Wednesday, Jul 30, 07:28 GMT
EUROPEAN Trading Newsletter
Featured
3 reasons to register now for the ITC 2008:
Last days to enjoy the Early Bird Discount to attend the ITC 2008. Register before July, 31st and save money.
2. Improve your trading skills! 8 key Speakers will help you.
You will have the opportunity to interact and learn directly from: Rob Booker, Lars Christensen, Dirk D. du Toit, Derek Frey, Sunil Mangwani, Phil Newton, Jamie Saettele and Sam Seiden.
3. Live an unforgettable human experience!
Rob Booker was already there in 2007. Watch the video and see why he is coming back this year with an educative and helpful topic: Developing the Trader's Mind: Strategies for Long Term Success (Trading Psychology).
To Get Started
- Webinar VIDEOS: Diversification in the Forex by John Jagerson
- Live Charts Window: 100 charts in real time
- FXstreet.com DVD Series − Support and Resistance Trading − Buy it now! by Rob Booker and Dave Murphy
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Forex Blogs
The Disciplined Trader: What Global Connectivity is Doing To All financial Markets by Pierre Charlebois
The overall group psychology of global traders is likely going to cause quite a shift in many if not all sectors and indexes in the next few weeks.
- London Remains Forex Capital Latest Surveys Show by Dow Jones
FX Path: Technical and Fundamental Forex Trading by James Chen
Forexology: Recap and follow up by Sunil Mangwani
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jul 30, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jul 30, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 30, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jul 30, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jul 30, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Jul 30, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − Daily technical outlook − Wednesday 07.30.2008 by E−Forex
The Euro declined after the failed attempts on breaking resistance into the 1.5750 zone, reaching lows at 1.5555. Short term momentum is negative and the break of the support at 1.5625/30 suggests that more downside action is possible especially if the previous support at 1.5630 will provide a strong barrier on the upside during the upcoming sessions. Near term support comes at 1.5550 backed by the 1.5445/65 support zone which should limit downside for now.
- EURO and GBP are expected to make either way big swings by Dr. S. Sivaraman, of i−knowindices.com
- Support and Resistance Trading DVD by Andrei Pehar, Sr. Currency Strategist fxKnight.com
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Market Session Recaps − Asia Session by FOREX.com
Banks' Analysis
Daily Forex Commentary − The USD jumped on US consumer confidence by Jyske Bank
Daily Technical Analysis − EUR: Attempt longs at 1.5565; stop below 1.5500 by Mizuho Corporate Bank
Weekly Analysis
Weekly Update − The euro is stabilizing around the $1.57 level by Union Bank of California
FX Analysts' Blogs
The GBP/JPY Revisited by Ross Yamashita, owner of Pro Pipper Trading
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.5586 , below pivot level 1.5632
07/30/2008 07:01 GMT - GBP/USD
- Trades around opening price level 1.9786 , below pivot level 1.9837
07/30/2008 07:02 GMT - USD/CHF
- Trades around opening price level 1.0468 , above pivot level 1.0421
07/30/2008 07:02 GMT - USD/JPY
- Trades around opening price level 108.11 , above pivot level 107.89
07/30/2008 07:02 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 ECONOMIC CONFIDENCE
| Date (GMT) | Event | Cons. | Previous | |
| Jul 30 | 09:00 | Consumer Confidence | -18 | -17 |
| Jul 30 | 09:00 | Economic Confidence | 93.0 | 94.9 |
| Jul 30 | 09:00 | Industrial Confidence | -7 | -5 |
Friday Notes - Economic confidence should decline further in July by HVB Group
Economic confidence should decline further in July, coming in at 93.8. Sentiment among manufacturers and consumers seems more vulnerable: manufacturers are facing rising levels of stocks and worsening expectations for domestic and foreign demand, while consumers are seeing their purchasing power dragged down by the inflation spike and are starting to become concerned about labor market prospects.
[ Full Story ]Top Market Movers Review
Australia BUILDING PERMITS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 30 | 01:30 | Building Permits (YoY) | -7.8% | -4.1% | 0.2% |
| Jul 30 | 01:30 | Building Permits (MoM) | -0.7% | 1.0% | -6.5% |
Australian June Residential Bldg Approvals −0.7% On Month (Dow Jones)
The total number of Australian houses and apartments approved for construction fell a seasonally adjusted 0.7% in June from May, the Australian Bureau of Statistics said Wednesday. Economists had expected on average that total residential building approvals rose 1.7% from the month before. Private−sector house approvals were flat from a month earlier and rose 0.1% from a year earlier.
[ Full Story ]- Read the Building Approvals report at Australian Bureau of Statistics
- UPDATE 1−Australia home approvals slip further in June (Thomson Financial News)
- Australia June building approvals fall 0.7 pct (Thomson Financial News)
Japan INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 29 | 23:50 | Industrial Production (YoY) | 0.2% | 0.6% | 1.1% |
| Jul 29 | 23:50 | Industrial Production (MoM) | -2.0% | -1.6% | 2.8% |
Japan Jun Indus Output −2.0% On Mo; Mkt Expected −1.7% (Dow Jones)
Japanese industrial output fell 2.0% on month in June, marking the first drop in two months, the government said Wednesday. Economists surveyed by Dow Jones Newswires and Nikkei estimated on average that industrial production had decreased 1.7% on month in June after adjustment for seasonal factors. Industrial output rose 2.8% on month in May following a 0.2% slide in April, the Ministry of Economy, Trade and Industry said.
[ Full Story ]- Read the Industrial Production report at Japan Ministry of Economy, Trade and Industry
- Japanese govt bonds end morning steady after weak output data, firmer stocks (Thomson Financial News)
- Japan's industrial output sees bigger fall in June on slowing demand − UPDATE (Thomson Financial News)
- Japan's industrial output falls 2.0 percent in June, fall bigger than forecast (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 29 | 23:50 | JP | Industrial Production (MoM) (Jun)  | -2.0% | -1.6% | 2.8% |
| 23:50 | JP | Industrial Production (YoY) (Jun) | 0.2% | 0.6% | 1.1% | |
| Jul 30 | 01:30 | AU | Building Permits (MoM) (Jun) | -0.7% | 1.0% | -6.5% |
| 01:30 | AU | Building Permits (YoY) (Jun) | -7.8% | -4.1% | 0.2% | |
| 08:00 | DE | Bloomberg Retail PMI (Jul) | 44.9 | |||
| 08:00 | EMU | Bloomberg Retail PMI (Jul) | 44 | |||
| 09:00 | EMU | Consumer Confidence (Jul) | -18 | -17 | ||
| 09:00 | EMU | Economic Confidence (Jul) | 93.0 | 94.9 | ||
| 09:00 | EMU | Industrial Confidence (Jun) | -7 | -5 | ||
| 09:30 | CH | KOF Leading Indicator (Jul) | 0.95 | 1.01 | ||