Daily FX Profit Signal July 1st, 2009

We hit our first profit target in our long GBPUSD trade so we have taken half our position off here. We are trailing the remaining half position. Our EURUSD setup was negated today so it is no longer a M pivot setup. We are in USDCAD today so we are just waiting on our breakeven price to be hit. Watch the video below as I talk about the management of all of our current trades and potential trades:

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Free Daily Forex Video July 1, 2009

Here is your free trading video for 1st July 2009:

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How Do You Actually Take A Trade?

Question: How do you actually take a trade and how do you “take some profit out of a trade at target prices”?

Answer: Watch the video answer below:

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Trading On Smaller Time Frames

Question: Can I use any of your methods to trade the smaller time frames?

Answer: Watch the video answer below:

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Weekly Forex Wrap

June 26, 2009

It was a dour week for the US dollar as most of the majors outperformed the greenback on the perception that risk aversion is waning and investors are seeking higher yielding assets in the form of US equities and overseas assets. It may take a little bit for the US stocks to see benefits of a falling dollar as all three major indexes did nothing noteworthy on the week. The Dow Jones Industrial Average fell 1.2% on the week and S&P 500 was down fractionally while the Nasdaq rose 0.6%. The Dow is now down 3.9% on the year.

JP Morgan is forecasting a decline in the dollar on the basis that second-quarter earnings for US companies will surprise to the upside, providing investors with the impetus they need to scurry into riskier asset classes and out of the safe-haven greenback. JP Morgan recommended shorting the dollar against its Canadian counterpart, which is odd considering the loonie posted its fourth consecutive weekly decline against its southern neighbor. Perhaps the bank is foreseeing a rise in crude oil prices to bolster the loonie going forward.

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Daily FX Profit Signal June 30, 2009

Our NZDUSD trade triggered today and is in profit. We are close to our GBPUSD target, and we are waiting on our USDCAD and EURUSD trades to trigger. Watch the video below as I talk about the management of all of our current trades and potential trades:

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Free Daily Forex Video June 30, 2009

Here is your free trading video for 30th June 2009:

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Daily FX Profit Signal June 29, 2009

Our NZD/USD trade did not trigger on Friday, but it is still in play for tomorrow so keep your orders in for this incase it triggers. We have potential trades in AUDUSD, USDCAD and EURUSD so make sure your orders are ready for them incase they trigger tomorrow. We are near a major resitance line in GBPUSD but the good news is we will be taking some profit off the table before this major resistance has been hit. Watch the video below as I talk about the management of all of our current trades and potential trades:

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Free Daily Forex Video June 29, 2009

Here is your free trading video for 29th June 2009:

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Economic Calendar June 29th - July 3rd

Interest Rate Decisions
Interest rates decisions news flashes provide guidelines for the overnight lending rate which are bound to have an effect on businesses and consumers alike. An upward surge in the cost of living - inflation and a runaway economy is slowed by hiking the interest rates. Lowering interest rates rejuvenates an economy from the doldrums by enabling consumers to get easy credit thus increasing consumption. Currencies strengthen when interest rates move north and weaken when the rates move southwards.
Change in Employment
Change in employment index compares the employment to the unemployment rates in a certain economy. The index which is calculated by economist is used to predict future spending and consumption pertains which are likely to occur due to change of one of the parameters. An economy can either grow or contract depending on which of the two parameters changes.
Consumer Price Index (CPI)
CPI is one of the most reliable parameters used to gauge the extent of inflation on the economy. Every household spends money on some basic commodities and utilities, these items are collectively referred to as “the consumer basket”. By monitoring the changes in price of the consumer basket, economists are able to predict the interest trends. This is largely due to the fact that central bank will more often than not act to tame inflation by raising interest rates and vice versa. The adjustments of interest rates to keep consumer basket within the majorities reach will affect the underlying currency either strengthening or weakening it.
Retail Sales
Retails sales are good pointers of the state of the economy. When the economy is strong and growing, retails sales escalate and consumer are more willing to spend money on luxury goods. Conversely, a shrinking economy is characterized by a reduction in retail sales and cautious spending by consumers.
Trade Balance
This is simply the difference between total exports and total exports between two or more trading nations. Multinational trade involves the export and import of goods and services between nations. When one country exports more than it imports the net effect is a trade surplus. The reverse of this is known as trade deficit. Great emphasis is placed on Trade Balance Report as it shows the movement of goods and services between nations. Countries with trade surplus usually have stronger economies as there have more money in than what there are spending.
Gross Domestic Product - GDP
GDP is derived at by measuring the consumers’ ability to consume / afford goods and services produced within their economy. A strong GDP is a sign of a robust economy which should be checked for inflation - rising interest rates - while a weak GDP could be interpreted to indicate a recession meaning interest rates are likely to head south.
ISM Manufacturing Survey
This survey gauges the mood and sentiments of companies’ top brass, decision and policy makers towards inflation. The centerpiece of this survey is their take on business outlook - new business, production capacities, backlogs, inventory levels and manpower issues. A 50 points scale is used to interpret the findings with value 50 indicating expansion, while values below 50 are a sign of recession.

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