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Trading Opportunities in EUR/USD and EUR/JPY
Abstract：WikiFX News (4 June)- Trading variety recommended today is: EUR/USD (up: 7 days, overnight change: 0.56%, fluctuation: 0.81%)
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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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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