adrianpolydorou
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What do you think are the best commodities,stocks,bonds,charts,currencies, data figures to have on a fx traders watchlist
Dollar index should give you a broad USD direction and you can trade affected USD pairs accordingly (but as I said it's broad, meaning not all USD pairs measured in the index will move the same way; sometimes news can affect any particular currency which will be excluded from the index's direction).
EUR/USD is less prone to price manipulation by big players than other currencies. But you are right, every trader should focus on pairs on which they are comfortable with.I prefer many of the USD pairs - USD/CAD, GBP/USD, USD/JPY, AUD/USD, etc. with the exception of EUR/USD. I actually used to trade it a lot when I first began trading but I had some bad experiences with it so now I mostly avoid it. I mean, I still do trade it when I see a proper signal for a good trade, but I don't follow it all the time.
EUR/USD is less prone to price manipulation by big players than other currencies. But you are right, every trader should focus on pairs on which they are comfortable with.
EUR/USD is less prone to price manipulation by big players than other currencies. But you are right, every trader should focus on pairs on which they are comfortable with.
Yes, that is correct. EUR/USD is the most traded pair not just by speculators, but by funds, banks, corporations, governments. And that creates the biggest mass of transaction money in the world, making it difficult to manipulate the pair in the long term, because you need to have large amount of money to move the pair in your desired direction, whereas in less traded pairs you don't need large amount as there aren't many market participants at one point in time.Oddly enough I've always been told that exactly EUR/USD is highly influenced by big players on the market. It made sense to me, due to the random odd spikes we see from time to time, not to mention that statistically speaking this is the most traded pair on the market, which means that there would be plenty of said major players who will be affecting its behaviour. That's my subjective opinion, at least.