FX Thoughts on Coronavirus

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 UUS 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 UUS dollar and sell commodity currencies NZD and AUDEURUSD
fxTrend Analysis

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