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Wednesday, Jun 19, 07:54 GMT

EUROPEAN Trading Newsletter



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Trader's Eye on NZD, short-term

Gonçalo Moreira - Carefull watching an abrupt move back into the Greenback, otherwise favoring NZD against CAD.


AUDUSD is assessed to be in large (monthly) channel pattern by Ian Coleman

Scaling back of stimulus threatens to drag the AUD lower by OzForex Research

NZD/USD, AUD/NZD Flows: Q1 C/A balance -NZD660m, -4.8% of GDP; Kiwi steady by FXMarketAlerts Team

Latest from the Forex Social Network

photoGregor Horvat created a blog post 2 minutes ago EURUSD: Final Stages within Uptrend?!
EURUSD reached new high yesterday so we assume that wave 4 is already complete and that wave 5 is underway which has room for further gains, towards 1...

photoInspector Clouseau commented a blog post 2 minutes ago Intraday Charts for Key Pairs - Monday 17th June 2013 - Onwards
Dear Peter,  With regards to trading and your help (introduction to linear regression), I acknowledge and extend my gratitude to you. That tool has wo...

phototrader fx View Activity 7 minutes ago hi sir,how are you  hope you well.no tips from last 3 weeks.thanx

photoJason Sen created a blog post 10 minutes ago Today's #XAGUSD #Silver day trading report

Webinars Schedule

Curt WehrleyTrade the Fed Decision LIVE
Expert: Curt Wehrley
Start: Wed, Jun 19, 17:45 GMT

Type of Session: Webinar


Navin PrithyaniThink Like A Banker, Win Like a Banker
Expert: Navin Prithyani
Start: Thu, Jun 20, 13:00 GMT

Type of Session: Webinar


Sponsored by
Wed, Jun 19, 10:00 GMTHow to Find The Best Reversal Setups Using the Big Shadow Walter PetersWBNSponsored by
Wed, Jun 19, 12:00 GMTUS Session Open Ed PonsiWBNSponsored by
Wed, Jun 19, 13:00 GMTUS Session Open Ed PonsiWBNSponsored by
Wed, Jun 19, 17:45 GMTMonitoring the markets: Fed Interest Rates DecisionValeria BednarikLCV 
Wed, Jun 19, 17:45 GMTTrade the Fed Decision LIVECurt WehrleyWBNSponsored by
[ View All ]

Current Session: Europe

EUR/USD had again a very choppy trading session

EUR/USD Spot


Overnight, most Asian shares are in negative territory with Japan again the exception to the rule. China is a distinct underperformer. The developments in Asia have again little impact on EUR/USD. The pair is holding in the 1.34 area, within reach of the ST correction top.

USDCHF pulls back from 0.9271

AUDUSD is assessed to be in large (monthly) channel pattern

Charting the Market Movers

USD JPY, Hourly


USD/JPY

Event of the Day

US FED INTEREST RATE DECISION

Date (GMT)EventActualCons.Previous
Jun 1918:00Fed Interest Rate Decision-0.25%0.25%

Weekly Observatory - All eyes on the FED by BBVA Bancomer

[ Full Story ]

Sunrise Market Commentary - US yields were flat to 1 basis points lower by KBC Bank

Dollar rises against yen ahead of Fed rate decision : June 19, 2013 (Wed, Jun 19 2013) by AceTrader

Trading Opportunities Using Inter−Market Relationships - Equities Provide Stress Test For The Federal Reserve by Jupiter Peak Financial, LLC

Event of the Week

Switzerland SNB INTEREST RATE DECISION

Date (GMT)EventActualCons.Previous
Jun 2007:30SNB Interest Rate Decision-0%0%

Economic Events

Date (GMT)CountryEventActualCons.Previous
Jun 1823:50JP Imports (YoY) (May) 10.0%10.8%9.5%
23:50JP Merchandise Trade Balance Total (May) ¥-993.9B-¥1200.0B-¥881.9B
Jun 1900:00AU CB Leading Indicator (Apr) 0.3%0.1%
00:30AU Westpac Leading Index (MoM) (Apr) 0.6%0.1%
08:30UK Bank of England Minutes 
09:00EMUConstruction Output s.a (MoM) (Apr) -1.7%
09:00EMUConstruction Output w.d.a (YoY) (Apr) -7.9%
09:00CH ZEW Survey − Expectations (Jun) 2.2
09:30DE 10−y Bond Auction 1.41%
11:00US MBA Mortgage Applications (Jun 14) 5%
[ View All ]

Educational Resources

The White Space

Sam Seiden − It seems to me that everything ever written about trading with price charts is always about the price action on the chart. A candlestick, line, bar, tick, point and figure, volume, or any other type of chart obviously represents the price action. All the information people write and read about has to do with the price action. I don't think I have ever seen anything written about the white space on the chart...

See more Lessons From The Pros:

Surfing for Dividends by Brandon Wendell, CMT

Meditation Can Be the Medication for Your Trading by Dr. Woody Johnson

Common Classroom Questions by Rick Wright

Forex Glossary

Fed

Acronym for the Federal Reserve System, the major monetary authority in the United States of America.

Federal Open Market Committee

The FOMC is a policy making committee made up of 12 members of the Federal Reserve. They meet on a regular basis (eight times per year) to make decisions on economic policy although they can hold non-scheduled meetings as well.

One one hand, the meetings serve to decide on an appropriate level for the discount rate and the Fed Funds target rate. The Fed Fund interest rates is the rate which banks lend funds to each other to maintain their reserve requirements with the Fed. This objective is indirectly achieved through its open market operations, that is, the sale and purchase of US Treasuries and Federal agency securities to and from banks. The Federal Open Market Committee sets the short-term objectives of these open market operations, one of the Fed's main monetary policy tools.

On the other hand, the discount rate, the rate at which it charges banks for overnight loans, is something the Fed directly controls the but which has little impact on banks' activities as these funds are available elsewhere.

Each Federal Open Market Committee meeting is concluded with the publication of a press release. Later, the meeting minutes for the most recent Federal Open Market Committee are published.
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