Tuesday, Nov 03, 16:59 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
Tech Trading: EUR/GBP Trade plan update by César B. Leiceaga
I took shorts at 0,9052 and already moved my stop−loss to breakeven to limit my risk. The first proposed option: (http://blogs.fxstreet.com/techtrading/2009/10/30/eurgbp−my−trade−plans/). I've also added a new target to my plan, bearing in mind the fast reversal from resistance area.
FX Market Readings: Can EURO and GBP slide more? by Dr. S. Sivaraman
Francesc’s Weblog: FXstreet Traffic Numbers in 2009 Keep a Healthy Trend by Francesc Riverola
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Live Sessions Schedule
Price Action
Expert: Lea Peters
Start: Tue, Nov 3, 20:00 GMT
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Tue, Nov 3, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Nov 3, 17:00 GMT | Drilling down, Support and Resistance | Triffany Hammond | WBN |  |
| Tue, Nov 3, 18:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Tue, Nov 3, 20:00 GMT | Price Action | Lea Peters | WBN | |
| Tue, Nov 3, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
| Wed, Nov 4, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: U.S.
U.S. Update: Gold halting dollar recovery
FXstreet.com Independent Analyst Team − If something is halting dollar from running higher, is gold: the commodity is quoting around $ 1068/oz, close to historical highs and pushing higher, while U.S. stocks remain in negative territory after U.S. factory orders come under expectations, despite improving to 0.9% from previous month reading of −0.8%. At this point, seems that we need to expect the main fundamental events of the week, (FOMC, ECB and BOE, followed by U.S. Nonfarm Payrolls) to find clearer long term definitions in currencies.
EUR/USD
Chart of the Day – EUR/USD by FX Solutions
Price action on EUR/USD has finally made a tentative breakdown below the key uptrend support line extending from the March lows. While this downside breach is significant and raises important questions as to the future direction...
Forecast
Volatility will increase dramatically in the coming year by FXstreet.com
The market situation in the coming year will be affected by the constantly changing volatility. Heitkoetter affirms these changes will be more drastic than ever.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com , Deltastock , Financial Trend Analysis
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Event of the Day
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 3 | 03:30 | RBA Interest Rate Decision | 3.50% | 3.50% | 3.25% |
Forex: AUD/USD: Aussie, bearish after rate hike, drops below 0.9000 (FXstreet.com)
Reserve Bank of Australia has raised its benchmark interest rate, from 3.25% to 3.5%, ,and the Aussie experienced a bearish reaction, dropping more than 100 pips, from 0.9095 ahead of the RBA decision, to levels below 0.8985 support, reaching 0.8960 session low at European opening times.
[ Full Story ]- Read the Rate data at RBA
- Asian forex market wrap: AUD lower after RBA hikes (Forex Live)
- AUD/USD drops 30 pips after RBA raises rates by 25 bps as expected (Forex Live)
- RBA +0.25 (Forex Live)
Asia Market Update - Reserve Bank of Australia hikes rates by 25bps for second consecutive month by TradeTheNews.com
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 3 | 13:00 | UK | Halifax House Prices (MoM) (Oct) | 1.2% | 1.5% |
|
| 15:00 | US | Factory Orders (Sep) | 0.9% | 1.1% | -0.8% | |
| 22:00 | US | ABC/Washington Post Consumer Confidence (Nov 1) | -51 | |||
| 23:50 | JP | Monetary Base (YoY) (Oct) | 4.5% | |||
| Nov 4 | 00:01 | UK | Nationwide Consumer Confidence (Oct) | 72 | 71 | |
| 00:30 | AU | Building Permits (MoM) (Sep) | 2.4% | -0.1% | ||
| 00:30 | AU | Retail Sales Trend (MoM) (Sep) | 0.5% | 0.9% | ||
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