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Trade Non- Farm Payrolls LIVE with Wayne McDonell - FXstreet.com, FX Bootcamp & Trade the News are partners of this event and GFT sponsors it. Don’t miss out on a great opportunity to learn keys to trade this economic report and ask questions while the market is moving!

Watch The Video From the NFP in January

FX Bootcamp provides live play by play commentary and analysis during the release of the Employment Report:

- Learn how to conservatively trade during news events.
- See technical analysis applied to live market charts.
- Apply Pivot Point & Fibonacci Theories in real-time.
- Entry and exits point clearly defined in advance.
- Ask questions while the market is moving.
- Get the NFP NEWS Live!

BONUS: Trade The News will provide their live audio news broadcast at this event. We will get the NFP # instantly!

SPECIAL PARTNERS of this 21st Edition:
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*** Mataf: www.mataf.net

U.S. dollar weakness was prevalent across the major currency pairs during today’s London session. Technical and fundamental analyses suggested that the EUR/USD was likely the pair most conducive to a significant continuation of the prior USD-driven moves. The euro did not disapppoint during the New York session. Traders who combined a conservative long trade entry with an exit at today’s M4 pivot point, earned a profit of between 50 and 75 pips (depending on entry).

Some quality moves began during the Asian session. One of these was the GBP/CHF which had moved a nice ways up already but not quite reached any technical targets. By using Fibonacci studies and multiple time frame moving averages, we were able to build a trade plan around a pullback. Sure enough we found an overlap of many moving averages at the 38.2 Fibonacci retracement of todays range. A long at this level either right on it or with short term time frame confirmation netted anywhere from 100-200 pips depending on exit strategy. Not to mention a couple reload opportunities later in the session, sweet move.

Tuesday featured a surprise intrameeting 75 basis point rate cut by the Federal Reserve. Yesterday saw hawkish commentary delivered by the leader of the European Central Bank. Today’s result: Up, up, and up for the EUR/USD. The entry zone for a long trade on the euro during today’s New York session was defined by the convergence of a Fibonacci retracement level and the 21 ema. The market’s subsequent move to two pivot point profit targets – first M4, then R2 – was classic.

After a large rise in the GBP/CHF all day yesterday we hung around the daily 5ema in a small range but with higher lows. We identified this S&R with a very slight ascending triangle and made trade plans before the break occurred.  The plan involved a reasonable expectation of profit at least to the overlap of the hourly 200 ema, Weekly central pivot point, 4 hour 55ema, 21.4 Fibonacci of the major recent down trend, and the 2.17 psychological level.  Well surprise surprise we mowed through all of that overlap in QUICK fashion which meant a one way ticket to todays m4 Pivot and another 100 pips to 218.  Depending on entry strategy selected members made anywhere from 150-250 pips with relative ease.  Just love the follow through.

Today’s U.S. news reports did little to faze the pound’s steep upward climb, which began during the London lunch. The most conservative entry and exit on the GBP/USD move during the first half of the New York session produced a 55-pip profit. It only got better from there, as a reversal on the EUR/JPY at an anticipated level of resistance opened the door to a short trade at the session’s midway point. Dovish commentary by a central banker further accelerated the drop of this yen cross. Traders who rode the move to today’s M1 pivot point hauled in an additional 175 pips.

The FX markets had quite a few trend continuation moves taking place throughout the Asian session. In this video however we search for and find a pair that had not yet completed it’s daily range, the ‘Loonie’ or USD/CAD. Based on watching the Oil commodity falling below $91 a barrel, you would expect to see USD/CAD to rise as the CAD loses value against the admittedly weak USD. Using mostly Fibonacci, and pivot levels we were able to plate a 40-50′ish pip trade plan revolving around the oil drop.

Francesc Riverola, CEO & Founder of FXstreet.com, posted a list released by the NFA on his blog.  You may read it here:http://weblog.fxstreet.com/2008/01/nfa-registered.html

Some of the firms that "shut down" are still in business.  This is because they merged with other larger firms who could meet the new NFA capital requirements.  This, IMHO, makes them a new entity.  Examples of this may be Royal and Xpress Trade.

Whatever may be the case, shut down or gobbled up, the NFA has taken steps to protect American investors and I welcome the oversite.  BRAVO NFA!

I also think "educators", "trainers" and "experts" should be regulated by the NFA.  This is why FX Bootcamp is a member of the National Futures Association and is registered as a Commodities Trading Advisor.  To do so, one must follow the NFA  guidelines, rules and most importantly, pass their tests.  Unfortunately, not many"experts" have done this… or can do it.  Hey… that CTA test was hard!

- Wayne McDonell, NFA Member & Registered CTA

This is a snap shot of Francesc’s blog post…

Registered Forex Dealer Members (as of December 21, 2007)
Advanced Markets Inc.
Bacera Corporation
Capital Market Services
CMC Markets US LLC
E FX Options LLC
Easy Forex US Ltd.
Forex Capital Markets (FXCM)
Forex Club Financial Company LLC
Friedberg Mercantile Group, Inc.
FX Solutions LLC
Gain Capital Group Inc. (FOREX.com)
GFS Securities and Futures, Inc.
Global Futures & Forex Ltd. (GFT)
Hotspot FXr, Inc.
I Trade FX LLC
IFSCL USA, Inc.
IFX Markets, Inc.
Interbank FX, LLC
MB Trading Futures
Money Garden Corporation
Oanda Corporation
ODL Securities Inc.
Peregrine Financial Group, Inc.
RJ O’Brien Associates Inc.

Forex Dealer Members Who Have Ceased Operations Since September 1, 2007
American National Trading Corp.
Direct Forex FX
Farr Financial Group
Forex Liquidity
Hamilton Williams LLC
One World Capital Group LLC
Royal Forex Trading LLC (Freedom FX LLC)
SNC Investments, Inc.
Solid Gold Financial Services, Inc.
XpressTrade LLC

A report today from the Department of Commerce revealed that U.S. retail sales dropped unexpectedly from November to December, sparking further dollar weakness across the four major currency pairs. Unfortunately, hopes of a 50-pip profit from a move by the EUR/USD to today’s M4 pivot point were dashed when the euro reversed at R1. Fortunately, the EUR/JPY provided traders who missed its earlier downward moves with a second chance at the midpoint of the session. Those who exited their short trade at the weekly S2 pivot point realized a net profit of about 60 pips.

After dropping in excess of its recent average daily range during today’s prior sessions, the USD/JPY found a level close to last year’s low. As the dollar yen was forming a double bottom, the EUR/JPY reached its M1 pivot point. Confirmation of the subsequent euro yen bounce on the 3-minute chart, coupled with correlation among the yen crosses, set the stage for a long trade entry before the start of today’s New York session. The 90-pip profit was a welcome exception to an otherwise slow session for the major currency pairs.