Note

24 04 2021 Points to note

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 #OPINIONLEADER# 

(1) This week, there is only one currency pairing with a strong correlation.

Strong Positive Correlations: (AUD/USD, NZD/USD).

Strong Negative Correlation: None.

Be cautious when trading the currency pairs within each pairing concurrently as the magnitude of their movement tends to be similar, thus increasing the risk undertaken when they are moving against you.

(2) The weakest correlation pairings are (USD/JPY, EUR/JPY), (GBP/JPY, AUD/USD), (GBP/JPY, NZD/USD).

Trading currency pairs that are weakly correlated concurrently has a lower level of risk since the tendency of those currency pairs moving in tandem is low.

 

24 04 2021 Points to note



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correct
If I trade AUD/USD, NZD/USD at the same time, the risk will be magnified, right?
FxScotty
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@AmeliaNO1 😀 always good to pay attention to this

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