7 Best ways to profit from Currency Strength Meter

Posted by Henry Liu on March 10, 2010 under Currency Trading Tips, Forex News Trade, General | Be the First to Comment

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.

http://www.newsprofiteer.com/currency-strength-meter-best-usage.html

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.

Australian Retail Sales m/m 01/06/10

Posted by Henry Liu on January 5, 2010 under AUD Retail Sales, Australia, Forex News Trade, General | 19 Comments to Read

7:30pm NY Time AU Retail Sales  Forecast 0.4%   Previous 0.3%
ACTION:         BUY 1.0%      SELL -0.2%      AUD/USD

We will be to look for a deviation of 0.6% from the forecast release of 0.4% and we will focus on the Retail Sales release instead of the Trade Balance, but of course we will only trade if there is no conflict between both releases, or it is probably best to sit out as the market may be extremely difficult to read. If we get a 1.0% or -02%, we’d get in either on a LONG or SHORT trade depending on the release with a high probability of seeing the market move over 50 pips in the next 2 hours.

Forex News and Market Trend Wrap-up – Thanksgiving Week, Dubai World, UAE Support, JPY Strength…

Posted by Henry Liu on November 30, 2009 under Currency Trading Tips, General | 5 Comments to Read

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…

US FOMC Meeting Minutes 11/24/09

Posted by Henry Liu on November 23, 2009 under Currency Trading Tips, General | Be the First to Comment

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:

Where is Cable going next? A closer look at GBP/USD and GBP/JPY

Posted by Henry Liu on October 26, 2009 under General | 15 Comments to Read

Hello Everyone:

For those who are in my Weekly Outlook Report, you must be happy by now, because my calls on SELL GBP must have made you good money today; but for those who are not on my Weekly Outlook Membership (paid service), here is what I wrote on Sunday for the Sterling:

“Last week’s main event was no other than the surprise release of UK’s 3^rd quarter Prelim GDP, which came out negative at -0.4% versus a wide expectation of a positive number in the range of 0.1%~0.5%.  This release, which was not expected by all 30+ analysts Bloomberg surveyed, turned the sentiment for Sterling around immediately as GBP/USD dropped immediately over 100 pips in matters of seconds, and ended the trading day ay close to 400 pips of loss.

US FOMC Meeting Minutes 10/14/09

Posted by Henry Liu on October 13, 2009 under Currency Trading Tips, General | 6 Comments to Read

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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.

Fear and Greed – Henry went to the dentist – 9/29/09

Posted by Henry Liu on September 29, 2009 under General | 4 Comments to Read

One of my worst fears is probably going to the dentist, and today marks the day that I, Henry Liu, resisted the urge to break down and cry like little school girls as many grown men have done before me, and announce that I am now 2 wisdom teeth less, and 2 more to go. (That’s me after my Dentist Appointment…)

Simple things such as going to the dentist could have a huge impact in a trader’s life, as I rate this event ”catastrophic” impact level, equivalent to about 10 Nonfarm Payroll events combined, because if you are trading with stress, pain, or any kind of anxiety, you could be risking an account blowout.

Weekly Outlook as of September 13, 2009 (09/13/09)

Posted by Henry Liu on September 13, 2009 under Currency Trading Tips, General | Be the First to Comment

Hello everyone:

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…

US FOMC Meeting Minutes 09/02/09

Posted by Henry Liu on September 1, 2009 under Forex News Trade, General, USA | Be the First to Comment

2:00pm (NY Time) US FOMC Meeting Minutes
ACTION: N/A

We saw some optimism in the market from last FOMC rate decision as the accompanied statement clearly indicated some improvement and stabilization in the economy. Therefore, with the reminder of this FOMC Meeting Minutes, market could once again return to that state of optimism and some limited risk appetite sentiment may present itself.

Hello Alaska!!! Vacation Schedule – 8/21/09 ~ 8/30/09

Posted by Henry Liu on August 19, 2009 under General | 2 Comments to Read

My Dear Blog Followers!!!

Finally it is time for me to take on that end of summer trip I’ve been waiting for, and this time my destination is a 7-day cruise to Alaska!!!  I will be gone for about 10 days, and hopefully I’ll be back trading Forex on Sunday 8/30/09…

It is obviously a much needed vacation as I have been working hard trading, running preparations for my upcoming Forex trade room, recording tons of videos, and finishing my DVD, the Henry Liu’s Forex System…  Finally I get to take some time off, and if God willing, I will be back fully charged for another 3 months of intensive trading until December, where I will close this year early…

US PPI m/m 08/18/09

Posted by Henry Liu on August 17, 2009 under Forex News Trade, General, USA | 3 Comments to Read

8:30am (NY Time) US PPI m/m  Forecast -0.2%   Previous 1.8%
ACTION: USD/JPY      BUY 2.0%    SELL -2.0%

Producer Price Index or PPI, measures the cost for goods and services (raw materials) that producers or manufacturers pay; it is a leading indicator because if these raw material costs more to the manufacturers, the overall prices on the finished products might increase as these higher costs are usually passed down.

In extreme cases, PPI may affect the CPI release.  However, since this data has been pretty much ignored by traders for quite a while, I don’t have much expectation for a trade, but just in case market reacts to a huge deviation, if we get that deviation, I’ll jump in the market with hopes to make some pips, so stand by while I record this trade live.

Henry Liu Forex System DVD Contest

Posted by Henry Liu on August 13, 2009 under General | 27 Comments to Read

Hello everyone:

Here is an email that I sent out yesteday on my pre-release DVD contest.  However, I am extending the deadline to the 19th of August, 2009 so there is plenty of time for everyone to participate.  Not only you will enter to win a copy of my upcoming DVD, but I will also send you to my special trading trick link, which is invaluable for people who don’t know it yet… and of course, you’d be helping me out tremendously.  So please take a few minutes, you know I appreciate it:)

Subject: I need your help

Hello:

UK BOE Inflation Report 08/12/09

Posted by Henry Liu on August 11, 2009 under General, Great Britain | 4 Comments to Read

5:30am (NY Time) BOE Inflation Report   N/A
ACTION: GBP/USD or GBP/JPY      BUY Hawkish     SELL Dovish

This is a quarterly report from BOE on projections of inflation and the economy for the next 2 years.  It is a very high impact report and it could affect the short-term to mid-term trend of Sterling.

If BOE is optimistic in its projection and focus on recovery, we should see immediately appreciation of GBP; if the opposite is true, then Sterling will probably drop substantially.  We’ll look at market reaction then wait for entry.

US ADP Non-Farm Employment Change 08/05/09

Posted by Henry Liu on August 4, 2009 under Forex News Trade, General, US ADP NFP Changes, USA | Be the First to Comment

8:15am (NY Time) US ADP NFP Changes    Forecast -351K     Previous -473K
ACTION: USD/JPY           BUY -280K      SELL -420K

ADP is one of the largest payroll processing providers in the world, and every month it releases its version of Non-Farm Payroll numbers 2 days prior to the official Non-Farm Payroll release.  This release is about 80% accurate to NFP.  But the 20% of the time when it was inaccurate, its figures were totally off.  This is a good news item to watch out for  directional trade, if the numbers comes out at least 70K more or less of the Forecast -351K, then we will look to take a trade with the best looking currency pair.

UK Services PMI m/m 08/05/09

Posted by Henry Liu on under Forex News Trade, General, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time) UK Services PMI      Forecast 51.9     Previous 51.6
ACTION: GBP/USD                 BUY 54.00     SELL 49.5

We will watch this report closely as Sterling is at verge of breakout.  Therefore it is for the best start trading this release, this week.

If the number comes out worse than the expected 51.9, we’ll SELL GBP/USD; if the number comes out better, then we’ll BUY GBP/USD.  However I’m leaning more to go long on Sterling than short.

Definition:

Australia Retail Sales m/m 08/03/09

Posted by Henry Liu on August 2, 2009 under AUD Retail Sales, Australia, Forex News Trade, General | 4 Comments to Read

9:30pm (NY Time) AU Retail Sales m/m    Forecast 0.5%    Previous 1.0%
ACTION: AUD/USD                                                    BUY 1.1%                 SELL -0.1%

If we get better numbers for the Retail Sales, which is forecasted at 0.5%, it would be good for the AUD/USD and provide temporary support, we would BUY AUD/USD.  If we get worse numbers, somewhere in the -0.1% or worse, we will SELL AUD/USD.

DEFINITION

Canada GDP m/m 07/31/09

Posted by Henry Liu on July 30, 2009 under CAD GDP m/m, Canada, Forex News Trade, General | Read the First Comment

8:30am CA GDP m/m     Forecast -0.4%    Previous -0.1%
ACTION: USD/CAD          SELL 0.1%               BUY -0.7%

Our focus will be on CA GDP, which is defined (from wikipedia) as “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” GDP number has a direct effect on the Interest rate of the currency, it is one of the news indicators that affects BOC’s decision directly.

US Durable Goods Orders m/m 07/29/09

Posted by Henry Liu on July 28, 2009 under Forex News Trade, General, USA | 3 Comments to Read

8:30am (NY Time) US Durable Goods Orders    Forecast 0.1%     Previous 1.1%
ACTION: USD/JPY                                                   BUY 1.9%              SELL -1.7%

Durable Goods calculates purchase orders of goods that have a life-expectancy of 3 years or more, instead of goods that are being used up all at once. Examples of durable goods are cars, appliances, business equipments, etc…  Core Durable goods is a derivative of Durable goods that excludes Transportation element, which is a better indication of the nation’s economic status, since transportation elements fluctuate from months to months.  Forex traders watch this report closely because a strong number shows a healthy outcome for the economy.

Currency Trading Tips # 1: Don’t bet the farm… (The Grandma Indicator)

Posted by Henry Liu on July 27, 2009 under Currency Trading Tips, General | 3 Comments to Read

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?

US Existing Home Sales m/m 07/23/09

Posted by Henry Liu on July 22, 2009 under General, US Existing Home Sales, USA | Read the First Comment

10:00am (NY Time) US Existing Home Sales        Forecast 4.82M     Previous 4.77M
ACTION: USD/JPY, USD/CHF                                           BUY 5.22M                SELL 4.42M

Existing Home Sales is expected at 4.82M, if the number is lower, it would be bad for the USD; if the number is higher, then it would be good for USD.

Definition:

Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation’s currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it’s the month’s first demand-side housing indicator to be released.