EURUSD started to drop again last week and it seems to be in the process to retest the 52-week low of 0.9952. Jackson Hole Meeting, the annual global central banking conference is coming this in this Thursday 25 Aug till the weekend of next week.
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EURUSD now is at a level that we have never seen before since 2003. We saw a few moments when EUR is lower than USD last week.
This week there will be a European Central Bank (ECB) Interest Rate Decision announcement on 21 Jul and next week there will be an FOMC Interest Rate Decision and Press Conference on 27 Jul.
As we always stated previously, we believe in diversification, not only in just diversification on different stocks or currencies but also diversification in the different asset classes. Each asset class has its own cycle, when the stock market is good, the forex market might be bad and it can be another round, or both are bad at the same time while some other asset class is doing good.
Today we are going to talk about a very debatable asset class – Crypto and how can you get crypto exposure in a low risk way.
After running a few of our Martingale strategies, especially Ophiuchus EA for almost 3 years and supporting many of our clients in running this strategy, we managed to conclude a few key success factors for Martingale Strategy Trading. We hope this sharing can help our existing clients to be more successful and new clients to be successful. This article is written specifically for our Ophiuchus and Limitless users but it also can use for any general Martingale Strategy Trading.
The next FOMC Interest Decision and Press Conference will be held on 14-15 Jun 2022.
As you can see on the market yesterday, US CPI data for May was unexpectedly rise to 8.6% year over year while the market consensus is only 8.3%. There is no obvious sign that US inflation is under control although multiple rate hikes of 0.5% for the next few FOMC meetings are the market consensus at the moment. There are also some analysts that are predicting CPI next month might be as high as 9%.
The next FOMC Interest Decision and Press Conference will be held on 3-4 May 2022.
The market continues to be very volatile throughout the whole of April 2022. Not only disappointed earning releases from giant companies like Netflix and Amazon cause the US stock market to drop significantly but Russia’s decision to stop their gas supply to Europe has caused EURUSD to drop to a level that is lower than the covid crash in Mar 2020. The low during the covid crash is 1.0637 and EURUSD closed yesterday at 1.0543.
Diversification is always our gene. 9 months ago, our R&D team has started to explore diversification possibilities for Ophiuchus EA. After some time of research, the team finally decided to add AUDCAD support for Ophiuchus EA.
The next FOMC Interest Decision and Press Conference will be held on 15-16 Mar 2022.
In the current market, there are way too many uncertainties such as the Russia-Ukraine war, a new 40 years high Inflation rate of 7.9%, FOMC decision on the speed of rate hike, sanctions between Russia and other countries, extreme volatility in the commodities market. Hence, it is time for us to be cautious again.