What's On

  • Written by News Feature Team



Traders who are trading in the market use many different types of currency pairs in Forex. There are major currency pairs and minor currency pairs in the market. Most of the time, it is found that traders are trading the market with major currency pairs. It is because that major currency pairs are used in almost every market in Forex and they are also easy to trade. In Forex transaction, US dollar is the major currency. It is not that there are no other currencies in the market. There are much different major currency pairs in the market and US dollar makes more than 80% of the Forex transaction. Even if you live in Australia, you can deposit in U.S dollar in the reputed broker. To be precise all brokers have the options to trade with mighty green bucks.

US dollar is the world’s strongest currency

The reason US dollar is the major currency pair in forex trading is that it is the strongest currency of the world. In any part of the world, whether it is Asia or in America, the dollar is accepted. It is a universal form of money which every people from all other countries can understand. In tourist and travel spots of all the countries, they widely accept the dollar as a form of money. It has also the most liquidity in currency pairs. You can exchange dollars into your own currency at any time.

Also, there are many countries that prefer dollars when exporting their products. China, one of the economic superpower of the world, always use dollar when exporting their products. In the second quarter of 2016, most of the reserve of the world was on the dollar and it was 63.4%.

Dollar is the global currency

Thanks to the Bretton Woods Agreement in 1944, when all the countries agree to convert their currencies into gold and the wealth of the countries were measured by a reserve of the gold. This agreement has a tremendous contribution which makes the Dollar as the global currency of the world. In forex, when traders are trading the market, their first choice is always in dollars. As the dollar is the strongest currency of the world, it is also not affected by the economic events and news. It is relatively more stable than the other currency pairs of the worlds.

Becoming a profitable trader

No matter which currency you used to fund your trading capital you need to find the perfect trade setups in your trading platform to execute high-quality trades in the market. Most of the novice traders lose money since they execute random trades. But if you look at the professional traders at Saxo then you will notice all of them do the perfect technical and fundamental analysis before they place any trades on the market. If you are relatively new then it will be a little bit difficult for you to spot the best trades. As a new trader, you should learn the market basics first before you start trading with the live assets. Though there are many different kinds of trading strategy in the financial market yet price action trading strategy is considered to be the most reliable one. Learn the most reliable candlestick pattern and trade the key support and resistance level with price action confirmation signal. But always remember that you will have losing orders in the market. So place your trade with proper risk management factors to survive in the long run.

Conclusion: Dollar is the global currency of the world. Every country use dollars for their transactions of goods and services and traders also use dollars for trading in forex market. It is the most widely used currency pair in the market. And for this very reason, every single broker has given the traders to trade with mighty green bucks.

About Australia

What Is an Encumbrance and How Might One Affect My Property?

Property transactions tend to involve a lot of legal language which can be confusing for anyone ...

Getting set for Spring could win you an Aussie holiday

With international travel off the cards, more Aussies are embracing the many great local holiday...

Highly examined Genetic materials for Donation

Egg donation as a part of Assisted Reproductive Technology plays a really important role for the...

Home Plumbing That You Can’t Afford to Ignore

Most of us take our home plumbing for granted. It’s only when things go wrong do we suddenly rea...

Home Is a State of Mind: Creating a Calm and Peaceful Home

It’s amazing how much our homes can affect our mood and mental wellbeing. If you don’t like your...

What Is the Future of OSHC for Australia Amid Pandemic?

Feels like the world has turned upside down since the pandemic began. With the decline in the In...

The Best Commercial Fridge Makers in the Australian Market

If you are dealing in the food business or operating a hospitality venue, then the refrigerators...

Australia's Biggest Horse Races You Might Want to Travel to

Australia is packed with exciting sporting events you might want to visit. If you want to soak u...

Chinese LinkieBuy and Australian SuperiorPay launching online store to promote more brands entering China market

LinkieBuy, a Chinese cross-border e-commerce comprehensive service brand, and Australian payment ...

First Aid Training under Covid 19

There are a great many reasons you might want to do first aid training. You might work in a prof...

Perfect body shapes with safety ensuring

Body shapes with tight lifted skin and shiny appearance will make your self-confidence of the hi...

Things to Consider When Pursuing a Career Change in Your 30s

Did you know that most Australians spend one-third of their life at work? That’s a lot of time t...

Hot Travel News

A guide to choosing the right dinnerware

Everyone loves to go to a fine dining restaurant to have a nice dinner, but what is the reason tha...

7 Vital Elements to Prepare for Your First Portfolio Photoshoot

If you are building a career as a professional photographer, among the essential investments to ...

4 First Aid Skills to Teach Your Children

You may be under the impression that there’s a minimum age requirement before you can start teac...

3 Practical Tips for Renovating Your Home Without the Stress

So, you’ve finally decided to give your home a complete makeover. But the question is, are you rea...

Dental Health Care - Differences Between Sweden and Australia

When it comes to health care, some countries, like the United States, still rely on private sector...

The simple way to trade the high impact news

News trading is one of the most difficult tasks for the traders. Many novice Aussie traders have b...

Road Trips Create Unforgettable Memories – Make Sure They’re Good Memories by Following This Simple Car Checklist

Some of the best memories are made during road trips. It’s when we understand the sheer wisdom beh...

Trading attitude change over time

Do you know that your trading attitude will change over the course of time? You will first trade t...

Beat Bridezilla Stress With These Wedding Planning Tips

No formerly sane woman wants to transform into a stressed-out, snappy, infamous bridezilla in the le...

Why the US dollar is used in maximum forex transactions?

Traders who are trading in the market use many different types of currency pairs in Forex. There are...

Going on Holiday on a Budget

Like many people, you probably daydream about taking a holiday while going through the same routine ...

Preparing for Your Australia Trip By Getting in Peak Shape

Getting ready for your upcoming trip to Australia? In between the plane tickets, hotel reservations...

Park Hyatt Melbourne Launch The Winter Edition

This winter, escape the cold and visit Park Hyatt Melbourne for the ultimate night in. Located in t...

How Local Businesses Can Profit from the Cruise Ship Boom

Cruising is a lucrative, growing industry with most of the cash filling the pockets of big players -...

Matilda Joins Melbourne's Show-Stopping Theatre Line Up

Visitors will be flocking to Melbourne over the coming months as a show-stopping line up of musicals...

Writers Wanted