Originally posted by Bogdan G. Click here
for the full review.
My Advice on EUR/USD in 50 Words:
It is highly volatile during news announcements so you should stay away from this currency pair at least 30 minutes after the release. False moves and whipsaws are frequent at those times and that makes technical analysis very difficult and unreliable. One more tip: if Mario Draghi (Current President of the E.U. Central Bank) or Ben Bernanke (Current Chairman of the U.S. Federal Reserve’s) is speaking, let them finish before trading. The reason is the same as the one mentioned above.
My Advice on USD/CAD in 50 Words:
Canada is one of the largest Oil providers for the United States. Due to the large volume import – export business, the economies of the two countries are highly interconnected and this makes their exchange rate to be pretty stable, having a low Daily Range. Oil price can affect the rate.
My Advice on USD/JPY in 50 Words:
Due to the relation between the US Dollar and the Japanese Yen, this pair tends to be less volatile in normal conditions. It is known that Bank of Japan intervenes in the market in order to stabilize or modify the exchange rate and this can lead to sudden spikes.