I compare the following 7 crosses EURGBP AUDCAD EURAUD EURCAD USDJPY USDCHF CHFJPY looking into the big time frames M/W/D with special attention to the previous trading day candle The purpose is to determine the strength order for high-risk CURRENCIES (EUR,GBP,AUD,CAD) and safe haven ones (USD,JPY,CHF) This helps me to sort out pairs and focus on the high probability ones I only trade majors and JPY pairs except for NZD pairs and GBPJPY
• This week I am in a risk-off mode so I will bearish for risky assets as long as the market conditions maintain (technical, sentiment, fundamental, quantitative) • from screening the 7 crosses as mentioned the order for risky currencies from high to low is: CAD > EUR > AUD > GBP • for safe ones the order is: CHF > USD > JPY
So, my focus in order will be: GBPUSD - AUDUSD - AUDJPY - EURUSD - EURJPY - USDCAD - CADJPY