Correlation Between Pairs?

[adtrade]

Hi,

Can anyone help me outside the dollars pairs is there any pairs that should not be traded in the same direction i.e I know it doesn`t make a lot of sense having a long position on Gbp/Usd and Usd/Jpy most of the time and Eur/Usd and Usd/Chf practically move identically in the opposite direction.

Any help would be great.

Thanks

[daydreamer65]

Take a look at this webpage.

Currency Correlations

It shows a table of the correlated & non-correlated pairs,
you can also see it in heatmap format as well.

[4xStar]

Nice comparison chart, thanks. Wish they also had the g-y.

[greywolf238]

Thanks Daydreamer, very good info on that website.

[TheRumpledOne]

correlation indicators can be found here:

Correlation indicators - Forex Trading


Correlation with oil, gold, others indicator

[GBLilleyUSMC]

This is a very important subject. Aside from what I am about to say, you should do your own in depth research on this subject.

I cannot imagine trading without doing a complete intermarket analysis first. I spend at least an hour on this before placing my first trades for any day. I have an entire screen dedicated to other markets outside FX.

There are brokers out there, who will allow you to open a free demo account for life on Mt4 which shows gold, oil, s&P, dow, S&P futures, the german DAX and much more, however those are the main ones I watch.

If your trading the yens, other than watching the stock markets a good understanding of 10 yr T-notes will benefit you as well. Stocks down, the yen increases in value (Short yen pairs) even the nikkei, 10YT up, the yen increases in value (Short yen pairs).

I mostly watch Gold and Oil for the majors, these two commodities can and definately do move the US dollar. If Im short the dollar and I see gold or oil completely tank, im out.

[Pips Ahoy]

Originally Posted by GBLilleyUSMC

There are brokers out there, who will allow you to open a free demo account for life on Mt4 which shows gold, oil, s&P, dow, S&P futures, the german DAX and much more...

Can you recommend a broker that lets you keep a permenant free demo account? I've had many free demo accounts but they only last a month with my broker.

PS - I've been lurking for a few months a I've read a lot of your posts. Thanks for all of your input. I've learned a lot from your posts.

[Andrewunknown]

Oanda offers a demo account with no expiration - no Metrader, though. For an MT4 demo without expiration, try strategybuilderfx.