Traders Tips
by Gerard on May 6, 2019

What are the best currency pairs to trade in Forex

Unfortunately, the majority of the articles claiming to provide you with a list of the best Forex currency pairs to trade are not informative at all. That’s the reason why we’ve decided to craft the valuable piece of content, most probably helping you identify the potentially profitable assets to trade with.

However, learning the basics of FX is a must before reading the below-described paragraphs. We do recommend taking some time off to get the idea of how the trading system works, for instance, you should be familiar with dealing with hundreds of brokers, collecting the right amount of capital to invest and knowing how to use the trading platform.

If you’ve gained all the information that I’ve described upfront, there’s nothing to wait for. Enjoy reading the article, providing some golden nuggets about choosing the best currency pairs to trade today. Without farther ado, take a look at the currencies first, then we will try our best to let you know more about their specifics.

  1. USD/CAD – United States Dollar / Canadian States Dollar
  2. USD/JPY – United States Dollar / Japanese Yen
  3. USD/CHF – United States Dollar / Swiss Franc
  4. EUR/USD – Euro / United States Dollar
  5. GBP/USD – British Pound / United States Dollar

Surprisingly, the list may continue, depending on the trader’s needs, but these ones are our favourites in terms of making some profits. Don’t get frustrated with the terminologies, if it’s your first time seeing them, we will try our best to explain the basics first and later on provide you with some advanced stuff.

What are the best currency pairs to trade for beginners?

We have already mentioned that choosing the right broker and registering onto the proper trading platform are among the mandatory steps that need to be followed before starting out the trading experience. After completing the registration form, you as the trader will have a chance of trading with roughly 50 currencies.

take a look at the best forex currency pairs to trade at night

It may sound too many for the first-time customers of the Forex market, but that’s not actually the truth. However, remember that knowing the exact trading methods along with identifying the profit-oriented pairs will help you make a real fortune. Basically, there are seven currency pairs, including the majors and minors.

All of them make the list of the best currency pairs to trade during US market hours because of implementing the United State dollar. There’s no special order while writing down the pairs. That’s just the way we felt while crafting the article Feel free to order them, depending on your needs or requirements.

The United States Dollar / Japanese Yen

The majority of the inexperienced traders don’t know that the Japanese Yen is one of the most actively traded currencies. Without a doubt, the US dollar gets the first place for attracting the attention of millions of people, located in different parts of the world.

Basically, you will have to monitor the FX marker 24 hours a day, not exactly but spending hours of time on reading the charts should be among the priorities of yours, in case wanting to find the success.

During the period of the day, the pair moves steadily without having dramatic ups and downs. However, sometimes there’s a chance of facing quite a few troughs and peaks. That’s the reason why always paying attention to best currency pairs to trade today should be among the to-do list of yours.

Don’t forget to check out the sessions tab of your trading platform to get the proper information. You can convert to the desired time zone to see the difference, but setting the local one is always the best idea.

While dealing with USD/JPY, you should avoid day trading while facing the drops in volatility. As a matter of fact, London opens at the time of having the Tokyo shutting down its operations, that’s the reason why the above-mentioned currency pair notices few drops during the volatility, starting from 03:00 all the way to 05:00.

An ideal time to trade USD/JPY is between 12:00 and 15:500 GMT. New York and London markets are open during the mentioned period of times. Unfortunately, having the Tokyo one closed affects the currency pair at some point, but generally, it will face some of the largest movements, giving millions of traders the right opportunity of making some profits.

Final verdict

Remember that there’s no such a guarantee, promising you to earn a certain amount of dollars a day in profits. Even the publications claiming to provide you with the most predictable currency pairs aren’t informative enough to make the investment, worth thousands of dollars, without even worrying about the possible loss.

If you live in a different time zone or there’s close to zero chance of you being awake during the previously-described time periods, we recommend checking out other currency pairs to experiment with. Hopefully, you will be able to find the most suitable one, meeting your requirements.

The prices of the above-described currencies move a bit against each other. Moreover, we can refer it to the best currency pair to trade during Asian session, for the reason of involving the Japanese Yen. So if you’re from the eastern part of the world, get ready to make profits.

USD / CHF – easiest currency pair to trade

Miserably, the higher percentage of the traders are not familiar with the capabilities of the foreign currencies, probably they’re the most underrated elements of the Forex niche. As a matter of fact, there are millions of people trading for Swiss Franc.

Of course, there’s a reason why people are fascinated with CHF. Basically, Switzerland bank holds a huge amount of privately owned wealth, exceeding the one-third of the total quantity. Additionally, Liechtenstein is the second active country, implementing the currency on a day to day basis, influencing the price movements of the FX market,

If you are looking for the best currency pairs to trade New York session, then consider experimenting with the above-described one. Once seeing the actual results, we’re sure you will continue making a real fortune.

Unfortunately, the majority of the inexperienced traders think that the above-mentioned one is among the most predictable currency pairs available on today’s market, but that’s no the common fact, for sure. The higher percentage of them use the historical data, prices charts and some sort of complex information to make a decision. However, constantly being in touch with daily updated news is the mandatory thing, influencing the actual value of the currencies.

take a look at the best currency pairs to trade at night

As well as, subscribing to the most reliable sources will help you get the right information. In case consuming the wrong one, promoting the false data, the risks of making a huge financial loss is quite high.

If you’ve never tried to read the price charts, please take some time to learn to research them the proper way. Just pay attention to the latest data of the USD/CHF chart, the average daily ranges and the prices change at the exact time of publishing official announcements.

Nevertheless, considering the below-mentioned economic factors will help you understand how the United States Dollars will behave against the Swiss Franc. Here is the list of influencing factors: industrial production, trade balance, non-farm payrolls, producer-consumer price index and a total amount of retail store sales.

In order to familiarize yourself with the understanding of the price movements, learning more about the Swiss economy is the only thing that you should worry about. The geographical location and political neutralism made the country’s currency safe in terms of having less sudden changes.

That’s the reason why literally every article mentions the USD/CHF as the best currency pairs to trade for beginners. Moreover, the biggest exporting industries influence the Swiss economy, watches and chocolate markets are the major game-changers.


There’s no way of avoiding dealing with volatility and liquidity cause of being involved in the Forex industry. Nevertheless, generating enough profits by trading Swiss France is not that hard, as many of the traders think.

Taking in all kinds of information regarding the currency, starting from the charts all the way to patterns, should be among the to-do list of yours. Additionally, working with the trading platform, implementing the latest foreign exchange news section will lead to having a more reliable source, influencing the further changes in the market.

It will take some time to get used to dealing with varieties of economic resources, but once you’ve mastered the basics, profiting thousands of dollars will be the hardest job of yours.

USD/CAD – the most popular currencies

There are hundreds of thousands of people trading for the above-mentioned currencies, basically, the exchange represents the process of getting a certain amount of Canadian Dollar for single USD. Without a doubt, a bunch of economic and political factors influence the behaviour of the price points.

Nevertheless, we’ve decided to write down the mandatory ones, impacting the best currency pairs to trade during US market hours. Don’t forget to grab a piece of papers to take some notes.

  1. According to the latest statistics, more than 3.2 million barrels of crude oil were exported to the United States of America in the year 2017. Surprisingly, 98% of the oil currently gets consumed by the states, influencing the exchange rates of the currencies.
  2. Not only oil but varieties of coal, lumber and gas are sent to the US. That’s the reason why having yourself always updated with different types of commodities, helping you predict the price movements, is always the best method of increasing chances of success.

As a matter of fact, it makes the list of the seven major currency pairs, containing the United State Dollar. Don’t forget the fact that the orders are being placed during the period of the American trading sessions. Basically, having close to zero difference in time zone, creates the perfect opportunities for the millions of traders, locating in both countries.

the best currency pair for range trading does not exist

On the other hand, the Canadian dollar moves steady and slow. We have already talked about the importance of export, influencing the country’s economy, but it also makes the currency liquid.

However, we should not forget the fact that the supply and demand level in the business industry is the most influential activity among the previously-described ones, changing the ways of experimenting with the most predictable currency pairs. When there’s some sort of activity in Canadian business world, the value of the Canadian Dollar will rise in terms of having a high demand and in case having the continuous interest, the vast majority of the biggest enterprises make the investment into the currency pair itself.

Is the USD/CAD the best currency pairs to trade London session wise?

No, they’re not.

Sometimes, the London Forex session matches the New York one, but the process itself takes place not more than 2-3 times per year. Unfortunately, there’s no list of currency pairs available, giving you a certain amount of chances of making a real fortune, but the below-described ones are the most commonly rooted for.

  • Euro / United States Dollar
  • The United States Dollar / Japanese Yen
  • Great British Pounds / United State Dollar
  • United State Dollar / Swiss France

The inexperienced traders should be familiar with the fact that there’s a high amount of volatility and liquidity as well during the period of London FX sessions. As well as, paying attention to the sudden breakouts will decrease the chances of you facing the financial loss. Lastly, having the exact information about the NY and London sessions overlapping each other is kind of obligatory thing to know, cause it the only time when the liquidity increases in a matter of hours.

Let’s make the right choice before facing the financial loss

If it’s your first time trading with major currency pair, then we would not recommend going for the United State and Canadian dollar one, because of their complexity in terms of understanding the price movements.

That’s the reason why learning the risk management system along with taking in the information about the methodologies of reading the pairs are the crucial parts of going deep into the Forex niche as a whole. After achieving the advanced level, there’s nothing to be afraid of. Just start experimenting with the trades and eventually, you will be able to find the so-called sweet spot, giving you nice profits over the period of your trading experience.

EUR/ USD – defining the currency pair

Euro against the United States dollar is a long description of the currency pair, showcasing how much the US dollar is needed to purchase a single unit of EUR. The majority of you may wonder what the main reason behind the popularity of the currency pair was, but literally, there’s no so-called secret.

A collaboration of the leading economies of the world made the above-described pair the most demanded and popular one around the whole world. Basically, the Federal Reserve and European Central Bank are the mandatory influencers of the price movements. For instance, EU publishing negative information may lead to decreasing the rates for the Euro against the United State Dollar.

On the other hand, the Fed also has the capability of impacting the rates. However, no ones know the exact date when the certain action will be taken but surely reading hundreds of articles a day regarding the currencies you trade will help you a lot in terms of having a better understanding, leading to making some profits.

After researching ins and outs of the currency pair, our teams of professional Forex traders have reached the conclusion that the Central Bank is the mandatory organization, having the greatest impact on the reasonable changes in terms of price points. Additionally, the Fed monitors the monetary policy based on the value of the payroll report.

find out which which currency pair is most profitable in Forex

In case having the tighter set of rules, profiting on dollar deposits is the one and only way to go. Nevertheless, the history of the Euro against the United State Dollar is way difficult to read than the majority of the traders think. Sometimes the latest employment reports can dramatically influence the exchange rate.

Which currency pair is the most profitable in Forex? Probably, that’s the only question you have, but none of the publications, individual authors or even experienced traders making millions of dollars a day, don’t know the right answer, because of the FX market is extremely hard to operate with.

There are hundreds of indicators, changing the spikes on a day to day basis. That’s the reason why having the trusted source of information subscribed will help you differentiate the real movements from the false positive one, leading you to make the right investment.

Finals words of ours – read attentively

Unfortunately, there’s no exact guide providing you with a list of factors, changing the exchange rate of the euro against the United States dollar. Nevertheless, hiring someone who will let you know more about the political risks, regulation policy and economic variables, taking place in Europe, is among the most effective ways of gathering the right data.

WIthout doing so, familiarizing yourself with just demand and the supply terminologies along with their output levels will not get you to the right place.

GBP/USD – last but not least

The above-mentioned term represents the amount of the United States Dollar that the traders have to pay for the single British pound. If it’s not your first time trading this particular currency pair, then you should be familiar with the fact that the majority of the FX professionals call it the so-called “Cable”.

As a matter of fact, it’s among the best Forex currency pairs to trade, because of having worldwide popularity among millions of other traders. However, the Federal Reverse and the Bank of England are the major organizations, affecting the actual value.

For example, in a casing having the Fed involved in various activities, strengthening the price point of the United States Dollar, the exchange rate of the Great British Pound against the USD declines. Probably, it’s the reason why being updated all the time with the Forex-related publications matters in terms of having the right data.

Surprisingly, the vast majority of the traders think that they’re dealing with the easiest currency pair to trade, but in reality, understanding ins and outs of the history is a must, if you’re willing to make some profits, furthermore.

Great Recession was the mandatory event, influencing the previously-described pair. Basically, in 2007, GBP/USD was trading on its highest, probably above 2.11, but it decreased and reached 1.4, making the currency pair, not the safest one to operate with. Don’t forget that the Great British Pound against the United States Dollar, has a negative correlation with the USD/CHF and the positive one to the EUR/USD.

Time to make a decision

It surely is up to you to make the final decision. However, having a prior understanding of the currencies is a must in case wanting to have some sort of success while trading the pair.

Let’s summarize the purpose of the article. Basically, mastering the varieties of trading strategies alongside with implementing the risk management systems will help you lead in the right directions in terms of having some nice profit margins, but knowing the ins and outs of the currencies is the only thing that matters.

Nevertheless, take some time to learn to read the charts, history of the trading events and familiarize with current politics or even regulations, affecting the specific currency pair. Once you’ve finished with the above-described tasks, there’s nothing to wait for in terms of risking your capital and losing in at the first time of trying to make the right investment.

By Gerard

Gerard contributes his 10 years of experience to the Forex Trading Bonus team by reviewing different brokers, outlining regulation, and reporting on the most important news in the industry. His brief stint in the Bank of England gives him the edge over many other writers to deeply analyze a policy change and come up with a distinct result that could come from it.

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