Thursday, Jul 24, 16:12 GMT
ASIA-PACIFIC Trading Newsletter
Featured
Featured Forex DVDs
FXstreet.com DVD Series − Support and Resistance Trading by Rob Booker and Dave Murphy
In this 2−DVD set, Rob Booker and Dave Murphy guide you through the powerful and easy−to−use trading techniques that have made their FXstreet.com blog one of the most popular forex blogs on the web. Step−by−step, you will learn to set up trades on any currency pair, on any time frame chart. All the trading setups that you will learn come with examples, and full descriptions of why the setups work.
To Get Started
- FXstreet.com International Traders Conference: Early Bird Discount extended until July 31st! Register before it's too late.
- Webinar Videos: Trading the Summer Months by Adam Rosen
- Forex Basics: Trading reports for beginners
- Analyst Comments: Opinions from the pros
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Support and resistance posts
FX Path: Support and Resistance − Which Method is Best? by James Chen
The Advisor Weblog: How to determinate supports and resistances by Valeria Bednarik
Postcards from the Right Edge: Complete Guide to Support and Resistance Trading by Rob Booker
Live Sessions Schedule
The Forex Basic Training Program − Chapter V
Expert: Wayne McDonell
Start: Fri, Jul 25, 08:00 GMT
Type of Session: Webinar
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Jul 28, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 25, 08:00 GMT | The Forex Basic Training Program − Chapter V | Wayne McDonell | WBN |  |
| Fri, Jul 25, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN | |
| Fri, Jul 25, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Fri, Jul 25, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Jul 25, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
Current Session: U.S.
EUR/USD
Mid−Day Forex Technical Report − EUR/USD Recovers Earlier Losses after US Existing Home Sales Missed Expectation by ActionForex.com
EUR/USD recovers after dipping lower to 1.5638 earlier today. Nevertheless, outlook remains unchanged for the moment. Further decline cannot be ruled out at this point. But still, fall from 1.6038 is treated as a correction to rise from 1.5302 only as long as 1.5611 support holds. Above 1.5797 minor resistance will indicate that such correction could have completed and turn intraday bias back to the upside.
- EURO and GBP expected moves by Dr. S. Sivaraman, of i−knowindices.com
- Support and Resistance Trading DVD by Rob Booker. Discover his powerful trading strategies and techniques!
- Using fibonacci retracements to identify support and resistance by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Currency Technical Report − Currency Technical Report by FXGreece
Foreing Exchange − Euro: Outlook remains the same as yesterday as long as it stays below 1.5797 today by Avantage Financial GMBH
Daily Forex News − Forex − Dollar rallied on Wednesday supported by drop in Oil prices by ACM − Advanced Currency Markets
Weekly Outlook
Weekly Forex Focus by Trading Central
FX Analysts' Blogs
GBP/USD Thursday Morning (NY) Update by James Chen, Chief Technical Analyst, at FX Solutions
Currencies at a Glance
- EUR/USD
- Trades below opening price level 1.5695 , below pivot level 1.5721
07/24/2008 15:38 GMT - GBP/USD
- Trades below second support level 1.9845
07/24/2008 15:38 GMT - USD/CHF
- Continues to trade around opening price level 1.0376 , above pivot level 1.0354
07/24/2008 15:38 GMT - USD/JPY
- Moves down below pivot level 107.67
07/24/2008 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
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Cons. | Previous | |
| Jul 25 | 08:30 | Gross Domestic Product (QoQ) | 0.2% | 0.3% |
| Jul 25 | 08:30 | Gross Domestic Product (YoY) | 1.6% | 2.3% |
Friday Notes - We expect Q2 GDP to have grown 0.3% q−o−q by HVB Group
We expect Q2 GDP to have grown 0.3% q−o−q. The strong reading for May retail sales points to a still decent performance of private consumption, which should have underpinned GDP growth in Q2. We see investment contracting further, while net export contribution should have been positive. Still, the plunge in both the manufacturing and services PMI, coupled with a weaker−thanexpected IP, points to downside risks to our call.
[ Full Story ]Top Market Movers Review
US EXISTING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 14:00 | Existing Home Sales | 4.86M | 4.94M | 4.99M |
| Jul 24 | 14:00 | Existing Home Sales (MoM) | -2.6% | -1.0% | 2.0% |
US Jun Existing Home Sales Dn 2.6% To 4.86 Mln Rate (Dow Jones)
Existing−home sales resumed falling in June and the median price also dropped as inventories crept higher.
[ Full Story ]- Existing−Home Sales Down In June at National Association of Realtors
- Forex − Euro fails to hold onto gains vs dollar after weak U.S. housing data (Thomson Financial News)
- US Existing Home Sales−STATS (Dow Jones)
- US June existing home sales down 2.6 pct to 4.86 mln rate, a ten−year low UPDATE (Thomson Financial News)
Mid−Day Forex Technical Report − EUR/USD Recovers Earlier Losses after US Existing Home Sales Missed Expectation by ActionForex.com
US economic indicators - We expect existing home sales slightly higher at about 5.0m by BHF−Bank
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 12:30 | Continuing Jobless Claims | 3107.0K | 3.2K | 3122.0K |
| Jul 24 | 12:30 | Initial Jobless Claims | 406K | 380K | 372K |
US initial jobless claims increase above expectations in Jul 19 week (FXstreet.com)
Employment offices in the United States have registered a larger than expected increase in the total volume of laid−off workers applying for their jobless benefits for their first time, according to data released by the US Department of Labor.
[ Full Story ]- Weekly claims report at US Department of Labor
- US weekly jobless claims rise 34,000 to 406,000 (Thomson Financial News)
- Dollar's Ascent Challenged By US Jobless Claims Data (Dow Jones)
- US Jobless Claims +34K To 406K In Jul 19 Week; Survey +14K (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 24 | 14:00 | US | Existing Home Sales (Jun) | 4.86M | 4.94M | 4.99M |
| 14:00 | US | Existing Home Sales (MoM) (Jun) | -2.6% | -1.0% | 2.0% | |
| 23:30 | JP | National Consumer Price Index (YoY) (Jun) | 1.9% | 1.3% | ||
| 23:30 | JP | National CPI Ex Food, Energy (YoY) (Jun) | 0.0% | -0.1% | ||
| 23:30 | JP | National CPI Ex−Fresh Food (YoY) (Jun) | 1.8% | 1.5% | ||
| 23:30 | JP | Tokyo Consumer Price Index (YoY) (Jul) | 1.9% | 1.5% | ||
| 23:30 | JP | Tokyo CPI ex Food, Energy (YoY) (Jul) | 0.4% | 0.3% | ||