What are the 10 major forex pairs? And their nicknames (2024)

Have you ever wondered which currency pairs dominate the trade winds? What makes these pairs the stalwarts of the market, and why do traders flock to them with such consistency? In 2024, the answers lie not just in the liquidity or the tight spreads, but in the legacy and stories these pairs carry—reflected in their nicknames that echo through the halls of TradingView’s esteemed broker platforms. “Fiber” for the EURUSD, the robust “Cable” for GBPUSD, or the ever-vigilant “Yen” for USDJPY; each moniker carries with it tales of economies intertwined and the pulse of the global financial heartbeat.

But which brokers on TradingView have mastered the art of harnessing these major pairs? Which platforms have risen to the top, offering the best tools, insights, and user experience for traders in 2024? While the names of these platforms are reserved for those who dive into the depths of TradingView, they are the crème de la crème, recognized for their excellence and for empowering traders to navigate the forex market with precision and acumen.

Imagine a world where your trading strategy is backed by the best that technology has to offer, where each major pair is a path to potential profits, and where your chosen broker on TradingView is your steadfast ally. Are you ready to explore which brokers have claimed the top spots this year?

28 most traded Forex currency pairs by volume in 2024

In the Forex market, the most traded currency pair is EUR/USD, accounting for approximately 27.95% of the total volume, reflecting its significance due to the large economies of the US and the European Union. Other key pairs include USD/JPY and GBP/USD, highlighting the major role of the US dollar, which is involved in over 50% of all trades. Currency pairs are chosen for their liquidity and the economic stature of the corresponding countries, with traders favoring these pairs for better trading conditions and the necessity of portfolio diversification.

Beyond the leading trio of EUR/USD, USD/JPY, and GBP/USD, other significant pairs like AUD/USD, USDCAD, and USDCHF are pivotal, each contributing to the global Forex turnover with unique economic backdrops influencing their trading volumes. For instance, AUD/USD, tied closely to commodity prices, and USDCAD, influenced by oil dynamics, underline the diverse factors affecting Forex markets.

Minor and exotic pairs, although less traded, serve crucial roles for traders seeking diversification or interested in specific economic regions. Pairs such as EURJPY and USDHKD lead their respective categories by volume, offering insights into broader economic trends and trader sentiment towards different global markets. Discover Inner Circle Trader Forex Approach: Mastering Euro/Dollar trading.

What are the 10 major forex pairs?

The major Forex pairs that dominate trading volume and liquidity in the market are EUR/USD, known as the most traded currency pair representing the Eurozone and the United States; USD/JPY, showcasing the relationship between the United States and Japan; GBP/USD, pairing the British pound with the US dollar and known as “Cable”;

AUD/USD, the Australian dollar paired with the US dollar, reflecting the trade dynamics of these economies; USD/CAD, which pairs the US dollar against the Canadian dollar and is influenced by oil prices and trade relations; USD/CHF, matching the US dollar with the Swiss franc and known for its stability and safety; NZD/USD, the New Zealand dollar versus the US dollar, often influenced by commodity prices; EUR/GBP, reflecting the economic relationship between the Eurozone and the United Kingdom; EUR/JPY, the Euro paired with the Japanese yen, offering insights into the economic conditions of the Eurozone and Japan; and GBP/JPY, a volatile pair that matches the British pound with the Japanese yen, popular for its significant price movements. Discover what Forex Pairs move the most.

DXY: US Dollar Index

The “Dixie” represents the US Dollar Index, crucial for gauging the dollar’s strength against a basket of major currencies. It’s a key indicator for investors looking to gain insights into the overall direction of the dollar.

Example: If the DXY rises, it generally indicates a strengthening of the US dollar against the currencies in its basket, directly influencing all currency pairs involving the dollar.

• 00. DXY (Dixie) – US Dollar Index, a measure of the value of the United States dollar relative to a basket of foreign currencies.

Majors Forex Pairs

The “Majors” are the most liquid pairs in the Forex market, representing the world’s largest economies. The most liquid among these are EUR/USD, USD/JPY, and GBP/USD, thanks to their economic stability and high trading volume.

Example: EUR/USD is the most traded pair, reflecting the economic and trade relationship between the Eurozone and the United States. Its high liquidity makes it attractive for speculation and lowering transaction costs.

1. AUD/USD (Aussie, Ozzie) – Australian Dollar/United States Dollar
2. EUR/USD (Euro, Fibre) – Euro/United States Dollar
3. GBP/USD (Cable) – Great Britain Pound/United States Dollar
4. NZD/USD (Kiwi) – New Zealand Dollar/United States Dollar
5. USD/CAD (Loonie, The Funds, Beaver) – United States Dollar/Canadian Dollar
6. USD/CHF (Swissy) – United States Dollar/Swiss Franc
7. USD/JPY (Ninja, Yen?) – United States Dollar/Japanese Yen

GBP Crosses Forex Pairs

“GBP Crosses” involve the British pound and other major currencies excluding the US dollar. These pairs are popular for their volatility and trading opportunities arising from economic events in the UK.

Example: GBP/AUD reflects the trade and economic relationship between the United Kingdom and Australia, with price movements that can be influenced by political or economic changes in either country.

8. GBP/AUD – Great Britain Pound/Australian Dollar
9. GBP/CAD – Great Britain Pound/Canadian Dollar
10. GBP/CHF – Great Britain Pound/Swiss Franc
11. GBP/NZD – Great Britain Pound/New Zealand Dollar

JPY Crosses Forex Pairs

“JPY Crosses” include the Japanese yen and other major currencies, excluding the US dollar. These pairs are known for their volatility, especially during the Asian sessionThe Asian session, which primarily starts at 8 p.m. New York time, can be a good time to trade certain... More, offering diverse trading opportunities.

Example: EUR/JPY is influenced by differences in monetary policy between the European Central Bank and the Bank of Japan, as well as shifts in global risk appetite.

12. AUD/JPY – Australian Dollar/Japanese Yen
13. CAD/JPY – Canadian Dollar/Japanese Yen
14. CHF/JPY – Swiss Franc/Japanese Yen
15. EUR/JPY (Euppy, Yuppy) – Euro/Japanese Yen
16. GBP/JPY (Geppy, Gopher, Guppy) – Great Britain Pound/Japanese Yen
17. NZD/JPY – New Zealand Dollar/Japanese Yen

Euro Crosses Forex Pairs

“Euro Crosses” comprise the euro paired with other major currencies, excluding the US dollar. They offer a variety of trading opportunities based on the economic dynamics of the Eurozone versus other economies.

Example: EUR/GBP, also known as the “Chunnel,” is particularly influenced by economic news from both the Eurozone and the UK, with volatility that can spike during key events like interest rate decisions.

18. EUR/AUD – Euro/Australian Dollar
19. EUR/CAD – Euro/Canadian Dollar
20. EUR/CHF – Euro/Swiss Franc
21. EUR/GBP (Chunnel) – Euro/Great Britain Pound
22. EUR/NZD – Euro/New Zealand Dollar

Other Crosses

“Other Crosses” are currency pairs that do not include the US dollar, offering trading diversity and the opportunity to speculate on emerging or less common currencies.

Example: AUD/NZD reflects the economic and trade relationship between Australia and New Zealand, with price movements that can be driven by differences in interest rates or commodity exports.

23. AUD/CAD – Australian Dollar/Canadian Dollar
24. AUD/CHF – Australian Dollar/Swiss Franc
25. AUD/NZD – Australian Dollar/New Zealand Dollar
26. CAD/CHF – Canadian Dollar/Swiss Franc
27. NZD/CAD – New Zealand Dollar/Canadian Dollar
28. NZD/CHF – New Zealand Dollar/Swiss Franc

Each of these pairs and the US Dollar Index (DXY) play a significant role in the Forex market, offering various trading opportunities based on geopolitical, economic, and market sentiment factors. The nicknames provide a colloquial way to reference these pairs, making it easier for traders to communicate about market conditions and strategies.