What is currency?
Are you trading with binary options? If you are, then we are sure you are familiar with the vast amount of currency pairs offered by many brokers worldwide. The term currency describes specific country and its economy. The value of each currency is based on economic differences of two economies you are comparing. In other words, currency is always going to be determined by its comparison to another currency you want to compare it. First currency is set as base currency and second currency pair is quote currency. Most important currency pairs are: GBPUSD, USDCAD, EURUSD, AUDUSD, NZDUSD, USDCHF etc.
There are some currencies that are called cross currencies because they are combinations of currency pairs that are not including US dollar. More info about cross currency can be found on Investopedia. The example of currency cross pairs is EURGBP because it analyzes values between UK economy and Eurozone. There are also other currency cross pairs that are not including US dollar: AUDCAD, GBPCHF, AUDNZD etc.
Major Currency Pairs
There are some general rules when we speak about major currencies. If cross pairs are consolidating, major currencies will also react on their movement, in both directions. If you are trading manually this is important fact to know.
There is also one thing that all major currencies have in common and that is: US dollar. If you are still questioning about why is US dollar connected with other currencies and different economies, then we should remind you that US dollar is being used as world’s reserve currency.
This decision has been made in early 1944 and it is known as United Nations Monetary and Financial Conference that has gathered more than 730 delegates in a place Bretton Woods, New Hampshire. This conference has decided that besides gold, US dollar will be the international reserve currency, which is directly linked to the value of the gold.
Binary Options Robot Includes all Major Currency Pair and Important Assets
If you are still a trading newbie, and your knowledge is not on the satisfactory level, then you should consider listening to our signal providers that generate accurate binary signals by using a variety of currencies and assets from Binary Options Robot portfolio. Binary Options Robot includes:
- S&P FUTURE
Traders have the opportunity to activate or deactivate each asset which gives them more opportunities while auto trading.
*A small tip: Leaving all assets activated will give you more trading opportunities and higher profits. The robot will place more trades if you activate more assets from your portfolio.
Economic Situation has a Big Influence on Currency Pairs
A lot of things will influence on values and movement of currencies and other assets. One of the most powerful influencers is definitely economic releases. The beginning of a trend is usually happening immediately after important financial press releases are being published or announced.
This is why all professional traders are using economic calendars to get most important and latest info about happenings on different markets. Some of the most common economic news are well known NFP (Non-Farm Payrolls), US Federal Reserve, European Central Bank and other announcements released from important financial institutions.
What Should I know if I trade With Binary Options Robot?
Binary Options Robot has made binary trading much easier, and traders don’t need to know what are value expectations for each asset. Instead of traders, trading algorithms are tracking financial news and generating signals on the base of technical and fundamental analysis.
After they collect all important info, they create binary signals and send them to Binary Options Robot. When a market opportunity comes by, Robot places trade based on your preferences and received signals.
It is important to point out that all major currencies are traveling faster after economic releases are being published. This way, major currencies are starting trends.
Binaryrobot.org Updates you With Latest News
Although economic calendar and financial news are not so important for automatic trading, Binary Options Robot is trying to share knowledge and inform you about the latest news in the financial world. You can find news articles on our binaryrobot.org site each week, with most important news and trading guides that will help you become a successful trader.
Reading about latest happenings will create your own opinion about the trading certain currencies and assets. Since Binary Options Robot lets you choose which assets you want to trade, it is smart to read most important announcements from NFP and ECB expectations.
Trade With More Brokers
If you are not sure that strategy generates better signals for certain assets, you can easily deactivate those assets or choose several strategies. The best thing to do is choose a different strategy with each broker. Binary Options Robot lets you trade with multiple brokers at the same time and this is the advantage you can choose to benefit from.
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