Top Currency Pairs For Forex Market Investment in 2020

The forex market has shown much stability despite many uncertainties due to global pandemic COVID-19. This is because many analysts have already predicted the economic slowdown that will be caused by lockdowns.

This stability is also due to actions of Central Bank. in USA, interest rates have been bought to zero. Similar measures have been bought in place by the UK and Japan.

Further, there are several factors that will affect the currency market in May. From negative interest rates to Brexit to the concerns about second waves of disease. All these will affect forex market.

In this article we have compiled some currency pair tips for investment in 2020 –

#1. GBP/USD

GBP has been quite volatile due to the impact of corona virus and ongoing negotiations on Brexit. The economy at the same time has been quite affected due to pandemic. A recent study shows that services PMI has dropped to 13.4, which is quite low.

Also the bank rates and quantitative easing policies remain unchanged. Bank of England will decide on asset purchasing in June.

Therefore due to Brexit, corona virus, and bank policies, GBP/USD will see more volatility in the coming months.

#2. USD/SEK

The pair peaked at 10.38 in March, but after that, it has seen a slow downward trend and is now trading at 9.80. Sweden has adopted a relaxed strategy in dealing with with corona virus.

The government did not order any lock down and the number of infections have been increasing. This can negatively impact the economy.

With interest rates at zero, the USD/SEK pair can witness volatility and show a downward trend.

#3. USD/ZAR

The currency pair reached an all-time high of 19.0946 as the corona virus outbreak. The South African economy was in recession before the pandemic started.

The currency pair of USD/ZAR has been in consolidation and has reached an all-time high as the country starts to reopen. This has led to low volatility in trading.

The South African Central Bank will give its decision on interest rates on 21st May. Also the base lending rate has been at a historic low of 4.25%. This can lead to an increase in volatility in forex trading of this currency pair.

#4. USD/NOK

The currency pair is to be watched in May due to a fall in crude oil trading due to global lockdown. The pair reached a record high of 11.7527 in March after which the pair has been relatively calm in trading.

The country has started to reopen its economy due to which the crude oil prices have been resilient. This movement in crude oil prices can lead to an increase in volatility.

#5. EUR/USD

The EUR/USD pair reached a record high of 1.1447 after which the pair has been moving sideways. There are several factors that can lead to volatility in the trading of this currency pair. First, the futures market in the US has been trading on negative interest rates. Second, there has been growing tension between Germany and the EU.

Final Word

 This is the top currency pairs to look out for in 2020.

Source- https://www.moneyliferesearch.com/top-currency-pairs-for-forex-market-investment-in-2020/

Gold Analysis- Deep Research & Update on Gold Movement

Good Morning All!

Now find out the DEEP analysis & research for Gold Market investment update for you:

The old analysis and the price have also broken through the medium-term downtrend line that we analyzed 2 weeks ago, it is true that only sooner or later is still the mainstream. The wave is going up and down with a large amplitude, so watch carefully before making a decision to avoid as many people have lost money because the wave was too strong and now there are many signals to reduce fake. We will come back to the weekly analysis more closely so that everyone can refer to and offer trading directions for the new week.

Gold basic analysis old week overview and new week orientation:

The world gold price has reached the highest level in nearly 8 years.

– Gold price increased sharply because the number of unemployed people in the US showed signs of rising again.

– Gold price continues to peak in the context of US-China tensions escalating and the possibility of large budget deficits of the US economy.

– Gold is also supported by the quantitative easing policy of the US Federal Reserve – Fed, and the target of interest rates maintained at 0%.

– Although US Federal Reserve Chairman (Jerome Powell) has overshadowed the prospect of bringing interest rates back to negative, the quantitative easing will be unlimited and interest rates holding the zero zone in the near future will continue. support for world gold prices to go up.

– U.S.-China tensions continue to escalate when President Trump declares he doesn’t want to talk to Chinese President Xi Jinping, showing his relationship with Beijing is deteriorating rapidly because of COVID. -19. The US president affirmed that if he now severs his relations with China, the US could “save $ 500 billion”.

– Remarkably, the price of gold seems to have just started because up to this point, gold is still considered as the safest haven and continues to bring profit to investors. The context of economic uncertainty, budget deficit as well as bonds yield low yields.

Gold technical analysis old week overview and orientation for the new week-

On the W chart, everyone can see that Gold closed the weekly candle with a relatively good bullish candle and formed a continuing bullish pattern. Currently, gold is still supported in the context of US-China tensions escalating and the possibility of large budget deficits of the US economy. In opinion, at the beginning of the week, if there is a signal from the downward adjustment candle, it is likely that Gold will drop to 1730 or deeper than 1700-1720 but it is not except TH, so it is possible that Gold may go up early in the week so sell. At the moment, it is still risky, We still remind everyone that they should wait for signals from the new market to trade Buy or Sell because of the relatively large margin.

– On the H4 chart, drawn two yellow areas which are the support areas for the gold price to go up when there is a signal. The second yellow zone will be the area where the price heading to retest the falling trendline has broken last week but to be able to decline here next week will probably be relatively difficult. In order to have a specific and safe entry point, at the beginning of the week, We will analyze more carefully when there are direct signals from the market for everyone to refer to. Please remember to follow the paid signals of Money Life Research.

Daily News: News always Impact on Market Movement

Good morning! Have a nice day!

Check out the important news & top news those will impact on market movements:

– America takes risks to open the economy, change new approaches
The White House is considering eliminating task force # Covid-19, and wants to switch to a different approach to dealing with the pandemic, currently the first wave of infection seems to be subsiding, Vice President – Mike Pence said.

– President Trump seemed to accept the risk of subsequent infections when talking about efforts to reopen the economy on Tuesday, he said: “Will some people get infected? It’s correct! Some people will be seriously ill? It’s correct! But the country needs to reopen and we have to do it soon. ”

– The eurozone economy is expected to fall by 7.7% this year, the European Commission said in its spring economic forecast, it also said inflation will fall to 0.2% due to lower spending because of income. reduction..

– Forecasts came after the March retail sales data for the bloc showed the sharpest decline in history, while German factory orders also saw the sharpest decline in 30 years.

– On the good news, Germany is expected to announce easing of blockade measures including the possible reopening of the national championship football tournament.

Read the daily news & know the impact on market

Source of Content- https://www.moneyliferesearch.com/daily-news-market-will-react-on-top-news/