12 Major currency pairs - forex trading tax in australia

12 Major currency pairs ~ forex trading tax in australia

Well to be honest there is no such thing as 12 major currency pairs, there are actually about 7 (depends on how you count) major currencies, and well ... many major currency pairs.

So whats with your title, you maybe wondering? Let me justify myself, like i said there is no such thing as 12 major currency pairs, this is my list of currency pairs i like to trade, all my currency pairs are made from major currencies thus the name "12 Major currency pairs", however i do not advice you to use this name in group of professional forex traders, in best case they will get confused ... i do not want to tell what can happen in the worst case here :).

I will give you the list shortly but let me first explain why i choosed this currency pairs. There are few reasons, there are quite big moves on them in short periods of time, small spread, and i find it easy to apply technical analysis to those currency pairs.

Ok here it is:

• EUR/USD - well obvius, there is not a single trader who does not trade this currency pair
• GBP/USD - pretty similar pair to EUR/USD however it is quicker, and the moves are about 50% bigger, 150 PIPs daily is not uncommon for this pair.
• USD/JPY - quite predictible lately, notice that most of the time USD/JPY is bullish it moves slowly up, when there is a correction on this pair, it moves few hundreds pips down in just few days.
• EUR/JPY - pretty much the same as USD/JPY but moves are less predictible
• AUD/USD - good alternative where you have no idea where EUR/USD will go, however moves on this pair are smaller then on EUR/USD
• USD/CAD - pretty predictible, mainly because CAD is highly correlated with oil price, and you know what oil price chart looks like right?
• USD/CHF - very strong correlation between this pair and EUR/USD
• EUR/CHF - the same as USD/JPY slowly moves up and then quickly falls down
• EUR/CAD - high spread, well i do not know i just like to trade, i always find it easy to predict where will it move and how much
• EUR/GBP - very slow currency pair, however sometimes spread can be low on it
• EUR/AUD - this is very personal pick, i like to trade, but spread is very high so i only use it for long term trades
• NZD/USD - yes NZD is not really a major currency, but i like to trade this pair because it has low spread, easy to predict and has weak correlation to any other pair on this list

Well that is all, if you have your own private currency pairs list feel free to share it here in comments section, also i will be happy to answer any of your questions.
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