9 Currency ETFs That May Influence Your Trading Strategy - free forex trading account with real money

9 Currency ETFs That May Influence Your Trading Strategy ~ free forex trading account with real money

Many Forex Traders and Investors have a sizable interest in what may be happening to various currencies regarding their trading strategy. Today I will gather some information on a group of ETFs related to several of the heavily traded currencies.

• Currencies are volatile today and will be more volatile as weeks pass.
• Countries are manipulating their currencies to gain advantages and export markets.
• Politicians are exploiting interest rates and QE programs to stimulate their economies

The following are the Guggenheim CurrencyShares Trust Vehicles:

Australian Dollar (FXA)

Canadian Dollar (FXC)

Euro (FXE)

Japanese Yen (FXY)

British Pound (FXB)

Swedish Krona (FXS)

Swiss Franc (FXF)

Singapore Dollar (FXSG)

Chinese Renminbi (FXCH)

As you can see, this list covers the important and most heavily traded currencies exclusive of the US Dollar.

In another article I will explore the relationships of each of these currencies with the US Dollar.

Here is a chart from ETFScreen.comoutlining a comparison of the Relative Strength factor for the past quarter. Of course, as each day passes there will be changes in Relative Strength factor and the order in the list will change.

This next chart illustrates a comparison in percent change for the past several months, I am assuming that the down slope is closely related to the climb in the US Dollar.

This chart, from etf.com illustrates the fund flows into each of these ETFs for the past month.

Of course we want to know what is in the future for currencies and that is not easy to know, there have not been many successful forecasters. However, there is one school of thought that we can consult and that is based on past performance.

Point and Figure Charts are not the holy grail, however they have a good track record and for this purpose they will cast some light on future direction.

Here is the P&F chart for FXA, the Australian Dollar Trust, I point out the Bearish Price Objective.

Instead of posting a P&F Chart in here, I will list the Price Objective (as at January 23,2015) for each Currency ETF.(Source Stockcharts.com)

Australian Dollar (FXA) 70.00

Canadian Dollar (FXC) 84.00

Euro (FXE) 86.00

Japanese Yen (FXY) 62.00

British Pound (FXB) 210.00

Swedish Krona (FXS 82.00

Swiss Franc (FXF) 151.00

Singapore Dollar (FXSG) -

Chinese Renminbi (FXCH) -

(FXSG and FXCH unavailable)

I will be updating the information on each of these currencies and ETFs in coming days.

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Japanese Forex Trading Preview - forex trading uk tax implications

Japanese Forex Trading Preview ~ forex trading uk tax implications

The dollar starts the week softer against the euro, sterling and Swiss franc, but firmer versus the yen. Traders are in store for a slower week in the way of US economic reports, with the following slated for release; May housing starts, building permits, weekly jobless claims, May leading indicators and May durable goods orders. Returning to the fore is uncertainty from Asia, with North Korea completing fuelling of missiles with a range to reach the US.

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Signal at 12 10pm GMT 8 - forex trading and income tax

Signal at 12 10pm GMT 8 ~ forex trading and income tax

GBPJPY Sellstop 157.36, SL 158.51, TP1 156.86, TP2 155.93. GBPUSD Sellstop 1.6550, SL 1.6605, TP 1.650

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Surge in aluminium prices helps lift trade figures - api for forex trading

Surge in aluminium prices helps lift trade figures ~ api for forex trading

A surge in prices for aluminium exports helped lift the merchandise terms of trade index 1.1 per cent in the March quarter, Statistics New Zealand (SNZ) said today.

The figure was unexpectedly good with economists polled by Reuters having forecast a 1 per cent fall.

The terms of trade index measures how many goods can be imported for every dollar of exports.

SNZ said merchandise export prices were up 3.2 per cent, the largest quarterly increase since a 7.2 per cent rise in the June 2004 quarter.

The most significant contributor was non-food manufactures up 5.9 per cent, predominantly driven by a 22.6 per cent increase in aluminium prices.

The second most significant contributor to the rise in export prices was a 4.9 per cent rise in the forestry products index, with prices for wood exported as logs up 6.5 per cent, wood pulp up 5.1 per cent, and paper and paper products up 2.7 per cent.

The rise followed depreciation of the New Zealand dollar against currencies of our major trading partners, combined with increasing world prices for some of our major export commodities, SNZ said.

Import prices were up 2.1 per cent, with transport equipment up 4 per cent, pushed by higher prices for aeroplanes and other aircraft, and new passenger motor cars.

The petroleum and petroleum products index continued to rise although at a slower rate. In the March quarter it was up 4 per cent, following a 5.6 per cent rise in the December quarter and 11.3 per cent rise in the September quarter.

Weakness of the New Zealand dollar had been a factor in the import price rise, with the March quarter being the first since June 2004 that the currency had fallen against the currencies of all major trading partners, SNZ said.

Seasonally adjusted export volumes fell 2.4 per cent, with a 17.2 per cent drop in meat volumes the main contributor. The volume of meat exports was at its lowest level since the December 2002 quarter.

Seasonally adjusted import volumes were up 0.5 per cent with fuels and lubricants the main contributors.

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Very easy to follow and very profitable !! - forex trading tax in india

Very easy to follow and very profitable !! ~ forex trading tax in india

Do you know? At least 90% of new Forex traders lose all their money within Their first 3 months of trading, Moreover most of beginner traders are bankrupt !!   Why does it happen ?   Because Most of Beginner Traders are just using their "INTUITION" without seeing or learning trend forex ...   This means that they have no idea what the heck they are doing! They just jump into the forex market blindly with only hopes and dreams And rely on the flip of a coin to determine their success.   90% of Forex traders are uneducated and lack the basic knowledge of how the Forex really works. They rely solely On luck without LEARNING ANY OF THE BASICS AT ALL! And reliable sources suggest that up to 10% of these Under- informed Forex traders end up losing their entire trading account! . . So why do they FAIL..They only use instinct without learn trend market price and initially over confident and consider Their quick 5 minute market analysis to be 100% correct. More often they are 100% WRONG!   Avoid using intuition in forex trading without good accuracy !! ..

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Signal 1 25pm - forex trading tax implications

Signal 1 25pm ~ forex trading tax implications

GBPJPY Buystop 158.87, SL=157.94, TP1=158.37, TP2=160.48   GBPUSD Buystop 1.6525, SL=1.6474 TP=1.6575

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DGCX to start currency trading from June 12 - forex trading home based business

DGCX to start currency trading from June 12 ~ forex trading home based business

The Dubai Gold and Commodities Exchange (DGCX) will start currency futures trading in three currency contracts from June 12, said Framroze Pochara, Chief Executive Officer of DGCX yesterday.

With the launch of currency futures, DGCX has entered select league of global derivative exchanges that offer currency derivatives. DGCX already has gold and silver futures and expects to add fuel oil and steel futures in the near future.

Speaking to Khaleej Times yesterday, Pochara said there is a huge spot market for leading international currencies in the UAE. While the futures market will serve as an ideal hedging platform for banks, money exchange houses and trading houses it will also offer investment opportunities for currency investors.

Initially DGCX will trade futures contracts in 3 currencies — Euro-Dollar, Yen-Dollar and Sterling-Dollar with contracts maturing in March, June, September and December each year. These will be deliverable contracts. This will establish DGCX as the first exchange for trading currencies in the Middle East.

The global spot market for currencies exceeds $2 trillion daily turnover while the derivative transactions are several fold larger than the spot market. DGCX expects participation from all leading local, regional and international banks in the currency futures trading. “Currently we have more than 100 broker members on DGCX and all of them are eligible to participate in currency trading from day one. The initial response has been very encouraging and we expect good response from all market participants,” said Arshad Khan, Director of DGCX.

DGCX will follow T+1 trading system in currency trading with National Bank of Dubai and HSBC acting as delivery banks for settlement of DGCX currencies futures contracts.

Read more here.

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Uproar in World Currency Markets As Yuan Is Devalued - forex trading institute guatemala

Uproar in World Currency Markets As Yuan Is Devalued ~ forex trading institute guatemala

It will be important to adjust your trading strategy this morning as world markets appear to be in a state of flux.

China has seen a deterioration in their markets and as a result has stopped trading.

European Markets seem to be weak and falling and it may well be that these conditions will prevail when New York opens as well.


Rupee trades lower against US dollar - Economic Times
Thu, 07 Jan 2016 03:59:00 GMT
We expect that the CNY (yuan) to continue depreciating through to the Chinese New Year as the US dollar strengthens on a combination of relative monetary policy and risk aversion, said ...


China lets yuan fall faster, share trading suspended as prices tumble - Reuters
Thu, 07 Jan 2016 10:32:29 GMT
ReutersChina lets yuan fall faster, share trading suspended as prices tumbleReutersThe Peoples Bank of China again surprised markets by setting the official midpoint rate on the yuan, also known as the renminbi (RMB), 0.5 percent weaker at 6.5646 per dollar, the lowest since March 2011. That tracked record losses in the more open?...China jolts markets with sharply lower yuan fixCNBCOffshore Yuan Rises From Five-Year Low as PBOC Puzzles MarketsBloombergOffshore Bets Against Yuan Gain Momentum


Chinese Stocks Halted as Yuans Slump Sends Markets Into Turmoil - Bloomberg
Thu, 07 Jan 2016 09:05:00 GMT
BloombergChinese Stocks Halted as Yuans Slump Sends Markets Into TurmoilBloombergThe worst start for Chinese markets in two decades showed no signs of letting up after the central bank cut its yuan reference rate by the most since August, sparking a selloff in stocks that forced the $6.6 trillion market to shut early. Chinas CSI ...China Stock Markets: Plunge Caused By Falling Yuan, Adds To Concerns About New ...International Business TimesChina blames speculators for weakened yuanMarketWatchChina stocks rise but offshore yuan hits new low


Canadian Dollar Hits Multiyear Low - Wall Street Journal
Wed, 06 Jan 2016 21:50:00 GMT
TORONTO—The Canadian dollar hit a new multiyear low Wednesday as another day of slumping oil prices and renewed nuclear threats from North Korea led investors to seek safety in the U.S. dollar. The U.S. dollar was recently at C$1.4083 from C$1.3995?...Loonie hits twelve year low, but there could be benefits to the slumping dollar


US dollar will dictate broad market performance in 2016 - Financial Times
Wed, 06 Jan 2016 05:09:00 GMT
We think the second scenario will prevail — the more virtuous end to the US dollar cycle — but the interplay of interest rate differentials and dollar valuation early in 2016 will be critical in setting the market tone across all major asset classes ...Opinion: How debt, the dollar, and China could tie the Feds hands

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How can YOU Earn Thousands of Dollars Each Day - forex trading tax in south africa

How can YOU Earn Thousands of Dollars Each Day ~ forex trading tax in south africa

FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand.

As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 2 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies
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Signal today 1 00pm GMT 8 - forex trader tax haven

Signal today 1 00pm GMT 8 ~ forex trader tax haven

GBPJPY Sellstop 155.30, SL 156.18, TP1 154.80, TP2 154.05. GBPUSD Sellstop 1.6432, SL 1.6482, TP 1.6382

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Day Trading Forex Currency - forex trading tax implications uk

Day Trading Forex Currency ~ forex trading tax implications uk

Right, day trading today. People are very interested in the concept of day trading. And i think there are at least few reasons for this. Before i will go into details, lets define day trading, what it really is.

On Forex day traders are guys who make a lot of trades (like over 10) in a single. Each of the trade is closed by the end of trader trading session, on Forex it usually means turning your computer off. Note that this is not the same as scalping. The only similarity between scalping and day trading is that, a lot of traders fail there.

Main resaon for this is that traders are tempted with huge profits, when doing day trading people are almost always using huge lavereages, like 100:1, it means buying 10 Lots with 10 000$. I think you can easily see how much one PIP is worth then, yeah it is 100$. It seems great at first, looks like a quick cash, but consider the fact that you only need 100 PIP move in the wrong direction to meet mr. Margin Call.

In reality when you trade on such high leverage it looks like everything is happening with a speed of light, while in fact it all happens with a normal speed, it is this ridiculous leverage that makes things harder.

Next thing you need to consider when you want to do day trading on forex currencies, is that not every broker will be happy with what you are doing, they may close your account or limi your leverage if ... you will start making money. So chose your broker wiseley checkout Forex forums and read brokers reviews make sure they allow day trading.

You may now think, wow day trading is hard. Well in fact it really is harder then you think. I am not saying it cannot be done, i am not saying you cannot earn like 200% a month. I am just saying that success with day trading want happen overnight, if you focus on it and commit to becoming day trading the success will come with time and experience.
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What is Double Top Strategy in Currency Forex Trading - forex trading courses nz

What is Double Top Strategy in Currency Forex Trading ~ forex trading courses nz

Double Top Strategy in Currency Trading

Forex trading now being very popular through out the world . Many investors like to trade in Forex than stock markets . But , Without proper basic knowledge , traders or investors can loss all their valuable money. So before investment in Forex Market, traders should learn few basic fundamentals & strategies to reduce risk . The "Double Top technical analysis charting pattern" is a common and highly effective price reversal pattern in Forex Market. 

Double Top Formation Components:-

First High: Bulls push prices upwards making new highs; however, these new highs are short lived and prices retreat.

Second High: Prices dont retreat for long because bulls make another run, making a similar high. Nevertheless, this is bearish, because bulls were unable to push prices higher; bears held their ground at the previous high level. The bears push prices back to support (Confirmation line); this is a pivotal moment - either bulls will make another push higher or bears will take control and push prices even lower, more than likely taking over for good.

Double Top Sell Signal:-
Sell when price closes below the confirmation line.

Note that traders expect a significant increase in volume to accompany the confirmation line break; if there is very little volume when price pierces the confirmation line, then the move downward is suspect. Small volume usually means weak support of price movement 

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Top Performing Currency ETF Using Relative Strength Factor Trading Strategy as at January22 (updated) - forex trader academy

Top Performing Currency ETF Using Relative Strength Factor Trading Strategy as at January22 (updated) ~ forex trader academy

The Top 5 Currency ETFs today using the Relative Strength Factor Trading Strategy are shown in this chart. (ETFScreen.com)

We can take a look at this group and make some comparisons regarding performance.

The best performer in this group is the 

PowerShares DB 3x Long US Dollar Index Futures ETN

Some statistics:

Here is a one year chart:

Here is a Point and Figure Chart showing a target price of $83.50.

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Financial Technologies India recommends 260 dividend - forex trading and uk taxation

Financial Technologies India recommends 260 dividend ~ forex trading and uk taxation

Financial Technologies India has recommended a final dividend of 260% for the year. During the year the company has paid interim dividend of 40% and accordingly, total dividend for the year aggregates to 300%.

The decision was taken by the board of directors of the company at its meeting held on June 17, 2006.

Financial Technologies (India) (FTIL), headquartered in India and listed on the Bombay Stock Exchange, is India`s leading vertical specialist enterprise delivering mission-critical, straight through processing solutions comprising domain expertise, technology licensing and development & transaction outsourcing services.

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Polish Currency - forex trading tax ireland

Polish Currency ~ forex trading tax ireland

If you are considering, long term investment, like one or two months than Polish currency might be interesting for you. For the last year it got stronger and stronger. Just checkout the charts below, this are EUR/PLN and USD/PLN, timeframe 1 year, on both charts you can see what i would call quality trend. Line is at 45 degrees, almost no corrections.

EUR/PLN

Lets start with EUR/PLN, i wont even talk about technical analysis, indicators and so on, you can see what is happening here. Just draw the line wait for minor correction and get into trade. You maybe wondering.

Ok it went down for a year, wont it turn back? This is a good question, i think this trend can end up pretty soon maybe 3 or 4 months, hard to say really. The problem here is that Polish bussiness has a problem with strong PLN against EUR, because a lot of companies export their products to west Europe. With strong Polish currency, their products are actually more expensive and thus less competetive.

The bottom line is, Polish bussinessmen want this trend to stop, and i believe that government will do what they ask for, the question is when?


USD/PLN

Now look at USD/PLN chart it looks almost the same as EUR/PLN, so again i wont go into details how to trade it.
Now to answer the same question as earlier, is this trend here to stay? I think it is, because gas price in Poland pretty much depends on gas price in USA. When gas price in USA gets more expensive it also gets more expensive in Poland (and rest of the world btw).

However, if gas price will go up, but at the same time Polish currency would get stronger against dollar, then it wont affect Poland as much as it would without USD/PLN going down.

Now if i got you interested in this form of investment, you will need a broker, which allows to trade Polish currency or at least EUR/PLN and USD/PLN. As far as i am concerned there are not much brokers who allow this. The ones who do are Oanda and maybe SaxoBank however i am not sure of that.

That is not end of the problems, even if you will find broker who allows to trade this pairs, probably spread on them will be somewhere between 20 and 40 pips, so like i said it is only good to trade them if you are looking for long term investment not scalping or even swing trading.

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DGCX launches currency futures trading - all about forex trading amazon

DGCX launches currency futures trading ~ all about forex trading amazon

Trading in currency futures commences tomorrow, Monday 12th June 2006 on Dubai Gold and Commodities Exchange (DGCX).

This is the third product to be launched on the DGCX after Gold, (November 2005 at launch) and Silver (March 2006).

From today, DGCX brokers will be able to trade Euro/US Dollar, Yen/US Dollar and Sterling /US Dollar contracts with other contracts coming on line over time. Each of these currencies will have four forward months contracts maturing in March, June, September and December. The contract size for Euro/USD and Sterling/USD will be 50,000 while the contract size for Yen/USD will be 5,000,000.

DGCX continues to develop apace with the existing contracts achieving phenomenal growth. In the most recent market update, DGCX confirmed that Gold futures volumes grew by 54% from April to May, reaching a staggering 62,139 Kilos. These figures include a highest ever daily traded volume of 6062 contracts on 15th May.

With commodity markets in the middle of a major bull run, the introduction of a diverse range of commodities on DGCX, offers an ideal platform for market participants to trade all the products on a single exchange platform. The Exchange plans to introduce futures contracts on steel and marine fuel oil in the fourth quarter of 2006.

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Cash In On The Currency Wars Using ETFs - forex trading virtual account

Cash In On The Currency Wars Using ETFs ~ forex trading virtual account

Summary

• Currency ETFs are becoming volatile as Currency Wars expand.
• 
  
• The US Dollar strength is impairing sales and profits for manufacturers.
• 
  
• European politics is creating turmoil for the Euro and that will impact many currencies.
• 
  
• We have tools and alternative tools to exploit fluctuations in currency ETFs.

Lets have a look at this chart I have constructed using Relative Strength factor of a US Dollar Index ETF(UUP) and six ETFs which are used to make up the US Dollar Index.

The six US Dollar Index component ETFs I have selected are Guggenheim FXF,FXB,FXC, FXC, FXY, FXS representing Swiss Franc, British Pound, Canadian Dollar, Japanese Yen, Euro, Swedish Krona.

You may ask, What good is this comparison chart?

At some point the distances between these plots will start to narrow based on the actions of the various governments and markets and whatever manipulations may occur in order for different currencies to gain or lose advantages.

We need only look at what has occurred in the past couple of weeks with the Swiss Franc, the Canadian Dollar and the Euro.

This next chart reflects the Relative Strength factor of the seven Etfs that I am using, you can see that FXF, Swiss Franc, is outperforming the other component currency ETFs and that is based on the sharp move generated by Swiss government intervention a few days ago.

How can we use this chart?

Interestingly enough, each government involved as well as the EU is attempting to capture markets and they are going to do their best to manipulate their own currency and any other currency to their advantage. Volatility in currencies as well as stocks is being created daily with the manipulations.

I gathered some information from Point and Figure charts at Stockcharts.com and am going to list the target prices for each of these currency ETFs. The numbers may surprise you.

FXF 151.00

FXB 210,00

FXC 84.00

FXY 62.00

FXE 86.00

FXS 82.00

USDX 128.00 (P&F target for UUP unavailable)

From those targets you can see huge differences from prices today, there will certainly be some activity as months pass. P&F targets are not guaranteed, I used them only as an illustration.

What can we use to take advantage of these pending moves. There are many choices , however UUP and UUD may be quite suitable for most people as those represent long and short respectively. Some may favor using the PowerShares 3x Long UUPt or the PowerShares 3x Short UDNT.

I have compared the four of these as follows.

Using Relative Strength factor for comparison is most useful for trade selection and also trade management and may add another dimension to your trading system.

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Currency Strategists Deutsche Bank Says to Buy Yen on BOJ Move - forex trading secrets amazon

Currency Strategists Deutsche Bank Says to Buy Yen on BOJ Move ~ forex trading secrets amazon

June 12 (Bloomberg) -- The yen will rise to its strongest since January 2005 in the next six months on prospects the Bank of Japan will boost borrowing costs at a faster pace than the Federal Reserve, according to Deutsche Bank AG.

The yen has gained 3.3 percent against the dollar this year on speculation the BOJ will lift its benchmark rate from near zero percent, while speculation is building the Fed is close to the end of its cycle of rate increases. Japans central bank cut overnight rates to zero in 2001 to combat deflation.

``The Fed is going to be on hold while the BOJ will continue to hike throughout the year, said Jens Nystedt, a currency strategist in New York at Deutsche, in a phone interview on June 9. ``The interest-rate differential going forward is going to favor the yen. I certainly want to be long, or buying the yen, he said.

From 113.97 per dollar at 5:27 p.m. in New York on June 9, the yen will rally to 102 per dollar by year-end, Nystedt predicts. It would be the strongest since 101.68 yen on Jan. 17, 2005. The yen reached an eight-month high of 109 yen on May 17.

Frankfurt-based Deutsche is the largest currency trader, according to an annual survey by Euromoney magazine.

Nystedt predicted the BOJ will boost its benchmark rate starting in July by a total of 0.75 percentage point by year-end. The Fed will lift its target a 17th straight time by a quarter- percentage point to 5.25 percent at its June 28-29 meeting and then pause, he said. The U.S. benchmark rate will only exceed Japans by 4.5 percent by year-end, he said.

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