Live: Understanding forex pairs

by Ashley DeSousa | Jun 8, 2023 | Forex Analysis

Live: Understanding forex pairs

In today’s live webinar, Thinus elaborated more on the point he mentioned in his weekly post. He went into more detail about forex seasonality and why different pairs move in the way they do during different seasons.

For example, according to the past 10 years of data, the EURUSD declines during June then consolidates in July and gradually returns higher in August. It could be for various reasons. I could understand the consolidation in July as markets are not very volatile during the summer holiday month so I would expect it to go sideways.

But we don’t just use this data to take trades. It’s past data and doesn’t give us an indication of what price will definitely do in the future. No one can predict the future, but we can use probability to put the odds in our favor. This is why we use the M2 strategy to find and filter good trade setups.

You can view the websites below to check more about the seasonality of the trades.

Markets made clear

For seasonax EURUSD and a couple more are free but you have to pay a fee to use the other pairs.

AUD

I then went on to show how the rate hike with the AUD was predictable as the forecast showed they wouldn’t change the rates. Last week’s CPI reading came out higher than expected which wasn’t good for the AUD. Hence why it was quite likely they would have raised interest rates further to control and tame inflation.

I also showed how I was looking to short the GBPAUD and had a perfect entry but due to the news I didn’t put it as a forward entry. It was a textbook M2 trade.

I then went through the Earth and Sky set ups and picked the pairs that look the best to trade for this week.

I prefer the AUDJPY out of them all for the reasons I explained in the webinar.

You can watch the live webinar below:

Kind regards,

Ashley, Thinus

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