Grassroots Currency Speculation

Let's get one thing straight. Everybody is frustrated by how the Coronavirus has taken over the world's economy. There is no doubt about it. The Covid-19 is a juggernaut of epic proportions. Things came to a head this week when the United States' President, Donald Trump, insinuated that he would like to see China brought to task for the role they have played, in the Coronavirus epidemic spreading to almost every country. Now President Trump is not one to mince words. He says there is more going on with China's role in the epidemic and he is not at liberty to divulge this information just yet. The currency markets are very sensitive to geopolitical movements. When President Trump Tweets or PM Scott Morrison makes a statement and it reaches a crescendo in the news cycle. The currency markets react. Governments react, the big banks get into the act. I do not know much about PM Scott Morrison, I have not followed him for that long but he does seem to think, from what I ha...

I woke up this morning and checked the charts. To my delight the trade we made on AudChf was in profit by 24 pips so we closed the trade and booked the profit. I gave the trade 15 hours to go in my favor. That is about as long as you need for these current strategies that I am running. Anything more and you risk the fundamentals of the trade being influenced by some outside factor that was not part of the planning. We took our Profit at .6370, so I am delighted to see this. The profit was booked during New York and London Session. We got in during Tokyo Session. So we will see how long the Swiss franc stays weak. In other news the AudUsd looks like a play. We have not been following it that closely because we have other pairs on the radar but looking at the charts this morning it looks like it is trending fairly smoothly.

The Australian Dollar is showing strength this week and the Swiss Franc has been weak. The AudChf currency pair is showing signs of being a reasonable choice. It has been moved rather steadily for the last few days on an upward trajectory. It pauses sometimes and there seems to be profit taking but the overall trend is up and trading trends is a major part of my strategy. I took the AudChf for a Buy at .6341 with a stop loss at .6320 at Target set at .6370. There were other pairs on the radar but since I traded this pair Sunday Night I went back to it, hoping its tendencies are consistent with what my readings are telling me.

I did not see much last night on the charts but it looks like EurAud has shaped up fairly nicely to meet the criteria of a possible trade. The only problem is that it shaped up during the New York and London Session which is not the time I like to trade. If you widen your stop losses(assuming you use SL) it might be something you could get away with trading during the New York Session. I rather stay out and wait for a better entry. Like I got with AudChf yesterday. Aud is staying strong so far this week. No doubt the fact that the Australian currency is tied to Gold and we are in the middle of a financial crisis is driving this.

There is currently no clear favorite to trade this hour as far as I am concerned. The strategy calls for certain parameters to be met that are not being met right now. That being said, GbpNzd and EurNzd are on the radar but they are not checking off the boxes on some details that I am looking for so I will hold off from placing  a trade at this minute. I will check back in 30 minutes to see if anything has changed. Last night things got started pretty early in the Tokyo Session with AudChf . I still have my eye on that currency pair. Maybe the banks are waiting until after the Japan data releases to decide on their course of action. Maybe might strategy just does not have anything to trade today. Remember we are still offering a forex newsletter and forex strategy training .

The Swiss Franc has weakened Monday to a great extent as many currencies have been trading very good against the Old Guard Safe Haven. The USD took a little of the safe haven status for itself as the dollar traded fairly strong in the opening of the New York Session. It could be that speculators are going with commodity currencies that are closely tied to Gold and Iron. CadChf is up and so is AudChf .

AudChf made it to our target price during the London Session. It had a good head of steam and went up steadily for the most part. It had a pull back after our initial surge but this was after our target was hit. So this was my first trade since taking a break because of the volatility due to the Coronavirus. All in all it looks like the current environment can be traded if you have a sound strategy and are trading with the big money. We will see if this holds up. Keep in mind that the Tokyo session is known for being a less volatile time to trade. Getting back to what I was discussing last night during the Tokyo Session . It looks like the ChfJpy is on deck to be the play during the news. We will see. Looking at the charts on ChfJpy it definitely has some volatile periods. This could be during London session it appears.

AudChf looks like it is ready to go up some more. during Tokyo Session . No telling where it will go from here but the Australian currency has been doing fairly well against the Swiss Franc in the last few weeks. I believe the dollar stood in for the Swiss franc as a safe haven in the past few weeks. No telling how long this lasts. It could depend on the news that comes out of Washington this week. I took the AudChf Buy at .6247, Stop Loss .6225, and TP .6280

The New Zealand dollar has been strengthening against the Swiss franc in trading in the last couple hours and the last 24 hours. New Zealand has been working on their WorkSafe plan and have made decisions to move financial services sector toward normalization. The Reserve Bank of New Zealand released this statement. Check out the Forex Newsletter https://grassrootscurrencyspeculation.blogspot.com/2020/04/forex-strategy-coaching-and-training.html If a workplace reopens, it must create a formal plan which details how they are keeping people safe at Level 3 and dealing with COVID related risks.. Businesses do not have to present these plans in order to operate, but will be expected to produce it when requested by WorkSafe, who will be conducting checks across New Zealand and all sectors. Further information, guidance and a template for these plans is available at WorkSafe. If you are already operating at Level 4, and have a formal plan in place, we ask that you review these against Le...

The Swiss franc is strong today against the British pound. The GbpChf is steadily going lower and had a big move a couple hours ago. GbpUsd also had a big move down during London and New york session as the U.S. dollar gains strength.

President Trump has been coming on television almost daily as he tries to reassure the American public that the Coronavirus dilemma can be minimized efficiently. The GbpUsd has gone down again during the London Session and Asian Session . It could stay that way for the New York Session. The Japanese Yen is retaining its safe haven status at a lower level than the Dollar since the Federal reserve lowered interest rates. Chf is also performing well. UsdCad is also going up.

The EurUsd spiked up today as the Federal Reserve cuts interest rates by 50 points in the first emergency move since the Financial Crisis. UsdJpy is currently moving downward as the Japanese Yen has regain some of its safe haven status. The ChfJpy also has moved down. JpyChf is really taking off.

I tell myself to stay clear of the New York and London Session intersection because it can get volatile like today. I know some of this is because of the current climate over the Coronavirus but I think even in normal times it is a bit to disorderly for me at this time. I know the stories of how you can make fast money during the intersection of London and New York but it might not be worth it. I would have to study it. I use stop losses for safety and a highly volatile market is going to take me out of some trades that might have gone on to do well. The goal is to gauge just how much room you need on your stop loss to let your theoretical opinion about the two economies have a chance . Needless to say my theoretical opinion about the fundamentals should involve high probability trades. So at this time my trade on NzdChf made it into positive territory and the GbpChf trade is at zero profit. It went as far down as $60-$70 today. The Switzerland currency is supposed to be a safe h...

The Pound has been vulnerable these past few weeks. Britain is seeing some instability from a geopolitical stand point as Harry and his wife Meghan develop their new role with Queen Elizabeth II. So the monarchy has had a rough few weeks as of late and it is influencing the currency. EurGbp and GbpChf are interesting symbols to watch as this saga develops. Does this movement have legs ? Apparently so, but it all depends on how the Coronavirus plays out and Britain's relationship with the European Union. Chf is strong now because of its historical safe haven status during times of crisis. This update was done during the London Session. British Pound instability