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Market Report presented in Metastock. Data provided by Reuters Data.

I am being asked a lot about the relevance of the Market Report (above). I have been updating the site over the last couple of weeks with the information for you to trade with. Some of you I know are using this and are making money from it. Others seem to be at a loss as to how to use it. Below I will show you the purpose of how this will be beneficial to you all. Those of you that trade currency, oil or commodities should be subscribing to the Market Report anyway.

Look for the currency that either yesterday (for day trading purposes) or last week/month (for swing/position trading purposes) has moved the most.

The biggest movers coupled with your usual technical analysis will provide you with the basis of entry on certain currency pairs or crosses. This week so far (yesterday), the JPY and CHF seem to be big movers. Doing technical analysis on these will usually provide better results than other currencies at present, especially when the market is range bound.

As for news, we have interest rate anouncement due out tomorrow. Consensus is for a 25 basis points drop. I am not going to speculate on this but will trade the news tomorrow based on the actual.

Biggest release we have is NFP and usually we find a few inside days prior the release but that may not be the case this week due to interest rate decision consensus.

Unfortunately I have still not managed to get my Comms data working so cannot update the site with that chart. Once working again, I will put a chart or two up here for you.

GBPUSD is currently at 26 year highs and still seems to be going strong. Keep a close eye on this as we will very likely see big movments on this tomorrow.

Good luck today and dont forget to sign up for our newsletter due out next week.

FX Analyst Team