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Strategy For Trading Major Currency Pairs

Major currency pairs are frequently traded within binary options platforms. What the “majors” have in common is that each pair is highly traded, and each includes the U.S. dollar as one of the two components. Within the Forex markets, the majors are linked to approximately 85% of the trades that take place each day. This alone tells the story of just how active they are. As such, traders will need one or more reliable strategies to use when trading with these popular pairs.

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Since fast price movement is to be expected, one should also expect to be presented with plenty of profit opportunities. When currencies are paired, the values of each are in direct competition, with each vying for the top spot. There are many different elements that can impact the value of a currency. These include, but are not limited to, political moves, interest rates, and employment numbers. Big changes within the country linked to the currency will typically bring about a change in the value of that currency.

Fundamental analysis is an absolute must when trading with currency pairs. Although technical analysis should not be overlooked, market news provides a clear picture of why the price of an asset is moving in a certain way. Whenever a strong price trend is taking place, its origin can be traced directly back to some data that is working to impact investor sentiment. Once you know why a price is moving as it is, it becomes easier to gauge not only the upcoming price direction, but also how long the prevailing movement may last.

Support and resistance must be considered. Seasoned traders will often establish their own support and resistance levels for specific assets. However, novice traders need not concern themselves with this as S&R information is widely published online by market experts. Although there is a lot of trade volume that takes place with the majors, this does not mean that extreme swings are likely. For this reason, S&R provide plenty of insight to those who are utilizing currencies within their chosen binary options platform.

The strategy itself is quite basic. When the price nears either an area of support or resistance, be ready to trade with the upcoming reversal. There is absolutely no guarantee that the price will remain within these levels, especially if investor sentiment is strong at the time. However, this form of trading is often linked to odds, and the odds are in the favor of the price not being able to push through these levels under normal market conditions. Again, exercise caution during times when actual data does not line up with the forecasts.

This strategy can be used by beginner level traders who have taken the time to familiarize themselves with the basics of support and resistance. These numbers and a live price chart are the only two tools needed. One of the benefits of trading with the majors is that these currencies are widely reported on. Market experts tend to focus on these much more intently than they do the lesser traded currencies. Information, including the current S&R levels should be easy to locate and easy to apply to your binary options trades.

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