USD now moving into overbought on the 4 hour chart

by Quantum Trading Comment Closed
Without wishing to downgrade this evening's FOMC minutes, which will no doubt result in the usual volatile market moves, stop hunting & general shenanigans, the main FED event takes places on Friday at 6.00 pm London time. This is when Janet Yellen is due to give an important speech about the US economic outlook, and so one to watch. Meantime USD strength has continued overnight across the majors and into this morning, with German PPI helping to give the eurodollar a shove lower. Other items of note this morning include the MPC (Monetary Policy Committee) of the BOE playing their standard formation (football parlance) of 0-0-9. In other words 9 defenders, no midfield & no strikers. For FED watchers FOMC Member Evans has been speaking in Munich and has been simply repeating his call for a delay in raising interest rates. No moves expected as he is re-iterating his well known stance as a dove. This is why we need to know where...
Read More

USD weakness continues to drive Cable

by Quantum Trading Comment Closed
USD Weakness Continues to Drive Cable USD weakness continues to drive Cable higher. GBP/USD rallies steadily. This reflects dollar selling pressure. Traders see bullish momentum in the pound against the greenback. Cable selling off sharply on the back of poor GDP figure falling to a low of 1.5176, but recovering sharply and back over key support at 1.5220, and with USD continuing to look weak no reason why it cable can't continue higher. It has already touched 1.5260 & beyond this price level we are then looking at 1.53 and beyond. This afternoon we have the CB consumer confidence release at 2.00 pm London. USD weakness has also played its part in these moves. USD index is now the one to watch - running into the release and also ahead of tomorrow's FOMC. Volume Price Analysis Confirmation Volume price analysis (VPA) confirms the drive. Rising prices with increasing volume show buying conviction. Low volume pullbacks signal weakness in sellers. Quantum currency strength indicator ranks GBP high...
Read More

Cable continues to build bullish momentum

by Quantum Trading Comment Closed
Cable Continues to Build Bullish Momentum Cable (GBP/USD) continues to build bullish momentum. Buying pressure grows steadily. Price pushes higher on consistent volume. This signals sustained demand for the pound against the dollar. For forex traders in London yesterday morning, eurozone PMI and UK retail sales were the main items of fundamental news. And it was Cable again which provided us with some important trading lessons. The first was how we need to be aware of positioning ahead of any major news release. In the run up to the retail sales number, Cable had been basing around the 1.4920 support platform, having come off the 1.4975 high of the previous evening, thereby creating the start of what looked to be a down candle. However, as always is it the daily chart which is so important, providing us with a more macro view of any currency pair, and here Cable has been very bullish since bouncing off major support in the 1.4898 region. Just Ahead Just ahead...
Read More

Euro oversold in all timeframes on currency strength indicator

by Quantum Trading Comment Closed
Ahead of the German ZEW data this morning, markets are positioning for a move in the euro dollar, with the euro now heavily oversold and the US dollar equally over bought in the faster timeframes. Using the currency strength indicator in multiple timeframes provides a fast and visual picture of currency strength and weakness, with the euro (the gold line) now deeply oversold from the the 5 minute to the 30 minute timeframe, and preparing to reverse the longer term bearish sentiment ahead of the news. Apart from the ZEW, the only other ongoing euro news is of course Greece which continues to weigh on the single currency. Finally remember that any market or currency can remain over extended for some time, and as always patience is the key coupled with the price action on the charts. The currency strength indicator is always the starting point to identify potential strength and weakness in an individual currency. Then it's time to consider...
Read More

NinjaTrader launches forex brokerage

by Quantum Trading Comment Closed
NinjaTrader Launches Forex Brokerage NinjaTrader launches forex brokerage services. This expands options for forex traders. The platform now offers direct forex execution. Traders access competitive spreads and leverage. Benefits for VPA Traders Volume price analysis (VPA) users benefit greatly. NinjaTrader's charting integrates Quantum indicators seamlessly. Trade forex pairs with VPA tools like currency strength and matrix. Anna Coulling's methodology applies directly to the new brokerage. Why This Matters The launch combines powerful charting with brokerage. Execute trades without leaving the platform. Quantum indicators enhance relational analysis on forex. This setup supports disciplined, volume-based trading. NinjaTrader's forex brokerage opens new doors. Start using Quantum tools for confident forex execution today. NinjaTrader Press Release 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...
Read More

Forex currency strength indicator explained

by Quantum Trading Comment Closed
Question Hi Anna, Firstly, I just wanted to say I've just finished "Forex For Beginners" and I thoroughly enjoyed the book; I found it 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 For example, if both the Aus and Usd are...
Read More