Friday, Jul 24, 15:05 GMT
ASIA-PACIFIC Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: USD/CAD daily charts by Valeria Bednarik
Take a look at this daily chart, and you will see what I see: USD/CAD is barely 40 pips away from the 1.0780 lows, strong support zone for the pair. RSI around 24 in the daily, also show extremely over sold conditions in the pair.
Chartology: USD/JPY Minute Breakdown to 30 Minute Swing by Raghee Horner
ForexHedge: USD/JPY Trend by Ron Schelling
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Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Mon, Jul 27, 05:00 GMT
Type of Session: Webinar
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Jul 27, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 24, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN |  |
| Mon, Jul 27, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Mon, Jul 27, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Jul 27, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Jul 27, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
Current Session: U.S.
GBP/USD: Testing the base of the 4 hours ascendant channel
FXstreet.com Independent Analyst Team −New candle opening under the base of the channel, will confirm the movement with immediate support around 1.6320 minimum's zone, followed by 1.6270, 200 EMA in 4 hours charts. Under this last, lies the strong 1.6240 zone, ahead of the 1.6200 level. Above 1.6460, pair could regain the upside with immediate resistances around 1.6520 and the strong 1.6550 that should keep the upside capped.
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EUR/USD
EUR/USD: Indicators suggest some more downside bias by FXstreet.com Independent Analyst Team
Pair reached the 1.4250 level early in the European session in a quick rally, where the pair rebounded to the downside.
USD/CAD
USDCAD has moved all the way back to the 1.0800 by Saxo Bank
USDCAD has moved all the way back to the 1.0800 are in one fell swoop as oil prices have recovered strongly and as stock launched a monster rally over the last two weeks.
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 NEW HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jul 27 | 14:00 | New Home Sales (MoM) | 2.3% | -0.6% |
| Jul 27 | 14:00 | New Home Sales | 350K | 342K |
Friday Notes - In June, sales likely pulled back somewhat by UniCredit Group
After plummeting by 75% since mid−2005, sales of new homes apparently found a bottom at the beginning of this year. Since January, they are moving within a narrow range of about 330k to 350k units. In June, sales likely pulled back somewhat as mortgage rates surged at the beginning of the month. We do not think, however, that they will fall below their January low of 329k.
[ Full Story ]Top Market Movers Review
US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 13:55 | Reuters/Michigan Consumer Sentiment Index | 66.0 | 65.1 | 70.8 |
US Reuters/Michigan Consumer Sentiment Index falls to 66 in Jul vs 70.8 in Jun (FXstreet.com)
[ Full Story ]- Read the official data at Reuters/University of Michigan
- Forex: EUR/USD falls to test 1.4210 after US sentiment data (FXstreet.com)
- Euro and Pound ease as U.S. Reuters/U. Michigan consumer sentiment drops in July (FXstreet.com)
- Reuters/Univ Michigan End−Jul Sentiment 66.0; Jun 70.8 (Dow Jones)
US economic indicators - We would expect UMI's final July consumer sentiment to be about 65 by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 24 | 13:55 | US | Reuters/Michigan Consumer Sentiment Index | 66.0 | 65.1 | 70.8 |
| 14:00 | US | Treasury's Geithner Speech | ||||
| Jul 26 | 23:50 | JP | Corporate Service Price (YoY) | -3% | ||
| Jul 27 | 06:00 | DE | Gfk Consumer Confidence Survey | 2.9 | ||
| 06:00 | DE | Import Price Index (MoM) | 0.9% | 0.0% | ||
| 06:00 | DE | Import Price Index (YoY) | -10.4% | |||
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) | -9.3% | |||
Educational Resources
Educator of the Month: Wayne McDonell
Wayne McDonell is a professional FOREX trader with an Entrepreneurial spirit and a business leader's mind. He trades his own funds and trains others how to do so consistently and profitably by coaching them everyday... in the live FOREX markets. Wayne has been a close contributor of FXstreet.com for many years. Check the links below!
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 39th Edition, Aug 7 2009 - Register now
Strategic & Tactical FOREX Trading (Part 1) - Webinar recording
Strategic & Tactical FOREX Trading (Part 2) - Webinar recording
The FX Bootcamp Guide to Strategic and Tactical Forex Trading - Wayne's book
FxBootcamp - Follow Wayne's Video Trade Journal Blog