I'm sure there is an obvious answer to this question so please forgive my newbieness. If you are trading, let's say EUR/USD, what currencies are affected directly by, for instance, a strengthening Euro.
Is it possible to predict the movements of other currencies based on one currency pair's price action. Surely if the dollar strengthens against the Euro then it strengthens against other currencies too? If one's risk allows is this a viable way to trade when there is a strong trend at play as on last Friday with the EUR/USD?
Is it possible to predict the movements of other currencies based on one currency pair's price action. Surely if the dollar strengthens against the Euro then it strengthens against other currencies too? If one's risk allows is this a viable way to trade when there is a strong trend at play as on last Friday with the EUR/USD?