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Originally Posted by Trader02
It is because of this cross that I picked EURO for my LONG call vs USD and not GBP.
EURGBP went into a northbound rally on Jan 23rd. So any rally in EURUSD would upstage a similar rally in GBPUSD.
Also good to watch are EURCHF, EURCAD, EURAUD -- even if you don't trade them.
And AUDNZD to pick the winner and then go long against USD when DX is weak and the winner of this pair also trounces EUR and GBP.
Wisdom from the grave ......  |
A lot were suckered into shorting Eur/Usd in the belief that as Cable had dropped on poor data the Eur was bound to follow, there's the benefit of watching the cross. The Cable move wasn't dollar driven.
Clue: EurUsd/Cable = Eur/Gbp