Thursday, Jul 10, 07:23 GMT
EUROPEAN Trading Newsletter
THE FOREX GAME: Training Week
Sharpen your skills, find your strategy. Train this week and win a $5,000 Real Account with Alpari UK the next one.Sponsored by:
To Get Started
- Webinar VIDEOS: Trading Break Out's And Other Market Views by Phil Newton
- NEW BLOG: The Trader's Edge by Ross Yamashita
- FX Market Readings: BOE interest rate announcement − traders are becoming tense... by Dr. S. Sivaraman
- LIVE Free Access Day Today − 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 − Free Access Day
Expert: Mark De La Paz
Start: Thu, Jul 10, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
US Pre−Market Open − Free Access Day
Expert: Ed Ponsi
Start: Thu, Jul 10, 12:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 10, 11:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN | |
| Thu, Jul 10, 12:00 GMT | US Pre−Market Open − Free Access Day | Ed Ponsi | WBN |  |
| Thu, Jul 10, 12:30 GMT | Diversification in the Forex − Free Access Day | John Jagerson | WBN | |
| Thu, Jul 10, 13:30 GMT | US Session Open − Free Access Day | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − Daily technical outlook − Thursday 07.10.2008 by E−Forex
Key resistance comes around 1.5785 and a potential break would confirm the uptrend. Interim resistance is noticed at 1.5760 formed by the 50% retracement of the 1.5908−1.5611 move but it should not act as a strong barrier. On the downside, near term support is formed around 1.5725 by an upward trendline then at 1.5660. While holding above 1.5660, sentiment is bullish and extended gains towards the 1.58 and 1.59 zones are possible.
- The Advisor Weblog by Valeria Bednarik, Analyst at MolFX − Management
- The Forex Game: Stop Losing Dollars... Win Duellars!
- Longer−term Support and Resistance Trading: Setups and Rules Rob Booker, Founder and Host TraderRadio.net
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Daily Forex Technical Report − Aussie Boosted by Employment, BoE & Bernanke Awaited by ActionForex.com
Banks' Analysis
Forex Trading Strategies − Dollar broadly lower though range still dominates the bigger picture by Saxo Bank
Today's Technical Trading Points by Danske Bank A/S
Daily Forex Commentary − CPI from Norway and Sweden by Jyske Bank
FX Analysts' Comments
Classifying the harmonic patterns by Sunil Mangwani, CEO at FibForex123
BOE interest rate announcement − traders are becoming tense... by Dr. S. Sivaraman, of i−knowindices.com
Currencies at a Glance
- EUR/USD
- Trades above pivot level 1.5714
07/10/2008 07:03 GMT - GBP/USD
- Trades above pivot level 1.9780
07/10/2008 07:04 GMT - USD/CHF
- Trades below pivot level 1.0303
07/10/2008 07:06 GMT - USD/JPY
- Trades below pivot level 107.03
07/10/2008 07:08 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 BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jul 10 | 11:00 | BoE Interest Rate Decision | 5% | 5% |
Friday Notes - We expect the BoE to leave the repo rate on hold in July by HVB Group
We expect the BoE to leave the repo rate on hold in July. Despite growing signals that growth is bound to decelerate sharply in coming months, the inflation outlook is darkening. This will force the BoE to remain on hold for a while, trying to anchor inflation expectations and prevent second round effects on wages. Still, we remain convinced that the next BoE move will be a cut, with the easing being resumed early next year.
[ Full Story ]Daily Forex Technical Report − BoE & Bernanke Awaited by ActionForex.com
Top Market Movers Review
Australia UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 10 | 01:30 | Employment Change | 29.8K | 10.2K | -19.7K |
| Jul 10 | 01:30 | Unemployment Rate | 4.2% | 4.3% | 4.3% |
Daily Forex Technical Report − Aussie Boosted by Employment by ActionForex.com
Also, the job market rebounded and showed 29.8k expansion, above consensus of 10k and cancelled out May's unexpected contraction of −25.6k.
[ Full Story ]- Read the Labour Force report at Australian Bureau of Statistics
- Australia's June labor data stronger than expected, Australian dollar rises (Thomson Financial News)
- DATA SNAP: Australian Jun Unemployment Rate 4.2% (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 9 | 23:50 | JP | Adjusted Current Account (May) | ¥2000.6B | ¥2052.6B | ¥1510.7B |
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Jun) | 5.6% | 5.3% | 4.7% | |
| Jul 10 | 01:30 | AU | Employment Change (Jun) | 29.8K | 10.2K | -19.7K |
| 01:30 | AU | Unemployment Rate (Jun) | 4.2% | 4.3% | 4.3% | |
| 08:00 | EMU | ECB Monthly Report (May) | ||||
| 11:00 | UK | BoE Interest Rate Decision | 5% | 5% | ||
| 12:30 | US | Continuing Jobless Claims (Jun 28) | 3145K | 3116K | ||
| 12:30 | US | Initial Jobless Claims (Jul 5) | 397K | 404K | ||
| 14:00 | US | Bernanke, Paulson testify before House Committee | ||||
| Jul 11 | 04:30 | JP | Capacity Utilization (May) | 105.9 | ||