Japanese yen overstretched on currency strength indicator

In the run up to any UK news the British pound is often one of the best currencies to consider early in the London trading session, either to position ahead of the news, or to wait until the data has been released. However, this morning the most compelling currency has been the Japanese Yen which is very over stretched across a number of time frames on our currency strength indicator. The result has been a number of potential trades to sell the YEN. This is the principle way we approach the forex market - focus on a single currency & consider its price behaviour against its counter parties to see which is offering the best opportunity to trade safely and profitably. A sell on the YEN usually denotes positive market sentiment and this morning we have seen some mildly bullish moves in Globex on the NQ & ES indices, confirming this risk on sentiment. The USD/JPY is also ticking higher, giving us additional confidence. Of...
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Aussie dollar strengthens as RBA keep rates on hold

The main focus overnight was in Australia with the RBA deciding to hold the current cash rate at 2.25%, with no cut. This decision was against the backdrop of declining commodity prices and a slowdown in China with many expecting the rate to be cut to 2.00%. As a result the Aussie dollar strengthened on the news against many of the major currencies, with another nice move on the EUR/AUD on the 15 minute chart. The Quantum accumulation and distribution indicator initially defined the support and resistance region with the 1.4360 being the key level of support and a region that had been tested on several occasions prior to the news. The bearish sentiment was confirmed with the trend monitor to the bottom of the chart which continues to remain bearish in this timeframe with the move lower accompanied by high volume and confirming the short term bearish trend. To the left of the chart and the Ninjatrader currency strength indicator,...
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NinjaTrader launches forex brokerage

Denver, CO, Tuesday, April 7th, 2015 - NinjaTrader Group, LLC has announced the addition of forex trading to the services available through NinjaTrader Brokerage. Users of the awardwinning NinjaTrader platform can now access the world’s largest and most liquid market directly through a NinjaTrader Brokerage trading account. “We are excited to expand our brokerage services offering with the addition of spot forex”, stated Raymond Deux Founder and CEO of NinjaTrader.    “NinjaTrader users have continually recognized the advanced analysis and automation capabilities of the platform are an ideal fit for the highly liquid forex markets. Combined with our Ecosystem of over 450 partners and add-on applications, NinjaTraders’ extensibility allows FX trader’s to customize the platform to match their evolving requirements.” As an Introducing Broker for FXCM, NinjaTrader Brokerage clients will have access to one of the industry’s largest networks of FX liquidity providers. This partnership will deliver savings to NinjaTrader clients through super tight spreads and deep discount commissions as low as...
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Forex currency strength indicator explained

Question Hi Anna, Firstly, I just wanted to say I've just finished "Forex For Beginners" and I thoroughly enjoyed the book; found if extremely helpful and useful. Opened my first forex account on Friday of last week. Made some mistakes at first, lacked the discipline to follow my strategy, I think I was a tad over keen to trade at first. I've just purchased "A Complete Guide to VPA" so I'll start on that tonight. I have a quick question though if you wouldn't mind answering. In Forex for Beginners, you use the Currency Strength Indicator to look for potential indicators of an upcoming reversal. And then from this you use the currency matrix and analysis to confirm the reversal. I was just wondering, if you could use the same strategy to indicate a continuing trend? If this is explained in the book I've just purchased I apologise, I just thought I'd ask. For example, if both the Aus and Usd are...
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