As the dust from the Non-Farm Payrolls sets, it’s time to sit back and relax on some long-term forex-related articles for this long weekend. Here are my picks from the web. It was a very busy week indeed. Apart from a packed calendar and the Non-Farm Payrolls, the Bank of International Settlements officially released its triennial survey stating that  forex trading reached a daily volume of 4 trillion dollars . I’ve reported this almost... 

Just a quick reminder. I will be giving a seminar on forex trend trading and strength/weakness pairings at The Futures and Forex Expo in Las Vegas (September 23-25). Here are the details: http://www.moneyshow.com/lvfx/main.asp?scode=019708 . Hope to see everyone there! James Chen, CTA, CMT  Read More →

If you have read the international papers, you may know that there are two political developments that is worth paying attention to. On August 21st, Australia held general elections for Prime Minister and if you recall, the votes were so tight that nearly 2 weeks later, there is still no clear winning. The country is in a political deadlock but thankfully this matter could be resolved in the coming week as Julia Gillard secures the support of... 

Non-Farm Payrolls for August are expected to show another big drop, but with a gain in the private sector, showing that growth still continues. Here’s a preview for this release, the “king of forex trading” with 7 possible outcomes and expected market reactions. This is the most important event in forex trading, and has unique characteristics. I highly recommend reading my 5 notes for Non-Farm Payrolls trading , and especially... 

We end this week with some interesting news in the US, Unemployment Rate Percentage & Non-Farm Employment Change, in Great Britain Services PMI, Paul Tucker speaks and more. Let’s see what awaits us today. In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI), Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including... 

The long wait is over! The Bank of International Settlements (BIS) has just released the results from its Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity , conducted in April 2010. The report contains a veritable treasure trove of data, perhaps enough to keep analysts busy until the next report is released in 2013. [Chart below courtesy of WSJ ]. First, the data confirmed earlier …  Read More →

Here is a great interview featuring my colleague Boris Schlossberg talking about the surge in FX volume  Read More →

Labour day is unofficially the end of the summer in the US financial markets, so, although the UK and Europe are returning to work (the rest of the world never stops working we know), in this vacuous state of current market theme it may be a case of “No, you go first.. No please .. After you”. Because it certainly feels as though no one REALLY wants to do anything and true commitment to trades is very light and can be swung on a dime.... 

EUR/USD made a sharp move up and settled in a new region, within the uptrend channel. Will it stick to the channel until the Non-Farm Payrolls?  Here is a quick update on fundamentals, technicals  and community trends. EUR/USD within uptrend channel, that began last week. Click to enlarge. EUR/USD Technicals Asian session:  After yesterday’s sharp move upwards, EUR/USD relaxed in the Asian session. Current Range …  Read More →

U.S. Unemployment Claims, U.S. Pending Home Sales and the Euro-zone GDP are at the front of the news. Here is an outlook on all market moving events awaiting us today. In the US, Unemployment Claims was lower than expected in the previous week with 473K a rise of 3000 to 476K is expected now. More in the US, Non-farm business sector labor productivity decreased at a 0.9 percent annual rate during the second quarter of 2010 a further decline of... 

Price action on AUD/USD (a 4-hour chart of which is shown) as of Wednesday (9/01/2010) has broken out above several resistance levels, establishing a new 3-week high in the process. This occurs after price action broke out above an important parallel downtrend channel last week, corrected back down to re-test key 0.8850 area support as well as the top border of the broken downtrend channel, and then shot up from that support base. For more technical... 

If you want to achieve forex success and profits you need to stop following the dumb money, which represents the majority of traders. You need to follow the patterns of the small percentage of traders who are dominating this market in terms of profits. These traders are cold, calculated killers who have studied the rest of the market (i.e. their prey) well and hard and no how to react when the market behaves in a certain way. Guest post by Kris... 

The best reason to buy euros is because this man likes ‘em! Premier Wen Jiabao, the leader of China said last night that China and Western Countries should work together to enhance the world’s confidence in the euro and the European Union’s economy. China will be working directly with Spain on this initiative as Wen invited Chinese investors to invest in Spain’s financial, renewable resources and electric cars industries,... 

This morning the Bank of International Settlements released its Triennial FX survey which is basically the market’s benchmark for forex volume and turnover. To no one’s surprise, volume has surged over the past 3 years. Between April 2007 and April 2010, global foreign exchange market increased by 20 percent from $3.3 trillion to $4.0 trillion, which is now the golden number for forex volume. Reading between the lines, we can tell... 

Here endeth the Summer. We hope you have enjoyed your break in the market’s road side service station, because it’s time to climb back on board before heading back out onto the highway. Remember, tiredness kills. Unfortunately too many Macro punters, instead of sitting back and sipping overpriced “beverage-like products” surrounded by screaming kids have been out playing with the traffic and come off worst. Or have done a...