It is unlikely that one trading strategy will work effectively on all forex pairs. Forex pairs can have different characteristics and respond differently to market conditions, which means that different strategies may be more appropriate for different pairs.
For example, trending pairs, which are pairs that move in a sustained direction over an extended period of time, may be better suited to trend-following strategies that aim to capture gains from these sustained moves. On the other hand, ranging pairs, which are pairs that move within a relatively narrow range and do not trend in a clear direction, may be better suited to range-bound strategies that aim to capture profits from price swings within the range.
Additionally, different pairs may be influenced by different economic and political factors, which can lead to unique price behavior and make it challenging for one strategy to be effective across all pairs. For example, a pair like EUR/USD may be heavily influenced by changes in the interest rate policy of the European Central Bank, while a pair like AUD/USD may be heavily influenced by changes in the price of commodities, particularly gold and silver.
For these reasons, it is generally recommended to develop separate trading strategies for different pairs, based on their unique characteristics and behavior. This can help to ensure that the strategy is well-suited to the market conditions and that it has the best chance of producing profitable results.
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