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

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ABOUT THE AUTHOR: John Putman II is a full-time trader and managing member at FX Analytics, a third-party research provider focused on exchange rate modeling, economic complexity, genetic programming and distributive computing

 

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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 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.

19th january

 

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