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Myles

Which currencies are best suited for Forex scalping?

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Hello Myles,

Scalping is one trading style that a trader can use to generate profit. The profit or the loss you will make will highly depend on the degree of volatility in a currency pair. You need to evaluate the features in a currency pair and the pros and cons of using it before selecting it as your scalping currency.
One good currency pair you can use for scalping is the Euro/USD and the pound and the USD These two currencies have low spreads and are highly liquid. They are also the most used currencies in the world. They are allowed in various Forex trading strategies, such as scalping. The Euro and the U.S. Dollar will help you generate a good profit while you are scalping.
CAD/USD and AUD/USD are other good currency pairs for scalping. Scalping using these currencies is mostly suited during the night. Most often, only the professionals trade using this currency pair.
You can also use the Japanese Yen for scalping in a Forex market. The Japanese Yen can be paired with the Euro, the British Pound, and the U.S. Dollar. Other than pairing it with the USD, the other pairs are cross-rates if the market volatility increases, and there is a great change in the prices.
The high volatility can enable you to make more transactions that will increase your profit.
 

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