Tuesday, Jul 07, 16:06 GMT
ASIA-PACIFIC Trading Newsletter
Follow us on Twitter • Subscribe to our RSS feeds • Visit our Facebook page
To Get Started
- Learning Center: New chapter online: Fundamental Analysis. Read it now!
- WEBINAR VIDEOS: How to Get Started Trading Forex: Forex Volatility Illuminated by Mark Whistler
- All the events of the day in our Economic Calendar
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
Forex Trading Today: Yen Crosses Still Look to Accumulaton Albeit With Yen Dominance by Tim Salem
While we are at The NYSE Open with The Dow and S&P opening a bit "Flat" inching up at a Fractional pace… we can still look to The Indices for our Correlations over these last few days of Risk−Averse Behavior.
The Advisor Blog: Eur/Usd break above 1.4000 by Valeria Bednarik
CEO'S Weblog: Forex.com announces not to be affected by NFA’s FIFO rule limiting Trade with Stop and Limit Orders by Francesc Riverola
Sponsored by 
Live Sessions Schedule
Intraday Trading
Expert: Lea Peters
Start: Tue, Jul 7, 19:00 GMT
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Tue, Jul 7, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jul 7, 15:00 GMT | Trading Around Your Day Job | Ryan O'Keefe | WBN |  |
| Tue, Jul 7, 16:00 GMT | Drilling down, Support and Resistance | Triffany Hammond | WBN | |
| Tue, Jul 7, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Tue, Jul 7, 19:00 GMT | Intraday Trading | Lea Peters | WBN | |
| Tue, Jul 7, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
Current Session: U.S.
Euro long−term objectives could see it go further down against US dollar
Finotec Group Inc. − Jean Claude Trichet said he's concerned that a lack of coordination of economic policy around the world will allow the imbalances that led to the financial crisis to persist. "There is a very big danger that major countries internalize their problems, if we return to a picture of internal and external deficits that led to this crisis, we'll have the recipe for a new crisis." Technical analysis shows us the euro may continue its downtrend against U.S. dollar as MACD gives us a crossover with signal line . RSI breaks 70% level downwards. Bollinger gives us a bearish signal by closing the candle below the middle band.
.
GBP/USD
Indicators point for further losses by FXstreet.com
Pair remains bearish after failing to break back above the 1.6300 level. Candle opening under that level could trigger some more bearish momentum in the pair, with 1.6070 as probable target for today.
EUR/GBP
EUR/GBP Daily Chart by Master The Markets
The fragile recovery in the euro to pounds pair continued yesterday creeping marginally higher on the day but the daily candle closed with a bearish flavour given that the deep upper wick found some resistance from the 40 day moving average...
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
US ABC/WASHINGTON POST CONSUMER CONFIDENCE
| Date (GMT) | Event | Cons. | Previous | |
| Jul 7 | 21:00 | ABC/Washington Post Consumer Confidence | -50 | -51 |
US economic indicators - ABC consumer comfort poll is on a relatively low level by BHF−Bank
The Conference Board's consumer confidence deteriorated markedly, but the University of Michigan's (UMI) consumer sentiment increased again in June, albeit only modestly. However, expectations were already slightly lower than in May. In addition, the ABC consumer comfort poll is on a relatively low level, gasoline prices have risen by almost $1 per gallon since the beginning of the year, and the stock market recovery has stalled.
[ Full Story ]Top Market Movers Review
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 7 | 10:00 | Factory Orders n.s.a. (YoY) | -29.4% | -31.2% | -37.1% |
| Jul 7 | 10:00 | Factory Orders s.a. (MoM) | 4.4% | 0.6% | 0.1% |
2nd UPDATE: German May Manufacturing Orders Beat Forecasts (Dow Jones)
[ Full Story ]- Read the Factory Orders data at BMWi [text in German]
- UPDATE: German May Manufacturing Orders Beat Expectations (Dow Jones)
- Germany May Factory Orders up 4.4%, −29.4% YoY (FXstreet.com)
- DATA SNAP: German May Manufacturing Orders Beat Expectations (Dow Jones)
Germany: German orders beat all expectations by Danske Bank A/S
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 7 | 14:00 | CA | Ivey Purchasing Managers Index (Jun) | 58.2 | 50.4 | 48.4 |
| 14:00 | UK | NIESR GDP Estimate (Jun) | -0.4% | -1.3% |
||
| 20:30 | US | API Crude Oil Inventories (Jul 3) | -6.8M | |||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Jul 5) | -50 | -51 | ||
| 23:01 | UK | BRC Shop Price Index (YoY) | 1.3% | |||
| 23:01 | UK | Nationwide Consumer Confidence (Jun) | 55 | 53 | ||
| 23:50 | JP | Adjusted Current Account (May) | ¥1.25B | ¥966.30B | ||
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 Articles of the Forex Journal
Timely Advice from a Pro Trader by Johan Kriek
Leash in Retracements with Arcs by Cornelius Luca