Risk it fora Biscuit
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Hello everybody, I've been reading as much as possible recently and I came across this quotation:
'Look at similar and related instruments to see if the moves confirm each other. So if the cable looks as though it is going up, then $/Yen should be on its way down.'
(Elliott, Nicole. Charting with Candles and Clouds, in Breakthroughs in Technical Analysis, David Kelly)
I had thought about this before - are there any rules governing how prices move between currency pairs?
(I'm trying to use my common sense to work it out, but the fact that every currency exists only in relationship to another one (i.e. a pair) is melting my brain)
'Look at similar and related instruments to see if the moves confirm each other. So if the cable looks as though it is going up, then $/Yen should be on its way down.'
(Elliott, Nicole. Charting with Candles and Clouds, in Breakthroughs in Technical Analysis, David Kelly)
I had thought about this before - are there any rules governing how prices move between currency pairs?
(I'm trying to use my common sense to work it out, but the fact that every currency exists only in relationship to another one (i.e. a pair) is melting my brain)
