ForexExperts.net ResearchMinor or Cross-Currency Pairs

 

What are the Minor Pairs?

Minor Pairs or Forex Crosses are Forex pairs that do not contain the US Dollar. Some of the minor pairs are very popular and very active in the Foreign Exchange market.  The most active minors include Euro on one side (EURGBP, EURJPY, and EURCHF).

» Learn about the Forex Majors 

1. EUR/GBP

Description: Euro (EUR) to British pound sterling (GBP)

  • Market Share (BIS): 31.3% vs 12.8%
  • Central Banks Involved: » ECB against the » BoE
  • Total reserves (including gold): 565 billion USD vs 130 billion USD

EURGBP INFORMATION

The cross rate of EUR to GBP is referred as the ‘Chunnel’ because of the Channel Tunnel that connects UK and Europe. Despite EURGBP is not a Forex Major, it is a very liquid Forex pair. Global brokers offer EUR/GBP in very tight spreads and that makes it a very popular choice for day traders and scalpers.

(↑) Historical High: 0.9805 (2008)

(↓) Historical Low: 0.5678 (2000) – 0.3380 (1953)

EURGBP KEY FACTS

  • Euro (28%) is the second most held reserve currency in the world, while the British Pound Sterling (4%) is the third
  • The Euro area and the UK are very close trade partners
  • Germany is the UK''s largest single-country trading partner
  • The British exports to Eurozone account 59.7 billion USD
  • The Eurozone’s exports to the UK account 56.5 billion USD

TRADING EURGBP

  • EUR/GBP is the most liquid Forex Minor
  • The most active hours to trade the EUR/GBP occur between 12.00 and 16.00 GMT
  • EURGBP average daily volatility (50 weeks) is 1.10% or 93.79 pips

 

2. EUR/JPY

Description: Euro (EUR) to Japanese yen (JPY)

  • Market Share (BIS): 31.3% vs 21.6%
  • Central Banks Involved: » ECB against the » BoJ
  • Total reserves (including gold): 565 billion USD vs 1,233 billion USD

EURJPY INFORMATION

EURJPY or else the ‘Euppy’ or ‘Yuppy’ is a very popular Forex minor based on the vast economic size of the European and the Japanese economies.

(↑) Historical High: 402.49 (1975)

(↓) Historical Low: 88.87 (2000)

EURJPY KEY FACTS

  • Euro and Yen combined account 32% of all global currency reserves
  • The Japanese economy is the 3rd largest in the world (4.1 trillion USD GDP)
  • Japan is holding the second largest amount of foreign reserves worldwide (after China)
  • The Japanese exports to Eurozone account 7 billion USD
  • The Eurozone’s exports to Japan account 56.5 billion USD

TRADING EURJPY

  • EURJPY is highly correlated to USDJPY
  • EURJPY enjoys considerably large liquidity and very tight trading spreads
  • EURJPY average daily volatility (50 weeks) is 1.09% or 134.54 pips

 

3. GBP/JPY

Description: British pound sterling (GBP) to Japanese yen (JPY)

  • Market Share (BIS): 12.8% vs 21.6%
  • Central Banks Involved: » BoE against the » BoJ
  • Total reserves (including gold): 130 billion USD vs 1.233 billion USD

GBPJPY INFORMATION

GBPJPY or else the ‘Geppy’ or ‘Gopher’ is a heavy-traded and volatile Forex pair. GBPJPY daily movements can be intense (more than 250 pips).

(↑) Historical High: 864.77 (1971)

(↓) Historical Low: 116.79 (2011)

GBPJPY KEY FACTS

  • The United Kingdom has the fifth largest economy in the world while the Japanese economy is the third largest in the world
  • London is the largest financial center in the world (37% of all daily foreign exchange transactions)
  • Japan is holding the second largest amount of foreign reserves worldwide (after China)

TRADING GBPJPY

  • GBPJPY average daily volatility (50 weeks) is 1.57% or 227.02 pips

 

4. EUR/CHF

Description: Euro (EUR) to Swiss franc (CHF)

  • Market Share (BIS): 31.3% vs 4.8%
  • Central Banks Involved: » ECB against the » SNB
  • Total reserves (including gold): 565 billion USD vs 602 billion USD

EURCHF INFORMATION

The Euro to Swiss Franc or else the ‘Euro-Swissy’ consist a liquid Forex cross. The two currencies are highly correlated to its other and that explains the tight daily volatility of EURCHF.

(↑) Historical High: 4.5194 (1953)

(↓) Historical Low: 0.8696 (2015)

EURCHF KEY FACTS

  • The Swiss Franc is the official currency of Switzerland, Lichtenstein, and Campione d'Italia
  • Switzerland is a global financial center. Zurich is the center for retail banking and insurance while Geneva is the center for private banking and wealth management
  • Switzerland is the 4th largest trading partner of Eurozone
  • Swiss exports to the EU include mainly chemicals and medicinal products, machinery, and watches

TRADING EURCHF

  • The Euro and the Swiss Franc are the 2nd and 6th most heavily traded currencies worldwide
  • According to the OECD, the CHF is the most over-valued Forex currency (24.3%) between all the majors
  • EUR/CHF is highly correlated to USD/CHF
  • EURCHF average daily volatility (50 weeks) is 0.65% or 69.06 pips

 

5. GBP/CHF

Description: British pound sterling (GBP) to Swiss franc (CHF)

  • Market Share (BIS): 12.8% vs 4.8%
  • Central Banks Involved: » BoE against the » SNB
  • Total reserves (including gold): 130 billion USD vs 602 billion USD

GBPCHF INFORMATION

GBP/CHF is highly influenced by the monetary policies of the two central banks involved (Bank of England and Swiss National Bank). Although both the two currencies are highly correlated to Euro, GBPCHF is a very volatile Forex cross.

(↑) Historical High: 10.4057 (1971)

(↓) Historical Low: 1.1320 (2015)

GBPCHF KEY FACTS

  • London is the largest financial center in the world (37% of all daily foreign exchange transactions)
  • The Swiss Franc is the official currency of Switzerland, Lichtenstein, and Campione d'Italia
  • Switzerland is the 3rd largest UKs partner (32.2 billion USD), the UK shows a trade surplus of $22.5 billion
  • After China, Switzerland is the highest growth market for UK exports
  • Switzerland is the fastest growing importer of services from the United Kingdom
  • Switzerland is the UK’s 8th largest foreign direct investor (£39 billion stock value).

TRADING GBPCHF

  • The mid-term trend of GBPCHF is strongly influenced by the policies of the two central banks involved
  • Switzerland's franc is considered a ‘safe heaven’ during times of financial turmoil
  • GBPCHF average daily volatility (50 weeks) is 1.27% or 159.87 pips 

 

TRADING THE FOREX MINORS -COMPARE FX BROKERS

ECN Brokers offering the best trading terms for trading the Forex Minors (Regulation, Spreads, Free VPS, etc.)

FOREX BROKER

TRADING TERMS

ACCOUNTS

INFO

FXCC

» FXCC WEB-SITE

 

US TRADERS: NO

ISLAMIC ACCOUNTS: YES

EXECUTION: ECN / STP

SPREADS

EURGBP: 2.6 pip

EURJPY: 2.4 pip

EURCHF: 2.5 pip

GBPJPY: 3.2 pip

COMMISSIONS: Included

SCALPING: YES

AUTOMATED TRADING: YES

SLIPPAGE: 1.6 pip

LEVERAGE: 1:300

PLATFORMS:

MetaTrader4, Sirix WebTrader, MAM Platform, Mobile Traders, FIX/API

MIN. DEPOSIT: $100

DEPOSIT FUNDS:

  • Credit Cards
  • Bank Wire
  • Skrill
  • WebMoney
  • Neteller

BONUS: 100% Credit Bonus

REBATES: 0.5-0.6 pip via Forex-Rebates.com

KEY POINTS

  • Good Promotions
  • NY4 Equinix server facility

 

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Open a Demo account with FXCC

 

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HOTFOREX

» HOT FOREX WEB-SITE

 

US TRADERS: NO

ISLAMIC ACCOUNTS: YES

EXECUTION: STP / ECN

SPREADS

EURGBP: 0.8 pip

EURJPY: 0.7 pip

EURCHF: 0.9 pip

GBPJPY: 2.3 pip

COMMISSIONS: $10 / lot

SCALPING: YES

AUTOMATED TRADING: YES

SLIPPAGE: 0.55 pip

LEVERAGE: 1:1,000

FREE VPS: For deposits over $5,000

PLATFORMS:

MetaTrader4, Sirix WebTrader, MAM Platform, Mobile Traders

MIN. DEPOSIT: $10

FUND METHODS:

  • Credit Cards
  • Bank Wire
  • MoneyBookers
  • Neteller
  • iDeal
  • Union Pay
  • Sofort
  • Netbanx
  • TrustPay

BONUS: 30% Rescue Bonus

REBATES: $6.4 / lot via Forex-Rebates.com

KEY POINTS

  • Popular PAMM accounts
  • Free VPS for all traders holding more than $5,000
  • Many Trading Contests
  • Currenex Account

 

Visit HotForex

 

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IC MARKETS

» IC MARKETS WEB-SITE

 

US TRADERS: NO

ISLAMIC ACCOUNTS: YES

EXECUTION: ECN / STP

 

 

SPREADS

EURGBP: 0.5 pip

EURJPY: 0.6 pip

EURCHF: 0.6 pip

GBPJPY: 1.2 pip

COMMISSIONS: $7.0 / lot

SCALPING: YES

AUTOMATED TRADING: YES

SLIPPAGE: 2.0 pip

LEVERAGE: 1:500

FREE VPS: YES (100 round turn lots per calendar month are required)

PLATFORMS:

MetaTrader-4, MetaTrader-5, MT4 for iPhone and Android, cTrader, Mobile cTrader cAlgo

MIN. DEPOSIT:

$200 for MT4 account and $1,000 for cTrader account

FUND METHODS:

  • Bank Wire
  • Credit Card
  • Skrill
  • Webmoney
  • Neteller

BONUS: NO BONUS

REBATES: $1.2 / lot via Forex-Rebates.com

KEY POINTS

  • Tight Spreads
  • cTrader and cAlgo plus MT4
  • Low latency

 

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Register a Real ECN Account with IC MARKETS

 

Review IC Markets

 

 

TALLINEX

» TALLINEX WEB-SITE

US TRADERS: YES

ISLAMIC ACCOUNTS: YES

EXECUTION: ECN

SPREADS

EURGBP: 1.6 pip

EURJPY: 1.6 pip

EURCHF: 2.2 pip

GBPJPY: 2.2 pip

COMMISSIONS: $6.0 / lot

SCALPING: YES

AUTOMATED TRADING: YES

SLIPPAGE: 2 pip

LEVERAGE: 1:500

FREE VPS: YES (5 Lots minimum monthly volume is required)

PLATFORMS:

MT4 for PC, MAC and Linux, PAMM and Mobile Traders

MIN. DEPOSIT:

$100 for ECN Micro and $2,000 for ECN Pro

FUND METHODS:

  • Bank Wire
  • Credit Cards

BONUS: 100% Credit Bonus

REBATES: Contact Forex-Rebates.com

KEY POINTS

  • US traders
  • Good SWAP rates
  • PAMM Accounts
  • Welcome Bonus

 

Tallinex Demo-Account

Tallinex Real-Account

 

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Fx Trade Strategies: » Breakout Strategy | » Carry Trading | » Forex Correlations | » Forex Fundamentals

 

 

Forex Minors

George Protonotarios, Financial Analyst

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■ THE MAJOR PAIRS

 EURUSD |  GBPUSD |  USDJPY |  USDCHF

AUDUSD |  NZDUSD |  USDCAD

■ KEY FOREX CROSSES

EURGBP |  EURJPY |  EURCHF |  EURCAD

EURAUD |  EURNZD |  GBPJPY

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