Thursday, 18 May 2017

Currency pairs to follow on 18th May 2017

BUY:
EURJPY, D
USDCAD, D
EURAUD, D

SELL:
AUDUSD, D
AUDJPY, D

I'm following above mentioned pairs for the coming days until the trade opportunity fades away.

Trying to show you one little technique to identify trend of a pair-

Look, two cross pairs- EURJPY is in uptrend and AUDJPY is in down trend by creating lower high and lower lows. If we relate these two pairs and remove JPY, we get EURAUD pair. Logically it should be in an uptrend as EUR is stronger than JPY and AUD are weaker than JPY.

And EURAUD really is in an uptrend. I've kept it on the BUY trade list.

So you can use such technique for confirmation of your analysis. If you can compare two currencies of a pair with another common currency, you'll get the direction of movement of the primary pairs. Here if I want to elaborate this with the above-mentioned example-

Currency pair in question - EURAUD
The strength of both the pair against JPY, you're going to get an easy and clear picture.


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