Pairs to watch along with eur/usd

I like to watch the gbp/usd along with the eur/usd. What other pairs are useful for the eur/usd trader to watch?

usd chf

I normaly trade the eur,chf,jpy,aud and once in blue moon the eurchr,eurjpy,eurgbp

turbo

If you keep an eye on EURGBP, You can get an idea of the relative strength of the EURO against the Pound. This removes the dollar from the mix... That way you can pay attention to the correlation of the two currencies EURUSD and GBPUSD, which are similar, except EURUSD has more liquidity and because of this GBPUSD has more volatility. I am not suggesting you trade EURGBP, although you can. It is just a good bench mark to gauge the two USD pairs with...

Hi Danny,
Not sure how new you are to forex, but there is a thing called correlation.
Basically, it's designed to prevent you doubling your risk by trading two or more pairs that trend in the same manner.
If the term is new to you, do a search on the forum, there's one guy who's done some great work on this and can advise which pairs to follow and stay out of trouble.

PS Found it, good ol' Isotonic http://www.forexfactory.com/forexfor...ead.php?t=7935
peter

The dollar tends to move everything else, so you won't necessarily see much.

To see a currency itself move, as close as you can get to it, try viewing it against the CHF (Swiss Franc), as that is a very stable currency, so I'm told.

Viewing the GBP/CHF and the USD/CHF can help isolate which currency is doing the moving and possibly help your predictions on Cable, or at least identify times when both GBP and USD are trending the same way, i.e. revaluing, which might be a less predictable and thus less profitable time to trade.

try eurusd and usdchf- its simply amazing how correlated they are, they mirror S/R , but dont go long both, think of going long eurusd at support for example, then check usdchf-if it's smacked into resistance then go long eurusd

You can focus on any currency pair which is based on USD (except for USD/JPY which is not that technical analysis driven. Its fundamentally driven)

USD/CHF, USD/CAD etc..