Currency Monitoring GBP/CAD and GBP/JPY Forecast

Currency Monitoring GBP/CAD and GBP/JPY Forecast - Forex Trading tutorials for beginners in the Philippines
Talking with the more successful investors and traders in the Forex market, majority of them will tell you that the driving force behind their success ay syempre dahil kabisado nila ang galaw ng Market. They have their ability to skillfully predict the movements of prices, o yung tinatawag natin na price action.

Araw-araw maraming mga Pilipino ang gusto kumita sa pamamagitan ng pag-Trade sa Forex. At ang sekreto para kumita tayo sa pag Trade, ay dapat may wastong understanding sa mga factors that affect the movement of a currency's exchange rate. Kumbaga, kung wala kang idea na basahin ang Chart sa iyong platform, chances are, mahihirapan ka talaga.

The Foreign Exchange market trades 24 hours a day, six days a week, kung sa Pilipinas ka, nag-uumpisa ng around 5am - 6am sa umaga ng Lunes at matatapos ng 5am - 6am ng Sabado.

Huwag natin kalimutan na kapag sinabi nating exchange rate, ang ibig sabihin nyan is the price that one currency can be exchanged for another.

GBP/CAD is the forex ticker that shows the value of the British Pound against the Canadian Dollar; telling traders how many CAD are needed to buy one Pound Sterling. The GBP/CAD rate is heavily influenced by the performance of the US Dollar and the Euro and related economic and political events.

The following Currency Monitoring is set to display the strength of both British Pound and the Canadian Dollar, screenshot taken as of 8:10 pm. Please take note that both currencies went down below zero value.

Currency Monitoring GBPCAD  - Forex Trading tutorials for beginners in the Philippines

The following shows the daily chart of GBP/CAD based on Trading Central forecast

GBPCAD trading central idea - Forex Trading tutorials for beginners in the Philippines



Sterling Vulnerable to 'L-Shaped' Recession -- Market Talk 


👉 The odds of a deep recession have worsened and sterling is particularly vulnerable since the U.K. economy already faces a possible hit from Brexit, Societe Generale says. The risk of an L-shaped "recovery"--a long-lasting downturn where any recovery is very slow--is higher following a rise in coronavirus cases in the U.S., SocGen's Kit Juckes says. The U.K. is also at risk of a resurgence in cases after photos showed swarms of people on England's Bournemouth beach on Thursday, he says. Without a vaccine, the global economy can "only hope to recover some of the lost output and jobs" as a result of coronavirus. GBP/USD falls 0.2% to 1.2406 and EUR/GBP rises 0.3% to 0.9053.

The following Currency Monitoring is set to display the strength of both British Pound and the Japanese Yen, screenshot taken as of 8:10 pm. Looking at the chart, it seems that these pairs went separately. JPY went up while GBP dives down.

Currency Monitoring GBPJPY  - Forex Trading tutorials for beginners in the Philippines


The following shows the daily chart of GBP/JPY based on Trading Central forecast

GBPJPY trading central idea - Forex Trading tutorials for beginners in the Philippines







Early this morning, Dow Jones Newswires released the following news reports:


Dollar Could Rise on Renewed Risk Aversion -- Market Talk 


The safe-haven dollar could benefit from renewed risk aversion on worries over the resurgence of U.S. coronavirus cases, MUFG Bank says. The market seems "reassured" by President Donald Trump's remarks that U.S. deaths are "way down" despite a spike in coronavirus cases but this stance could prove "hugely damaging," MUFG's Derek Halpenny says. "Over the short-term we continue to hold a bias in favor of a possible correction lower in risk appetite, implying that the current resilience is unlikely to last," he says. "If the dollar does turn stronger, the Canadian dollar and sterling are two of the G10 currencies that could underperform most. The dollar index falls 0.1% to 97.3500.


Euro Unlikely to See Big Moves Vs Dollar -- Market Talk 


The euro is unlikely to see any significant moves against the dollar in either direction as the coronavirus pandemic is easing but risks remain, Commerzbank says. "Despite sometimes better than expected economic data and positive news on both sides of the Atlantic, one thing is becoming increasingly clear: things are getting better but are far from over and as a result cannot cause long-lasting optimism," Commerzbank's Antje Praefcke says. "That is why EUR/USD is limited on the upside whereas a strong downward move will not be seen either, with volatility remaining elevated for now." EUR/USD rises 0.1% to 1.1226.