I get asked a lot about my Currency Strength Meter and some of the best ways to use it. I made a short video (26 minutes) covering the 7 ways that I use my meter and I hope it will spark a new idea in your trading or point you to a new direction as you use my Strength Meter later on tonight.
I’d like to encourage you to leave a comment on my blog and share some other ways that you are currently using my meter, I’ll review your comments and incorporate them in my next Strength Meter usage video.
This is a preview of 7 Best ways to profit from Currency Strength Meter. Read More...
… Taken from my Weekly Outlook Report February 22~26, 2010… After this analysis we saw perfect SELL entries on both EUR/USD close to 1.3700 and GBP/USD 1.5580 area… If you had a chance to read this report before the drop, you’d have been on the right side of the market.
Written on 02/21/2010 just before the risk aversion sentiment on Monday/Tuesday
Last week’s most notable news was probably the surprise rate hike by the Federal Reserve on its discount rate, from 0.50% to 0.75%, which raises the costs of borrowing from banks to other banks. This is not to be confused with the Federal Funds rate, which still remains at the current level of 0.25%.
This is a preview of Forex Market Analysis for the week of 02/22/2010. Read More...
Bank of England is going to release its quarterly Inflation report on economic growth and projection for the next 24 months. This report will be release together with a press conference by BOE Governor King along with other members of the MPC.
This quarterly Inflation report usually details BOE’s view over the current economic condition and future monetary policy. With the recent hawkish rhetoric from various BOE officials over the state of UK economy and a rather disappointing prelim GDP release of just 0.1% on the 4th quarter of 2009, there is a possibility for this report to go either way. Therefore, we’ll be watching this report and react should the market sentiment lean towards either buy or sell Sterling.
This is a preview of BOE Inflation Report 02/10/10. Read More...
FOMC will be releasing its meeting minutes from the last interest rate decision in 2009. If you recall, the last FOMC meeting were somewhat neutral and disappointing as traders were looking for a more bullish tone from the statement. One of the important phrases that traders were looking for was “…keeping rates low… Extended period.”, which if the Feds were to eliminate the “extended period.” part, it would signal a change in the overall monetary policy… However, FOMC decided to keep the phrase and most of the FOMC Statement remain unchanged from the previous release… Here is the complete context:
This is a preview of US FOMC Meeting Minutes 01/06/10. Read More...
Looking at the current market condition, I am seeing most traders along with their liquidities returning this week, which may provide some excellent market conditions as we kick off our own trading this week.
The last two weeks of 2009 was very quiet in the sense of scheduled news and unexpected news as most traders took some time off in celebration of yearend holidays. We saw USD maintaining its gains since the last rally, as the market has been at more or less a standstill… Equity market maintained its gains until the last trading day of 2009, and Crude Oil reclaimed the $80 mark once again.
This is a preview of FOREX – Market Outlook for 2010 – Forex Fundamental Analysis. Read More...
Last week’s major news was the Nonfarm Payroll report on Friday which possibly changed the short to long term trend of USD as we saw traders bought USD on the back of NFP release:
NFP Nov. 2009 -11K versus -119K (estimate)
NFP Oct. 2009 -111K (revision) versus -190K release
Unemploy Rate 11/2009 10.0% versus 10.2% (estimate)
What was more interesting with this data was the 3-month average trend of NFP with past revisions actually netted a positive +97K of release!
This is a preview of FOREX – NFP Nonfarm Payroll (12/04/09) and Market Analysis. Read More...
Last week was indeed a volatile week due to the low liquidity. And as I have warned in my last Weekly Outlook report about the excessive market movement from my previous experiences over the U.S. Thanksgiving holidays, this Thanksgiving didn’t disappoint and certainly lived up to its reputation – and then some…
As a week that started with some mild risk appetite sentiment, but then the market started to take hints from FOMC Minutes on the Federal Reserve’s bearish tone over a continuing decline in the Dollar and unemployment rate, which echoed Fed. Fisher’s comments just a week ago, we saw USD getting sold off broadly against all majors, including the JPY…
This is a preview of Forex News and Market Trend Wrap-up – Thanksgiving Week, Dubai World, UAE Support, JPY Strength…. Read More...
2:00pm (NY Time) US FOMC Meeting Minutes
ACTION: N/A
FOMC Meeting minutes is usually scheduled to be released 3 weeks after the Fed Fund Rate decision. Below is the entire statement released on Nov. 4, 2009, I’ve taken the liberty of marking some positive and negative comments:
This is a preview of US FOMC Meeting Minutes 11/24/09. Read More...
As we know this news release is equivalent to US Nonfarm Payroll changes but for Australia, and it is a high impact report as the job’s market have a direct influence over the health of the economy, which affects inflation, and inflation will affect future RBA monetary policy. If the actual release is better, it would be good for AUD and we would be looking to BUY AUD/USD, if the actual release is worse, it would be bad for AUD and we should be looking to SELL AUD/USD.
This is a preview of Australia Employment Changes 11/11/09. Read More...
5:30am NY Time UK BOE Inflation Report
ACTION: N/A
Bank of England (BOE) will release its inflation report for the quarter, this report will contain BOE’s inflation target for the next two years, along with reasons of recent decisions in BOE’s monetary policy. This report, as defined by BOE itself:
“…It serves two purposes. First, its preparation provides a comprehensive and forward-looking framework for discussion among MPC members as an aid to our decision making. Second, its publication allows us to share our thinking and explain the reasons for our decisions to those whom they affect.”
This is a preview of BOE Inflation Report 11/11/09. Read More...
If you’ve got a few minutes, I’ve recorded a new video on “My
Blueprint to Forex Success” just for you…
But I must warn you, it’s not about how to pick winning trades or
any of that exciting stuff…
…and as a matter of fact, this video could be considered a little
boring by some… But it deals with the cold hard logic of a
successful Forex career, and it’s something that you can’t do without if you EVER want to be successful in this business…
Sometimes your timing may be off, and your entry not so great, but
if you picked the “right” currency pair to trade, you’ll still end
up making pips…
You may ask: “Henry, how do I know which pair is the ‘right’ pair?”,
and the answer is, my friend, quite simple: Newsprofiteer Meter.
If you’ve watched any of my live videos, you are no stranger to my
Strength Meter. I’ve improved on the original idea of the Excel
based spreadsheet to a self-contained little widget that does
exactly the SAME thing, but without the setup headaches, security
nightmares, and of course it’s easy to get started…
This is a preview of Grab your FREE Strength Meter and add 30 pips to your next trade…. Read More...
I just posted a video for you on a special trick in Forex News
Trading that made me tons of money during the spike trading days,
although you can’t really spike trade anymore, this trick still
works great for news trading and just normal Forex trading…
Today I’m launching my Mastermind Mentoring Program, and to celebrate, I’m sending you my news trading trigger report along with a special video on how to trade economic news taking advantage of this report…
It’s my way of saying thanks to you for your ongoing support in reading my daily newsletter…
This report literally took 3 years of trading combining with meticulous record keeping, and finally putting everything together in this one page report. It’s what I’ve been using to trade the news, and I’m sure you’ll find it invaluable to your trading, even if you don’t trade economic news releases… You’ll get my private list of ALL tradable news releases, their tradable deviations, and their expected movement ranges in pips after news… like I said, it’s invaluable.
This is a preview of Forex News Trading Report and How-to Video FREE! (What news to trade, what deviation, etc…). Read More...
I just wanted to say that with today’s unexpected turn of events from the U.S. GDP release, market has turned around from last 3 days of risk aversion concerns to an all out risk appetite and boosted gains of every major currency against the USD… This created a strong reversal on the GBP as it blew through several resistance points… and boy, did I ever hear about it from my subscribers! I spent almost half-day just replying emails to traders who just totally ignored the US GDP release and went short on Sterling. I got hate mails, critiques, and tons of emails from concerned subscribers, which I must say that I’m always happy to hear from…
This is a preview of Open letter concerning Sterling’s Reversal – (copied from my newsletter). Read More...
Ok guys, I know you are wondering… and I apologize as I have been working day and night for the past 2 weeks trying to launch a new version of newsprofiteer.com, and of course, my new mentoring system…
I don’t want to get too much into it, because it is sort of a surprise… but I promise, you’ll definitely like it… So bear with me just a few more days, as the official launch date is next week…
Of course, I’ve been trading and still recording my trades live, and they will be posted in due time…
This is a preview of Henry, where are the Videos?. Read More...
BOC releases a quarterly Monetary Policy Report providing direction over its monetary policy and future interest rate decisions. This report is probably not tradable unless BOC surprises the market by deviating from its recent statement during the interest rate decision just a week ago.
However, in the event BOC offers new insight into their future monetary policy and points to the possibility of hiking interest rate sooner than June of 2010, then we could see some buying of the CAD; if BOC Report maintain the same rhetoric as before, then not much market reaction could be expect… as a matter of fact, we might even see CAD getting weaker against the USD.
This is a preview of Canada BOC Monetary Policy Report 10/22/09. Read More...
RBA(Reserve Bank of Australia) is expected to release its Meeting Minutes for the rate decision 2 weeks ago; and if you remember, it was a surprise to the currency market as a whole as RBA hiked it’s Cash Rate by 25 basis points, from 3.00% to 3.25%. As with most analysts, I didn’t expect RBA to hike rates until 2010, and I was genuinely surprised by this decision, and of course, market responded with a frenzied demand for AUD and pushed AUD/USD pair to new 2009 highs.
This is a preview of Australia Monetary Policy Meeting Minutes 10/19/09. Read More...
2:00pm (NY Time) US FOMC Meeting Minutes
ACTION: N/A
FOMC Meeting minutes is released 3 weeks after the Fed Fund Rate decision, and we get 8 rate decisions out of the year from Federal Reserve, therefore also about 8 of these minutes releases.
This is a preview of US FOMC Meeting Minutes 10/14/09. Read More...
Last week was a surprising week to say the least, as the biggest news out of the entire currency market was the Reserve Bank of Australia (RBA) hiking its bank rate by 0.25% to 3.25% and surprised the entire world in the process…
Needless to say, immediately after the release, Equity market ended its downward correction, and a renewed sense of risk appetite took over, pushing all high-yield currencies, commodity currencies, Equity indices, to fresh new 2009 highs.
This is a preview of Market Economic Outlook as of 10/12/09. Read More...
Tomorrow starts the 2-day G20 meeting in Pittsburgh as the group of 20 nations meet and discuss a wide range of issues, including the current market inbalances, exit plans over the economic recovery, protectionism, and of course the situation with the IMF.
Obviously high on the agenda will be the issues of limiting executive compensation in the financial sector and possibly a move to increase reserve capital of banks in order to lower investment leverage that was responsible for the crisis in the first place.
This is a preview of G20 Meeting September 24~25, 2009. Read More...
Market has been very unforgiving to the USD lately as the greenback slips into further weakness; as a matter of fact, the more recovery we see, more reason for USD to weaken, at least until Bernanke starts rate hiking cycle…
Let me explain,
This is a preview of Where is US Dollar going?. Read More...
I have compiled a list based on their respective economic outlook from recent economic indicators and news releases. USD is excluded it is considered more as a safe-haven and the “new carry” currency… U.S. economic outlook might not have much influence on the direction of USD, and as a matter of fact we might see a scenario of USD vs ALL Majors in the near term.
As far as USD being the “new carry” currency, just check the 3-month LIBOR rate, you’ll see that USD is at 0.29%, GBP at 0.57%, EUR at 0.72%, and JPY at 0.35%. With USD being the lowest cost currency to borrow from, it makes sense to see further decline of USD, and it will remain so until the actual overnight rate starts to rise.
This is a preview of Global Fundamental Outlook Score Card As of 09/21/09. Read More...
If you are looking for information on economic news and currency market [FOREX], look no further, because you’ve found it! You’ll not only find money-making trade plans and analysis on upcoming economic news, but also videos from actual trades taken live during these news releases based on the same trade plans, all for free!
If you are a beginner or never traded news releases, then please take a moment and read my post on the basics of forex news trading, you’ll get the basic idea of what are these economic news releases…
And of course, once you’re done with that, make sure you also read my post on the logics and the How-To of Forex News Trading, as I try to explain Forex Fundamental News Trading in a nutshell.
This is a preview of New to FOREX News Trading or this blog? Start Here!. Read More...
Another seemingly quiet week has gone by but the market has not failed to surprise us yet again… The biggest news last week was not the rate decisions nor the lack of high-impact trend changing news releases, but the apparent endless strength of the Japanese Yen under the new ruling party, which managed to push the USD/JPY close to the 90.00 handle, approaching that yearly low level of 87.00…
And it is not a surprise to see that USD also suffered some heavy losses last week with every major currency breaking to new levels against it. U.S. Dollar Index dropped to 76.45 for the week, making new lows for the year once again…
This is a preview of Weekly Outlook as of September 13, 2009 (09/13/09). Read More...
Last week’s major news was the FOMC rate decision and the accompanied statement, while no one expected any changes in the current Interest rate, most were expecting some kind of optimistic follow-up from the Fed on back of that better than expected NFP releases last Friday. However, we got the usual rhetoric with a possible extension of the treasury purchases to the end of October instead of the previous end of September announcement.
Although it could hardly be called “extension” to the purchase program as the final amount remains unchanged, but the fact that there is no urgency to complete this stimulus program in September may provide argument for both bears and bulls.
This is a preview of Fundamental News Wrap-up for the week of August 10~14, 2009. Read More...
Currency Market Fundamental Outlook August 10, 2009
The main event last week was undoubtedly the Nonfarm Payroll changes, which not only went against the ADP release on Wednesday, but it was a landslide surprise that changed the predominant USD trend yet again.
If you remember the effect on the NFP report back in June and the market reaction in the subsequent week that follows, you’d see a likely pattern emerging, and that pattern is clearly going to be USD strength.
This is a preview of Forex Fundamental Economic Outlook 08/10/09. Read More...
Every time before I get into a trade, I would analyze the market using my own mental checklist, and #1 item on that list is just a simple question:
REAL REASON FOR THIS TRADE?
Far too many times Forex trader get into the market without the right reason, or for that matter, without a right enough reason. Usually the emotional factor is driving the trade, such as greed or fear of missing out on a potential profitable trade… And I have to confess to this as well, as I remember the days when I used to spend 16 hours a day doing over 24 to 40 trades a day, and when you narrow down all of the BS and technical mambo jumbos, the only reason that compelled me to take those trades was, I wanted to make more money…
This is a preview of Currency Trading Tips #2: Pick your battles!. Read More...
Last week turned out to be another week of risk appetite driven week… Seems like everyone and their cousins are ready to get back in the market and start to “make money” while bunch of so-called analysts are popping up everywhere saying that “recovery will take full force” and “there are more room for this upside move”; if you watched any of these financial channels over the weekend, undoubtedly you should be convinced of what a great opportunity it is… so what are you waiting for?
This is a preview of Currency Trading Tips # 1: Don’t bet the farm… (The Grandma Indicator). Read More...
Hey it's Henry, don't forget to take a moment and read my
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