Tuesday, Feb 24, 17:07 GMT
ASIA-PACIFIC Trading Newsletter
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- WEBINAR VIDEOS: My Favorite Patterns To Trade by Derek Frey
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: USD/JPY − Marked Bullishness Cracks Resistance by James Chen
Marked bullishness on USD/JPY, a daily chart of which is shown, has broken cleanly above the previously noted 94.50 resistance region, and has gone on to take out further resistance levels well above. This includes a key downtrend resistance line extending from the August 2008 highs.
Forex Trading Today: U.S. Consumer Cofidence Falls and the Yen Continues Falling by Tim Salem (CVJ)
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Expert: Mark De La Paz
Start: Wed, Feb 25, 10:00 GMT
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Main Fundamental theme in the Currency Market
Expert: John Kicklighter
Start: Wed, Feb 25, 14:00 GMT
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| Sponsored by | ||||
| Tue, Feb 24, 18:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, Feb 25, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Feb 25, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Wed, Feb 25, 14:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN | |
| Wed, Feb 25, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: U.S.
Support at 1.2720 gives way, the pair to test intra−week 1.2662
FXstreet.com − The EUR/USD decline has failed to stop at 1.2720 support level and the pair advances on its way down towards intra−week support level at 1.2662, giving away all the ground gained during Tuesday's European session rally. According to the Mataf.net Technical Team the Euro could find support above intra−week low.
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Momentum has turned bullish and a break above January's high at 141.55 by Mizuho Corporate Bank
Bursting through trendline resistance exactly at the point where the Ichimoku ‘cloud' becomes very thin. Price action since mid−December might also be seen as an inverse ‘head−and−shoulders' pattern the ‘head' being the drop to the record low at 119.00
Builds Up On Recent Gains by FXTechstrategy
Since resisting and holding above the 1.4137 level, its Feb 12'09 low on Thursday last week, the pair has been gaining nearer term momentum following through to the upside on Monday to close marginally higher at 1.4455...
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
Germany GROSS DOMESTIC PRODUCT S.A
| Date (GMT) | Event | Cons. | Previous | |
| Feb 25 | 07:00 | Gross Domestic Product n.s.a (YoY) | -1.6% | 1.3% |
| Feb 25 | 07:00 | Gross Domestic Product w.d.a (YoY) | -1.7% | 0.8% |
| Feb 25 | 07:00 | Gross Domestic Product s.a (QoQ) | -2.1% | -0.5% |
EMU economic indicators - A significant revision of German GDP in Q4 2008 is unlikely by BHF−Bank
The detailed breakdown of the components will show that investment in machinery and equipment has been a drag on overall GDP growth. Net exports have dampened GDP too, with exports decreasing more than imports. Furthermore, Destatis (the German Federal Statistical Office) has already said that private consumption has declined, but that changes in inventories have increased.
[ Full Story ]Top Market Movers Review
US CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 24 | 15:00 | Consumer Confidence | 25.0 | 36.0 | 37.7 |
US Conference Bd Consumer Confidence Hits Historic Low In Feb (Dow Jones)
U.S. consumer confidence levels collapsed in February, as households painted a dire picture of the economy. The Conference Board reported Tuesday that its February consumer confidence index fell to a historic low for the survey, at a reading of 25.0, from the previous low of 37.7 seen in December.
[ Full Story ]- Read the official data at The Conference Board
- CCB Consumer Confidence Survey−Historical (Dow Jones)
- U.S. Consumer Confidence Tanks to Record Low in February (CEP News)
- US Conference Board Consumer Confidence down to 25 in Feb from 37.7 in Jan (FXstreet.com)
US economic indicators - Consumer confidence indicators (Feb): no stabilisation in sight by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 24 | 15:00 | US | Fed's Bernanke testifies | |||
| 15:00 | US | Richmond Fed Manufacturing Index (Feb) | -51 | -48 | -49 | |
| 22:00 | US | ABC/Washington Post Consumer Confidence (Feb 22) | -49 | |||
| 23:50 | JP | Adjusted Merchandise Trade Balance (Jan) | -¥489.8B | -¥148.8B | ||
| 23:50 | JP | Merchandise Trade Balance Total (Jan) | -¥1179.5B | ¥320.7B | ||
| Feb 25 | 00:30 | AU | Construction Work Done (4Q) | -1.5% | 4.4% | |
| 00:30 | AU | Wage Price Index (QoQ) (4Q) | 0.9% | 0.9% | ||