Tag: currency meter

Using the MT5 CSI currency strength indicator for scalping

In this short video we explain the power of using the Quantum Trading currency strength indicator in multiple timeframes on the MT5 platform. And in this example we are using the MT5 platform once again which provides a much wider choice of timeframes using both the standard and custom options. Here we have the currency… 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 »

Watching the euro

Following last week’s turbulent price action, no surprise that today the markets have been a litte muted with the added bonus the Shanghai Composite only fell 5% in overnight trading. And with Japan closed for it’s annual Coming of Age Holiday even the Nikkei could take a day off! Meantime last Friday the euro was… 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 »

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 »

Cable waits on PMI

New trading month sees the usual crop of PMI releases. China has already reported today we have the numbers from Italy, Spain and France as well as the UK. Although UK economy is predominantly services based, the manufacturing number has been managing to hold above the key 50 level. From a technical perspective so far… Read more »

Quantum Trading apps now available on Tradable

David and I delighted to announce the range of Quantum Trading indicators and apps are now available on Tradable, and both David and I are excited to be associated with such an innovative and dynamic company. Tradable, available on Windows or Mac OS, has a unique interface which enables traders to download and arrange third… Read more »

Eurodollar bears take control

Although the market is focused on tomorrow’s release of the FOMC minutes, an event guaranteed to cause a degree of market volatility, it is the release of the CPI and Core CPI numbers earlier in the session which are probably even more important. Of the two releases it is the Core CPI the FED pays… Read more »

And now we wait for the forex market to open!

Have been reading that carnage is expected and word is EUR/USD has already dropped to 1.1029 – although my MT4 hasn’t started as yet, so we will have to wait & see. Meantime here are some levels for some of the euro pairs : EUR/USD – was already bearish & shorts at CFTC increased last week…. Read more »

Central banks and GBP centre stage on currency matrix

We have four central banks on today’s trading horizon, BOJ, RBA, BOE & later this evening we have interest rate decision, policy statement and a press conference from the RBNZ. I really must come up with a collective noun for the CB’s! In between we have the Manufacturing Number for the UK where forecast is for… Read more »