[Archive] FOREX - Trends, Forecasts and Consequences (Episode 15: May 2012) - page 47
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Gold is dangerous as well as Japanese, they need a special approach ... why not work on the same pair?
Get the docent back in your branch ... before he blows your brains out with another lame-ass story ...)
Information for reflection:
Only the following instruments on M5 proved profitable on the selected TS: EUR/USD, EUR/CAD, CAD/CHF, GOLD. What are their special features and uniqueness, what connects them and what may be common features for this community? Who has any opinion?
do your research and post the result...
Why... there is a super indicator (18) that predicts the price perfectly )))...
so anything is possible.... today's news...
tomorrow is the second round in france ... if and when Hollande wins it will be hard for merkel alone )))) will add pressure to the euro ...
Margot if you have an opinion...
Gold is dangerous as well as Japanese, they need a special approach ... why not work on one pair ?
I am not considering multi-currency trading, meaning only each of them individually, out of the total number of instruments, are taking profits. Hence, there must be commonalities separating this community from other instruments, and, according to this strategy, gold does not behave more dangerously than other instruments from these four brothers, much more dangerously than all other instruments not included in the four. I haven't really considered silver. It was not present in my terminal for some reason. All others are present and considered.
i have no idea what to do with them, i do not know what to do with them.
Information for reflection:
Only the following instruments on M5 proved profitable on the selected TS: EUR/USD, EUR/CAD, CAD/CHF, GOLD. What are their special features and uniqueness, what connects them and what may be common features for this community? Who has an opinion?
Maybe you are jumping to conclusions and it's just a game of chance, fortune is turning to you on one side.
When it comes to EUR/USD I've heard some opinions that it is one of the most difficult pairs for analysis (probably because of the great amount of diverse players)
EUR/CAD and CAD/CHF = EUR/CHF, there was an opinion that it is the easiest for technical analysis
sometimes the channel strategy works well on EURCHF
CAD/CHF dominates in this pair because the CHF has low volumes (unless, of course, the CHF crisis is used as a safe haven currency)
i canadian is also related to commodity market for some reason, but i am not interested in it
Google rules.
Ketty Lyn. Daytrading in the FOREX market.
Exchange-traded commodities - gold and oil - have a significant impact on the foreign exchange market. Therefore, understanding the nature of the relationship between them and currencies will help traders assess risk and predict price movements.
The prices of gold and oil are influenced by the same fundamental factors that affect the currency market. There are four major currencies that are considered commodities/commodities - the Australian dollar, the Canadian dollar, the New Zealand dollar and the Swiss franc.
AUD, CAD, NZD, CHF have a strong correlation with the price of gold. The presence of gold deposits and the currency regulations of these countries lead to almost mirror movements. The CAD also tends to move together with oil prices, but the relation is more complicated and volatile here.....
I will not quote all of them here, my hand is tired to write
In short ...
The correlations of the above currencies with gold and oil are given.
In periods of geopolitical instability traders abandon the dollar and turn to gold as a "safe haven" for their investments, as well as to CHF, but more about that below. Therefore, if the dollar is declining, gold is rising as investors part with the declining American and invest in an exchange-traded commodity (gold).
The currency pairs AUDUSD, NZDUSD and USDCHF tend to display the movement of gold particularly strongly, as all of these currencies have a significant and natural association with the precious metal.
AUDUSD has a very strong positive correlation (0.80) to gold, hence when the price of gold rises, the AUDUSD also tends to move higher, since the value of the AUDUSD against the USD rises. The reason for this correlation is that Australia is the third largest producer of gold in the world and imports this precious metal for about USD 5 billion a year.
The New Zealand dollar - tends to follow the same path as the AUDUSD as the NZ economy is closely linked to the AU economy. The correlation of this pair with gold is also about 0.80.
The CADUSD has a stronger correlation to gold at 0.84, which is largely due to the same reasons as for the AUD: Canada is the biggest exporter of gold.
The Swiss currency also has a strong correlation with the gold price. However, the correlation of CHFUSD to the metal at 0.84 has other reasons than the AUD, CAD and NZD. Switzerland does not have large gold deposits like the AU or Canada and therefore is not a notable exporter of the metal. However, the Swiss franc is one of the few leading currencies which are still committed to the gold standard: 25% of Swiss banknotes are backed by gold reserves. It is this solid basis that explains why the CHF is seen as a "safe haven" currency in uncertain times. In times of geopolitical uncertainty, the Swiss franc tends to rise.
I will not quote the correlation for oil as I know for a fact that someone on this forum has described it in detail, I apologize - I don't remember the name of the topic and the author's name.
Information for reflection:
Only the following instruments on M5 proved profitable on the selected TS: EUR/USD, EUR/CAD, CAD/CHF, GOLD. What are their special features and uniqueness, what connects them and what may be common features for this community? Who has any opinions?
Possibly a correlation of the low TF candle and the general trend.
Perhaps, you are jumping to conclusions and it is just a game of chance, fortune has just turned to you one side
EUR/USD is one of the most difficult pairs for technical analysis (probably due to the large content of different players).
EUR/CAD and CAD/CHF = EUR/CHF, it was considered the easiest for technical analysis
sometimes the channel strategy works well on EURCHF
CAD/CHF dominates in this pair because the CHF has low volumes (unless, of course, the CHF crisis is used as a safe haven currency)
i canadian is also related to commodity market for some reason, but i am not interested in it
1. Thanks for the straight answer, it already explains something.
2. Maybe I jumped too quickly to conclusions, but April was exactly as I've described before, I should continue my observations.
3. EUR/USD seems to me to correlate quite well with gold as well.
4. Preliminary conclusion: it is a "gold" factor.
5. Looking forward to more opinions and clarifications.
Possibly a correlation of the low TF candle and the general trend.