correlated CURRENCIES - page 3
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Look at GBP/JPY AND EUR/JPY on the 1m. They are support correlated, but in no way shape or form do you have any sort of "edge" by looking at one instrument in deciding what the other will do. Why is that? Well because since they are correlated, they move exactly the same, almost tick for tick. Correlation only proves that this market is algo based and that volume can not be trusted once or ever.
Every major currency has a direct positive AS WELL AS negative correlation with every other major currency. The better one understands this the more accurate their outlook will become.