Currency markets are in worldwide riot, creating profitable opportunities for traders.
One of the foremost and famous currency pair, EUR/USD was a massive profit-making machine for speculators since last year. The bear market which we see in EUR/USD is more forceful than anything that ever been since the creation of EUR
Why currency futures now?
Price action questions the actual situation facing the european economy and western world. A stark contrast to eastern emerging markets. More uncertainty in global markets. Since everyone in dalal street are busy taking about nifty and bank nifty. On the other hand Indian currency futures are offering tremendous opportunity for the retail players at present situation.
Currency watchlist
Here are the following charts to give a visual representation:
JPY/INR
Japanese yen massively depreciated against the INR since 2013.The main mover as cited by reason is due to Bank of Japan’s monetary policy.
EUR/INR
Again EUR followed the same suit similar to JPY. But more forceful decline against INR main reason is due to ECB’s monetary policy program
USD/INR
Contrary to Everything USD appreciated against INR following the currency riot. FED coming closer to rate hike and strong US Economy is cited as reasons.
Keeping a close eye on forex and currency futures may provide many opportunities in the following days.
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