Monday, Aug 18, 07:54 GMT
EUROPEAN Trading Newsletter
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Recommended Readings
FX Market Readings: What the week end moves indicate? by Dr. S. Sivaraman
On Friday Aug 15th, the week end closing moves were less volatile when compared to normal week end moves. EURO was alone making lower level swings and nominal downward stop hunt and all other pairs were firming up mostly with small swings.
FxBootcamp: Weekly Pivot Points by Wayne McDonell
FX Path: EUR/USD Update by James Chen
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Aug 18, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Mid−Year Review
Expert: Adam Rosen
Start: Mon, Aug 18, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Aug 18, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, Aug 18, 13:00 GMT | Mid−Year Review | Adam Rosen | WBN |  |
| Mon, Aug 18, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
| Mon, Aug 18, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN | |
Current Session: Europe
EUR/USD
Daily Market Commentary − It was a strange day of trading on Friday for the dollar by Global Forex Trading
Euro/dollar fell for the fifth straight week and closed below its rising trendline. The pair remains on track of a double top targeting the 1.4600 area. My model remains short since July 22. The immediate risk is higher. Immediate resistance is seen at 1.4755. This is followed by 1.4832 and 1.4950. Initial support is seen at 1.4640. Below the target at 1.4600, support now comes at 1.4505 and 1.4440.
- Gbp/Usd and Usd/Jpy for today by Valeria Bednarik, Analyst at MolFX − Management
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
The Mid−Day Minute − Near−term Low Approaching in Gold by MPTrader.com
Bank's Report
Daily Technical Analysis − EUR: Attempt small longs at 1.4740/1.4700 by Mizuho Corporate Bank
Latest Report
Dynamic Carry Basket − Carry Trade Plunges, But Yen Pairs Testing Support by FXCM
Currencies at a Glance
- EUR/USD
- Moves up towards first resistant level 1.4779
08/18/2008 06:59 GMT - GBP/USD
- Moves up above first resistant level 1.8712
08/18/2008 06:59 GMT - USD/CHF
- Moves down below first support level 1.0929
08/18/2008 07:00 GMT - USD/JPY
- Moves down below pivot level 110.26
08/18/2008 07:00 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
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Aug 18 | 17:00 | NAHB Housing Market Index | 16 | 16 |
Friday Notes - NAHB housing market index: Gloomy days for home builders by HVB Group
The home builders who contribute to this useful survey read the newspapers and are not impressed by headlines that proclaim the "worst is over" for housing. On the contrary, they see nothing but stagnant demand, excessive inventories of unsold houses, and growing difficulties in the whole housing finance sector.
[ Full Story ]Top Market Movers Review
UK RIGHTMOVE HOUSE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 17 | 23:01 | Rightmove House Price Index (MoM) | -2.3% | - | -1.8% |
| Aug 17 | 23:01 | Rightmove House Price Index (YoY) | -4.8% | - | -2.0% |
DATA SNAP: Rightmove: UK Home Sellers Slashing Asking Prices (Dow Jones)
Asking prices for homes put on sale in the U.K. posted their biggest annual drop for at least six years in August, as sellers adapted to the credit crunch and weaker demand, data from online estate agent Rightmove showed Monday. The average asking price for a residential property plunged 4.8% on the year to mid−August, the biggest annual drop since Rightmove launched its survey in August 2002. It fell 2.0% on the year in July.
[ Full Story ]- Read the House Price Index report at Rightmove website
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 17 | 23:01 | UK | Rightmove House Price Index (MoM) (Aug) | -2.3% | -1.8% | |
| 23:01 | UK | Rightmove House Price Index (YoY) (Aug) | -4.8% | -2.0% | ||
| Aug 18 | 07:15 | CH | Adjusted Real Retail Sales (YoY) (Jun) | 0.7% | 3.2% | 7.4% |
| 09:00 | EMU | Trade Balance n.s.a. (Jun) | €1.2B | -€4.6B | ||
| 09:00 | EMU | Trade Balance s.a. (Jun) | €1.0B | -€1.5B | ||
| 12:30 | CA | Canadian Investment in Foreign Securities (Jun) | -$6.093 | |||
| 12:30 | CA | Foreign investment in Canadian securities (Jun) | $5.500B | $10.717M | ||
| 17:00 | US | NAHB Housing Market Index (Aug) | 16 | 16 | ||
| 22:45 | NZ | Producer Price Index − Input (QoQ) (2Q) | 2.6% | 2.3% | ||
| 22:45 | NZ | Producer Price Index − Output (QoQ) (2Q) | 2.1% | 1.8% | ||