The 28 Major Forex Pairs You Need to Know

The 28 Major Forex Pairs You Need to Know

In forex trading, major forex pairs are the markets most people learn first and the pairs many seasoned traders still watch every day. They’re heavily traded, closely followed by analysts, and often cheaper to trade because liquidity is deeper than in less-popular markets.

One reason this topic confuses beginners is that “major” is used in two common ways. Some traders mean only the USD-based majors (like EUR/USD). Others use the term more loosely to describe the broader set of combinations among the world’s most-traded currencies often shown as a 28 major forex pairs list.

This article covers both definitions, explains how the pairs behave, and gives you a complete list you can save for your watchlist.

What are Major Forex Pairs?

The most common retail definition is simple:

Major forex pairs are currency pairs that include the US dollar (USD) and one other widely traded currency.

Because so much global trade and finance runs through USD, these pairs attract large volumes from banks, corporations, funds, and retail traders. In practice, that usually means:

• Higher liquidity, so prices can be more stable during active sessions
• Tighter spreads on many brokers (especially in normal market conditions)
• Better information flow, because macro headlines and economic calendars focus on these economies

Just remember: “major” doesn’t mean “risk-free.” Even the most liquid major forex pairs can move fast around central bank decisions or surprise inflation data.

The 7 Major Forex Pairs (USD Majors)

When most people say major forex pairs, they’re referring to these seven USD-based pairs:

1. EUR/USD
2. USD/JPY
3. GBP/USD
4. USD/CHF
5. USD/CAD
6. AUD/USD
7. NZD/USD

A quick pattern worth noticing: the US dollar appears in every one. That’s a big reason these pairs tend to dominate spreads, liquidity, and educational content online.

The Four “Traditional Majors”

You may also see a smaller “core” list called the four traditional majors:

• EUR/USD
• USD/JPY
• GBP/USD
• USD/CHF

This isn’t a different category so much as a historical emphasis. These four pairs have long been central to global FX activity, so some broker education and older resources highlight them as the “core” majors.

Major Pairs vs Minor Pairs vs Exotic Pairs

To keep your learning organised, it helps to separate the common categories:

• Major forex pairs: usually the 7 USD-based pairs above
• Minor pairs (crosses): pairs that don’t include USD but use major currencies (for example, EUR/GBP or EUR/JPY)
• Exotic pairs: a major currency paired with an emerging-market currency (for example, USD/TRY). Exotics can have wider spreads and bigger gaps during volatile periods.

This matters because the label “major” can be used differently across websites. What matters most is liquidity, spread, and how the pair reacts to news.

28 Major Forex Pairs List

If you take eight widely traded “major” currencies of the USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD and create every unique pairing between them, you get 28 total combinations (8 × 7 ÷ 2 = 28). Many people refer to this set as the 28 major forex pairs list, even though some of the pairs are technically “crosses” under the classic definitions.

Below is the full list, grouped so it’s easy to scan.

USD-based majors (7)

1. EUR/USD
2. GBP/USD
3. AUD/USD
4. NZD/USD
5. USD/JPY
6. USD/CHF
7. USD/CAD

EUR crosses (6)

8. EUR/GBP
9. EUR/JPY
10. EUR/CHF
11. EUR/CAD
12. EUR/AUD
13. EUR/NZD

GBP crosses (5)

14. GBP/JPY
15. GBP/CHF
16. GBP/CAD
17. GBP/AUD
18. GBP/NZD

AUD crosses (4)

19. AUD/JPY
20. AUD/CHF
21. AUD/CAD
22. AUD/NZD

NZD crosses (3)

23. NZD/JPY
24. NZD/CHF
25. NZD/CAD

CAD crosses (2)

26. CAD/JPY
27. CAD/CHF

CHF cross (1)

28. CHF/JPY

If you’re building a watchlist, this structure helps: start with the USD majors, then add a handful of crosses that match your strategy and trading hours.

Use Crosses to Confirm Relative Strength

Even if you mainly trade USD majors, a related cross can add clarity. For example, if EUR/USD and GBP/USD are both rising, that often signals broad USD weakness. Looking at EUR/GBP then helps you see whether the euro is outperforming the pound (EUR/GBP rising) or lagging it (EUR/GBP falling).

This kind of “three-chart check” can help you pick the cleaner setup and avoid accidentally doubling up on the same directional bet across multiple pairs.

How to Read a Forex Quote

Every pair is quoted as:

Base currency / Quote currency

Example: EUR/USD = 1.1000 means 1 euro = 1.10 US dollars.

• If EUR/USD rises, EUR is strengthening versus USD.
• If EUR/USD falls, USD is strengthening versus EUR.

This base/quote logic becomes especially helpful once you compare multiple majors or use crosses to confirm relative strength.

What Typically Moves Major Forex Pairs?

While each pair has its own “personality,” most majors respond to a few repeating drivers:

1) Central banks and interest-rate expectations

Markets move on changes in expected policy, not only the rate decision itself. Statements, press conferences, and forward guidance can all trigger sharp repricing.

2) Inflation, wages, and employment data

CPI releases, wage growth, and jobs reports matter because they influence expectations for future rate moves.

3) Risk sentiment and macro themes

In periods of uncertainty, some currencies (often JPY and CHF) can attract “risk-off” demand, while currencies like AUD and NZD may be more sensitive to global growth expectations. Commodity narratives can also matter, especially for CAD and AUD.

When Are Major Forex Pairs Most Active?

Forex runs 24 hours a day (weekdays), but liquidity clusters around major financial centers:

• London session: often the deepest overall liquidity for many pairs
• New York session: heavy USD flow and frequent high-impact releases
• London–New York overlap: commonly the most active window for several USD majors

If your strategy relies on tight spreads and quick execution, these windows can be a meaningful advantage. For longer-term trading, the bigger focus is usually on upcoming news risk rather than the exact hour.

Keeping Your Focus

A simple way to avoid overwhelm is to focus on one to three major forex pairs at first enough to learn patterns without jumping between too many charts.

• For a widely followed benchmark: EUR/USD
• For rate-sensitive moves: USD/JPY
• For commodity-linked themes: USD/CAD or AUD/USD

And one caution that belongs in every beginner plan: traders should also check which is the most volatile forex currency pair on their watchlist and size positions accordingly. Volatility changes over time, but pairs with large average ranges, often including fast-moving crosses like GBP/JPY in active markets, can amplify both profits and losses.

Conclusion

Major forex pairs sit at the center of global currency trading because they combine high liquidity, strong information coverage, and clear macro drivers. If you want the classic definition, start with the seven USD majors. If you want a broader universe of major-currency combinations, the 28 major forex pairs list gives you every unique pairing among USD, EUR, GBP, JPY, CHF, CAD, AUD, and NZD.

Whichever list you use, the goal is the same: keep your watchlist manageable, understand what moves your chosen pairs, and respect volatility, especially around high-impact news.

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