Grassroots Currency Speculation

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.

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.

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 .

The Japanese Yen is a currency pair I plan to follow in the next 24 hours as I look to see whether it makes some moves that can lead to a high probability outlook for its path. The news that will be coming out about 30 minutes after NY close is Unemployment rate, BOJ Outlook report, BOJ Policy rate, and Monetary Policy Statement. BOJ Core CPI comes out 4 hours after Unemployment Rate. Right now the CadJpy looks interesting but it is still early. Now this might not be the ideal pair to trade  based on my strategy but since the news is coming out we will see if things come together enough to give the price a push. So as it looks right now we would be looking for the CadJpy to weaken if relatively good data comes out for Japan. We will be also looking at ChfJpy. On the flip side if weak data comes out we could take a look at AudJpy and NzdJpy. It all depends on how Jpy is doing at the time of news.

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.

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 Safe haven status of Japan has been rearing its head fairly often as it struggles to retain its place in the old guard of the forex establishment. The CadJpy was under that influence lately as Canada learns a little about how things work when there is a global crisis going on. this effect might not last for that long so it maybe a short ride if you go with this pair.

The Australian Dollar has gained strength against the Dollar in the last three days as the commodity bearing economy of Australia makes its way during the pandemic. The Dollar has been giving ground as Americans wait for stimulus payments to come through and President Trump talks about getting America open for business again.

The Australian Dollar made a big move today against the Canadian Dollar. The AudCad rose up very smoothly and consistently and it looked like a good play for a Buy order. This was the first time in three weeks that I saw less volatility in the movement of a currency. So this is a sign that the currency markets are starting to become less volatile. It is probably also because both of these currencies are tied to commodities like oil and gold.

The AudUsd currency rose today in the New York Session. The Australian Dollar is the gateway to the Asian economy and it appears that the general idea is that the Australian economy will be able to manage through this tough period. The U.S. economy is expected to take a large hit as unemployment applications have risen to record numbers. Australia is tied to the commodity market as well. Things like Gold.

The British Pound fell against the Australian dollar as speculators and central banks weighed the fall out from the latest economic news. There was an announcement that the Prime Minister of Britain is in ICU care now. The Australian dollar is finding its way as the implications for their economy are figured out.

The Canadian Dollar is finding solid ground to were it strengthens to end the week. It strengthened against the Australian currency and the Euro. The moves were a bit choppy so the market is still very volatile and I would trade with caution. The best thing to do is stay on the side until markets calm a bit.

The Canadian Dollar is weakening against the Japanese Yen in Mid day trading. the Currency pair has been going down steadily but not in a straight line. More of in an up and down motion that leans toward going down more on bars. The CadJpy is a good indicator of sentiment about the Coronavirus economy. Japan is retaining its safe haven status with this pair quite nicely.

The British Pound and the Japanese Yen are both beating the dollar in early trading in the New York session. The Japanese Yen had taken a bit of a back seat to the dollar last week but it looks like it is recovering some of those losses. Forex trading is more volatile since Coronavirus but it could be getting back to more stable trading soon.

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 British Pound weakened against the Dollar as the Federal Reserve recently lowered interest rates. The Japanese Yen also remained relatively strong against the Aud. Canadian dollar also remained relatively strong. This was during Asian and London Session. So the dollar is performing a little better as a safe haven than the Japanese yen.

Over night the GbpUsd currency pair continued to weaken as America rolled out an economic stimulus plan to combat the Coronavirus fall out. The Japanese Yen held on to its strength over night despite the Usd remaining strong.

The British pound gained against the Canadian Dollar Friday during all three sessions in the forex market. Central Bankers are keeping a close eye on their economies so they can determine how to best approach the markets.