DislikedHi guys, do you all look at other heavily-correlated pairs (such as EUR/USD, USD/CHF, USD/JPY and DXY) when trading gold? I just took a look and I think EUR/USD is going up and USD/CHF is going down. This should mean gold will make a rocket up...I think. Also, does USD/CHF or USD/JPY co-relate more with gold? Thank you.Ignored
I personally don't look at any pairs when trading gold, the only situation when i do like to look at other pairs is when there is a high impact event to determine if something is market manipulation( for example, something like stop loss hunting) or not. I like to check out S&P 500 for reference.
I tend to have much better results when not getting carried away by looking at other pairs, sometimes what happens is you get too caught up in the other pair and forget to focus on gold itself. That's why i prefer to stay away from that.
However, if you are interested in studying inter correlation, here's a live correlation table in which you can compare any popular forex asset: https://www1.oanda.com/forex-trading...cy-correlation
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