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Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jun 18, 10:00 GMT
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| Sponsored by | ||||
| Tue, Jun 17, 16:00 GMT | The Day Trading Coach − Tips, Tricks and Strategies for Day Traders  | Markus Heitkoetter | WBN |  |
| Tue, Jun 17, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Wed, Jun 18, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jun 18, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jun 18, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: U.S.
USD/CHF
Mid−Day Forex Technical Report − Dollar Recovers Mildly, Sterling Tumbles by ActionForex.com
USD/CHF's retreat was contained at 1.0375 and recovers mildly since there. Though, further decline could still be seen as there is no confirmation of the fall from 1.0539 yet. Nevertheless, as long as 1.0301 support holds, rise from 1.0147 is still expected to extend further. As discussed before, prior break of inner falling trend line as well as 1.0526 resistance indicates that fall from 1.0623 has completed with three waves down to 1.0147.
- Dan Blystone's Daily Briefing − Webinar
- Expert trading comments on latest moves at The Advisor Weblog by Valeria Bednarik, Analyst at MolFX − Management
- The Forex Game: Stop Losing Dollars... Win Duellars!
- Combining Fundamental and Technical Analysis S. Wade Hansen, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the Real Time Economic Calendar
Other Topics for this Session:
Market Session Recaps − London Session by FOREX.com
Daily Analysis − Dollar returns to its negative trend by Finotec Group Inc.
Technical Summary for Majors − Technical Summary for Majors by Windsor Brokers Ltd
Banks' Analysis
One year outlook for GBP − One year outlook for GBP by Mizuho Corporate Bank
Currency Performance
Currency Performance Report − Europe Session Performance by FXstreet.com
FX Analysts' Comments
GBP quick drop a Part of volatile move condition... by Dr. S. Sivaraman, of i−knowindices.com
Break out set up on EURJPY − follow up by Phil Newton, Developer of Trading Strategies at TradingStrategies.info
Currencies at a Glance
- EUR/USD
- Trades above opening price level 1.5476 , above pivot level 1.5446
06/17/2008 15:36 GMT - GBP/USD
- Trades around first support level 1.9498
06/17/2008 15:37 GMT - USD/CHF
- Trades around pivot level 1.0448
06/17/2008 15:37 GMT - USD/JPY
- Trades below pivot level 108.23
06/17/2008 15:38 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
EMU CONSTRUCTION OUTPUT S.A
| Date (GMT) | Event | Cons. | Previous | |
| Jun 18 | 09:00 | Construction Output w.d.a (YoY) | - | -1.4% |
| Jun 18 | 09:00 | Construction Output s.a (MoM) | - | -2.2% |
Multi TimeFrame Market Outlook: EURUSD by WFXAdvisor
Rejection from weekly consolidation triangle high has been effective as last week closed below triangle low.. Expected trading range for coming weeks extends from 1.5260 to 1.5770.
[ Full Story ]Top Market Movers Review
US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 17 | 13:15 | Industrial Production (MoM) | -0.2% | 0.1% | -0.7% |
| Jun 17 | 13:15 | Capacity Utilization | 79.4% | 79.7% | 79.6% |
DATA SNAP: US May Industrial Production −0.2%; Consensus +0.2% (Dow Jones)
U.S. industrial production slumped for the second straight month in May as the nation's utilities posted a sharp drop in output, the Federal Reserve said Tuesday. Industrial production sank 0.2% last month, following an unrevised 0.7% decline in April.
[ Full Story ]- Read the Industrial Produtcion data at Federal Reserve
- U.S. May industrial production down 0.2%, capacity utilization 79.4% (Thomson Financial News)
- ECONOMIC REPORT: U.S. May Industrial Output Down 0.2% (Dow Jones)
- U.S. May industrial production down 0.2%, capacity utilization 79.4% (Thomson Financial News)
Daily Forex Technical Report − An Eventful Day with UK CPI, German ZEW and US Data by ActionForex.com
US PRODUCER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 17 | 12:30 | Producer Price Index (MoM) | 1.4% | 1.0% | 0.2% |
| Jun 17 | 12:30 | Producer Price Index (YoY) | 7.2% | 6.7% | 6.5% |
| Jun 17 | 12:30 | Producer Price Index ex Food & Energy (YoY) | 3% | 3% | 3% |
| Jun 17 | 12:30 | Producer Price Index ex Food & Energy (MoM) | 0.2% | 0.2% | 0.4% |
DATA SNAP: US PPI Jump Signals Rising Inflation Pressures (Dow Jones)
U.S. producer prices soared in May at their fastest pace in six months, a government report showed, led by higher energy and food prices while pressures accelerated deeper in the production pipeline, a sign inflation remains a threat.
[ Full Story ]- Read the PPI data at Labor Department
- US May PPI up 1.4 pct, fastest pace since Nov 2007; core PPI up 0.2 pct (Thomson Financial News)
- US PPI increases above expectations in May, driven by food and energy (FXstreet.com)
- US Producer Price Index increase 1.4% in May; ex food and energy, 0.2% up (FXstreet.com)
US HOUSING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 17 | 12:30 | Building Permits (MoM) | 969K | 960K | 982K |
| Jun 17 | 12:30 | Housing Starts (YoY) | 0.975M | 0.980M | 1.008M |
DATA SNAP: US May Housing Starts Fall 3.3% (Dow Jones)
Housing starts fell 3.3% to a seasonally adjusted 975,000 annual rate, the Commerce Department said Tuesday. Meanwhile, April housing starts were revised to a rate of 1,008,000, representing a 2.0% climb over March. Initially, April housing starts were seen 8.2% above the March estimate.
[ Full Story ]- Read the Housing data at Census Bureau
- US May housing starts fell 3.3% to a 975,000 unit rate, lowest since 1991 UPDATE (Thomson Financial News)
- US housing starts decline 3.3% in May (FXstreet.com)
- CORRECT: US Housing Starts Were Expected To Fall 5.5% In May (Dow Jones)
Daily Forex Technical Report − An Eventful Day with UK CPI, German ZEW and US Data by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 17 | 13:15 | US | Capacity Utilization (May) | 79.4% | 79.7% | 79.6% |
| 13:15 | US | Industrial Production (MoM) (May) | -0.2% | 0.1% | -0.7% | |
| 21:00 | US | ABC/Washington Post Consumer Confidence (Jun 15) | -45 | |||
| 23:50 | JP | BoJ Minutes | ||||
| Jun 18 | 00:30 | AU | Westpac Leading Index (MoM) (Apr) | 0.2% | ||
| 05:00 | JP | Coincident Index (Apr) | 30% | |||
| 05:00 | JP | Leading Economic Index (Apr) | 18.2 | |||