Wednesday, May 07, 07:27 GMT
EUROPEAN Trading Newsletter
To Get Started
- From the Editor's Desk: Momentum and SMA 20: Alexander Elder Technique explained by Valeria Bednarik
- Check the new Streaming FX Charts by Netdania/ FXCM
- New Features in our Real−Time Economic Calendar
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 7, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, May 7, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 7, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 7, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, May 7, 15:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Wed, May 7, 16:00 GMT | The Importance of Trend Lines in Forex and How To Use Them | Sam Seiden | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − EURUSD, AUDUSD daily outlook − Wednesday 05.07.2008 by E−Forex
Yesterday's rally to 1.5595 provides clues that there are good chances of a resume of the longer term uptrend against the dollar, thing that would bring the 1.6 zone back in focus. 1.5700 has to break first in order to signal a reversal. On the downside, minor support is seen at 1.5475 which is the 50% retracement of the 1.5360−1.5595 move. By breaking below 1.5475 the Euro may test lower support at 1.5430 then 1.5340−60. Current quote is 1.5485 @06:16 GMT
- Raghee Horner's Four Step Trading: Forex by Raghee Horner, co−Founder and Lead Trader Raghee.com
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Banks' Analysis
Daily Technical Analysis − EUR: Possibly attempt small longs at 1.5480, adding to 1.5426; stop below 1.5360 by Mizuho Corporate Bank
FX' Signal
Spot Forex Trades − FX consolidates within wide moves by ForexSurvivor
Currencies at a Glance
- EUR/USD
- Moves down towards first support level 1.5458
05/07/2008 07:00 GMT - GBP/USD
- Moves down below first support level 1.9657
05/07/2008 07:01 GMT - USD/CHF
- Moves up above opening price level 1.0521 , above pivot level 1.0498
05/07/2008 07:01 GMT - USD/JPY
- Moves up towards first resistant level 105.25
05/07/2008 07:01 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
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 7 | 10:00 | Factory Orders n.s.a. (YoY) | 5.7% | 9.0% |
| May 7 | 10:00 | Factory Orders s.a. (MoM) | 0.2% | -0.5% |
EMU economic indicators - ECB set to keep refi rate unchanged by BHF−Bank
German industrial new orders might only have stabilized in March, as the correlated climate indicators sent mixed signals. However, the February figure could be revised upwards. Output in the German producing sector will probably have dropped in March, particularly because construction activities declined.
[ Full Story ]Top Market Movers Review
UK NATIONWIDE CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 6 | 23:01 | Nationwide Consumer Confidence | 70 | 74 | 77 |
UK consumer confidence falls again to new low − Nationwide (Thomson Financial News)
Consumer confidence has plunged to its lowest levels on record as the United Kingdom's economic prospects worsen, the Nationwide building society said. Nationwide's consumer confidence survey for April fell to 70, the lowest figure since polling began in May 2004, and accelerating the survey's downward trend of recent months.
[ Full Story ]- Read the Consumer Confidence report at Nationwide website
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 6 | 12:30 | CA | Building Permits (MoM) (Mar) | -4.5% | 1.2% | -1.0% |
| 14:00 | CA | Ivey Purchasing Managers Index (Apr) | 57.6 | 55.0 | 59.0 | |
| 21:00 | US | ABC Consumer Confidence (May 4) | -46 | -41 | ||
| 23:01 | UK | Nationwide Consumer Confidence (Apr) | 70 | 74 | 77 | |
| May 7 | 08:30 | UK | Industrial Production (MoM) (Mar) | -0.1% | 0.3% | |
| 08:30 | UK | Industrial Production (YoY) (Mar) | 0.8% | 1.3% | ||
| 08:30 | UK | Manufacturing Production (MoM) (Mar) | 0.0% | 0.4% | ||
| 08:30 | UK | Manufacturing Production (YoY) (Mar) | 1.2% | 1.9% | ||
| 09:00 | EMU | Retail Sales (MoM) (Mar) | 0.1% | -0.5% | ||
| 09:00 | EMU | Retail Sales (YoY) (Mar) | -0.6% | -0.2% | ||