Newest Forex Volume Report Released
March 25, 2006
Open interest dropped across the board this week except in the Australian dollar.
Canadian Dollar 
Big swing from NET LONG to NET SHORT
Swiss Franc
Very Bearish. 50,327 Short positions vs. 3,462 Long positions
British Pound
18,418 Short positions, 13,183 Long positions
Japanese Yen
Decrease of 17,632 short positions. Still Bearish
USD Index 
Decrease of 7,196 long positions. Still bullish with 11,114 Long positions and 4,491 Short positions
Euro
EURO remains Bullish with another decrease this week in Short positions (-10,149)
New Zealand Dollar
Less Bullish than last week with decrease of 688 long positions and increase of 178 short positions
Australian Dollar
Bearish. Increase of 15,455 Short positions on increasing open interest.
Crude Oil 
Less open interest than last week with an almost equal balance of long (128,840) to short (135,177) positions.
Popularity: 4%
Week 15 performance
March 17, 2006
This week was my 4th straight losing week. I lost $1220 this week which drops my overall profit over 15 weeks to $1243. Even though my P/L isn’t looking good as of late, I really am not discouraged. I have the confidence and determination to continue onward and I have the belief that I will be successful. I am just going through the stages of learning and if it costs me money to learn, so be it.
This week I used my first self designed trading system and followed through on every signal it gave me. Unfortunately it is a range trading system and the EURO had some pretty nice gains against the dollar this week. Therefore, my trading system did not perform well. I will continue to use it. I will stick by my hours upon hours of work.
Popularity: 2%
March Issue of Currency Trader Magazine
March 4, 2006
After all of our comments regarding the lack of substance regarding ichimoku chart analysis, the March issue of Currency Trader Magazine fills the gap. There is a 6 page article, "Demystifying Ichimoku analysis." I'm looking forward to reading it. In addition, the new issue contains:
-Dollar Bull: Can the buck stay a step ahead of pundits?
-Japanese Yen: Marching to its own drummer
-Currency Basics: All about the interbank
-Currency System Test of the Trend Strength Indicator
Content Removed: Download from http://www.currencytradermag.com
Popularity: 1%
DashboardFX: Forex Weekly Wrap-up
February 17, 2006
EUR/USD
A virile run mid-morning at the session close, as market participants drove the dollar down to near session lows of 1.1945. When all was said and done a tight range of 1.1845/1.1955 was fashioned in the major European counterpart and the benchmark currency.
What is interesting to note regarding this week’s price action relative to the previous is that we have two ranges with one large move lower separating them. That coupled with the cresting off the benchmark S (former R) in the 1.1860 area, which has stymied those bidding the dollar on many occasions in the life of the pair, implies perhaps a solid base pattern of an inverted H&S is in the process of developing with the head all but confirmed on today’s rally in the pair. The moment of truth for the pattern comes in on the break back into last week’s range followed by a failure to trade through it – thus drafting the second shoulder. We have cited the major R above as the top end of the shoulder range.
GBP/USD
Sterling dealers and traders alike have noted vehemently the significance of the MPC minutes slated for next Wednesday. A prominent reporter in the UK feels an admonishment of a 5-4 split in the minutes could strongly imply a 25bp hike is in the shoe.
As we noted yesterday, “…with such a wide swath these orders clearly have rather lofty targets or expect to average in with size on forays below 1.7340/50. Irrespective, the activity has garnered attention…” regarding some purported dealer’s activity and it turns out that our summation was incredibly predicative given the proceeding 24-hours of pricing.
USD/CHF
With no front page news regarding geopolitical unrest, it seems unlikely that the pair will style any type of meaning retracement of the overt trend. However, we know better to presume the two cannot take place simultaneously, perhaps exacerbating a strengthening in the Swiss franc and weakness in the dollar.
Some clear top patterns have emerged; but the pair continues to make new highs and the patterns are somewhat eschew. As we noted recently, “…The drop from the major R we noted in yesterday’s report was rather precipitous and could be ominous indication of more selling pressure to come. Yesterday daily low of 1.3040/45 will be the moment of truth for those attempting to break the overt trend…” and it seems this statement is rather accurate given the resulting price action.
USD/JPY
The pair continues to rally following our call on the significance of the 1700 figure. Session highs were recorded at 118.87 following Thursday’s rollover. It has come in a bit however, leaving a tall wick behind in the vicinity of macro R. this could be a tell tale sign of some virile selling as specs unwind what have now become very large positions.
Popularity: 3%
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