Summary of Currency Crosses

As you can see, there are many, many trade opportunities presenting themselves in the foreign exchange market other than figuring out what the Greenback will do any given day - and now you know how to find them! Just remember a few things:

• Do your due diligence/analysis and match the weak currencies with strong currencies.
• What if the pair you are looking to trade is not available with your broker, no sweat right? You now know how to create synthetic pairs by simultaneously going long or short two major pairs to create one currency cross.
• Last tip; please be conscientious of the pip value of the cross you are trading. For example, a standard lot (100,000 units) of EUR/GBP will be approximately $19.70 per pip. Some crosses will have a higher or lower pip value than the majors. This information is good to know for your risk analysis.
• So, on the days you many not see any opportunities in the major pairs, or if you want to avoid the volatility of a US news event, check out some the currency crosses. You may never know what you may find! Good luck!