Top 6 Most Tradable Currency Pairs

SOL/USD is a trading currency pair that is steadily growing in popularity due to its attractive exchange rate. This trading pair combines the cryptocurrency Solana with the US dollar.Kraken now Sol to US DollarThe exchange rate is 1 SOL to $20.53 USD. However, the exchange rate between Solana and the US dollar fluctuates due to factors such as relative scarcity, supply and demand, media attention, and investor sentiment. With this pair, you get benefits such as 24/7 trading, no swaps, and no fees.

Fiber optic trading (EUR/USD) is rapidly gaining popularity, perhaps due to the European Single Market and the global economic prominence of the United States. This currency pair accounts for over 23% of his average daily trading volume across all currency exchanges.

The currency pair continues to gain liquidity thanks to daily high levels of EUR/USD trading, leading to tighter spreads. Tight spreads and liquidity attract more traders as they allow large trades with minimal market impact.

Forex traders refer to the GBP/USD currency pair as a cable because the deepwater cable was involved in delivering bids and requesting quotes between New York and London. This currency pair combines the British Pound with the famous US Dollar. This primarily favors day traders who benefit from price fluctuations by entering and exiting the forex market at a precise pace.

GBP/USD seems to be positively correlated with EUR/USD and negatively correlated with USD/CHEF. Experts believe this is due to the positive correlation between the Swiss franc, the British pound and the euro.

The USD/JPY currency pair, better called the Gopher, consists of the US dollar and the Japanese yen. This pair represents approximately 13.5% of all cumulative daily forex trading.

Most traders focus on USD/JPR due to its high liquidity. This means that currency pairs can be traded without excessive price fluctuations during exchange rates. It also features the narrowest spreads. Overall forex marketreduce trade costs.

Also known as the Aussie, this pair represents the Australian dollar and the US dollar. It accounts for more than 5.4% of the foreign exchange traded daily. The value of the Australian dollar is linked to the value of exports, with mineral and metal exports accounting for the largest share of gross domestic product (GDP). A slight decrease in the value of these exports would affect the value of the AUD/USD currency pair, which could lead to an appreciation of the US dollar.

This currency pair combines the US dollar and the Chinese yuan. The trade relationship between the two is generally treated as RMB. In daily forex trading, USD/CNY has a market share of around 6.6%.

This US-China trade relationship continues to offer many speculative elements for USD/RMB traders. trading opportunity. If you are interested in trading the RMB, it is best to stay abreast of trends and developments in your relationship as they may affect future RMB pricing.

There are currently a number of viable currency pairs available that help forex traders to profit. As a trader, you should pay attention to several factors along with performing your own fundamental and technical analysis to establish the viability of a currency pair and know where to trade.