Leading Indicator Currencies Pointing Lower
Despite summer soda pop rallies in the more speculative Pound and Euro, the asset class market’s AUDUSD and AUDJPY, which hold a much greater interest from institutional investors and professional traders, because of their yield, ended the week lower. CADJPY, another cross with serious institutional interest posted an 8-month low settlement on Friday, and along with AUDJPY flashed a sell signal on the Daily chart in line with its Weekly & Monthly trends, which are both lower.
The signals on the daily charts below are set to only flash if they are in line with the trends on the Weekly charts.
From a trading perspective it’s always best to know which markets are the leaders and which the laggards, and why.
Jay Norris is the author of Mastering the Currency Market, McGraw-Hill, 2009 and a Trading Instructor at Trading-U.com. To see details of Trading-U’s available course work go to Trading Course
DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include the potential that changing political/economic conditions may substantially affect the price/liquidity of a currency. Investors may lose all or more than their original investments.