Monday, Nov 02, 16:24 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
FX Path: AUD/USD − Bounce Respects Uptrend by James Chen
AUD/USD Daily ChartPrice action beginning the new week on AUD/USD, a daily chart of which is shown, has retraced all the way down to a key uptrend support line extending from the March lows, before making a pronounced bounce up off the trendline, tentatively respecting the current prevailing uptrend.
The Disciplined Trader: Candle patterns that really matter on the EUR/USD by Pierre Charlebois
The Advisor Weblog: Eur/Usd approaching to 1.4800 by Valeria Bednarik
Sponsored by 
Live Sessions Schedule
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Nov 2, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Day's Live Wrap Up − With Extra Educational Contents
Expert: Valeria Bednarik
Start: Mon, Nov 2, 22:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Nov 2, 16:00 GMT | Volatility Trading Strategies to Perceive and Defeat Forex Volatility through Traditional Indicators  | Mark Whistler | WBN |  |
| Mon, Nov 2, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Mon, Nov 2, 22:00 GMT | Trading Day's Live Wrap Up − With Extra Educational Contents | Valeria Bednarik | WBN | |
| Tue, Nov 3, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Tue, Nov 3, 09:00 GMT | London Session Scenarios on GBPUSD & GBPJPY | Mihai Marinescu | WBN | |
Current Session: U.S.
Daily close above 1.4840 will support the upside bias
FXstreet.com Independent Analyst Team − Pair failed several times to break the 61.8% of the last daily rally around 1.4700, suggesting a corrective movement before next up movement. However, the upside also remains limited by the 1.4840 area, 38.2% of the same rally, while 20 SMA in the daily comes to offer resistance at the same exact zone. Daily close above this area, will support the upside bias
USD/JPY
During October dollar/yen held between 88.01 and 92.33 by Mizuho Corporate Bank
During October dollar/yen held between 88.01 and 92.33 as expected, in what is seen a corrective bounce from critical support. This month could see a repeat of this type of move, but probably with a lower high and lower low
AUD/USD
Major upside target resides around that 0.9325 high by FX Solutions
Price action beginning the new week on AUD/USD, a daily chart of which is shown, has retraced all the way down to a key uptrend support line extending from the March lows, before making a pronounced bounce up off the trendline
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com , Deltastock , Financial Trend Analysis , KBC , Mizuho
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Event of the Day
US PENDING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 2 | 15:00 | Construction Spending (MoM) | 0.8% | - | 0.8% |
| Nov 2 | 15:00 | Pending Home Sales (MoM) | 6.1% | - | 6.4% |
US Sep Pending Home Sales +21.2% From Sep 2008 − NAR (Dow Jones)
A forecasting gauge of housing−market activity rose far more than expected in September as first−time homebuyers rushed to sign contracts in time to collect government tax credits originally scheduled to expire this month.
[ Full Story ]- Read the official data at National Association of Realtors
- Wall Street extends gains after U.S. data; Dollar and Yen, lower (FXstreet.com)
- Dollar dips on bright U.S. housing and Manufacturing data (FXstreet.com)
- DATA SNAP: Sep Construction Spending Above Expectations (Dow Jones)
Sunrise Market Commentary - US pending home sales are expected to show the eighth consecutive increase by KBC Bank
Event of the Week
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 5 | 12:45 | ECB Interest Rate Decision | - | 1% | 1% |
EMU economic indicators - ECB council: no policy change by BHF−Bank
As far as next week's ECB council meeting is concerned, however, we are expecting the policy stance to be left unchanged. The central bank will probably restrict itself to gradually becoming more upbeat in its assessment of the macroeconomic situation and gently hinting that exit will be necessary "at some point".
[ Full Story ]Euro Thoughts - No major surprises are expected on the November ECB meeting by UniCredit Group
Top Fundamental Stories - Analysts expect the rate to remain unchanged by ecPulse.com
Sunrise Market Commentary - No change in interest rates is expected by KBC Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 2 | 00:00 | JP | Bank Holiday | |||
| 15:00 | US | ISM Manufacturing (Oct) | 55.7 | 52.6 | ||
| 15:00 | US | Pending Home Sales (MoM) (Sep) | 6.1% | 6.4% | ||
| 21:45 | NZ | Labor Cost Index (QoQ) (1Q) | 0.3% | |||
| Nov 3 | 00:00 | US | Total Vehicle Sales (Oct) | 9.8M | ||
| 02:00 | NZ | ANZ Commodity Price (Oct) | ||||
| 03:30 | AU | RBA Interest Rate Decision | 3.50% | 3.25% | ||
Educational Resources
Understand your Trading System
In today's market, a trader's problems change as quickly as he or she can solve them, which is why having a rule−based strategy is more important than ever, says Mike Baghdady. In addition to trying to make correct trading decisions, new issues have arisen that we must attend to such as anonymity to protect our orders from negative selection and executing our orders with the least possible market impact.
Read Mike Baghdady's new educational contribution!
More about Trading Systems:
Forex Trading System - Report by Dima Chernovolov
Building a Trading System in the Forex - Webinar Recording by John Jagerson
Trading Systems - Q&A Session Transcript by Dan Blystone