Forex Blog

EUR/NZD Strong Downtrend

The EUR/NZD is in a strong downtrend on the major time frames like the W1 and MN time frames. When analyzing all of the NZD pairs, the NZD is currently strong on all pairs. Traders can set an audible price alert for a sell at 1.5030, this price is noted on the chart below. The next major support is at the 1.4250 area or lower, also noted on the charts. We also have other sell plans based on NZD strength in our daily trading plans.

EUR/NZD Strong Downtrend

EUR/NZD Strong Downtrend

To perform the analysis of the EUR/NZD we used multiple time frame analysis by individual currency, which is very powerful and revealing. The analysis revealed that the EUR/NZD was in a strong down trend based mostly on the consistent NZD strength in the market. Currently, the EUR pairs are somewhat neutral or choppy. If any EUR weakness comes into the market, perhaps after tomorrow’s EUR news drivers on the economic calendar, we expect a strong sell off on this pair. The Forex Heatmap® and live heatmap alert system will keep us apprised of any EUR weakness in the market in real time.

The EUR/NZD is a great pair for trading. This pair fairly high volatility and can be traded in both trading sessions, the Asian trading session and the main trading session. It can be traded after NZD news on the forex news calendar in the Asian session. Trading 28 pairs with trend indicators and great tools like The Forex Heatmap® forex heatmap is far superior to scalping the EUR/USD over and over with unreliable technical indicators.

Trend Indicators Setup For 28 Currency Pairs

This video will show traders how to set up our free forex trend indicators on any charting platform. Traders can use these indicators for multiple time frame analysis to analyze 28 currency pairs across the 8 different currencies we track every day. You can also use these trend indicators to follow our trading plans and the trends of the forex market. This is our “basic” trend indicator setup, some of our other videos will give you options for using the features and templates in the Metatrader charting platform that also fit our trading system.

This video is only 4 minutes and will show you how to set up one pair, then you can duplicate the procedure for all 28 pairs. The setup is for the Metatrader MT4 charting platform using the basic chart window, open, high, low, close barcharts and 5/12 exponential moving averages. It will show you the color settings and how to zoom and magnify the barcharts for better spacing and visibility. Using this procedure you should be able to set up 28 pairs in about 20 – 30 minutes.  We also have a set written instructions for setting up these exponential moving averages for our trading system, just click on the link.

Trend Indicators For Individual Currencies

In this video we will show traders how to set up our trend indicators for individual currencies. For example you can set up the USD pairs all grouped together on your screen so you can see all of the USD pairs together. This will allow you to see what individual currencies are strong or weak and consistent based on the trends of the market. This chart setup can be duplicated across any of the 8 currencies we trade. This setup works for the USD pairs, but it can be set up to view all of the JPY pairs on one screen, or all of the AUD pairs on one screen, etc. Once you set up a chart with these simple trend indicators you can arrange them by individual currencies by grouping them with your mouse. By setting up your trend charts this way, traders can group pairs together by individual currencies to match the eight currency groups on The Forex Heatmap®.

Here is an example: If the EUR is consistently strengthening in real time on the The Forex Heatmap® forex heatmap , then all of the EUR pairs will be grouped together in your charts also, for consistency. Conversely if you are analyzing the EUR pairs on the charts they will all be grouped together, just like the heatmap, once again for consistent analysis of one currency. This way your charts are set up to where the chart analytical method matches you trade entry system and is consistent. You can use these individual currency concepts to prepare trading plans based on individual currencies all trending in the same direction across multiple pairs, and it works for all 8 currencies we follow.

Forex Price Alerts, How To Set

This video will show forex traders how to set audible forex price alerts on the metatrader charting platform.  This will allow traders to monitor any currency pair for price breakouts or trend continuations after consolidation phases. First, a trader should locate a trend on the larger time frames for a trend continuations or breakout point.  Then you locate the breakout point on the short term support or resistance levels on the smaller time frames, like the M5 and M15 intraday time frames.

Next, traders can set an audible forex price alerts at the short term levels to intercept the next price movement. Then the video will illustrate the mechanics of setting the price alerts for any pair. When the audible price in the alert is hit, the audible alert will notify you of the price breach on your desktop with an audible alarm, and these alerts can also can also be delivered by email to your email box or mobile device. Then you can check The Forex Heatmap® forex heatmap to verify the trade entry. This is one of our alert systems, we have several professional live forex alert systems so you always know when the forex market is moving.

Forex Trading Signals CAD Weakness

Today in forex trading the GBP/CAD and NZD/CAD moved higher on CAD (Canadian Dollar) weakness. The GBP/CAD should continue higher on the H4 and possibly D1 time frames, but the major trend on this pair is down on the MN time frame. The GBP/CAD still has upside potential to move higher going forward for 1 or 2 two days. Sometimes currency pairs move higher on the H4 or D1 time frame even though they are in long term downtrends, so traders must scale out lots and manage the trade with stop orders to preserve any profitable trades  against the major trends.

The NZD/CAD also moved higher on the CAD weakness, but this pair is inside of various levels of resistance, for that reason we would scale out lots or exit this trade. The forex signals for the CAD pairs are shown below from The Forex Heatmap®, along with the price chart movement. The heatmap provides accurate trading signals for 28 currency pairs that are better than any free forex trading signals or paid signals used by traders now. These signals can be used for day trading or entering new or existing trends on the higher time frames.

GBP/CAD Price Chart Movement

GBP/CAD Chart Movement

CAD Weakness

CAD Weakness

Metatrader Profiles For Individual Currency Analysis

This video will show traders how to set up metatrader MT4 profiles for easy analysis of individual currencies. This type of chart setup is very important to test with your trading for use with the Forexearlywarning trading system. With the metatrader profiles you will be able to look at 7 charts on one screen at a time on any time frame,. This will open your eyes to the pips very fast and maximize your profits. This chart setup highly recommended for all of our clients andwill provide you with a lifetime of pips.

Trade Entries Chart Setup – After setting up the metatrader profiles you will be able to navigate quickly through the charts, 7 at a time. For trade entries you will be able to look at the lower time frames like the M5, M15, or M30 to manage your trade entries. All 7 charts will have one common currency. This chart setup will mimic the mimic The Forex Heatmap®.

Metatrader Profiles Trade Entries Setup

Metatrader Profiles Trade Entries Setup

This is The Forex Heatmap® live trading signals for the JPY pairs, showing consistent JPY weakness, your charts will be set up the same way for consistency withh all 7 JPY pairs together on the same screen

Metatraders Profiles Charts

Metatraders Profiles Charts

Much easier to see the pips in your trade entries by viewing the smaller time frames all grouped together like this to match the heatmap live indicator signals. Then you can switch to the JPY pairs on the higher time frames to see if you should stay in the trade due to strong trends. In a tight ranging market you can just exit any JPY pair buy as an intraday trade or daytrade.

Market Analysis Chart Setup –  Then set up the metatrader profiles for the higher time frames, like the H4, D1 and W1. This chart setup will mimic our forex market analysis spreadsheet. Filling out the spreadsheet will be easier with this setup and you will clearly see what currencies are strong or weak, trending or not trending,  and moving the market.

The video below is for setting up the Metatrader Profiles. However, traders can use any charting platform, including web based forex charting systems, as long as the are set up on the same time frame by individual currency.

Video Content – This video will show you how to set up 7 charts on one screen for any time frame. All 7 charts will have one common currency in each pair. Example: You can set up all of the EUR pairs on the shorter time frames for monitoring trade entries with the heatmap and our alert systems. Or you can set up all of the EUR pairs on the longer time frames like the D1 time frame to check the overall market for EUR strength or weakness.

Navigate quickly through the charts 7 charts at a time using the hotkeys on your keyboard. CTRL and F5 button simultaneously to move forward and Shift and F5 keyboard to move backwards. You can set up each currency group of 7 pairs in one MT4 profile, then name the profile. Repeat the process for all 8 currencies we trade: USD, CAD, EUR, GBP, CHF, JPY, AUD and NZD pairs. This is the best, most professional, and profitable forex chart setup in the forex trading industry. Traders will always understand why a group of pairs is moving up or down and what currencies are moging the market, while avoiding technical indicators, which are ineffective.

We also have 2 more videos titled “Fine Tuning Your Forex Trade Entries” in our Youtube library. These videos expand the discussion on the Metatrader profiles and their importance to your trade entries and individual currency or overall market analysis technique.

The Forex Heatmap ® Video

This video will introduce forex traders to the The Forex Heatmap®, which provides forex traders with live trading signals for 28 pairs and eight currency groups. This 7 minute video will show you all of the basic features and functionalities of the heatmap and will give two live trading examples on two different pairs. The Forex Heatmap® forex heatmap organizes large amounts of data from the forex market into an intuitive visual map that any forex trader can read, even beginner forex traders. The heatmap can be used to assist with entering forex trades as it sorts through 28 pairs to show you the best trading opportunities in the forex market in real time.

When combined with trading the larger trends and time frames it can be part of a high quality forex trading system. Accurate, real time trading signals for 28 pairs are now here for all forex traders, in the form of a easy to read, but powerful visual map of the forex market. Forex analysis using parallel and inverse pairs, and currency strengh, to assist with forex market analysis and on all of your forex trade entries will help you to thrive as a forex trader.

NZD/USD Uptrend

The NZD/USD is in an uptrend on the larger time frames. The W1 time frame is shown below in the image. Current resistance and price alert  point is at 0.7305, annoteted on the chart below. Forex traders should set an audible price alert at this price on their trading platform or metatrader to help to intercept the movement.

Then when the audible price alert hits you can verify any buy trades with The Forex Heatmap®, our real time visual map of the forex market. You would check the heatmap for NZD strength, or USD weakness, or both for trade entry verification. The next resistance level is at the 0.7500 – 0.7700 level as noted on the chart on the left. This is 200 to 400 pips of upside potential as the USD weakness is prevalent in the market now.

NZD/USD Uptrend

NZD/USD Uptrend

Real Time Currency Alerts, Improve Your Trade Entries

This video will show traders how to use our real time currency alerts for 8 currencies and 28 pairs. We will show traders different examples of how the alerts look, then you can check the other market conditions like the trend to see if a new trade entry is warranted. With this real time alert system forex traders will always know when the market is moving . The system works for 8 currencies, USD, CAD, EUR, CHF, GBP, AUD, NZD and JPY pairs, and it gives real time alerts moving in either direction, continuously during regular forex market hours.

The alerts will tell traders tell if if the JPY is weak, NZD is strong, etc. and also tell traders the quality of the strength or weakness in each currency. The alerts are based on the signals o The Forex Heatmap® forex heatmap. When you see a new alert you can check the heatmap to look for consistent strength or weakness in any one of 8 currencies, then condsider a trade entry. This system regularly gives live alerts for movements of 100  to 150 pips , or possibly a lot more on the more volatile pairs we track. This video shows three different examples of alerts, heatmap signals, and associated price movement on the charts. The alerts are visible on any device in real time, including desktop, laptop, Android or IOS mobile devices. We have a complete suite of professional forex alert systems for traders to be notified of when the market is moving.

Bank Of England Interest Rate Cuts

Today in forex news the Bank of England interest rate was cut, dropping interest rates from 0.50% to 0.25%. The Monetary Policy Committee left the door open to more cuts going forward. The cut was widely anticipated in this post Brexit business environment. So today, August 4, 2016 is the first Bank of England rate cut in 7 years.

For forex traders, Bank of England interest rate news can cause strong movements and formation of new market trends of the British Pound against the other major currencies we follow. The British Pound dropped strong against all 7 currencies we follow after the news today. The GBP/USD is at an intra-day low of 1.8240 and the GBP/NZD had an intra-day low of 1.7750. Most GBP pairs we follow remain inside ranges and clusters, but the GBP/NZD and GBP/JPY have broken short term support levels. A chart of the GBP/JPY is shown below illustrating the the intra-day price movement of over 200 pips.

We expect more GBP pairs to follow and form trends based on GBP weakness. The long term trends on the MN time frame on all of the GBP pairs continues to show GBP weakness. Today’s live sell signals from The Forex Heatmap ® forex heatmap are shown below to show the GBP sell off, along with the price chart movement after the Bank of England news announcement today. We will look to continue writing trading plans to sell these pairs in our daily trading plans, as the trends are now in place.

Forex news drivers like like the Bank Of England interest rate decisions can be profitable events for forex traders. If traders have the proper trading system, signal system and know the direction of the trends on the GBP pairs, they can successfully trade forex news in the direction of the trend.

Bank Of England Interest Rates

Bank Of England Interest Rates

Bank Of England Interest Rates

Bank Of England Interest Rates