What Are The Best Currency Pairs To Trade Binary Options

Choosing the correct nugget to trade with binary options is not easy. The selection process becomes even more difficult for new traders as they have no experience in whatsoever assets.

Out of bolt, forex, indices, and stocks, information technology’s forex that has minimal run a risk. And then, no affair whether you are an experienced or new trader, this
currency pair trading should be your choice to make a prophylactic trade.

Moreover, the
forex market place is non as volatile
because the collateral is low. Also, forex trading is more profitable as it offers high returns.

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In that location are 11 forex pairs or more than that you can choose from to trade forex with binary options. They are GBP/USD, EUR/USD, AUR/USD, USD/JPY, USD/CHF, EUR/GBP, USD/CAD, AUD/JPY, GBP/JPY, EUR/JPY, and USD/MNX.

Ane of the strongest currency pairs amidst the bachelor options is EUR/USD. You can trade this pair for making more profit.

But what is the trading time for EUR/USD? Or what strategy tin can you use for trading this currency pair? The answers to these questions are in this guide.

How does Forex trading work?

At that place are a few important aspects of forex trading that you must know before starting your trade.

• In the currency pair, the first currency is called the base currency, and the second one is called the quote currency. For example, in EUR/USD, EUR is the base currency, and USD is the quote currency.
• The trading chart for currency pairs shows the movement of base of operations currency with respect to the quote currency.
• In the currency pairs, the first currency has a value of ane. For instance, if the value of EUR/USD is one.eleven, y’all can conclude that there are ane.11 United states dollars to one euro.

Dissimilar other avails, you can
trade currency pairs 24 hours
because a global network of banks operates it. Also, forex trading has three different types of markets, i.east., spot forex marketplace, futures forex market, and forward forex marketplace.

Moreover, the move of prices of currency pairs is calculated in pips. Here, a pip represents percent in points.

Why should you lot trade EUR/USD with Binary Options?

EUR/USD is the almost traded currency pair, and it is likewise included in “The Major” group that has all the pop currency pairs from around the globe.

The different trading time frame of the
EUR/USD system makes it
a reliable selection.
Since this currency pair is available to merchandise all twenty-four hour period long, it has good liquidity. And better liquidity results in skillful pricing.

For successfully trading EUR/USD pair, you can either use the Loftier/Low or Touch/No Touch binary options. Also, y’all can register yourself with IQ Option, RaceOption, or Quotex to become higher returns past trading this currency pair.

Why should you non trade EUR/USD?

Just similar other assets, this trading pair also has certain limitations. Hither are a few of them.

• EUR/USD is a highly volatile currency pair because it is traded the most. The high level of volatility tin convert a winning trade into a losing merchandise. Even if you lot have a good understanding of the forex market, information technology’south hard to predict the speed at which the price of EUR/USD swings.
• If you like trading on margins for gaining more profits, you should also be ready to face losses.
• EUR/USD does not entirely follow the trend.

Trading time for EUR/USD

Information technology’s essential to trade the strongest currency pair at the right time to gain more profit.

European Forex Session (07.00-16.30 UTC)

Before x:00UTC, the trading movement of the currency pair depends on the Asian traders every bit they gear up profit and loss at the terminate of their trade. Also, earlier the market opens in America, the price slightly decreases.

Europe America Session (thirteen.30-16.30 UTC)

During this time, of import news related to currency pairs is released in the US. This thing tin can either bring downwards the market or can strengthen it. Moreover, American traders make around threescore%-70% of total merchandise.

America (thirteen.thirty-20.00 UTC)

During this flow, the dollar is strengthened because the currency moves from Euro to Dollar.

Asia (20.00-07.00 UTC)

The EUR turnover falls during this period. Thus, traders remain outside the market and wait for the market to reopen in Europe to ascent again.

Trading strategy for EUR/USD

Here are a few strategies that traders can follow for earning huge profits by trading EUR/USD pairs.

Timing

In one case you know how EUR/USD pair works, yous tin choose the right time for its trading. Y’all tin can either choose 5-minute trading, 30-minute trading, weekly, or all-day trading.

Although y’all can practise forex trading throughout the day, you lot should non do information technology because information technology can result in loss. And so, you should wait for the EUR/USD pair to go active and then brand a trade.

If you choose the wrong time, even your winning trade can convert into a losing trade. The ideal time for trading EUR/USD is 13:00 to 16:00 GMT. During this time, the market of London and New York are open.

Narrow Patten Ranges

You tin enter the market during narrow pattern ranges to avoid losing. A narrow price range is created when the currency pair drop or climb and and then autumn dormant. During a narrow cost range, volatility is less.

Follow news trend of European and US Market

Y’all can follow news trends to sympathize what is happening in the EUR/USD market. When you are up to date with the financial news, yous get a better knowledge of whether or not you should merchandise the currency pair.

Following the news trends will too help y’all know how the currency pair is performing. Also, you can know when the pair is volatile.

Conclusion

While EUR/USD currency pair is one of the strongest pairs, there are a few things that you should consider. That’s considering EUR/USD likewise has certain limitations, and it can issue in huge losses.

Y’all must proceed an center on the financial news, select an appropriate time, and develop an excellent strategy to brand a winning trade.

Even if yous are new to the trading world, you can increase your profitability by understanding the EUR/USD currency pair and using a trusted broker.

Furthermore, come across my other strategies.