Trading Opportunities in EUR/USD and EUR/JPY

WikiFX News (4 June)-Trading variety recommended today is: EUR/USD (up: 7 days, overnight change: 0.56%, fluctuation: 0.81%)

The correlation coefficient of EUR/USD and EUR/JPY reaches 0.97 during this period, and below are some trading tips for investors.

u Hedging: when buying one 1 standard lot of long/short position EUR/USD, hedge with 1 standard lot of EUR/JPY in the opposite direction.

u Portfolio diversification: When investing in EUR/USD, avoid the high-correlation varieties and invest in other forex varieties less relevant to EUR/USD.

u Risk distribution: when buying one 1 standard lot of long/short position EUR/USD, couple with 1 standard lot of EUR/JPY in the same direction.

u Today's special reminder for investors: Eurozone service industry PMI final reading will be released at 16:00, Eurozone's April monthly retail sales at 17:00, and the main refinancing rate of the European Central Bank to June 4 released at 19:45.

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