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When you are trading currency pairs in the Forex market, there are some external forces that govern price movements. News,interest rates, market direction, and economic conditions. You have to consider these external factors.. There are two correlations which involves positive and negative correlations.
When you are trading currency pairs in the Forex market, there are some external forces that govern price movements. News,interest rates, market direction, and economic conditions. You have to consider these external factors.. There are two correlations which involves positive and negative correlations.
http://www.futuresmag.com/2012/06/01/currencies-and-correlations
Abe Confas is a great binary options FX trader. Here is talks about correlations in the FX market.
Here is his first paragraph
"Just as a trader needs to watch for shifts in market sentiment, he also should watch for shifts in inter-market correlations. Though there are logical fundamental reasons for these correlations, they do shift from time to time. For example, crude oil/Canadian dollar and copper/Aussie dollar often move together and gold/S&P 500 often are correlated negatively. These pairings make sense because the currency-commodity connection is a major driver of market movements. The global economy drives expectations and capital flows. "
He goes on to discuss CAD and OIL, Gold and SPX, JPY/Gold
This is what I found in CodeBase - MFCS Currency Correlation Chart (any pairs in separated window).
This is a very good indicator to show correlation. https://www.mql5.com/en/market/product
This is a very good indicator to show correlation. https://www.mql5.com/en/market/product
This is a very good indicator to show correlation. https://www.mql5.com/en/market/product