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Tonight I want to share something that all of you may or may not know about this. Ever wonder why some trader assume that when gbp/usd and eur/usd are moved in the same way? Is it because is same opposite pair usd? might be.. but the true answer is .. the currencies pair have their index between each other pair. This index is called “Currency Correlation” .

A web service that called www.mataf.net that offer price close daily are also offering the currency correlation table.

How to read the correlation?

The following tables represent the correlation between the various parities of the foreign exchange market (forex).
The correlation coefficient highlights the similarity of the movements between two parities.

* If the correlation is high (above 80) and positive then the currencies move in the same way.
* If the correlation is high (above 80) and negative then the currencies move in the opposite way.
* If the correlation is low (below 60) then the currencies don’t move in the same way.

Click here to read more…

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As I said before if you follow up my blog. I said that I’m still beginner in this forex area. All my trades are ended up with lost and more loosing. But after I went to the seminar last Sunday. My trade on past few days are in a good condition where I win all my trading.

What is the medicine? the answer is Elliot Wave. Right now im working so still cant explain to you the detail:D

I just paste my screenshot of current trading

See you later

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