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Nigeria

TYPES OF CURRENCY PAIRSWhen trading Forex, it is essential to know about the different types of currency pairs, as some pairs are much riskier to trade than others, especially for those with minimal trading experience. Major Currency Pairs Before we discuss major currency pairs, we should first list the major currencies individually. The eight major currencies are: US dollar (USD) Euro (EUR) British pound (GBP) Japanese yen (JPY) Swiss franc (CHF) Canadian dollar (CAD) Australian dollar (AUD) New Zealand dollar (NZD) As listed above, there are eight major currencies but there are only seven major pairs because a major pair includes the U.S. dollar. Major pairs are the most traded currency pairs on the forex market. They account for the highest average trade volume and have the most liquid markets, as well as the lowest risks and spreads offered by brokers. The seven major currency pairs are: EUR/USD – Euro / US dollar GBP/USD – British Pound / US dollar USD/JPY – US dollar / Japanese yen AUD/USD – Australian dollar / US dollar USD/CHF – US dollar / Swiss franc USD/CAD – US dollar / Canadian dollar NZD/USD – New Zealand dollar / US dollar Note that AUD/USD and USD/CAD are sometimes also referred to as commodity currencies. Minor Currency Pairs Minor currency pairs (also known as cross pairs or crosses) always include two major currencies but not the U.S. dollar. Crosses are not as popular and as highly traded as the major pairs. This means they can be riskier than a major pair and will attract wider spreads from brokers. Their liquidity can also be low at times, presenting a challenge for inexperienced traders in a thin volume environment. Here are a few examples of minor currency pairs: EUR/GBP – Euro / British pound EUR/JPY – Euro / Japanese yen GBP/JPY – British pound / Japanese yen AUD/NZD – Australian dollar / New Zealand dollar NZD/JPY – New Zealand dollar / Japanese yen GBP/CAD – British pound / Canadian dollar Exotic Currency Pairs Exotic currency pairs consist of a major currency paired with a currency from a developing and emerging nations as well as certain developed nations. These currency pairs trade in a far less liquid market compared to the majors and minors as they are traded less frequently. This causes their spreads to be much higher than those of the major and minor pairs. Here are a few examples of exotic currency pairs: EUR/TRY – Euro / Turkish lira USD/ZAR – US dollar / South African rand AUD/MXN – Australian dollar / Mexican peso USD/HKD – US dollar / Hong Kong dollar NZD/THB – New Zealand dollar / Thai baht CAD/NGN – Canadian dollar / Nigerian naira Risks and Spreads Major currency pairs have the most liquidity and as a result, attract lower spreads, whilst minor and exotic pairs are much riskier and attract wider spreads. Liquidity & Volatility Due to high liquidity in the major currency pairs market, they are consistent and predictable, whilst minor and exotic pairs can be volatile and extremely unpredictable at times. Please also see images below for visual examples of the difference in price behaviour of the different pair types. MAJOR PAIR & CROSS PAIR MAJOR PAIR & EXOTIC PAIR CROSS PAIR & EXOTIC PAIR Which is the best currency type to trade for new traders? We will be a posting an educational article on this in the future delving into details regarding this question. Trade safely and responsibly. BluetonaFX
Education
by BluetonaFX
5
A Possible 35% Increase by AfriprudHi, My Name is Victor. This is the first time I decided to go public with my strategies. My strategies are not 100% efficient but they are sure to give you some returns for your investment. This strategy is based on volume and price and movement. The major indicators used to arrive at this idea are purely technical though am aware that Africa Prudential PLC. (Afriprud) has a strong fundamental. The key indicators used are CCi, RSI and MA 50, 100, 150. The volume shows that at 6naira per share, Afriprud has a high volume of demand and this might also serve as our resistance level. for a while Afriprud has been on an uptrend and is currently taking a pull back inorder to continue this trend. Our CCI indicates that price has gone over bought and might likely reverse. The RSI indicates a weak trend hence a reversal is bound to occur. Entry - 6naira exit - 8.14 stop loss - 5.5 Gain - 35% Risk/reward ratio; 4.24
NSENG:AFRIPRUDLong
by victoronuoha35
1
NSE Daily TimeframeSNIPER STRATEGY This magical strategy works like a clock on almost any charts Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading. It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave. The best timeframe for this strategy is Daily, Weekly and Monthly however it can work any timeframe above three minutes. Start believing in this strategy because it will reward believers with huge profit. There is a lot more about this strategy. It can predict and also it can give you almost exact buy or sell time on the spot. I am developing it even more so stay tuned and start to follow me for more signals and forecasts.
NShort
by hadimozayan
USDNGN Long term analysis !Pattern Wedge on NGN, but take in mind that this is monthly timeframe and of course long term analysis. Based on technical indications NGN can correct its trend against USD to 349.77 in next 5-6 months. Anyway price can gradually decline to 360 before christmass holidays\ Terms and short forms! T - Trendlines (T1,T2... etc.) S - Supprt levels (S1,S2... etc.) R - Resistance levels (R1,R2... etc.) TP - Take Profit SL - Stop Loss F - Fibo Levels (F23,F61... etc.) Check out my next stream "What is divergence, why it is important for trading?" www.tradingview.com
Short
by AmiranAzaladze
1
We Must Keep An Eye On BUA CementBUA Stock price is now creating a new 52 week high having closed last trading week at 44 Naira. And with book favouring future growth of the company, everything looks promising. If the price can break above 44, and re-test it in near future, its a good opportunity to key into the market otherwise, a decline to value price either at 38 or 41 even provide a better entry price. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
NSENG:BUACEMENTLong
by BullBearMkt