RECOMMENDED CURRENCY PAIRS

It is important to keep in mind that you will be a much more successful trader if you concentrate on only a few currencies to trade rather than all the available ones. Just like the stock market, when you start worrying about 40,000-plus stocks, it is hard to find the right currency pair to trade.
Limit yourself and become an expert on just a few currencies you want to trade.



Currency that trades against the U.S. dollar is the most popular. It is the most liquid and volatile, which allows you as a trader to have a better opportunity to make a profit. In addition to the currency pairs, there are also cross-currency pairs.
Instead of trading against the U.S. dollar, one foreign currency trades against another non-U.S. currency, for example:
(EUR/CHF)
(CHF/JPY) 

There are many different ones, but again, stay focused and concentrated on the U.S. cross-currency pairs. As you may have noticed, currencies are displayed, for example, as EUR/USD.
An easy way to remember which currency is the base currency is to look at how they are displayed. The currency in front, such as the EUR above, will be the one that is going up in value if the currency pair is going up, and if the currency pair is going down, then the EUR would be getting weaker.

Thus, if the EUR/USD goes up in price, then the EUR is getting stronger against the dollar, and it takes more U.S. dollars to equal a euro. The same thing is true in reverse if the EUR/USD goes down. Whenever you have a currency pair that is at 1.00 even, then it is considered to be in parity.This is when one U.S. dollar would equal one euro.