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Forex Alert System JPY Strength 3-10-2015
Today in forex trading the The Forex Heatmap® visual alert system showed that the JPY (Japanese Yen) strength was evident on all pairs. The EUR (Euro) and CHF (Swiss Franc) were also weak. This drove the EUR/JPY and CHF/JPY lower. The EUR/JPY is in a strong down trend and should continue lower. The CHF/JPY is still trending down on the D1 time frame and we would scale out lots on this sell trade as the ultimate support target is not known.
The alert system you see below is The Forex Heatmap®, it provides real time visual alerts and trading signals for seven major currency pairs, and 28 pairs total.
Forex Alert System JPY Strength 3-10-2015
US Dollar USD News, Impact on Currency Traders
In this article we will examine the various US Dollar USD news drivers, and how these economic news announcements impact currency traders on a day to day basis. We will also discuss several techniques for profitably trading these US Dollar news drivers.
There are various economic news events that drive movement on the US Dollar against other currencies. Currency traders watch these news drivers, looking for opportunities to buy or sell the major currency pairs for short term profits, swing trades, or longer term trend trading. See the example below of the world economic news calendar showing some scheduled US Dollar news releases. Some examples of the US Dollar news drivers include Purchasing Managers Index, Unemployment Claims, Crude Oil Supplies, Non Farm Payrolls, and many others.
US Dollar News
Volatility and price movement in the forex market can be expected after most of the scheduled US Dollar news announcements. Some US Dollar news announcements like the Federal Funds Rate, Non Farm payrolls or the FOMC Statement can provide substantial volatility and price movement. Volatile US Dollar news announcements occur between 25 and 30 times per month, not to mention all of the volatile news announcements from the other seven currencies we trade. There are plenty of times throughout the month when traders should be watching the market around these US Dollar news announcements. The top 7 major currency pairs that can be traded that are influenced by US Dollar news include the USD/JPY, AUD/USD, NZD/USD, USD/CAD, EUR/USD, USD/CHF, and GBP/USD.
Example US Dollar News Announcement:
On Friday March 6, 2015, the non farm payrolls US Dollar news was announced, like it always is on the first Friday of every month. Non farm payrolls is a monthly statistic researched, recorded and reported by the U.S. Bureau of Labor Statistics. Total non farm payrolls rose by 295,000 jobs for the prior month in February, shattering expectations for 235,000, resulting in the US Dollar strengthening. The employment situation report indicated that the February unemployment rate had fallen to 5.5%, down from January’s 5.7%.
How The US Dollar News Impacted Traders
After the non farm payrolls news driver the US Dollar (USD) strengthened on all pairs. Traders could have profited from the price movements that happened after the non farm payrolls news drivers, if they have access to real time professional tools. Check out the live indicator below, this is called The Forex Heatmap® forex heatmap. The heatmap can tell you in real time what pair to trade, and in which direction. It works for 28 pairs, including all 7 of the US Dollar pairs. After the NFP news the heatmap indicated USD strength in real time. The arrow system pointed traders to the USD/CHF for a buy and the NZD/USD for a sell.
US Dollar USD News
The readings on the heatmap tell you how far these pairs moved. A 1.6% movement on the NZD/USD is about 115 pips of movement, and a 1.12% movement on the USD/CHF is about 110 pips. The entire group of USD pairs moved hundreds of pips total.
From the standpoint of the trends of the market, the NZD/USD drop was in the direction of the long term downtrend on this pair. This pair should continue down to the 0.7225 support level and likely continue lower. So any sell trade on this pair would have resulted in an intraday profit, but also ongoing pip potential in the direction of the trend. Traders can use the heatmap to make informed buy or sell decisions on a day to day basis for trades in the direction of the trend, or possibly short term trades (day trades) against the trend. We have a great article that discusses trading non farm payroll NFP in more detail for further reading on this subject.
All US Dollar news events on the world economic news calendar are of great importance to traders. The same thing goes for news events from all of the currencies we trade. Making pips is possible from any of these economic news announcements with our trading tools and live indicators. If the US Dollar has a series of economic news showing that the economy is strong in the USA, and inflation is heating up, the US Dollar could start to strengthen against other currencies as the Federal Reserve starts to raise interest rates. Then, long term trends could form on pairs like the USD/CHF and USD/JPY. As trend followers we find this information to be vital.
Unscheduled US Dollar News
The economic news calendar shown above will give traders access to scheduled US Dollar news drivers, along with news drivers from all 8 currencies that we trade. Sometimes world political events, natural disasters, government of central bank actions, etc., can cause strong movement in the currency markets. We recommend using audible forex price alerts to supplement the scheduled news drivers for better monitoring of the 28 pairs we follow. Finding strong movements and breakouts gets easier with multiple alert systems.
Conclusions – Currency traders like the US Dollar and the major pairs for trading, knowing how strong the dollar is in real time, is extremely valuable to them. Live indicators like the heatmap are strongly favored by traders for increasing trading accuracy on the US Dollar pairs. If traders would analyze all 7 major US Dollar pairs daily, they could easily determine if the US Dollar is strong or weak with simple trend indicators. This would lead traders to being able to perform a daily US Dollar forecast. We analyze the US Dollar daily at Forexearlywarning, along with 7 other currencies. We also prepare a forecast for the US Dollar every day.
Forex Trading Chart Analysis CAD/JPY
This is an analysis of the CAD/JPY trading chart you see below on the D1 time frame. The CAD/JPY sold off and then formed a consolidation cluster. It is now reversing back up on the D1 time frame, so a great trend is developing here with 700 pips of upside potential. See yellow lines and price scale on the right side of the chart.
This pair is now trending higher. The current resistance level is about 96.50, and traders should set an audible price alert here. Above this price look for a buy signal on The Forex Heatmap® to confirm the buy. The trading charts you see are our free forex trend indicators which are exponential moving averages that we use at Forexearlywarning. Traders can set up the indicators across 8 currencies and 28 pairs, and they are free for anyone to set up and use.
Forex Trading Chart Analysis CAD/JPY
Currency Strength Indicator EUR Weakness 3-4-2015
Today in currency trading the EUR (Euro) weakness was evident on all pairs. All of the EUR pairs dropped. There was also some NZD (New Zealand Dollar) and CAD (Canadian Dollar) strength in the market as well. This caused the EUR/CAD and EUR/NZD pairs to drop strong to the downside. The EUR/NZD should continue lower in the current strong downtrend, there is no historical support below the current price. The EUR/CAD has broken one support level and could continue much lower on the higher time frames. The live currency strength indicator you see below is The Forex Heatmap®, which provides live buy and sell signals for 28 pairs, including seven EUR pairs.
Currency Strength Indicator EUR Weakness 3-4-2015
Forex Major Pairs EUR/USD Sell Signal 2-26-2015
Today in forex trading the major pairs (USD pairs) like the EUR/USD had strong movements. The USD was strong on most pairs and the EUR (Euro) was weak on all pairs. The EUR/USD pair had a sell signal on The Forex Heatmap®. This signal is shown below. This pair dropped to the downside along with several other EUR pairs. The EUR/USD is trending down on the higher time frames. We only see one more support level around 1.1150, then below there is has considerably more downside. We will look to continue to plan sells on this pair in our daily forex trading plans going forward. Our trend based trading plans and live signals work on seven major pairs and 21 exotic pairs.
Forex Major Pairs EUR/USD Sell Signal 2-26-2015
Forex Trends USD/CAD 2-25-2015
The USD/CAD is not trending but it is oscillating and ranging on the smaller time frames, see the H1 time frame below. Above the current prices it has around 200 pips of potential to cycle back up to the 1.2625 area, noted by the yellow line. Traders can look for a buys signal on this pair in the main session using The Forex Heatmap®, or after the USD or CAD news drivers, which are both on the news calendar for tomorrow. The trend indicators you see below are exponential moving averages which are easy to set up on most charting platforms.
Forex Trends USD/CAD 2-25-2015
Currency Trading Signals CHF Strength 2-20-2015
Today in currency trading the Swiss Franc (CHF) signaled strength on all pairs. There was also some GBP and CAD weakness in the market. This drove the CAD/CHF and GBP/CHF strongly downward for currency traders. We would scale out lots and manage any profit on both pairs as the larger trends are not fully established on the CHF pairs at this time. The trading signals you see below are from The Forex Heatmap®, which gives live buy and sell signals across all seven major pairs we follow and a total of 28 currency pairs.
Currency Trading Signals CHF Strength 2-20-2015
Forex Trading Signals GBP Strength 2-18-2015
Today in forex trading the GBP (British Pound) strength was signaled on The Forex Heatmap®. This caused price strong movement on this group of pairs. The GBP/CHF broke to the upside and has no resistance past the current pricing, it is trending higher. The EUR/GBP broke support and should continue lower in it’s downtrend. The GBP/AUD moved strong to the upside but is still inside of some resistance layers so we would scale out lots on this buy trade. The live trading signals you see below for the GBP pairs is The Forex Heatmap®, it also provides signals for seven other currency groups.
Forex Trading Signals GBP Strength 2-18-2015
Live Forex Signals USD Weakness
Today in forex trading The Forex Heatmap® signaled USD (US Dollar) weakness on all pairs. This drove strong price movement for traders. The GBP/USD moved up and broke one resistance level, this pair has much more upside potential and should continue higher on the W1 and MN time frames. The EUR/USD also broke out into the trends on the higher time frames and has much more upside potential. Total pip movements for all of the USD pairs was impressive and in the hundreds of pips.
We send push alerts to your cell phone to notify you when the market is moving across 8 currencies and 28 pairs. The heatmap provides live trading signals for 28 pairs, including the USD and a total of 8 currencies. Our excellent multichart system provides a much better view of the market momentum and you can navigate to each group of charts (USD. JPY, EUR, etc.) using hotkeys on your keyboard, 7 pairs at a time. All forex traders can have this great forex chart setup with the instructions on our website for setting up the metatrader profiles by individual currency on any time frame.
Live Forex Signals USD Weakness
Live Forex Signals USD Weakness
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