Daily Forex Market Update: New Focus on Currency Pairs

Monday, 19/01/2015 | 15:35 GMT by Guest Contributors
  • In our daily market update by our fairly new guest blogger, John Putman II, we'll learn what currency pairs he 's focusing on after putting aside currency pairs associated with the CHF. How has your trading strategy changed since last Thursday? Leave us a comment after the blog post.
Daily Forex Market Update: New Focus on Currency Pairs
rp_John-Putman-II-150x150.jpg

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

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.

19th january

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 leahg@forexmagnates.com

rp_John-Putman-II-150x150.jpg

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

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.

19th january

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 leahg@forexmagnates.com

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