Currency pair recommendations

Discussion in 'Forex' started by Evrardmakon, Dec 1, 2020.

  1. What are your recommendations on currency pairs in the present time? The ones I shortlisted - USD, EUR, JPY, AUD, CHF Heard CHF is under strict regulations by Swiss authorities. I feel more confident with my capital with low spreads and low commissions. What do you think about the effect on the above selected currencies seeing the current situation?
    shadybee likes this.
  2. tomorton


    I mostly trade forex, long-term and take a top-down view of currency strengths so I know I will be getting into the strongest trends with the strongest currency match-ups.

    I quickly view the 28 leading pair charts to see which are in strong up or down trends. This also allows a simple tally of which currencies are strong or weak. Right now, I have AUD, NZD as strongest (though you can most times regard these as just one currency), with GBP next. The weakest I see as USD, then JPY, then CHF. I also look at the recent completed weekly bars to notice recent strong price action.

    Having identified my favourite targets I will look for a way to get into the strongest trends using whatever price action or candlestick pattern appears EOD.
  3. EUR / USD is my favorite pair because it is the most active pair. Fluctuations are always high and there are plenty of business opportunities every day.
  4. Is there a particular indicator that you use? I am using RSI right now to predict overbought and sold pairs but many times get false signals. Pl help!
  5. tomorton


    I don't use any off-chart indicators. I use the sequence and the slopes of the 20 and 50EMA at the latest close to tell me the trend, if any, and to gauge the strengths of trends against each other, and even to tally how many of a currency's 7 pairs currently give it a bullish or bearish bias.

    Indicators including MA's are not entry signal generators.
    jys78 likes this.
  6. CHF is the best currency to invest. It’s been in fact rated as the best performing currency in 2020. The negative interest rate shouldn’t really be a hindrance if the analysis is done right.
  7. tomorton


    Would you please like to say a little about how you have profited from investing in CHF this year?
  8. tedmos38


    EURUSD is the most volatile pair and is a good option to consider.
  9. menashe


    I personally don't like indicators prefer to trade supply and demand
  10. I swing trade Currencies, as in 2-3 weeks. And it does take me 2-3 weeks to find an entry!!!

    I like GBP/AUD, and also GBP/JPY.

    AUD/USD, USD/JPY, and EUR/USD are very liquid, and I would start with those...
    #10     Dec 1, 2020