💥 There are more forex pairs out there than you can imagine. With dozens of different currencies existing around the world, the possible combinations for trading them are well over 200 – meaning that there are potentially 200 forex pairs for you to choose which one to trade form. In your forex trading 101 you would have learned about the big 7 or big 8 currencies that are the most frequently traded in the forex world.
These include: USD, EUR, GBP, JPY, CHF, AUD and CAD at the minimum. You should, of course, be aware of these major currencies and always keep an eye on them. There are many different methods a forex trader can use to pick their best pairs, and we’ll look at 5 of the best methods to select which pairs you want to trade. Let’s expand your trading 101 knowledge by looking at the strategies top traders use to identify the pairs they want to be trading.