Daily Forex Market Update: New Focus on Currency Pairs
- In our daily market update by our fairly new guest blogger, John Putman II, we'll learn what currency pairs he 's focusing on after putting aside currency pairs associated with the CHF. How has your trading strategy changed since last Thursday? Leave us a comment after the blog post.
ABOUT THE AUTHOR: John Putman II is a full-time trader and managing member at FX Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, a third-party research provider focused on exchange rate modeling, economic complexity, genetic programming and distributive computing
This morning there are fourteen primary signals in my pre-trade matrix, seven of these have cyclical support, four are CHF-based pairs which are highly correlated and listless right now. I’m going to stay out of those for a bit. This leaves me the EUR/CAD, GBP/JPY and USD/CAD for further review. Correlation between the EUR/CAD and the USD/CAD is .56 so I’ll likely drill into one or the other to keep unintentional Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term to a minimum. There is no advantage between those two on the spread on my platform so it will come down to a review of the price action and relationships to support and resistance targets.
This article is part of the Forex Magnates Community project. If you wish to become a guest contributor, please get in touch with our Community Manager and UGC Editor Leah Grantz leahg@forexmagnates.com
ABOUT THE AUTHOR: John Putman II is a full-time trader and managing member at FX Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, a third-party research provider focused on exchange rate modeling, economic complexity, genetic programming and distributive computing
This morning there are fourteen primary signals in my pre-trade matrix, seven of these have cyclical support, four are CHF-based pairs which are highly correlated and listless right now. I’m going to stay out of those for a bit. This leaves me the EUR/CAD, GBP/JPY and USD/CAD for further review. Correlation between the EUR/CAD and the USD/CAD is .56 so I’ll likely drill into one or the other to keep unintentional Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term to a minimum. There is no advantage between those two on the spread on my platform so it will come down to a review of the price action and relationships to support and resistance targets.
This article is part of the Forex Magnates Community project. If you wish to become a guest contributor, please get in touch with our Community Manager and UGC Editor Leah Grantz leahg@forexmagnates.com