Aussie dollar strengthens as RBA keep rates on hold

by Quantum Trading Comment Closed
The main focus overnight was in Australia with the RBA deciding to hold the current cash rate at 2.25%, with no cut. This decision was against the backdrop of declining commodity prices and a slowdown in China with many expecting the rate to be cut to 2.00%. As a result the Aussie dollar strengthened on the news against many of the major currencies, with another nice move on the EUR/AUD on the 15 minute chart. The Quantum accumulation and distribution indicator initially defined the support and resistance region with the 1.4360 being the key level of support and a region that had been tested on several occasions prior to the news. The bearish sentiment was confirmed with the trend monitor to the bottom of the chart which continues to remain bearish in this timeframe with the move lower accompanied by high volume and confirming the short term bearish trend. To the left of the chart and the Ninjatrader currency strength indicator,...
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NinjaTrader launches forex brokerage

by Quantum Trading Comment Closed
Denver, CO, Tuesday, April 7th, 2015 - NinjaTrader Group, LLC has announced the addition of forex trading to the services available through NinjaTrader Brokerage. Users of the awardwinning NinjaTrader platform can now access the world’s largest and most liquid market directly through a NinjaTrader Brokerage trading account. “We are excited to expand our brokerage services offering with the addition of spot forex”, stated Raymond Deux Founder and CEO of NinjaTrader.    “NinjaTrader users have continually recognized the advanced analysis and automation capabilities of the platform are an ideal fit for the highly liquid forex markets. Combined with our Ecosystem of over 450 partners and add-on applications, NinjaTraders’ extensibility allows FX trader’s to customize the platform to match their evolving requirements.” As an Introducing Broker for FXCM, NinjaTrader Brokerage clients will have access to one of the industry’s largest networks of FX liquidity providers. This partnership will deliver savings to NinjaTrader clients through super tight spreads and deep discount commissions as low as...
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Terrific trend on the EUR/AUD this morning

by Quantum Trading Comment Closed
In this morning's forex trading session with Anna and David, one of the currency pairs they focused on was the EUR/AUD, which was the strongest performing currency pair in the currency matrix. The 60 minute currency strength indicator confirmed the longer term position, with the euro (the orange line) climbing strongly towards the overbought region on the indicator, with the Aussie dollar ( the blue line) moving firmly towards the oversold region in this timeframe. The 5 minute chart alongside reflects the trend, with the trend monitor maintaining the bullish picture, and only moving into a transitional color during the minor congestion periods. The trend monitor sister indicator,  the trend dots completes the picture and highlighting these congestion phases in advance. Volumes throughout the move were in agreement and confirming the bullish sentiment for the pair with the accumulation and distribution indicator on NinjaTrader, highlighting the keys areas of support and resistance. The support platform at 1.4252 held firm during the...
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Forex currency strength indicator explained

by Quantum Trading Comment Closed
Question Hi Anna, Firstly, I just wanted to say I've just finished "Forex For Beginners" and I thoroughly enjoyed the book; found if extremely helpful and useful. Opened my first forex account on Friday of last week. Made some mistakes at first, lacked the discipline to follow my strategy, I think I was a tad over keen to trade at first. I've just purchased "A Complete Guide to VPA" so I'll start on that tonight. I have a quick question though if you wouldn't mind answering. In Forex for Beginners, you use the Currency Strength Indicator to look for potential indicators of an upcoming reversal. And then from this you use the currency matrix and analysis to confirm the reversal. I was just wondering, if you could use the same strategy to indicate a continuing trend? If this is explained in the book I've just purchased I apologise, I just thought I'd ask. For example, if both the Aus and Usd are...
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