Wednesday, Mar 05, 08:14 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinars VIDEOS: Mapping The News by John Jagerson
- Check all information about Metals and Financials Quotes
- Currency Performance Report: Asia, Europe and US
- Trendex: Instant Trading Tips from FX Pros right to your desktop
- FX Trader of the year 2008: Last call for the Trading contest. Register until March, 17th
- The Advisor Blog: At the Open
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Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Mar 5, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 22nd Edition
Expert: Wayne McDonell
Start: Fri, Mar 7, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Mar 5, 10:00 GMT | FX Instructor Live Trading Room  | Nader Moustafa | WBN |  |
| Wed, Mar 5, 11:00 GMT | What Moves Currencies? | Tony Juste | WBN |  |
| Wed, Mar 5, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Mar 5, 15:00 GMT | 3−Easy Steps In Placing Stops | Adam Rosen | WBN |  |
Current Session: Europe
GBP/USD
Picking Tops and Bottoms − British Pound on the Brink of a Bullish Break by FXCM
The GBPUSD is on the verge of a bullish breakout that could test 2.07. Risk is tight.
The decline from 2.1160 to 1.9337 is in 5 waves and indicates that the larger trend is down. That drop is either wave 1 or A within a bear cycle. The rally from 1.9337 is either wave 2 or B but it is our contention that the rally is not over. Wave C (from 1.9361) has exceeded the wave A high of 1.9957 but the weight of evidence argues for the rally to continue.
Other Topics for this Session:
Daily Recommended Trades − EURUSD daily outlook by E−Forex
Currency Majors Technical Analysis − 1,9193. EUR USD is in an uptrend by Mataf.net
Daily Forex and Dow Jones Recommended Levels by Fxtechtrade
Forex Technical Analysis − EUR/USD: (1.5198) New high on break above 1.4923 (neckline Double Bottom: see graph) by KBC Bank
Monthly Analisys
Monthly Technical Outlook − Monthly Technical Outlook by Mizuho Corporate Bank
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
FX' Signal
Spot Forex Trades − New Signal: USDCAD by http://www.fxstreet.com/technical/forex−signals/spot−forex−trades/2008−03−05.html
Currencies at a Glance
- EUR/USD
- Moves down below first support level 1.5177
03/05/2008 07:52 GMT - GBP/USD
- Moves down towards third support level 1.9738
03/05/2008 07:53 GMT - USD/CHF
- Moves up above pivot level 1.0380
03/05/2008 07:54 GMT - USD/JPY
- Moves up towards first resistant level 103.74
03/05/2008 07:55 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Mar 5 | 09:30 | Purchasing Manager Index Services | 52.0 | 52.5 |
| Mar 5 | 09:00 | Purchasing Manager Index Services | 52.3 | 50.6 |
| Mar 5 | 08:55 | Purchasing Manager Index Services | 51.0 | 49.2 |
EMU economic indicators - The flash estimate for February is likely to show EMU inflation unchanged at 3.2 % yoy by BHF−Bank
The preliminary RBS purchasing managers' index for the EMU manufacturing sector for February is not likely to have been revised substantially, nor is Q4 EMU GDP growth.
[ Full Story ]Top Market Movers Review
Australia GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 00:30 | Gross Domestic Product (YoY) | 3.9% | 3.8% | 4.3% |
| Mar 5 | 00:30 | Gross Domestic Product (QoQ) | 0.6% | 0.8% | 1.0% |
DATA SNAP: Australian 4Q GDP Rises 0.6% Vs 3Q (Dow Jones)
Australia's average measure of gross domestic product rose 0.6% in the fourth quarter of 2007 from the third quarter and rose 3.9% from the year−earlier period, the Australian Bureau of Statistics said Wednesday. The quarterly data were lower than expected. Economists on average had expected that GDP rose 0.8% on a quarterly basis and rose 3.9% from a year earlier.
[ Full Story ]- Read the Gross Domestic Product report at Australian Bureau of Statistics
- Australia's Q4 GDP growth 0.6 percent (Thomson Financial News)
- DATA SNAP: Australian 4Q GDP Table −2− (Dow Jones)
UK NATIONWIDE CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 00:01 | Nationwide Consumer Confidence | 78 | - | 81 |
UK consumer confidence hits new low in February − Nationwide (Thomson Financial News)
Consumer confidence in the UK reached a new all−time low in February as rising food and fuel costs, and tighter borrowing conditions took its toll, according to a survey from the country's biggest building society. Nationwide said its monthly Consumer Confidence Index fell three points to 78 in February, its lowest level since the survey began.
[ Full Story ]- Read the Consumer Confidence report at Nationwide website
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 4 | 22:00 | US | ABC Consumer Confidence (Mar 2) | -34 | -37 | |
| Mar 5 | 00:01 | UK | Nationwide Consumer Confidence (Feb) | 78 | 81 | |
| 00:30 | AU | Gross Domestic Product (QoQ) (4Q) | 0.6% | 0.8% | 1.0% | |
| 00:30 | AU | Gross Domestic Product (YoY) (4Q) | 3.9% | 3.8% | 4.3% | |
| 08:55 | DE | Purchasing Manager Index Services (Feb) | 51.0 | 49.2 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Feb) | 52.3 | 50.6 | ||
| 09:30 | UK | Purchasing Manager Index Services (Feb) | 52.0 | 52.5 | ||
| 10:00 | EMU | Retail Sales (MoM) (Jan) | 0.3% | -0.1% | ||
| 10:00 | EMU | Retail Sales (YoY) (Jan) | 0.1% | -2.0% | ||
| 10:30 | UK | BRC Shop Price Index (MoM) (Feb) | -0.5% | |||