Consider the Crosses
With so much movement in the U.S. dollar recently, it can be kind of difficult to find the next trade if you're following only the EUR/USD, GBP/USD, USD/CAD, AUD/USD, USD/JPY, etc. The trends involving the U.S. dollar right now are huge, but they can be a little frustrating if you've missed them.
One strategy to consider when the dollar is extended is to focus on the cross rates. There are many good set-ups unfolding in some of the cross rates, most of which haven't seen the big trends associated with dollar-related pairs.
One cross rate to watch is the GBP/JPY. It recently rolled over from a long-term descending resistance level, but has firm horiztonal support below at 209.00.
Eric
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Reader Comments (1)
Frustrating is right! I have been looking week after week for something to show up. Thanks for the tip Eric. I will be look to see if it gives a good low risk entery.
Tom