FirewoodFX guides traders to success
While New York confirmed its first COVID-19 charges in January 2020, U.S. stocks plummeted. Over the next few months, uncertainty continued to grow in global financial markets as the number of confirmed cases increased. Then, on March 11, the announcement of a global epidemic by the World Health Organization sent the market into a state of shock.
This negative view has made the forex market change dramatically this year. For example, take the most popular currency pairs in forex trading: EUR / USD and GBP / USD. The average monthly EUR / USD average is 250-350 Percent Points (PIPs) per month while GBP / USD is 600-700 PIPs per month. But in March, the EUR / USD crashed to 900 PIPs in just 11 days. It peaked at about 500 PIPs a week later. We saw a similar pattern in GBP / USD, which fell to about 1800 PIPs in just 11 days and merged to about 1000 PIPs the following week.
This can be a time of high instability than the silver line. Most of our clients at FirewoodFX have been able to utilize the adaptability and expanded extend they have made to their advantage. Strikingly, one of them indeed overseen to book 55,000 benefits in a week’s time. In short, our clients were able to create a really great return amid the Walk 2020 flimsiness, much obliged to amazing FirewoodFX reserves and quick execution.
Some business sectors have been severely affected by the epidemic. Many organizations have found that their income is hampered by the closure of many departments and many of them have unfortunately had to be demolished or shut down.
But forex traders were not disturbed. This is often because forex exchanging can be done anyplace within the globe. In truth, as their clients’ success stories appear, forex exchanging is one of the foremost productive things one can do amid a closure.
For instance, markets have had exceptionally below earnings amid the savagery. This could increment traders’ presentation to slipping, which happens when costs vary when requesting. Similarly, dealers are at chance of encountering unsatisfactory shocks, unless the exchange is carefully overseen by their dealer.
FirewoodFX is well positioned to help its clients overcome this problem. We work with top financial providers to provide our customers with the best feed prices. In addition, our servers are hosted on Equinix’s NY4 data center, a state-of-the-art financial center that does not offer quotes and instant orders in a matter of milliseconds. Therefore, our clients can enjoy the high levels of expertise needed to navigate low-cost markets and high flexibility.
The epidemic has reminded us all that good health is one of our most important assets. Specifically, remind employers how important the health and well-being of their employees are. At FirewoodFX, we support the ‘stay-at-home’ policy and make it possible for our employees to work remotely.
When we first made this decision, there were some aspects of our business that needed to be adjusted. But thanks to our strong work ethic, new leadership and good communication, we have successfully switched to remote operation and will continue to provide the best possible services to our customers in this new system.
Another lesson we have learned from this catastrophe is that nothing keeps going until the end of time and the world is continuously always changing. All businesses must be arranged to adjust to circumstances of extraordinary push. Whereas we have no way of knowing when this issue will come to an conclusion, there’s one thing for beyond any doubt; this modern standard is more likely to remain. In arrange to outlive, businesses must grasp advanced change and make their operations more flexible whereas proceeding to supply the most excellent conceivable benefit to their clients. FirewoodFX is committed to doing fair that. We’ll endeavor to create beyond any doubt that we get out of this plague more grounded than we did.
The future of forex
The coronavirus problem did not just change the way we work. It has also changed the global forex market. Never before ever has there been so much turmoil in the financial world that we see today. All categories of assets from asset to finance have experienced significant volatility due to the epidemic.
Many experts in finance predict that the economy will not recover some time soon. We are likely to see a long-term economic crisis that will force governments to continue implementing emergency measures. Similarly, the global forex market also does not show signs of stability. But, as we have already discussed, there are opportunities here for those who are willing to take it and more importantly make it.
As calm steadily returns to the monetary markets, speculators ought to proceed to exchange forex. The forex showcase remains the biggest fluid within the world, bookkeeping for over $ 3trn of every day exchanging. There are numerous exchanging techniques that can be utilized completely different advertise circumstances and the adaptability of forex trading is what has made a difference it to ended up the biggest showcase within the world.