Here's a quick and comprehensive guide on how you can read currency pairs as a forex trader!
As usual my objective is to simplify all aspects of trading, so that even someone who has never seen a chart before, can make sense of the topic at hand.
Let's get into it -
Currency pairs are a combination of 2 different currencies and we can trade them based on how...
Currently, USD benefits from two forces that build up sentiment worth mentioning, the Peace Summit and the FED meeting. However, powers are already fainting.
Buying power of both currencies is exceeding selling power, however in USDJPY (UJ) there can only be one the strongest. So here it may look JPY is being sold mainly but it's merely aiming down because in...
This is how I evaluate the strength of currency and guage on their correlations.
I do it every weekend and look at how strong the trend of particular currency pairs are.
XXX/USD: Bullish
Gold & Silver: Bullish
XXX/JPY: Bullish
USD/XXX: Bearish
Indexes: Very Bullish
Trade Safe,
s0nic
This is how I evalutate the strength of currency and guage on their correlations.
I do it every weekend and look at how strong the trend of particular currenyc pairs are.
xxx/USD pairs: Slightly Bearish
Gold & Silver: Very Bearish
xxx/JPY pairs: Bullish
USD/xxx pairs: Mixed (USD/CHF is bullish, USD/CAD is bearish)
Stock Indexes: Mixed (USD index is slightly...
