Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Selecting Trending Currency pair for Forex Trading

Friday, August 17, 2012 5:10
% of readers think this story is Fact. Add your two cents.



Majority of the forex traders use technical analysis approach to trade, most of these technical traders want the currency pair to follow the trend, may be up or down. When I say about forex trading there are many currency pairs available for trading. Suppose the trader want the trending currency pair, here is how to find which currencies are trending. For doing so there is a simple trick, it is if major currency pairs like EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, USDCHF and NZDUSD are trending then stick to it, if major pairs are range bound then it is always that cross currency pairs are trending strongly, like GBPJPY, EURJPY, EURCHF, EURGBP, AUDJPY, EURAUD, etc. This way you will always find the currency pairs that are trending, no matter what conditions the markets are in.

For example: If GBPUSD is showing range bound moves, then I will check GBPJPY, which must be trending and it will be more feasible to take trade on it. Just see the charts of GBPUSD and GBPJPY below, you will get the difference.

You Should Read This:


Source:


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question Razz Sad Evil Exclaim Smile Redface Biggrin Surprised Eek Confused Cool LOL Mad Twisted Rolleyes Wink Idea Arrow Neutral Cry Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.