A simple teaser betting strategy can work wonders in terms of setting you apart from the crowd. I’ve been to the trade show and found out the likes and dislikes of the public. The simplest strategy that I observed was for each person to be given a sheet of paper and on that sheet of paper was a number corresponding to the price target for their chosen currency pair.
Then they took that sheet of paper and had to project what it would look like at the end of the day. Most people would bet on the highest price that would be reached. For example, if they were betting on the EUR/USD, they would bet that it would be over the figure of 6.40. At least, they will not go short if the price breaks above that price.
Now then, let’s see how European Economic Data impacts the Forex market. First of all, people are aware that the European Crisis is there. The only way we can predict the consequences of this crisis is to say that if it reaches a good level or does not, it will have a bearing on the future trading. Since the decision is too soon to make a forecast, they are hoping that the economic data will stabilize itself by now and will not cause any further effect on the market.
Secondly, the International Political news is very bad for the Forex market. All this will do is put a damper on the economy. I’m sure the political leaders of Europe are hoping that the turmoil is not that severe because there is much unrest in their own nations. It is understandable why they want stability.
In spite of all the problems there are, the biggest threat from the European Union has to be the eurozone. With this turmoil, things could get even worse. Furthermore, there is the growing risk that the debt crisis will spread to other European countries. With Greece about to fall into bankruptcy, all of these economic problems could destroy Europe.
The most recent data is showing that the European Union is suffering. I’m sure that the crisis will keep spreading. At the current rate that Greece is facing, it is going to cause major social unrest. This means that the Forex market will be affected also.
The economic and political events surrounding the European Union has caused a disruption in trading in the last two weeks. This has caused some investors to avoid trading in the Forex market.
Foreign Exchange trading is also affected. Since so many people are making trades in a time of uncertainty, there is a lot of movement. As a result, Forex prices will drop to their lowest.