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Forex cross trading or walk through uncrowded trails


      To begin with, let's refresh your memory on the definition of crosses.
      - Forex crosses are currency pairs that do not have a dollar component.
      In other words, crosses do not imply any dependence on the American dollar in forex trading.
      Of course, the dollar is the world's reserve currency and will remain so for a long time. Oil is traded only in dollar prices, almost all countries for different mutual settlements use dollar equivalent, valuation of big corporations and companies is also made in US dollars. Of course, this is correct, because there should be some relative world reference point, a kind of SI system of financial matters.
      Maybe, it is the wish to touch something big and great that the majority of traders choose EURUSD and GBPUSD pairs for trading at Forex, without considering earning on other market instruments. This choice narrows their horizons. Besides that, they strongly depend on news, which are quite significant for these major currency pairs. It is hardly possible to guess which way the market will go in the minutes of news publications. Of course, nobody cancelled technical analysis of forex, and all of the planned plans will work out for long-term strategies, but how many stops are closed or deposits are reaped exactly at these moments of news release.
      Moreover, both EURUSD and GBPUSD are just working tools, two currency pairs. They also move according to the laws of the market, having an impulse component of movement (trend) and a correction component (flat).
      Advantages of trading cross pairs on Forex
      What should a trader do if there are long term corrections? Wait out of the market? Most of them start inventing entries and exits, deviating from the rules of Forex earning strategy just to be in the trade. Naturally, it all ends badly. Wouldn't it be easier to look at other instruments? Take a closer look at crosses?
      The world forex statistics shows that there are still popular instruments devoid of a dollar component.
      Popular Forex crosses
      First of all they are pairs GBPJPY and EURJPY.
      GBPJPY is certainly a "scary" cross. To pass 100-200 pips within a session is not a problem. As a disadvantage we can refer long stops, even in trading on the 5-minute charts. But, this pair has some pluses. In addition to high volatility, the instrument has the property of a "flywheel", which is difficult to get wound up at first, and then it is equally difficult to stop. If you go, you go. The trader just needs to find the direction in which this cross moves. And it would be quite sad to be on the opposite side.
      In terms of calmness, EURJPY is, of course, better. It may not go so far and fast, but the dynamics of the instrument is even, analyzable and not so dependent on different news. You can easily see this by looking at the pair's chart. Only AUDJPY is "calmer" than it.
      EURGBP is a little bit less popular among the traders around the world. It is also very interesting instrument with larger lot and pip size than usual currency pairs. Though, due to strong dependence on news the cross is quite "noisy. This instrument is more suitable for the mid-term trading.
      And on the other hand, its "colleague" EURCHF, in my opinion, spends most of the time in the flat movement. Also NZDAUD is not very interesting, although with this instrument, though sometimes, but it is possible to work. Surely, every trader can find an interesting currency pairs for trading without the dollar component.
      In my article, I do not urge traders to forego trading in Forex in exchange rates of EURUSD and GBPUSD. No. I just want to say that these pairs are just two instruments that are present in any broker's terminal. And there is no sense to refuse all of the diversity of Forex crosses, especially because all of them are absolutely free. You just need to look more deeply into trading and diversify the range of financial instruments. If a trader understands the analysis of some cross pair, this will bring him some extra income, and who can be against profit?

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