Moving averages have been a trend traders best friend for ages. Almost every trader has at least moving plotted on his charts to understand which side of the market he is in.
Personally we feel moving averages can be used best when clubbed with overall strength and weakness of currency indexes.
We are looking to trade existing trends and make pips along the way. Using the currency power meter on the Daily time frame you can find the best pairs to trade.
You can simply use longer moving averages like 50 , 100 and 200 ema on the 1 hour time frame to find entries each time price pulls back.
In the images above you can clearly see GBP and EUR in uptrend and NZD and CAD in a down trend making GBPCAD , GBPNZD, EURCAD, EURNZD a good bet for buy.
The Currency power meter makes it easy for you to spot the right pair to trade and then only use any pullback strategy to enter existing trends.