The John Elfed Forex Blog

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Live trade.

Tuesday 30 January: European session.

Monday 29 January. FOMC,BOE,NFP & earnings on the agenda.

Weekly review.

I found the week starting Monday 22 January another difficult week in terms of desiphering the fundemental cause of the moves in the Forex market. On Monday it was a case of waiting for Tuesday's BOJ meeting. The meeting didn't surprise with no change in policy.

Live trade.

Thursday 25 January. Market close.

There was a lot of information to digest from today's market, and ultimately, I couldn't form a strong enough conviction to place a trade. US GDP was reported better than expected, which in theory is dollar positive and my initial thought was for the USD to

Trade closed manually before ECB decision and today's data.

Reasoning behind today's trade.

Live trade.

Wednesday 24 January.

Yesterday's JPY price action is a good example of how powerful 4hr support and resistance can be. The initial strength following the press conference couldn't close below support and the subsequent reversal couldn't close above resistance. (As I write this USD JPY is having

Assessing the BOJ.

BOJ meeting. What am I looking for?

The week ahead.

Psychology lesson: When is the best time to trade?

Weekly review.

Friday 19 January.

During the overnight Asian session, CPI data from Japan was reported lower than expected, which backs up the recent JPY short 'interest rate differential' trade. Although the CPI release was subsequently followed by the finance minister commenting that the BOJ are watching currency moves closely, and so the

USD JPY in focus.

With today's jobless claims data coming in better (lower) than expected, this only adds to the narrative of the US cutting rates later (I've read an article today suggesting the first cut could come in june- if you remember, only last week, 'the market'

Live trade.

Live trade

Tuesday 17 January.

A combination of weakish data from china and a rate cut pushback narrative from Europe and the US continues to keep risk sentiment tepid. The dollar strength from yesterday has continued and the JPY is the standout weak performer in correlation with rising yields. It is difficult to envision this

Live trade

Waiting for Waller.

Fundamental 4 step strategy, part 4.

Monday 15 January.