8 Major Currencies 02/02/2023
Class A LONG (The colors of the moving average slope and the moving average difference are green, and 2 month chart is rising. ): JPY EUR
Class A SHORT (The colors of the moving average slope and the moving average difference are red, and 2 month chart is decreasing. ): USD GBP NZD
Class B LONG (The colors of the moving average slope and the moving average difference are green, and 2 month chart is decreasing. ): CHF
Class B SHORT (The colors of the moving average slope and the moving average difference are red, and 2 month chart is rising.): NONE
Consider trading the currency pairs next step:
LONG ONLY AL/AS, AL/BS, BL/AS
SHORT ONLY AS/AL, AS/BL, BS/AL
As the 8 currency charts are using 4h, it is better to use 1HOUR or 15min chart to find the entry setup
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Explanation:
The above 4 pictures from left to right are USD | JPY | EUR | GBP
The following 4 pictures from left to right are AUD | CAD | CHF | NZD
The 8 major currencies cannot be traded directly on the market. Instead, they are represented by a composite of several currency pairs.
USD: USDEUR+USDJPY/100+USDGBP+USDAUD+USDCHF+USDNZD+USDCAD,
JPY: JPYUSD+JPYEUR+JPYGBP+JPYAUD+JPYCAD+JPYCHF+JPYNZD,
EUR: EURUSD+EURGBP+EURJPY/100+EURAUD+EURCAD+EURCHF+EURNZD,
GBP: GBPUSD+GBPEUR+GBPJPY/100+GBPAUD+GBPNZD+GBPCAD+GBPCHF,
AUD: AUDUSD+AUDEUR+AUDGBP+AUDJPY/100+AUDCAD+AUDCHF+AUDNZD,
CAD: CADUSD+CADEUR+CADGBP+CADJPY/100+CADAUD+CADCHF+CADNZD,
CHF: CHFUSD+CHFEUR+CHFJPY/100+CHFGBP+CHFAUD+CHFCAD+CHFNZD,
NZD: NZDUSD+NZDEUR+NZDJPY/100+NZDGBP+NZDAUD+NZDCAD+NZDCHF,
The Japanese yen is expressed in two decimal points, with each point referred to as "1 point." In contrast, other currencies are expressed in four decimal points, with each point also referred to as "1 point." As a result, the JPY must be divided by 100 when calculating its average weight in relation to the other major currencies.
The slope of the moving average on the main chart can be used as an indicator of the current market trend. If the slope is green, it indicates that the market is rising. If the slope is red, it indicates that the market is falling. If the slope is white, it indicates that the market is in a state of consolidation.
The secondary chart displays the difference between the long and short moving averages. This difference can also be used as an indicator of market trends and conditions.
Class A LONG (The colors of the moving average slope and the moving average difference are green, and 2 month chart is rising. ): JPY EUR
Class A SHORT (The colors of the moving average slope and the moving average difference are red, and 2 month chart is decreasing. ): USD GBP NZD
Class B LONG (The colors of the moving average slope and the moving average difference are green, and 2 month chart is decreasing. ): CHF
Class B SHORT (The colors of the moving average slope and the moving average difference are red, and 2 month chart is rising.): NONE
Consider trading the currency pairs next step:
LONG ONLY AL/AS, AL/BS, BL/AS
SHORT ONLY AS/AL, AS/BL, BS/AL
As the 8 currency charts are using 4h, it is better to use 1HOUR or 15min chart to find the entry setup
-------------------------
Explanation:
The above 4 pictures from left to right are USD | JPY | EUR | GBP
The following 4 pictures from left to right are AUD | CAD | CHF | NZD
The 8 major currencies cannot be traded directly on the market. Instead, they are represented by a composite of several currency pairs.
USD: USDEUR+USDJPY/100+USDGBP+USDAUD+USDCHF+USDNZD+USDCAD,
JPY: JPYUSD+JPYEUR+JPYGBP+JPYAUD+JPYCAD+JPYCHF+JPYNZD,
EUR: EURUSD+EURGBP+EURJPY/100+EURAUD+EURCAD+EURCHF+EURNZD,
GBP: GBPUSD+GBPEUR+GBPJPY/100+GBPAUD+GBPNZD+GBPCAD+GBPCHF,
AUD: AUDUSD+AUDEUR+AUDGBP+AUDJPY/100+AUDCAD+AUDCHF+AUDNZD,
CAD: CADUSD+CADEUR+CADGBP+CADJPY/100+CADAUD+CADCHF+CADNZD,
CHF: CHFUSD+CHFEUR+CHFJPY/100+CHFGBP+CHFAUD+CHFCAD+CHFNZD,
NZD: NZDUSD+NZDEUR+NZDJPY/100+NZDGBP+NZDAUD+NZDCAD+NZDCHF,
The Japanese yen is expressed in two decimal points, with each point referred to as "1 point." In contrast, other currencies are expressed in four decimal points, with each point also referred to as "1 point." As a result, the JPY must be divided by 100 when calculating its average weight in relation to the other major currencies.
The slope of the moving average on the main chart can be used as an indicator of the current market trend. If the slope is green, it indicates that the market is rising. If the slope is red, it indicates that the market is falling. If the slope is white, it indicates that the market is in a state of consolidation.
The secondary chart displays the difference between the long and short moving averages. This difference can also be used as an indicator of market trends and conditions.
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