FOREX THEORY

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How to Trade Fundamentals With Currency Crosses

If strong economic data comes out of Australia, you might want to look at buying the AUD. Your first reaction might be to buy AUD/USD.

But what if at the same time, recent data also show the United States experiencing strong economic growth? Price action of AUD/USD may be flat.

One option that you have is to match the AUD against the currency of an economy that isn’t doing so well…. Hmmmm… what could you do?

Ah! Thank the forex gods for currency crosses!

Let’s say you did some analysis, checked the BabyPips.com economic calendar (shameless plug!) or Pip Diddy’s daily economic roundup (another shameless plug!) and you notice that the Japanese economy isn’t doing so good right now.

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FOREX THEORY

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Be Careful Trading Obscure Currency Crosses (Part 2)

You don’t want to get stopped out by those nasty spikes, do you? That’s why most forex traders usually put wider stops when trading these pairs.

But judging from the choppy movement of obscure crosses, it would really be tough to catch a good trade on these pairs. Unless you’re a currency cross guru like Cyclopip, of course!

See what we mean?

Also, since these currency cross pairs aren’t traded too much by forex traders, the spreads on these pairs can be pretty big.

If you want to trade these currency crosses, just be ready for some wild price swings and be willing to pay the price of the massive spread!

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