same direction moving currency pairs are: EUR/USD and GBP/USD, eUR/USD and NZD/USD, uSD/CHF and USD/JPY. T is hosted. Hence, the total loss will not be as bad as if it would be without the second "backup trade". However, there is a strategy of hedging one currency pair with another. A very simple use is avoiding trades that cancel each other. MyWOT Overall reputation Excellent Trustworthiness Excellent Privacy Excellent Child safety Excellent Google Safe Browsing Website status Safe Status ok User reviews Reputation Unknown 1 positive 1 negative Recently analyzed sites. For instance, AUD/USD and EUR/USD pairs have the correlation coefficient of about.70 which means that pairs are moving mostly in the same direction but not as perfect (which is what we need here). Another option would be to diversify risks in trade. For example, a trader forex bill williams fractals has opened long positions on both currency pairs. When confident, a trader may double position size by placing same orders on parallel (moving in the same direction) currency pairs.
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They have a correlation coefficient of over.90, which means that when EUR/USD goes up, GBP/USD also goes. For instance, knowing that EUR/USD and USD/CHF move inversely near-perfectly, there would be no point forex strategy market opening time in uae to go short on both positions as they eventually cancel each other (loss profit). AUD/USD and GBP/USD, aUD/USD and EUR/USD, inversely moving pairs are: EUR/USD and USD/CHF. Information about current correlation coefficients can be found here: Currency Correlations Table. IP Whois Get more, cloudFlare, Inc., iP address, server Technologies.
Some currencies tend to move in the same direction, some in opposite.
This is a powerful knowledge for those who trade more than one currency pair.
Trading the Bounce and breakout of short term ranges.