EUR/USD has been well trailed, as have other major pairs. They all benefit from ready liquidity, tight spreads and low margin requirements. There is plenty of TA and opinion available on these pairs.
But how to select the best? And will the best be the best next month?
An alternative is to let the market tell you which currencies are strongest and weakest and then just select that pair. My preference is for trend-following trades that have an average duration of 3-6 days. On the daily chart plot a suitable EMA and note its current slope - I'm using 20EMA right now. If the slope is upwards, this is bullish for the base currency, bearish for the counter: if downwards this is bearish for the base currency and bullish for the counter.
This give a score for each of the major currencies in the format X-Y, where X is bullish points and Y is bearish points. Right now, the most bullish currency is JPY with 7-0, the most bearish is GBP with 0-7. This suggests a GBP/JPY short. Shorting the Beast is never dull.
