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FX Thoughts on Coronavirus

2020.03.30 18:40 GMT

High volatility of the Forex market brings traders back. What would be my advice to them? 

Stay away from the market. 

  • The economic damage is unknown
  • Helicopter money and bazooka bond buying can have unexpected effect 
  • Technical levels are broken
  • No interest rate advantage for the $US dollar

How to trade now? 

  • Don't trade. But if you are still tempted...
  • Trade from important levels - monthly highs/lows and psychological levels 
  • Don't be against the momentum
  • If the sell-off in the stocks continues, buy the $US dollar and sell commodity currencies NZD and AUD

forex
7 months, 4 weeks ago
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