How Volatility affects our currency strength monitoring chart and MT4 platform (June 9, 2021)

When investing in the forex market, volatility is an important issue to consider. Understanding volatility, whether low or high, provides traders with an understanding of the risks inherent in trading during a specific time period. Volatility can aid you in deciding which currencies to trade as a Forex trader. It will inform a trader about whether to buy or sell a certain currency pair or even when to not enter the markets at all. 

Currency volatility is characterized by frequent and rapid changes to exchange rates in the forex market. In this video, we explore what FX volatility is and how to identify using our currency monitoring.

WHAT IS VOLATILITY IN CURRENCY TRADING?

Volatility in forex trading is a measure of the frequency and extent of changes in a currency’s value. Depending on how much its value deviates from the average — volatility is a measure of standard deviation – a currency can be regarded as having high or low volatility.

Always remember that more volatility means trading risk is high, but also more opportunities for traders to place a position as the price moves in a larger scale.

Yesterday's currency performance puts the Swiss Franc (CHF) on top while NZD at the bottom. But nothing too volatile since the chart scale only plays between the +30 and -30 Levels.

currency monitoring chart - How Volatility and currency strength affects the FX Market (June 9, 2021) Forex Trade Signal Review

Here is our FREE Trade Signal from our Telegram VIP Channel:

EUR/AUD  ⬆️BUY⬆️   @  1.57400

1️⃣ TP  1.57655

2️⃣ TP  1.57880

3️⃣ TP  1.58120

✂️ SL  @  1.56925

↗️  www.richdadph.com/p/eur-aud.html 

#EURAUD    #TradeIdea

EURAUD Daily Chart Analysis - FREE Signal Telegram VIP channel (June 9, 2021) Forex Trade Signal Review

#DailyBrief | Things traders need to know today:

Wednesday, June 9, 2021

👉 US major indexes continued the consolidation near record levels on Tuesday, while the Russell 2000 added 1% and meme stocks continued the rally. GameStop (GME) is set to report after the close on Wednesday. European and Asian indices closed mixed.

👉 The U.S. dollar was mixed against other major currencies, the Dollar index (USDX) climbed above 90 despite the yield on 10-year Treasury moving lower to 1.53%. US job openings jumped to a record of 9.3 million. 

👉 EUR/USD dropped 16 pips to 1.2174. Official data showed that the eurozone's GDP fell 0.3% on quarter in the first quarter (vs -0.6% expected). Germany's ZEW investor confidence index was posted at 79.8 in June (vs 86.0 expected). 

👉 GBP ended lower at 1.4153 on concerns about delayed reopening in the UK. 

👉 AUD was slightly lower at 0.7736 amid USD recovery. 

👉 USDJPY closed higher at 109.482. 

👉 NZD was down 0.46% and ended below 0.72. 

👉 USDCAD rose for a second session to 1.2115.

👉 Gold decreased to $1,892.82. 

👉 WTI crude (SpotCrude) hit $70 before retreating. US crude inventories fell by 2.1 million barrels last week. 

👉 Bitcoin lost 2.4% to $33,620.42 after Trump called it a scam against the dollar while, Ether slid 6% to $2,500. 

TRADE SIGNAL SUMMARY:

Tuesday, June 8, 2021

GBP/CHF ⬇️SELL⬇️  @  1.27200

GBP/JPY ⬇️SELL⬇️  @  155.100

GBP/USD ⬇️SELL⬇️  @  1.41800

EUR/USD ⬇️SELL⬇️  @  1.21900

GBP/CAD ⬇️SELL⬇️  @  1.71200

USD/JPY ⬆️BUY⬆️  @  109.300

USD/CAD ⬆️BUY⬆️  @  1.20700

XAU/USD  ⬇️SELL⬇️  @   1899.45

EUR/GBP ⬇️SELL⬇️  @  0.86000

GBP/AUD ⬇️SELL⬇️  @  1.8265

GBP/CAD ⬇️SELL⬇️  @  1.7090

CAD/JPY ⬆️BUY⬆️  @  90.585

EUR/JPY ⬇️SELL⬇️ @  133.29

EUR/NZD ⬆️BUY⬆️  @  1.6889