Planning Trading Strategies for Current Forex Volatility.
Trading Binary Options During Forex Currency Volatility is the Easiest!
I have mentioned in a past article about the current volatility of the main world currencies namely the Pound Euro, US Dollar and the Japanese yen. With the recent upheavals in politics from Brexit to the election of Trump as US president, fortunes have been made and lost by traders on the current forex currency volatility. If you are smart you will not just trade on what the experts and economists predict, because believe it that this is not set in stone at all…and sometimes during these major events also go with your gut feel and the average layman’s common sense when setting trades and planning trading strategies.
The experts have got it more than half wrong the last few times concerning currency predictions during the major events that have happened up to now, so yes; use the data you read on financial websites and combine it with your own predictions to set profitable trading strategies. If you are trading on binary options platforms currency volatility can be profitable because you can run trades for 60 and 90 seconds, and if you have a gut feel for what YOU think is going to happen… then go with that!
On the commodity fronts you will have noticed the largely fluctuating crude oil prices, gold and other precious metals being used as a safe haven by investors. Watch out for future movements in forex currency volatility that is going to continue with the now Italian politics and recent voting. This is certainly going to affect the Euro but beware because it can be short term. watch your commodities supply and demand over the festive seasons and weather patterns if you trade agricultural commodities too.
Forex Currency Volatility with the Euro
We all experienced the slump in the Euro with the announcement that the Italian Prime Minister Matteo Renzi mentioning he will resign after the defeat in the nation’s constitutional voting referendum. Even the yen was affected recently with the disclosing of upcoming Trump policies, and watching these movements, you can see that currencies react a lot faster to major political events. The Euro could end up on par with the dollar price and is currently trading at the lowest levels since early this year. Remember the forex currency volatility when the Brexit results came out causing a massive blow to the GBP, and how the dollar reacted with uncertainty just hours after Trumps successful win.
Experts predict another drop in the pound when Article 50 is triggered in March 2017 but that is what they say. Sure they may be a temporary spike there but successful trade negotiations could means a stronger GBP after all. Watch for concerns and skittish investors affecting the Dollar prices come January which can mean more forex currency volatility for all the main currencies too.
It is vital to watch all the fundamentals in the financial markets news but keep in mind when you are working out trading strategies that what the economists and brokers and large corporations predict is NOT always set in stone. A lot of successful trading strategies have been made out of dinner conversations between the average person when they voice their own views and predictions of outcomes ranging from politics to other major events which cause forex currency volatility. Some of the average person’s predictions have amazingly come true, allowing smart traders to reap great profits just from this.
If you are trading binary options during major events you can also ride the wave successfully in short term trades as long as a minute. That means when there is an outcome in an election, good news in unemployment data, or a government policy you can catch an upswing or downswing just right!