Category: currency strength indicator

MT5 yen index daily chart now turning bearish

MT5 yen index

The daily yen index on our MT5 platform is now starting to signal a change in the bullish trend for the yen, which is seen all the yen pairs move strongly lower over the last few weeks. Now with markets starting to accept the trade negiotiations are perhaps not as bad as first expected, and… Read more »

GBP/JPY begins to turn on the daily chart

gbpjpy daily chart

The currency strength indicator on the daily timeframe has been signalling the UK pound as strongly overbought (yellow line) and the Japanese yen (magenta line) as oversold for some time, and today has finally seen the pair move lower following last week’s extended congestion phase in the 151 area of the chart. This period of… Read more »

Sterling bears out in force

A worse than expected UK manufacturing production figure of -0.4% against a forecast of 0.1% (-0.4% was the figure in December) has given sterling bears a further excuse to sell the currency, with some really nice downtrends in a number of GBP pairs. In addition industrial production also followed a similar trend coming at -0.7%… Read more »

Kiwi roaring higher on the currency strength indicator

Good to see the Kiwi on a bit of tear (the white line on the currency strength indicator), but comes as no surprise given how oversold it was at the end of last week. We’ve been tracking the NZD/USD which has had a huge move higher overnight & broken through the VPOC on the daily… Read more »

NZD and USD in focus on the currency strength indicator

Thanks to everyone for coming along to our forex webinar for the London session earlier, where our focus was the euro & eurodollar, particularly with some pretty heavy option expiry strike prices due up later today. Also in view was the kiwi which was in a similar state to the British pound ahead of Chancellor Osborne’s autumn… Read more »

GBP in focus ahead of Autumn budget

This morning’s highlight comes from Chancellor George Osborne here in the UK with his Autumn Forecast Statement, so expect lots of smoke & mirrors, volatility and opportunity to shake traders out of the market.For the British pound complex on the faster time frames, it’s been a case of some good moves lower against USD, JPY… Read more »

Aussie waits on RBA

Some really nice two way price action on the Aussie complex which started overnight on the release of Chinese data, namely GDP, the Industrial Production and the Fixed Asset Investment numbers. The hourly chart for the complex clearly shows volatility candles being triggered across the board (as denoted by the purple arrows), with the Aussie… Read more »

Don’t ignore the Kiwi – it can deliver some great trades!

A currency often overlooked by forex traders is the New Zealand dollar, which is a great shame because this commodity dollar can often deliver some impressive and consistent trades, particularly on the slower time frames. And for a reason we only need to glance at the daily chart of the currency strength indicator. Following a… Read more »

Aussie finding some bullish momentum

Of the three commodity dollars, namely the Aussie, Kiwi and Loonie it is perhaps the Aussie which finally appears to be showing signs of a potential reversal from its oversold state on the slower time frames of our currency strength indicatort (the blue line). And of the Aussie pairs it is perhaps the AUD/USD and… Read more »

Eurodollar regains its bullish mojo

At last Thursday’s ECB press conference it was enough for Mario Draghi to hint at further QE for the eurodollar to sell off sharply, taking the pair from a high of 1.1243 before coming to rest at the support platform at in the 1.1087/96 region. This support platform was tested again on Friday as a… Read more »