Tuesday, Mar 18, 08:19 GMT

EUROPEAN Trading Newsletter

To Get Started

Webinars VIDEOS: Combining Fundamental and Technical Analysis by S. Wade Hansen
FOMC: Preview of policy meeting by Danske Bank A/S
FX Trader of the Year 2008 − Second week ranking
Monthly Webinar with Derek Frey − Thu. 20th − Register now

Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.

Live Sessions Schedule

FX Instructor Live Trading Room
Expert: Nader Moustafa
Start: Tue, Mar 18, 09:00 GMT
Sponsored by:
Type of Session: Webinar

Trading with figures
Expert: Valeria Bednarik
Start: Tue, Mar 18, 11:00 GMT

Type of Session: Webinar
Topics
− How to use them in your daily trading
− Reliability of each figure
− Different kind of figures: continuation and change

Sponsored by
Tue, Mar 18, 08:00 GMT	Outlook for the major currencies this week	Ian Copsey	WBN
Tue, Mar 18, 09:00 GMT	FX Instructor Live Trading Room	Nader Moustafa	WBN
Tue, Mar 18, 11:00 GMT	Trading with figures	Valeria Bednarik	WBN
Tue, Mar 18, 12:00 GMT	US Pre−Market Open	Ed Ponsi	WBN

[ View All ]

Current Session: Europe

EUR/USD

Daily Recommended Trades − The Euro has retraced on yesterday after reaching 1.5905 by E−Forex

The Euro has retraced on yesterday after reaching 1.5905 but remained into the 1.57 area after testing bids into the 1.5690 area. Turbulent trading sessions are expected today due to the FOMC rate decision at 18:15 GMT. Good support is now seen into the 1.5680 area and while it holds, objectives are eyed at 1.5900 and 1.6, higher. Interim support is noticed at 1.5760 and 1.5715.

[ Full Story ]

Banks' Analysis

Daily Technical Analysis − EUR: Attempt small longs at 1.5775, adding to 1.5600 by Mizuho Corporate Bank

FX' Signal

Spot Forex Trades − Will FOMC benchmark rate ‘par' near term? by ForexSurvivor

Currencies at a Glance

EUR/USD: Trades above first resistant level 1.5729
03/18/2008 05:56 GMT
GBP/USD: Trades around second support level 2.0033
03/18/2008 05:56 GMT
USD/CHF: Trades around second support level 0.9860
03/18/2008 05:56 GMT
USD/JPY: Trades below second support level 97.45
03/18/2008 05:56 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

UK CONSUMER PRICE INDEX

Date (GMT)		Event	Cons.	Previous
Mar 18	09:30	Consumer Price Index (YoY)	2.5%	2.2%
Mar 18	09:30	Consumer Price Index (MoM)	0.8%	-0.7%

Friday Notes - The Fed takes the reins by HVB Group

UK CPI has likely increased 0.8% m−o−m in February, pushing headline inflation up significantly to 2.5% from 2.2% in January. The main culprit of the inflation acceleration should be the announced increases in gas and electricity prices, which according to the new ONS methodology will entirely fall on February. On a more positive note, the core is likely to marginally edge down again to 1.2%.

[ Full Story ]

Top Market Movers Review

Australia RBA MEETING'S MINUTES

Date (GMT)		Event	Actual	Cons.	Previous
Mar 18	00:30	RBA Meeting's Minutes	-	-	-

Australian central bank minutes suggest pause in rate hikes, possible easing (Thomson Financial News)

The Australian central bank thinks it has raised interest rates substantially since mid−2007 to fight rising inflation, according to the minutes of its meeting earlier this month which analysts say suggest that the Reserve Bank may hold off any further rate hike and even leaves the door open to monetary easing.

[ Full Story ]

Read the Minutes of the Monetary Policy Meeting at RBA

US NAHB HOUSING MARKET INDEX

Date (GMT)		Event	Actual	Cons.	Previous
Mar 17	17:00	NAHB Housing Market Index	20	20	20

US NAHB Mar Housing Index 20 Vs 20 In Feb (Dow Jones)

The sour mood of U.S. home builders didn't sweeten during March. The National Association of Home Builders' index for sales of new, single−family homes held steady at 20, according to a news release Monday issued by the group. That reading is near its historic low of 18, set in December; records began in January 1985.

[ Full Story ]

Read the Housing Market Index report at NAHB website
US homebuilders March index holds steady at 20 as expected (Thomson Financial News)

US economic indicators - The FOMC is expected to cut the federal funds rate sharply again by BHF−Bank

Economic Events

Date (GMT)		Country	Event	Actual	Cons.	Previous
Mar 17	17:00	US	NAHB Housing Market Index (Mar)	20	20	20
Mar 18	00:30	AU	RBA Meeting's Minutes (Mar 4)
	05:30	JP	Nationwide Department Sales (YoY) (Feb)	0.9%		-2.1%
	05:30	JP	Tokyo Department Store Sales (YoY) (Feb)	2.8%		-1.6%
	09:15	CH	Industrial Production (QoQ) (4Q)			0%
	09:15	CH	Industrial Production (YoY) (4Q)		8.2%	10.7%
	09:30	UK	Consumer Price Index (MoM) (Feb)		0.8%	-0.7%
	09:30	UK	Consumer Price Index (YoY) (Feb)		2.5%	2.2%
	09:30	UK	Core Consumer Price Index (YoY) (Feb)		1.4%	1.3%
	09:30	UK	Retail Price Index (MoM) (Feb)		0.8%	-0.5%

[ View All ]