Tag Archives: Currensee Widget Gallery

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In this guest post, Currensee welcomes Tim Mazanec, CMT, a 14 year veteran of the foreign exchange and global markets.  Tim combines technical, fundamental and flow analysis to develop his forecasts and Forex trading decisions.

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Monday marked the 3rd consecutive Monday that US equities opened the week on a strong note with the last two Monday’s seeing a surge in equity prices. Currency traders are well versed though that EUR/USD has only partially kept pace as it continues to trade around the 1.50 level. This begs the question of whether or not we are starting to see a divergence between traders in the stock market and in the currency market?

A quick check on Currensee on Monday afternoon shows that 61% of EUR/USD traders remain Short this pair. Their average entry price is 1.48323 stating that they expect this upward move in risk-taking to dissipate. If you take a look at one of the stock market bell-weathers, GE, you’ll find that there was a 7% decrease in shorts this past week. So at first glance there is a divergence in what Currensee and equity traders are thinking.

Those not willing to be long EUR/USD or those that are more risk averse have more than a few economic indicators that they can point towards to support their case. These can be found easily enough on Currensee’s Economic Calendar on the Research Dashboard. Consider last week’s US Treasury budget. Within the budget it shows the monthly federal withholding taxes that are deducted from everyone’s paycheck. The beauty of this figure is that it is an actual figure. It is not derived from a survey and not subject to revisions and/or changes in benchmarks. The data shows that individual tax receipts were down 22.2% y/y in October. That is the lowest monthly figure since May 2004. Normally the months of Sept. & Oct. are "incoming" season for the Treasury due to tax extensions but when comparing this Sept/Oct to last year it was even worse at -30% y/y.

Of course these figures more closely resemble the current 10.2% unemployment rate rather than the improved NFP figures. That said the US economy remains reliant on the consumer after all and less income (lower taxes points to less income) and fewer jobs may equate to a subdued economy ahead.

As we alluded to though more a few traders, especially equity traders are a little more bullish. If the global economy is getting better then more investors may not only be willing to put risk back on but also go back into the buy-and-hold strategy that we used to be accustomed to. If you go back to the Economic Calendar on Currensee’s Research Dashboard you’ll notice more than a few economic indicators that are due this week. They range from CPI/PPI to Capacity Utilization midweek before finishing off with the latest Leading Indicators and Jobless claims. Improved economic figures may help build confidence for equity traders to remain long ahead of potential profit-taking season.

Of course Bernanke threw his 2 cents in on the dollar on Monday but that was literally it as within his 6 page speech there were literally 2 sentences that touched on the Dollar. Not exactly enough to frighten one out of a position either way. Very much overshadowed by Bernanke was Bank of England’s Sentence, who suggested that ‘the impact of (their) interest rate cuts are only just being seen’. You could have seen this on the Thomson Reuters IFR squawk Box (that can be found in the Currensee Widget Gallery) as his suggestions would have been harder to notice without this widget.

Either way there are enough arguments on both sides of the debate to keep bulls in one corner and bears in the other.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

I wish I had the time to go to my local fishmonger for my Dover sole and the baker for my fresh baguette for dinner this evening.  Instead I need to go to the supermarket and some weeks I have it all delivered so that I can get everything I need for a whole week from one place.  Think of the Currensee dashboards in the same light.  There are three dashboards - one for trading, one for research and one for fun and community. It is one stop shopping for the information, analysis, and real time trade information needed to make the most informed trading decisions every trading day.

The trading dashboard hold all of the key information that Currensee provides to make your trade decisions - your position table that contains all of the detailed trading information of your mates’ trades and the social indicators and price charts that tell you what the rest of the community and the market is doing in real time as well as a friends feeds that is a minute by minute update of trades and posts being made by your friends in the community.

Currensee Trading Dashboard

The research dashboard holds all the key financial information in one place so that you do not have to go the baker’s website to learn about what’s heating up on the Euro. News is available from your favorite sources like CNN, the BBC, Reuters, etc., various charts on the correlations you may be interested in on the S&P, gold or other commodities.  RSS feeds of the best commentary you like to read from the most insightful websites right there at  your fingertips

Currensee Research Dashboard

To customize each of these dashboards you can simply pick from  the extensive widget library which is growing all the time to pick and choose and drag and drop to a location on your dashboard that makes the most concise and useful presentation for your daily trading analysis.  And when it is time for a break, the fun and community dashboard has a link to your popular IM tools, Skype for quick conversation with your friends about your positions, or a link to your Facebook page to catch up on all your buddies that are missing out on all the fun of trading on Currensee.

Currensee Fun and Community Dashboard

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

What better way to end July than with an exciting and innovative release? The Currensee Team has been busy taking the product to the next level and we’re happy to launch the following new features to the platform today.

Fully Customizable Dashboard

Want to get all of your Forex trading information in one place? Our new Dashboard is paving the way to help you reach that goal. You’ll be able to choose the components that you want to see on your personalized Currensee dashboard. Want to see specific news in one place and your positions table in another? No problem, just click and drag it to where you want it.

Market Watch Improvements

We made a series of performance enhancements to our social indicators Market Watch hover and added win-loss indicators to show where the community stands against a particular currency pair.

Widget Gallery

From Forex to news to fun and games, you’ll be able to choose which widgets are displayed on your dashboard. We’ve even built three different dashboards for you to customize so you can separate the information and view it in a way that’s just right for you.

Community Volatility Widget

We’re excited to introduce the first community-powered Community Historical Volatility Widget. This rich new widget gives traders who use Support and Resistance the ability to analyze historical, community-based volume - all based on real-time price points. We look forward to getting your feedback on this one-of-a-kind widget.

New Interactive Features

You’ve asked for richer community content and we’re delivering. Now, in addition to the discussions that have been available, discussions can be categorized, commented on and given ratings by users in the community. We also added the ability to create community polls. What to know if the community thinks the USD is about to fall off a cliff? Poll them! It’s quick and easy to use.

That's all for now. We’re heading to Vegas in a few days for the Forex & Options Expo and looking forward to drawing our lucky $1,000 winner. In the meantime, thanks for your continued feedback. We hope you enjoy what you see in this new release.

Happy Trading,

The Currensee Team

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.