Monday, Jul 06, 16:01 GMT
ASIA-PACIFIC Trading Newsletter
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- Learning Center: New chapter online: Fundamental Analysis. Read it now!
- WEBINAR VIDEOS: Trading Break Out's And Other Market Views by Phil Newton
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: EUR/JPY − Breakdown of Key Trendline by James Chen
Price action on EUR/JPY, a daily chart of which is shown, has started out this week with what is looking like a breakdown below a very important uptrend support line extending from the late January lows. This trendline has been respected in a precise manner at least eight times since its inception, so it was an exceptionally valid trendline before today's breakdown.
The advisor Blog: Wall Street down yen up by Valeria Bednarik
Forex Trading Today: U.S. Equity Futures bidding Lower as The Dollar Continues with Strength by Tim Salem
Sponsored by 
Live Sessions Schedule
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Mon, Jul 6, 22:30 GMT
Type of Session: Webinar
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Tue, Jul 7, 05:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jul 6, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Mon, Jul 6, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN |  |
| Tue, Jul 7, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Tue, Jul 7, 06:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
| Tue, Jul 7, 09:00 GMT | Trading the Harmonic patterns  | Sunil Mangwani | WBN |  |
Current Session: U.S.
U.S. Update: The art of easing optimism
FXstreet.com Independent Analyst Team − Optimism fading and stocks falling send yen up across the board. General sentiment remains dollar (and yen) positive today, due to it's safe haven condition. S&P continues unable to regain the 900 level, while DJIA barely holds above 8200. Expect limited corrections before dollar next bullish run. GBP/USD breaks under 20 SMA Daily accelerate the downside in the pair, that breach briefly under 1.6100 before starting an upside correction. Now fighting the base of past weeks range around 1.6200, daily charts remain quite bearish, suggesting more downside pressure in the days to come.
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Oil
Daily Oil Prices by Master The Markets
Friday's candle on the daily oil chart was significant for one reason, and one reason only, in that the close of the day finished below the 40 day moving average suggesting that the oil bears are now firmly in control of the oil market and the rally of the last 2 months has now stalled completely.
USD/JPY
USD/JPY: Watch for a break under 94.85 by Valeria Bednarik
Approaching to 95.00 zone, hourly charts remain bearish with bigger time frames also supporting more selling pressure. 20 SMA above actual price and with a nice bearish slope support the bias.
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
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| Jul 7 | 08:30 | Industrial Production (MoM) | 0.2% | 0.3% |
| Jul 7 | 08:30 | Manufacturing Production (YoY) | - | -12.7% |
| Jul 7 | 08:30 | Industrial Production (YoY) | - | -12.3% |
| Jul 7 | 08:30 | Manufacturing Production (MoM) | 0.1% | 0.2% |
Friday Notes - UK, Industrial Production: Industrial recession is easing by UniCredit Group
Different surveys of manufacturing activity marked a significant improvement over the last few months, strong evidence that the worst of the industrial recession may be behind us. Still, at the current level, the surveys remain consistent with further production cuts in Q2. In particular the PMI, our best gauge of the manufacturing output trend, suggests that, following a modest increase in April, manufacturing (and total) production should contract by 0.5% m−o−m in May.
[ Full Story ]Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 6 | 14:00 | ISM Non−Manufacturing | 47 | 46 | 44 |
DATA SNAP: US ISM Jun Non−Manufacturing Index Rises To 47.0 (Dow Jones)
[ Full Story ]- Read the Non−Manufacturing data at the ISM
- UPDATE: DATA SNAP: US ISM June Non−Manufacturing Index Rises To 47.0 (Dow Jones)
- US ISM Non−Manufacturing up to 47 in Jun from 44 (FXstreet.com)
The Week Ahead - The ISM non−manufacturing index is expected to increase for the third month in a row by BBVA Bancomer
Sunrise Market Commentary - Thin eco calendar puts focus on US supply by KBC Bank
Friday Notes - ISM Non−manufacturing: Services sector purchasing managers less gloomy by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 6 | 08:30 | EMU | Sentix Investor Confidence (Jul) | -31.3 | -25.0 | -27.0 |
| 14:00 | US | ISM Non−Manufacturing (Jun) | 47 | 46 | 44 | |
| 22:00 | NZ | NZIER Business Confidence (2Q) | -65 | |||
| Jul 7 | 04:30 | AU | RBA Interest Rate Decision | 3% | 3% | |
| 08:00 | UK | Halifax House Prices (MoM) | 0.0% | 2.6% | ||
| 08:00 | UK | Halifax House Prices (YoY) | -16.3% | |||
| 08:30 | UK | Industrial Production (MoM) (May) | 0.2% | 0.3% | ||
Educational Resources
Using swing breakouts in forex trading
This article is taken from the Forex Journal (May 2009 issue). The author, Doug Schaff, has traded the Forex markets for close to 30 years. Doug Schaff discusses the use of intermediate swing highs and swing lows to develop a shortterm approach to trading the currency markets. Read the article!
Other Article in this Issue:
Timely Advice from a Pro Trader by Johan Kriek