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Major pairs: meaning in forex and gold trading

The major pairs are the most traded currency pairs, each combining the US dollar with another major currency.

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Definition

Major pairs: The major pairs are the most traded currency pairs, each combining the US dollar with another major currency.

The usual list

The majors are usually listed as EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD and NZD/USD. They have the deepest liquidity and normally the tightest spreads. Under UK and EU retail rules they also qualify for the highest leverage cap of 30:1.

Forexuro covers the seven majors plus EUR/GBP and gold. See each one on the pairs hub.

Why beginners start with majors

Lower costs, more news coverage and more predictable trading hours make majors easier to learn on. They are not less risky by nature; a leveraged major can still move against you quickly.

Worked example

A trader watching the dollar after a Fed decision can compare reactions across EUR/USD, GBP/USD and USD/JPY to see whether the move is dollar driven or specific to one currency.

Common mistakes

  • Holding several majors in the same direction, which is mostly one dollar bet.
  • Assuming majors cannot gap.

If you follow trade signals, for example the gold signals or EUR/USD signals, understanding this term helps you size and manage each trade yourself. The free Forexuro Telegram channel shares daily market updates where these ideas are used in practice.

Currency pair

A currency pair quotes the price of one currency in terms of another, such as EUR/USD, the number of dollars p...

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Cross pairs

Cross pairs are currency pairs that do not include the US dollar, such as EUR/GBP or EUR/JPY.

Read more

Correlation

Correlation measures how closely two markets move together, from +1 (in step) to −1 (opposite).

Read more

Liquidity

Liquidity is how easily a market can be bought or sold without moving the price; liquid markets have tight spr...

Read more

Tools and guides

Frequently asked questions

Is EUR/GBP a major?

It is usually called a cross or minor, because it does not include the dollar.

How many major pairs are there?

Seven is the usual count.

Education only, not financial advice. Trading forex, gold and CFDs carries a high risk of losing money, and leverage magnifies both gains and losses. Past performance is not a reliable guide to future results. Read our risk disclosure.