Dollar (AUD) pairs are referred to as “ cross currency” pairs. It is considered a good measure of global risk. EURAUD trading volume relies on the world’s largest and most influential economic relations, such as the Eurozone and Australia. The currency pair fell during the 2012 sovereign debt crisis, but has recovered since the introduction of the European Central Bank’s Government Bond Acquisition System (OMT) or the “Whatever it takes” system.

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16. EURCAD (Euro vs Canadian Dollar)

EUR / CAD is a currency pair of Euro (EUR) and Canadian Dollar (CAD). This is the 7th most traded cross currency pair in Forex. It provides traders with the opportunity to trade the European Union economy while avoiding unnecessary risks due to global macroeconomic factors. The euro serves as the major global reserve currency and is one of the largest circulating currencies in Forex. CAD, on the other hand, is a commodity currency and is highly dependent on the price of crude oil, which is the most prominent energy commodity. Some of the biggest influences on currency pairs include the US economy, monetary policy decisions by the European Central Bank and the Bank of Canada, commodity prices, and political turmoil and changes in the Eurozone.

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17. EURCHF (Euro vs Swiss Franc)

EURCHF is the market value of the euro vs. Swiss franc pair. Both economies are therefore deeply linked to the Swiss franc’s chain reaction when the eurozone economy falls. Although this currency pair is not widely traded, it still plays an important role in many Forex trading platforms. The Swiss franc has long been considered a major global currency, serving as a safe currency for many investors during volatile economic conditions. EUR / CHF acts as a portfolio hedging tool against changes in other international currencies. Due to the lack of volatility, EURCHF is not popular with traders who do not make enough money in such markets.

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18. EURGBP (Euro vs British Pound)

The currency pair EURGBP represents one of the most traded pairs in Forex, as it includes Europe’s two largest economies, eg the Eurozone and the United Kingdom. This cross currency pair tends to be relatively more stable than many other euro or pound sterling basic crosses. This is due to the huge intertwining of European and British economies and the enjoyment of some degree of economic closeness. Events and coverage following the UK’s departure from the EU in 2017 could potentially affect currency pairs and lead to even more unpredictable movements than usual. It is referred to as a “politically dominant” currency pair. The UK Bank and the European Central Bank, GDP and inflation are some of the factors that most influence the movement of the EUR / GBP pair.

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19. EURJPY (Euro vs Japanese Yen)

EURJPY is an abbreviation for Euro and Japanese Yen. This cross currency pair displays the value measured by the euro (basic currency) against the Japanese yen (counter currency). Historically, the Japanese yen has maintained a low interest rate rate for attractive carry trades as it is used to buy other high interest rate currencies. Eurocross is most associated with bullish moves and is no exception to the EURJPY currency pair. Both currencies are under significant influence of the US dollar and it is important to observe key indicators of the US economy in order to anticipate future movements of trading products. This currency pair is becoming more and more popular with investors due to its advantages from many technical and fundamental indicators.

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20. EURNZD (Euro vs New Zealand Dollar)

This pair represents the Euro and New Zealand dollar cross currency pairs. It is popular among traders who prefer volatility with the daily drastic fluctuations of this currency pair. New Zealand is a small economy that shares major ties with Australia and Asian countries (often considered as a substitute for China’s growth). As a result of European hardships, the NZD has been trading against the euro for the last few years as surplus cash seeks strong and safe profitability. This pair offers the opportunity to profit from many price variances and is linked to high risk.

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21. GBPAUD (British Pound vs Australian Dollar)

GBPAUD is an abbreviation for British Pound and Australian Dollar, which represents the Australian dollar value required to buy one pound. Both currencies are considered major currencies, but this currency pair is not. The two currencies maintain a highly independent economy focused on different industries. The Australian dollar is considered as a commodity currency that is extremely dependent on raw material exports, while Sterling is dependent on manufacturing and finance. Compared to the pound sterling, the AUD offers significant exposure to the Asian economy and commodity circulation, providing a great advantage for traders to diversify their portfolios. The value of the Australian dollar will rise against the pound as the price of mining products rises and the global commodity cycle grows due to financial and manufacturing recessions. Pairs are seen as a popular reverse option to major global trends in developed countries.

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22. GBPCAD (British Pound vs Canadian Dollar)

The pound sterling / Canadian dollar (GBP / CAD) cross currency pair is one of the most actively traded currency pairs in the world. Given that the Canadian dollar is closely linked to the United States, this currency pair substitutes for what dynamics will occur in GBPUSD and EUR / USD. The pound sterling is the fourth most traded currency on the foreign exchange market and is considered one of the world’s major reserve currencies. The Canadian dollar, a commodity currency, relies heavily on well-known crude oil commodities, so CAD gains momentum as crude oil prices rise, causing the GBP / CAD pair to fall and CAD to support low oil prices. GBP / CAD has an uptrend due to the loss of.

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23. GBPCHF (British Pound vs Swiss Franc)

A pound sterling (GBP) cross currency pair against the Swiss franc (CHF) means the number of francs needed to buy a pound sterling. GBPCHF is a low volatility pair, making it a popular currency pair among traders who want to grow their capital steadily without taking too many risks. The Swiss franc is a safe currency, so GBP / CHF is the most popular when investors defend their funds in the Swiss franc, while the market is turbulent and uncertain. The pound sterling is the number one reserve currency and represents one of Europe’s larger economies. Trading of this currency pair is the most active during the European trading session.

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24. GBPJPY (British Pound vs Japanese Yen)

GBP / JPY is the amount of Japanese Yen that will be purchased for 1 British Pound (GBP). Nicknamed “Dragon” or “Wind Maker”, this currency pair is known for its high risk, volatility and regular wide trading range. The GBPJPY trajectory is popular among day traders and scalpers seeking volatility, big moves and thrills in trading. The best trading time for this currency pair will be at the end of the Asian trading session and the UK session. This currency pair is used as a measure of the health of the global economy, as the JPY is a low-interest rate currency, preferred by carrying traders and the UK represents the world’s largest financial center. This is ideal for ‘risk-off’ movements during market turmoil as carry trades go in the opposite direction regardless of the trading hours in question.

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25. GBPNZD (British Pound vs New Zealand Dollar)

GBPNZD is a pound sterling exchange quote for the New Zealand dollar. This cross pair is one of the most volatile pairs with GBP and is an attractive option for trend traders. The two monetary systems have a long history of trading, and only in 1993 did the NZD become separate from the pound sterling. Trading this pair will be severely impacted on the UK and New Zealand economies, as well as commodity prices. GBPNZD has similar characteristics in both GBP / JPY and GBP / AUD and therefore serves as a diversification of these two pairs.

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26. NZDCAD (New Zealand Dollar vs Canadian Dollar)

NZDCAD is an abbreviation for the cross between the New Zealand dollar and the Canadian dollar. Both currencies are considered as commodity currencies because they depend on commodity export prices such as crude oil (CAD) and crops (NZD). This cross currency pair is often considered volatile, unpredictable and inconsistent, making it the best currency pair for high risk appetite traders. While the New Zealand dollar has close ties to emerging markets in Australia and Asia, CAD has a close tie-up with the United States. Therefore, it is important for traders to keep an eye on performance in the Australian, Asian and US markets and the intervention of the Bank of Canada (BOC) and the Reserve Bank of New Zealand (RBNZ).

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27. NZDCHF (New Zealand Dollar vs Swiss Franc)

NZDCHF is a currency pair of New Zealand dollar (NZD) and Swiss franc (CHF). The New Zealand dollar, also known as the “ Kiwi”, is considerably less stable than the Swiss franc due to high interest rates and global economic performance. The Swiss franc, on the other hand, is a safe currency with high stability and low interest rates. This currency combination is not widely traded, but it is intriguing to traders who prefer gambling due to its high risk factors and unpredictable circumstances. Minor currency pairs are highly affected by relevant central banks in Australia, the United States and Europe, as well as market intervention resulting from various adjustments.

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28. NZDJPY (New Zealand Dollar vs Japanese Yen)

The NZDJPY currency pair is an abbreviation for the cross currency of the New Zealand dollar and the Japanese yen. This currency stands out in that it represents a combination of commodity risk currencies and safe currencies. The Japanese yen tends to be bullish during periods of market instability. The low interest rates on the Japanese yen make this currency pair an attractive option for carry trading. The currency pair will also be the most active trading during Asian trading hours as the New Zealand and Japanese markets begin. It is also often affected by unemployment, inflation, GDP growth and economic and political policies in New Zealand and Japan.

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29. EURNOK (Euro vs Norwegian Krone)

EURNOK is an abbreviation for the cross currency of the euro and Norwegian krone. EUR and NOK are considered as exotic currency pairs with lower liquidity than the major currencies EUR / USD. Due to the geographical proximity between Europe and Norway and the high level of trading activity, there is a strong relationship between the NOK and EUR currencies. Norway relies primarily on exports and is the fifth largest oil exporter in the world. Since more than 60% of exports are sent to the euro region, it is linked to the economic health of Europe as well as crude oil prices.

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30. EURSEK (Euro vs Swedish krona)

EURSEK is a euro-Swedish krona exchange quote. Sweden, a member state of the European Union, has opted for the introduction of the euro and has opted for membership in ERM II, a precondition that has made it possible to hold a 230-year-old krone (crown). EURSEK is one of the most popular Swedish krona exchange rates. Most of Sweden’s trade goes with the Eurozone, with Norway and Germany as its top trading partners. Since Sweden is so dependent on the EU for trade, the instability of the euro creates a difference in profits as a result of problems in the nations that make up it. The pair remains somewhat volatile due to the recession in the eurozone.

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