As one of the most significant factor in the volume of market movement currency correlation playing big roles in movement the market unexpectedly either opposite direction or overbought oversold.
Take for example today EUR-USD and GBP-USD which their movement are very identical to each other. However the volume at how much they move is different and this is closely correlated to the EUR-GBP movement.
Today's analysis Example.
The expectation towards EUR-USD should be moving upward after reaching resistant at 1.4307 however it never happens and instead keep moving downward deep down to 1.4287. However the GBP-USD making a correct movement where it swing back to 1.5961 after reaching resistant level at 1.5836.
So at this temporary point the identical movement of EUR-USD and GBP-USD is temporary off track. This is resulted by the movement of EUR-GBP which is going down big time making the Great Britain Pound stronger than the Euro.
Therefore next time when you trade the EUR-USD and GBP-USD take note of the EUR-GBP which has the direct impact on their movement. This is one unpredictable factor.
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