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Happens between pairs.

With regards to trading forex, then again, most by far of exchanges happen between pairs of major currencies, for example, EUR/USD and USD/GBP. There are just eight major currencies, and regardless of whether you look somewhat further away from home to lesser known currencies, there are still just relatively little numbers to pick between, instead of endeavoring to focus in on the correct selection of stocks from the a large number on offer. The slenderness of decision with regards to currency pairs makes it simpler to focus, rather, on observing economic situations.
 
For sure those two give the most volume anyway so we can really think about something else, correct? I do assume you need to select even more money there by including CAD and AUD and maybe some other less popular currencies.
 
Major economic pairs like EURUSD, USDJPY, etc... are less volatile when compared with other pairs. Just like you have said, they fluctuate based on the economic events.
 
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.
 
I know there are a limited number of currency pairs but that is what helps most of the traders to earn. You have to find the best currency pair which will bring you a good amount of profits and then with a working strategy you can trade in it.
 
Every pair has its own unique movement pattern and characteristics. Sometimes it seems they are all moving to the same direction but every pair has its own chart and price pattern. If a trader can understand that it becomes more easier for him to make money.
 
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