Hi Darrell,
When trading the news announcements like New Home Sales which is coming up on Tuesday. What is the best currency pair to trade when it says USD is the currency affected. Should I trade usd/cad or eur/usd or both. Just not clear of what pairs. It would be awesome to have a list of what currencies, indices or commodities are most affected by the major news announcements, if such a thing exists.
Thanks, Mike
i usually cover this on my daily radio show.
A resource you can use is look at historical release dates and times.
Go to http://www.olsenscale.com/ “http://www.olsenscale.com/” and on left choose date and time of last report do this for at least 3 or 4 of the last reports.
Find the pair with the most impact SMQ
That can be pair to use.
this can change overtime so watch it. Also pay attention to what other things are being released around it.
I may do a webinar on the olsec scale soon but it is pretty easy to use.
Note this is just for fx sometimes it is better to use indices or commodities than fx. YOu have to do the homework to find out.
We are making a tool for finding the best instrument but this will take time…lots of research.
Darrell