Grassroots Currency Speculation

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 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 British pound is giving ground to the New Zealand dollar this Monday. The currency pair is showing a steady downward trajectory with a few retracements on the way down. It is still not quite the type of price action we like to see but GbpNzd might be a good play to get 75 pips while keeping a 40-50 pip stop loss. A little wider than we normally use but that is because of the extra volatility that is in the market now. Not the best of environments but if you must trade you can try it. We are now doing forex training and forex coaching for interested individuals.

The U.S. dollar strengthens against the Kiwi today as the United States is contemplating reopening the United States. No word yet how far President Donald Trump is willing to go to get the United States back open again. If he opens it too early then he risks the Coronavirus gaining a foothold which puts the United States back towards social distancing measures. If he waits too long then some businesses might not make it out of the economic slump caused by the Coronavirus. it seems like the forex market is betting in the short term that he will get the United States going earlier then was at first expected. President Trump also faces a campaign against challenger Joe Biden that is shaping up to be focused on how the Coronavirus and the economy is evaluated. There is also the threat that reopening poses to the African American community which has been hit hard by the Coronavirus. The Japanese Yen gained strength over night against the New Zealand currency in what looks like a safe have...

The NzdJpy, CadJpy, and UsdJpy all strengthened over night as fears of an economic down turn subsided a little. The UsdJpy made gains on the Japanese Yen as the U.S. tries to rebound from the Dollar seeing weakness in the last couple weaks.

New Zealand's currency gained against the Yen over night as Coronavirus economic stimulus packages have been talked about. The New Zealand Dollar had been falling for the past eight days before this against the Japanese Yen.

The NzdChf is on a down trend that started days ago. New Zealand is the second economy behind Australia in order of economic impact from the Coronavirus. The Swiss currency is seen as a safe haven so it is attracting investors. New Zealand is still restricting travel and thinks that will last into March. NzdChf is currently at .6127 in Tokyo Session and could go down to .6085 by the end of London Session. The Trump Administration is gearing up to handle the virus in America. NzdChf Coronavirus

The New Zealand and Australian currencies have gotten more in line with their daily trends in the last four to five hours. Not sure if this will continue thru the Asian session into the London session because it happened so late and it has not been going on for that long but it is to be noted. Currency Speculators that did well last week selling the New Zealand currency and the Australian have their eyes on the same play that was in motion last week. You can ride this thing all the way down if the signals stay strong. I do not know about taking it into the volatile New York session . Still not where I would like to see it to pull the trigger but it is looking better. New Zealand extended its travel restrictions to Tuesday, March 3. I will let you decide what you think about the numbers coming out of China involving the Coronavirus .

Astonishingly enough the AUD is doing quite well during the Asian(Tokyo) session. I had thought that it would continue to fall but it appears that some of the fears from the Coronavirus and the economy have been priced in from last week. The AUDUSD moved up to .6616 after a few hours of Asian trading. There was a report from the WHO that said the Coronavirus had peaked in January. So it could be a bit of profit taking from last week and the thought that the worst of the virus has come already. I am going to resist the temptation to jump into this trend until I see more traditional signals in the market. More strength from the four hour and hourly trends flowing back to the daily readings. New Zealand's currency is also doing quite well a few hours into the Asian session despite fears from Coronavirus. AUD Coronavirus