What is the Best Pair to Trade during April 2013
Dave Green • 2 min read
Choosing which pair to trade is not always as obvious as people think. Over the course of the year Forex pairs tend to alternate between active and in active. This short article will show you the best pair to trade over the next few weeks.
And the Winner is… Best Forex Pair to Trade
At present one of the best pairs to trade is AUD/USD. Over the last fortnight I, and a number of others, have taken four successful trades with this pair.
What makes the AUD/USD a good choice?
At present the AUD/USD pair is following very predictable patterns. Take a look at the 5 hour EUR/USD chart below; you will see that AUD/USD is alternating between the yellow support and resistance areas in an easy-to-trade up and down manner.
When any pair starts behaving in such a predictable way, it makes it very easy to trade. If the AUD/USD continues to follow the same pattern that it has over the past few weeks, it will provide lots of straight forward trading opportunities over the coming weeks.
The latest AUD/USD trades
Here are some of our latest AUD/USD trades (shown on a 1 hour chart):
All these trades had tight stops, some as low as 20 pips.
At the moment, by trading reversals you could make nice profits on the pair AUD/USD.
Here is a list of my current support and resistance areas for this pair:
The areas listed represent the centre line of the area; all you have to do is plot the centre line on your chart and then add outer lines at 5-10 pips on each side.
Other Interesting Pairs to Watch
It is also worth keeping an eye on the pairs USD/JPY and EUR/USD this month, over the past few weeks it has been providing consistently good trades.
What pairs will you be looking at? Leave a comment and let me know!