Extremely strong moves we saw before the start of the Asian FX market. The news of the slowdown in the Chinese economy "hit" the markets in a period of thin volatility and led to aggressive purchases of the yen. The news earlier that Apple cut its forecast for iPhone sales for Q1 in 2019 in China was the initial turmoil. Apple fell to $ 145 per share in the aftermarket session.
These are some of the most aggressive moves that we can witness, but it seems to be a shocking moment of lack of liquidity and stress for the market. Typically, these crashes leave long queues behind them and regain losses and the "saw effect" can seriously hurt your bills if you plan to trade. It is advisable to stay on the side as spreads are expanding and volatility movements are aggressive and sharp in both directions. The event lasts until all the market noise is cleared and the news is not assimilated and adjusted for the "new normal" by traders and investors. These phenomena happen in seconds and you have no reaction time. You can only thank your stop loss (if hit) for protecting you from a much greater loss. Those who have been in the right direction and have closed in good time.
The most affected were: USDJPY, AUDUSD, NZDUSD.
Not long after, there was a crash at GBPUSD.
USDCAD is also not lagging behind.
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