Today I want to show you some advanced analysis to determine which currency pair to trade when you have multiple opportunities.
The first step is to identify strong and weak currencies using our Individual Currency Strength Indicator. The strongest currency is the NZD (purple line up top) and it does have some current momentum. However, the AUD (orange line) really has that steep line to the far right that we look for indicating a lot of current momentum at the open.
On the downside, the USD (blue line) has been clearly the weakest currency, but for the past 60 minutes it’s trading flat and shows no momentum. The JPY (yellow line) is weakening with that real steep line down to the far right indicating it has that huge momentum we look for.
AUD/JPY BUY
You can see how perfect the timing is and how quickly you get the profitable move when you identify that current momentum from our indicator. From the point of entry, the pair went up 60 pips.
Watch the entire video analysis below:
