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Forex Trading Blog Updates
In case you're wondering why I'm skipping ahead to the forex mechanical system review, it's because the Triple SMA Crossover didn't generate any valid trade signals for my forward testing.
It's not what you may already have heard. It's not common, and it's certainly a road less taken...I think that's why it's worked.
It was another choppy and volatile week for the crosses, which means we gotta stay on our toes for both trending and range plays this week in forex trading.
Today the Federal Open Market Committee wraps up its latest monetary policy meeting.
Ooh, it looks like the competition is heating up between some forex brokers! Word through the grapevine is that FXCM Australia and DMM FX Australia are battling it out with ultra-low fixed spreads.
The Fed ends QE as expected, but there were positive comments from the FOMC that has forex traders still optimistic of a rate hike--and me bullish on USD.
Unfortunately I ended up slightly negative today with one winner and one loser. However, I did stick to my rules and so I'm ok with the end results. See how it all went down in today's Cowabunga System Surf Report.
Looks like today's Asian trading session was the FOMC after-party for the dollar bulls! The Greenback continued to advance against its forex counterparts in the past few hours, as traders caught up to the relatively hawkish Fed statement.
The FOMC is just full of surprises, isn't it? While their September rate decision turned out surprisingly dovish, the tone of their monetary policy statement this month was the exact opposite!
Let's take a look at a few simple forex plays on the dollar pairs today. Here's what I found on GBP/USD, USD/CHF, and USD/CAD!
With forex trading success comes higher expectations, and this could bring more anxiety. How can you cope with the additional pressure?
Hey, forex fellas! Here's a quick update on how my latest comdoll trades are going so far. My long CAD/JPY went fine but my short EUR/NZD ain't looking too good!
Is it just me, or is USD/JPY gearing up for another move higher? Here's the forex trade setup that I spotted!