During the trading process on NS Broker mobile, situations arise periodically when the forex indicators show one value and the price has a completely different direction. Perhaps the whole thing is in the selected tool. Next, we will consider which currency pairs are the most popular on the market, and we will analyze the features of some of them in more detail.
This category includes all currency pairs where the American dollar is present. According to statistics, about 75% of all operations and the Forex forecast are held for this group.
This category consists of the main types of currencies, but none of them contains a dollar. The most common crosses are found with the euro, pound and yen.
A combination of the primary and secondary currencies forms such a bundle. As a rule, the first component is the monetary unit from a country with a well-developed economy (USA, UK, etc.), and the second with a moderate one (Norway, Czech Republic, Denmark, etc.).
It doesn’t matter what strategies or forex advisors you use when trading on NS Broker, without knowing the features of each selected bundle, it is quite difficult to achieve your goal. Consider a brief description of the currency pairs that are most often used by traders.
EUR / USD
The most common pair that is used in their activities by 90% of all representatives of the exchange. It demonstrates its best characteristics during a clearly marked trend. The high popularity of an asset quite often negatively affects its natural dynamics (the direction may change several times during a trading day).
USD / JPY
This is the second most popular currency bundle, with which it is highly recommended that beginners and traders who make decisions solely according to the rules of technical analysis not work. It reacts very sensitively (provokes high exchange rate fluctuations) to political and economic events taking place in Japan and the USA.
USD / CHF
A bunch that is quite convenient for forecasting, adhering to targeted trend movements and horizontal levels. Sometimes it is characterized by stagnation and deviations, therefore, it is not suitable for all trading strategies. It repeats quite accurately the movement of the EUR / USD pair (inversely proportional relationship).
GBP / USD
The pair partially copies the movement of EUR / USD, however, this feature should not be counted on. The main period of time, the movement of these ligaments does not coincide, and sometimes in general, has the opposite direction. GBP / USD instantly responds to news events taking place in the UK. It has increased volatility, so it is suitable for aggressive trading techniques. Practically does not adhere to technical lines, therefore, false breakdowns for a pair will be in the normal order.
USD / CAD
The pair is strongly influenced by oil indicators. If raw materials lose in value, then the same thing happens with currency (and vice versa). Without taking into account this fundamental specificity, working with standard technical analysis strategies is rather risky.
EUR / GBP
The calmest couple in the forex market. There are frequent cases when the size of daily fluctuations did not exceed a few points. Given the high cost of one point, the bundle is popular with traders who adhere to scalping techniques of market analysis. It is worth noting that in a falling market, EUR / GBP is well predicted and complies with the main provisions of technical analysis. During growth, this is rarely observed (most often lingering calm alternates with abnormal impulses that carry any strategy to zero).
Now you know that all profitable Forex strategies should take into account such factors as the dynamics of the selected currency pairs. It is impossible to unequivocally state which tool a trader should use. This is a matter of choice and personal preference. Trade professionally and pay attention to detail. Good luck!