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One question on many traders' minds is whether the AUD/CHF is a good pair to trade forex. The answer depends on how you view currency pairs. There are several reasons that make CHF/AUD a great pair to trade. The Swiss National Bank sets interest rates and can intervene in the market to soften or strengthen the currency, depending on what they think is right for the economy. The Reserve Bank of Australia sets its own monetary policy, which is aimed at currency stability and a 2-to-three percent inflation target.
The Swiss franc is a major reserve currency that is closely linked to the US dollar. Traders can profit from small price shifts in this pair by executing large numbers of buy and sell orders within a single trading day. However, it is crucial to know when to close a position in the forex market to limit your losses and pocket profits. Another important consideration is how long you plan to keep your positions open. Unless you plan to take a long position and hold it for a long time, it won't yield any profit.
When it comes to risk, the AUD/CHF is not for the faint of heart. The reason is that it's high volatility, and the risk is not worth it for a beginner, but seasoned traders can generate impressive profits. The AUD/CHF exchange rate is the amount of Swiss Francs it takes to buy an Australian dollar. In other words, when gold rises, the AUD/CHF tends to go up.
The Swiss franc and the Australian dollar are two of the most traded currencies. While the two have similar values, their correlations are not as strong. While USD/CHF is the fifth most traded currency pair, EUR/USD and EUR/CHF are the fourth most traded. The Swiss franc is one of the most popular pairs, but it is a bit volatile. If you're new to trading forex, it's recommended that you start small. There's a lot to learn and experience when it comes to currency pairings, and the AUD/CHF pair is certainly worth a look.
When to trade CHF? Typically, CHF trading volume increases when the equity, futures and options markets open in the U.S. The most active periods for CHF trading occur from thirty minutes before the release of economic data to one to three hours after the release. These periods overlap with the run-up to the U.S. trading day. If you're looking to make a profit, however, the trend is strong and if you're willing to take a risk, it's worth it.
The currency volatility of major currency pairs varies based on central bank agendas. The Federal Reserve releases minutes of their previous meeting at 2:00 p.m. ET, while the European Central Bank issues rate decisions at 7:45 a.m. ET. These events typically shift the price of the major pairs, so you'd do well to consider the pair's volatility before trading it.
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