Most forex traders don’t pay that much attention to the Reserve Bank of Australia and to the Reserve Bank of New Zealand. Both economies are big commodity exporters and have been riding the Chinese hunger for raw materials to the upside. The Australian Dollar and the New Zealand Dollar are both referred to as commodity currencies and forex traders also use them as a Chinese Yuan proxy trade with the Australian Dollar being the top candidate. The AUDNZD currency pair usually receives very little attention and has been trading well above parity...
Gambling is defined as staking something on a contingency. However, when trading is considered, gambling takes on a much more complex dynamic than the definition presents. Many traders are gambling without even knowing it — trading in a way, or for a reason that is completely dichotomous with success in the markets. There are many variables in the market, and misinformation among investors or traders creates a gambling scenario. Until knowledge has been developed that allows people to overcome the odds of losing, gambling is taking place with...
Welcome back everyone to another exciting edition of the Bitcoin - Forex Combo Strategy. I am glad to see that support levels, not just for Bitcoin, came through and pushed price action higher over the past four trading sessions. The crypto-winter, as many have called the last few months, appears to be coming to an end as prices are thawing and expanding. Back on December 5th 2018 I have talked about the rise in fundamentals despite all the negative attention which was fixed solely on price. You can read up on that post at “Bitcoin - Forex...
A feature of Forex is that this market, as you know, does not have a specific territorial location. In addition, Forex does not have any centralized management bodies. This specificity determines the significant differences between the Forex currency market and other markets for financial assets that have more pronounced features of institutional structures (for example, financial exchanges that have a specific physical location and regular governing bodies). Forex is a currency conversion system that functions as an electronic network of...
Memories of the January 3rd 2019 Japanese Yen mini crash, which impacted the Australian Dollar as well, barely faded when forex traders are reminded that fluctuations in the world’s most liquid market can be drastic. The January 3rd mini crash and recovery didn’t leave any permanent damage and neither did yesterday’s mini crash in the Swiss Franc. The USDCHF initially spiked from 1.0004 to 1.0096, then reversed direction to dip below parity and eventually resumed its path to the upside. Today it extended its gains and may challenge yesterday’s...
