By James McKee
Since the recent G20 summit all eyes have been on the USD, GBP, and the EUR to see where the Forex Currency Exchange is headed for the near future. Speculators predict that the AUD will be experiencing a correction due to the fact that gold is experiencing a surge in value and Australia is one of the world’s largest producers of gold. The current gold prices have resulted in an artificial inflation of Australian currency is sure to correct itself soon.
Such corrections are sure to increase the lucrative aspects of the EUR|AUD pair in the coming days, the rally has already begun and I am sure it will continue. Such information regarding current events is very helpful to traders looking for a pair to watch in order to gain some pips quickly and efficiently. Pairing the EUR with the JPY would also be a great strategy right now because the Yen certainly seems to be on a falling rate of value as of late. This is great news for many of us looking for serious pippage on a given pair in the forex exchange.
Utilizing proper chart techniques including pivot points will be key in being successful with regard to the EUR, do not jump in and expect a miracle just because you know that a given currency is going to behave a certain way overall. There will always be lows to go along with the highs of a given pair. The Bank of Japan is still acting in earnest in an attempt to lover the value of its currency on a regular basis which is a great indicator of the value of their currency. Bearing these realities in mind will help you to avoid many of the pitfalls in the Forex Currency Exchange. Stay nimble, stay aware and as always happy trading!
Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates regularly.