OK traders, no need to make it complicated.

If the Dollar Index (DXC) is weak, we know that pairs like EUR/USD, AUD/USD, GBP/USD and NZD/USD will be strong while pairs like USD/JPY and USD/CHF should be weak.  Simple correlation here – remember college statistics?

That is not enough though, we want to know which pairs are performing better or worse than the Dollar Index (DXC) as those will likely be the best pairs to trade.

So, if we simply look at the most recent leg lower in DXC (March 11th high), we can make the assumption that the pairs which outperformed would be the ones to track going forward.

DXC is off  about .62% during this time, but NZD/USD is up 1.25% (long) while  USD/CHF and USD/JPY  are off .80% (short).

Conclusion:  only focus on NZD/USD, USD/JPY and USD/CHF.  By doing this you have turned all the other noise off and know to focus 110% on set-ups in those pairs.  Now you have freed up your time and eliminated the other perceived possibilities and tail chasing.  That is the critical difference between those that succeed and those that merely take part!

 

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Editors’ Picks

EUR/USD drops back below 1.1300 amid coronavirus fears

EUR/USD retreats to 1.1280 during Monday’s initial Asian session, following the heaviest daily jump of 2021. The coronavirus variant, dubbed as ‘Omicron’, shook markets and the US dollar on Friday before the greenback started nursing losses a few hours back.

EUR/USD News

GBP/USD: Bears eager for a covid trigger to move in towards 1.3200

GBP/USD, which has been tugged and pulled over recent weeks between central bank themes, now faces the risk of a covid contagion risk for the foreseeable future since the latest coronavirus threat.

GBP/USD News

USD/JPY flirts with daily low, around 114.70-65 region

USD/JPY witnessed aggressive long-unwinding trade on Friday amid the risk-off impulse. The new COVID-19 variant spooks investors and triggers a sharp fall in the equity markets. Retreating US bond yields kept the USD bulls on the defensive and added to the selling bias.

USD/JPY News

Editors’ Picks

EUR/USD drops back below 1.1300 amid coronavirus fears

EUR/USD retreats to 1.1280 during Monday’s initial Asian session, following the heaviest daily jump of 2021. The coronavirus variant, dubbed as ‘Omicron’, shook markets and the US dollar on Friday before the greenback started nursing losses a few hours back.

EUR/USD News

GBP/USD: Bears eager for a covid trigger to move in towards 1.3200

GBP/USD, which has been tugged and pulled over recent weeks between central bank themes, now faces the risk of a covid contagion risk for the foreseeable future since the latest coronavirus threat.

GBP/USD News

Gold looks to $1,800 on ‘Omicron’ concerns

Gold reverses late Friday’s pullback from $1,815 during Monday’s Asian session. In doing so, the metal keeps the previous day’s bounce off a two-month-old support line amid market fears emanating from the coronavirus strain, dubbed as ‘Omnicron’.

Gold News

SafeMoon price gears up for upcoming V2 launch with drop in circulating token supply

Ahead of the SafeMoon V2 upgrade, there is a drop in the supply of circulating tokens. SAFEMOON price plunged nearly 75% after hitting an all-time high seven months ago. The petition to rename Jazz arena to “SafeMoon arena” gathered 4,878 signatures from the community. 

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