China’s COVID-19 epidemic is not expected to end, but forex trading has had no significant impact on other financial markets. Foreign currency trading is a popular investment option for investors who want to reap the rewards of wise investments.
People need to make plans and have enough money before the bull runs again at its exalted heights. We will be revealing the top currency pairs that are most anticipated in the coming days.
Performance of EUR/GBP and reasons to invest in the forex pair
Since the UK announced the Brexit, speculation has been high that the euro currency market would be disrupted in Europe. Things have settled down since the extension of the transition period was announced. Buyers are now hopeful that the market is stable. The currency pair traded in quarter two ranged between 1.2070 and 1.2815 on the exchange.
Comparing year-on-year performance, the Euro-British Pound has stabilized. There were high points on 9 August 2019, and 18 March 2020. It also reached its lowest point on 18 February 2020. It has risen steadily since then. This is a sign of hope.
PS: Long term holders would be able to benefit from both buying and selling. Investors will have opportunities intermittently based on the performance.
Both the United States of America (USA) and the United Kingdom of America (UK) are strong economies with Veto power. They have the potential to change the world through their decisions. The pasts of both countries are beckoning. The USD is the most traded currency while the pound sterling is the strongest. There is a domino effect when both currencies are transacted against one another. This will strengthen an investor’s position. The market has seen significant improvements from July 2019 to the present time.
It reached the peak at 16 December 2019, and then remained steady until it fell to the lowest point on 19 March 2020. It has not looked back since, and the Corona Virus pandemic did not stop its rallying and movement.
Japan is home to the third largest GDP in the world. The currency is therefore one of the most popular in Asia and the entire world. Experts and traders alike have faith in the Yen. The USD/JPY pair is in the shadows, just like any other currency pair. However, when you look at the brighter prospects of their economies, doubts are easily dismissed.
The pair saw a sharp plunge in recent years, as did other markets, in March 2020. It bounced back with investors still believing in it. It has been sustaining and trying again to regain its former glory from July 2019 to the current time in 2020. A wise buyer will know that the best time to make an investment is when the chips have dropped and not at their full potential. The US also has four times as much GDP than Japan and is the most powerful economy in the world. This is why even in the most difficult times there is always hope.
The currency pair is called the Swissie. The Swiss Franc (CHF), a safe haven for forex traders, is beginning to recognize the value of forex trading according to experts. People from all walks of life give their money to the Swiss bank in turbulent times. This is done to avoid taxes and other penalties. This decades-old practice has seen the country accumulate billions of dollars worth of foreign currency. The CHF base is an exchange currency that can be used to empower people.
USD/CHF are performing reasonably well together over the past year, avoiding the effects of Corona Virus. It has been at its lowest since July 2019 and it was last seen on 29th November 2019. It soared to the top on 9 March 2020, and it has maintained its graph with no major hiccups for its buyers. It is currently performing better than other money pairs in the current year. Having it in your portfolio will increase the investor’s chances of success.
The USA and Canada are neighbors with some restrictions on people who commute to work in either country. It’s a testament to the mutual friendliness and trust these countries have. The currency pair USD/CAD is the preferred choice for forex traders looking to invest.
It went through a slippery-sloppy phase in July 2019 like many others. It improved its performance and reached the peak on 15/03/2020. It is now keeping pace with traders’ expectations, despite a slight slump. Long-term buyers will be able to hold the currency for a while before selling. People shouldn’t be concerned about the ballooning deficit, as all G-10 countries are currently in the same phase.
What makes it so right to trade forex in 2020
According to the financial market, the best time to invest is when the market is at its lowest. Every industry is in trouble and falling because of the pandemic. It is working to increase the pace. For a longer term, a trader who is willing to take some risk would be a better trader. People who invested in 2008 during recession had sweet harvests after the dust storm passed.