Some currency pairs are truly annoying – they can criss-cross through clear levels of resistance and support,surprise when least expected and find the trader grabbing his head with anger. Here are my top 5 pairs that are the toughest with technical analysis:
- USD/JPY – Not only does it criss cross through clear lines, the BOJ also contributes to the mess with interventions.
- NZD/USD – this rather stable pair does not respect support and resistance lines – it criss crosses.
- USD/CAD – used to trade in near-perfect ranges, but as it didn’t move too much in the past year, the moves inside the ranges became too choopy.
- GBP/JPY – The “dragon” – the most cross, is loved by risk-seeking traders as it makes hundreds of pips. It still makes hundreds of pips, but tends to choppiness.
- EUR/USD – the most popular pair in the world used to be a rather predictable pair, but the tables have turned, and its now much harder to analyze.
This follows up on a list of the 5 most predictable pairs published recently, and a similar list of unpredictable pairs made in April 2009.
Do you also find these 5 pairs to be rather problematic for technical analysis?
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I’d be glad to hear which ones annoy you…
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