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FX Correlations


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Trading FX these are the sort of indicators you need, matching what is currently strong vs what is weak, not stuff on patterns and macd, rsi or whatever.

The first pic is from Nov and out of date but the second is of yesterday, maybe I should include something like this in the daily dashboard?

Vote a like for yes or a sad for don't bother.

image.png.12c6ac2168b780242c6376c5f9a4f23d.png

image.png.a64a28bc4cbd00cf24da97dbf52a1ed5.png

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5 minutes ago, dmedin said:

No TA for currency pairs?

The key as always is to avoid chop and get aboard directional moves. In any market when price is bouncing around in a tight range an auction is taking place, once the auction is finished (run out of either buyer or sellers) price must start a range expansion phase to find a new level for the auction to restart. It's those range expansion moves that you are looking to ride.

Matching strong vs weak currencies means directional moves are more likely and more reliable but you would still need to apply some sort of TA to trigger your entries (breakouts and pullbacks).

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Years ago there was a dedicated web site that plotted individual currency relative strength on a chart but has since closed down. I'm looking at a couple of indicators that do a similar job like the one below but need the market to open to load them. 

Most correlation charts look to compare currency pairs but it's not the same thing.

image.png.2b8d29d12ce25690cc0507b5da8d0511.png

There is also pair strength which can also useful;

image.png.a27f4b239aa0cecb2676f5290a394048.png

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