And another to consider is the EUR/AUD after the ECB

And another to consider is the EUR/AUD after the ECB

Whilst the Aussie dollar has been moving firmly higher for the AUD/USD and AUD/JPY, the EUR/AUD has also seen strong moves lower, but halted by the ECB yesterday.

00:19

Introduction to ECB press conference importance

00:19

The speaker explains that their mute button had moved unexpectedly and they are focusing on the Euro currency pair due to an important fundamental event. They highlight the significance of the ECB and Christine Lagarde’s press conference, emphasizing the importance of linking fundamental news to current forex trading decisions.

01:03

Central bank focus for currency pairs trading

01:03

The speaker emphasizes the importance of understanding the central banks behind the currency pairs traders are working with. This has been a recurring theme on their forex trading Facebook page and is a key recommendation in their trading program. The focus this week is on the significance of central banks in forex trading.

01:36

Key economic events affecting Aussie and Euro

01:36

The speaker discusses the importance of monitoring key economic events such as the RBA interest rates at the start of the month, Chinese economic data, and the ECB announcements, which do not occur every month but are significant when they do. They emphasize that even if you don’t trade Forex, you should pay attention to these events by consulting economic calendars and reviewing upcoming data releases for the week.

02:07

Using charts and volatility for fundamental news

02:07

The speaker discusses the importance of considering earnings data and fundamental news when trading stocks. They recommend using a 30-minute chart to review price action around high-impact news releases, noting that not all expected high-impact events cause significant market movement. Beginners should start by observing the market’s reaction to various economic indicators like the Philly Fed reports, Federal Reserve announcements, and FOMC minutes. Monitoring volatility during these times is crucial for understanding market behavior.

03:12

Volatility indicator benefits and usage

03:12

The speaker discusses a volatility indicator priced at $57, emphasizing its value for traders as it triggers in real time, helping to understand price action during significant market events. They then shift focus to analyzing the Euro/Aussie currency pair on different chart time frames, noting that the indicator is best suited for faster charts and proceeds to review the daily chart, highlighting an upcoming important news release.

04:18

Analyzing euro chart before ECB event

04:18

The discussion focuses on the impact of the ECB interest rate decision and press conference on the euro. The speaker highlights a notable candlestick pattern indicating strong market movement and significant buying interest around the 1.6 level, a psychologically important round number. This buying activity suggests a potential bullish bias ahead of the event.

05:28

Support levels and volume analysis on Euro Aussie

05:28

The speaker analyzes the euro’s price action by examining multiple timeframes, including daily, weekly, and monthly charts. They highlight the 1.6 level as a significant support point, reinforced by the volume point of control, indicating a strong platform. Anticipating the market reaction to a key news event, the speaker notes the formation of a hammer candle, suggesting potential support. Following the news, the euro’s price moved upward as the market responded positively to encouraging comments, validating the prior technical analysis.

06:39

Aussie weakness and Euro strength confirmation

06:39

The speaker reviews multiple charts on a single profile, focusing on a 10-minute matrix view that reveals heavy selling pressure on the Australian dollar (Aussie). The analysis highlights that the Aussie is among the weakest currencies, particularly against the Swiss franc and the euro, with evidence of traders buying euros and selling the Aussie, indicating a generally negative outlook for the Australian dollar at this time.

07:13

ECB reaction on short-term charts explained

07:13

The analysis begins on a 3-minute chart, highlighting market reactions such as knee-jerk moves, fades, and sideways consolidations before the original move resumes. The initial move discussed was an upward trend confirmed by a hammock handle pattern and increased volume, which is also visible on the daily chart. The likely next step is a retest of a key level at 66.38, with an intermediate stopping point around 63.83 on the 10-minute chart. The euro appears somewhat overextended, while the Australian dollar shows potential to move lower, possibly reaching the R4 level. The price has broken through several support and resistance levels, including the S6, before pulling back.

09:00

Trading levels and indicators for short timeframes

09:00

The speaker discusses key price levels expected to hold for the rest of the week, advising traders to retest these levels to anticipate potential upward movement. For those trading on fast time frames, tools like Renko charts on MT5 are recommended, along with indicators such as trend dots and trend monitors for spotting entry points. A good entry is identified when the trend dot changes to blue and the trend monitor shows a bright blue signal. The speaker also emphasizes the importance of analyzing these charts alongside time charts to identify congestion phases and trend pauses, aiding in the decision to enter or exit trades.

10:11

Trend and congestion phases in Renko charts

10:11

The speaker discusses the Renko and VP8 indicators signaling a higher trend despite volatility and congestion phases. They highlight that the trend began after a congestion period around 62 AC and note signs that the market may be entering another congestion phase. The analysis includes referencing different time frames, such as hourly and 10-minute charts, and mentions that UK markets are quieting down around this time. The presentation involves multiple monitors and time frames, which makes the analysis appear fragmented but comprehensive.

11:49

The speaker addresses technical limitations of the webinar technology affecting the presentation format. They briefly acknowledge audience interaction by responding to a comment and confirm that all questions have been answered. The discussion returns to the gold chart for further analysis and review of earlier points.

12:04

Gold chart analysis and volatility triggers

12:04

The speaker discusses a bullish market condition characterized by increasing price levels and significant volume activity. They highlight the appearance of a volatility trigger and explain that while the exact market direction is uncertain, the overall trend remains upward. The Trend Monitor tool is introduced, showing volatility indicators across multiple time frames—specifically on the 3 and 5-minute charts, but not on the 10 or 15-minute charts—emphasizing the importance of monitoring different time scales to understand market dynamics fully.

12:56

Trend monitor indicator and market phases

12:56

The speaker explains how faster time frames can signal potential market congestion, emphasizing the importance of not stressing but expecting these phases. They illustrate this with an example of volume price analysis (VPA), showing falling volume and falling selling volume, which typically indicates a bullish market trend. The trend monitor shows a transitional phase where momentum slows but does not fully reverse, highlighting the indicator’s ability to keep traders in their positions through minor reversals and pullbacks. Using the indicator across multiple time frames can significantly enhance trading performance and maximize profits. The segment concludes with a brief note on accessing all indicators, including the volatility indicator, at an affordable price.

14:24

Overview of available trading indicators and platforms

14:24

The speaker discusses pricing and availability of trading tools priced at $57, accessible on platforms like MT4/5, NinjaTrader, and TradingView. They explain ongoing work with TradeStation, highlighting two versions: TradeStation 9.5, which integrates with Interactive Brokers for discounted trading, and TradeStation 10, featuring TradeStation Securities combined with the powerful RadarScreen scanning system and numerous indicators. After completing TradeStation integration, they plan to return to TradingView to enhance the indicator suite with new language features including object and line drawing.

Future plans include launching MultiCharts and possibly exploring other platforms such as Think or Swim.

15:45

Quantum Trading education program details

15:45

The speaker describes a comprehensive forex trading program available at quantumtradingeducation.com, highlighting its extensive content which includes 13 detailed PDF downloads and over 200 videos covering technical analysis, fundamentals, trading psychology, and trading mechanics. The program also features a large webinar library that integrates various topics and indicator usage. Additionally, members have access to a private chat room staffed daily by the hosts and experienced traders who provide support and share insights. The program is backed by a seven-day money-back guarantee and includes access to Anna’s analyses and books available on Amazon. The session concludes with thanks to the audience for their participation.

17:10

Session closing and upcoming schedule

17:10

The speaker informs viewers that the next Forex session will resume on Tuesday at 7:45 London time. They note that the VIX is decreasing, which may lead to a rise in equities. The segment ends with well wishes for the rest of the trading session, the following day, and the weekend.

By Anna Coulling – creator of volume price analysis