Discussion in 'Forex Trading' started by increasenow, Feb 4, 2009.
anyone look at Oil, Gold, SP500 when trading Forex?
Although I have no idea how much longer this will last, EUR/USD currently seems to be directionally correlated with the S&P 500.
Short, sweet, and terribly oversimplifed answer is that Oil and CAD move together, so oil goes up, USDCAD go down. Gold and AUD and NZD move together, so Gold goes up, AUDUSD and NZDUSD go up.
If only it was that simple!
fluttrader, just choose a market and watch it on two different time frames. I choose the 1 and 5 min charts. 5 min gives me my context (you need a context) and the 1 min gives me the basis for my refined entries and exits.
Dont forget carry trades move with equity markets, till they dont. Then, they dont.
thanks...this is tremendous insight..thanks
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