Eurodollar bears take control

by Quantum Trading Comment Closed
Eurodollar Bears Take Control Eurodollar bears take control in recent sessions. Selling pressure dominates EUR/USD. Price pushes lower with conviction. This signals short-term bearish sentiment. Traders watch for continuation. 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 the most attention to, and a big influence on the likely timing of any rise in interest rates. Meantime, the USD appears to have found its mojo once again following last week's dramatic fall, with the eurodollar bearing the brunt of this resurgence. Daily Chart For Eurodollar The daily chart for the eurodollar is particularly interesting where weakness for the pair started last week with the failure to break and hold above the VPOC (volume point of control) in the 1.1167...
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CSI highlights GBP sell off

by Quantum Trading Comment Closed
CSI Highlights GBP Sell Off The Currency Strength Indicator (CSI) highlights GBP sell off clearly. It ranks currencies by relative performance. GBP drops sharply in rankings. This signals heavy selling pressure. Traders see weakness early. Ahead of the release of the Monetary Policy Minutes from the RBA, and tomorrow's CPI number for the UK, it's been interesting to see how the Aussie and British pound have been behaving in today's trading session. And of the two currencies it has been the British pound which has seen some heavy selling against both the USD and the Aussie. The hourly chart of the CSI (currency strength indicator) highlighted the extent to which the British pound was overbought, and Cable's failure to take out the resistance at 1.5688 signaled the start of a reversal in fortune for the pair and a move lower of over 100 pips.  And it has only been a combination of the VPOC at 1.5585 and support at 1.5578 that has prevented...
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NZD/USD rebounds following PBOC

by Quantum Trading Comment Closed
NZD/USD Rebounds Following PBOC NZD/USD rebounds following PBOC actions. People's Bank of China stimulus often boosts risk sentiment. This supports commodity currencies like NZD. The rebound shows renewed buying pressure against USD. Perhaps, not surprisingly, it has been the Aussie and Kiwi which have responded the most to the PBOC (People's Bank of China) move to devalue the yuan, with the AUD/USD completely erasing last Friday's and Monday's gains to end yesterday's trading session just over the key 0.73 level. Further falls overnight has seen the pair tumble to 0.7224 since when it has staged a remarkable comeback in the London session to trade (at time of writing) at 0.7330. The move off the session lows has also co-incided with our last VPOC supoort line on both the daily and weekly charts. On the daily chart the first target for AUD/USD is the VPOC resistance at 0.7395, followed by further resistance at 0.7438, and yesterday's high. However, the extent of the comeback for...
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Forget the euro, look at the British pound!

by Quantum Trading Comment Closed
In all the brouhaha about Greece and the euro it's easy to forget what else is going on in the forex market. Sometimes I feel Greece is taking up too much space in traders' heads at the expense of other markets and currencies. And for a perfect example of what I mean look no further than the continued strength in GBP which has seen some great trends in GBP/NZD & GBP/CAD & I'm still waiting for the GBP/JPY to turn lower, but only once we see a major reversal in risk sentiment. On both charts the NinjaTrader trend monitor has remained firmly bullish with only a minor transition on the GBP/CAD reflecting the recent pause in the longer term trend. However, moving to the NinjaTrader currency strength indicator to the left of the chart, here we can see that the British Pound, the yellow line, is now moving ever deeper into the oversold region on the daily timeframe, so this trend...
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GBP gets a boost from retail sales

by Quantum Trading Comment Closed
GBP Gets a Boost from Retail Sales GBP gets a boost from strong retail sales data. Positive figures signal consumer spending strength. This supports economic growth expectations. Traders see it as bullish for the pound. UK retail sales have given GBP a real boost higher & it's occupying six top spots on the currency matrix. Number was a great improvement & market has temporarily forgotten the negative CPI number. What's interesting is at 8.00 am at the London open, there was a huge buy of cable off an important order board level at 1.5520 with retail sales then just adding the momentum. Cable is also benefiting from USD pull back from its recent bullish move higher. The 4hr currency strength indicator is particularly revealing as the USD has been overbought for some time, but is now moving lower. The move higher in the London session has now tested the VPOC level on the daily chart, and we are waiting to see if this afternoon's...
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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...
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Terrific trend on the EUR/AUD this morning

by Quantum Trading Comment Closed
Terrific Trend on the EUR/AUD This Morning A terrific trend unfolded on EUR/AUD this morning. This cross pair delivered strong momentum. Price moved steadily higher. The London session amplified it. Traders spotted clear opportunities. In this morning's forex trading session with Anna and David, one of the currency pairs they focused on was the EUR/AUD, which was the strongest-performing currency pair in the currency matrix. The 60-minute currency strength indicator confirmed the longer-term position, with the euro (the orange line) climbing strongly towards the overbought region on the indicator, with the Aussie dollar ( the blue line) moving firmly towards the oversold region in this timeframe. The 5-minute chart alongside reflects the trend, with the trend monitor maintaining the bullish picture, and only moving into a transitional colour during the minor congestion periods. The trend monitor sister indicator, the trend dots, completes the picture and highlights these congestion phases in advance. Volumes throughout the move were in agreement and confirming the bullish sentiment for...
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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...
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