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
How to Acquire New Clients Using Content MarketingGo to article >>
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.
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 email@example.com