Hi All,
I'm fairly new to the world of Forex, I've been studying it and learning for the past 4-6 months because we have funds to invest and this seemed to be (academically) up my ally. I'm enjoying the diversity and the entirity of this new venture, but I was wanting to query a few small things of no small consequence.
Proxy Pairs.
I've found the two most common proxy pairs that have been given to me by a coach to be the AUDNZD and the EURUSD. When either of these is up/down, the opposite is weakening, etc. What other pairs can be used as such? Obviously, with the EURUSD controlling more than 60-70% of the markets liquidity, using that as a base point and correlating that across other things like the GBPUSD or the EURJPY can be a very promising pointer. I wanted to know what other STRONG proxy pairs you would recommend, from past experience or general knowledge?
Currency Correlation.
Something I'm very slowly seeping my fingers into!! Stocks go down, USD goes up, Stocks go up, USD goes down. This kind of thing. Oil, gold, these things all cross over with the USD and other currencies. Things like the Dow, too (DJIA) which from memory works much like stocks against or for the USD. What are your thoughts and theories on this?
And I'm sure you'll be seeing many more related posts...
For those curious, my broker is Dukascopy (Suisse) SA. I've never used ones like FXCM or others, though I have Demo-ed a few others.
HAPPY TRADING!!
('Least that bank holiday is over)
I'm fairly new to the world of Forex, I've been studying it and learning for the past 4-6 months because we have funds to invest and this seemed to be (academically) up my ally. I'm enjoying the diversity and the entirity of this new venture, but I was wanting to query a few small things of no small consequence.
Proxy Pairs.
I've found the two most common proxy pairs that have been given to me by a coach to be the AUDNZD and the EURUSD. When either of these is up/down, the opposite is weakening, etc. What other pairs can be used as such? Obviously, with the EURUSD controlling more than 60-70% of the markets liquidity, using that as a base point and correlating that across other things like the GBPUSD or the EURJPY can be a very promising pointer. I wanted to know what other STRONG proxy pairs you would recommend, from past experience or general knowledge?
Currency Correlation.
Something I'm very slowly seeping my fingers into!! Stocks go down, USD goes up, Stocks go up, USD goes down. This kind of thing. Oil, gold, these things all cross over with the USD and other currencies. Things like the Dow, too (DJIA) which from memory works much like stocks against or for the USD. What are your thoughts and theories on this?
And I'm sure you'll be seeing many more related posts...
For those curious, my broker is Dukascopy (Suisse) SA. I've never used ones like FXCM or others, though I have Demo-ed a few others.
HAPPY TRADING!!
('Least that bank holiday is over)
|/ Dream as if you'll live forever... Live as if you'll die today. \|