Tuesday, Aug 26, 07:28 GMT
EUROPEAN Trading Newsletter
Forex Blogs
Recommended Readings
Chartology: Swing Short Set Up on the USD/JPY by Raghee Horner
The 30 minute dollar−yen has turning over and begun trending lower. The initial set up was a Raghee's Cycle Indicator/Commodity Channel Index (20) short. The trigger came at 2:30am to 3:00am EST.
FX Market Readings: Downward dips... by Dr. S. Sivaraman
FX Path: Stop Loss Placement − Arbitrary or Logical? by James Chen
Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Aug 26, 08:00 GMT
Type of Session: Webinar
Dan Blystone's Weekly Briefing
Expert: Dan Blystone
Start: Tue, Aug 26, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Aug 26, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Aug 26, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Aug 26, 12:30 GMT | Dan Blystone's Weekly Briefing | Dan Blystone | WBN | |
| Tue, Aug 26, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
USD/JPY
Forex Technical Analysis − EUR/USD: (1.4715)Drop from 1.6040 highlights daily Double Top off 1.5285 (see graph: 2nd target at 1.4530) by KBC Bank
Drop from 1.6040 highlights daily Double Top off 1.5285 (see graph: 2nd target at 1.4530): 1st Support area at 1.4695 (yesterday low + daily envelope bottom), with next levels at 1.4672 (reaction low hourly), ahead of 1.4630/ .04603 (current reaction low off 1.6040/ projection target of daily channel break off 1.3358): tough on 1st attempts.
Resistance at 1.4760 (today's high?), with next levels at 1.4807/ .4817 (reaction high hourly/ daily Medium Term Moving Average↓), ahead of 1.4839/ .4843 (daily/ weekly envelope tops): tough on 1st attempts.Needs sustained trade above 1.4908 to indicate improvement on €.
- 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 − USO Establishing Near−Term Bottom? by MPTrader.com
Bank's Report
Start the Day − Economic slowdown to ‘drag on for considerable time' by Mizuho Corporate Bank
Strategy Report
Daily Recommended Trades − Daily technical Outlook − Tuesday 08.26.2008 by E−Forex
Currency Performance Report
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves down below first support level 1.4699
08/26/2008 06:35 GMT - GBP/USD
- Moves down below first support level 1.8426
08/26/2008 06:35 GMT - USD/CHF
- Moves up towards first resistant level 1.1018
08/26/2008 06:35 GMT - USD/JPY
- Moves up above pivot level 109.54
08/26/2008 06:36 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 IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Cons. | Previous | |
| Aug 26 | 08:00 | IFO − Business Climate | 97.2 | 97.5 |
| Aug 26 | 08:00 | IFO − Expectations | 90.3 | 90.0 |
EMU economic indicators - German ifo business climate (August): stabilized by BHF−Bank
In August, the German ifo business climate index could have stabilized. The US ISM manufacturing index has deteriorated slightly. The German yield spread has also done so recently, as long−term interest rates have gone down, while short−term rates have remained stable.
[ Full Story ]Top Market Movers Review
Germany GROSS DOMESTIC PRODUCT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 26 | 06:00 | Gross Domestic Product w.d.a (YoY) | 1.7% | 1.7% | 2.6% |
| Aug 26 | 06:00 | Gross Domestic Product s.a (QoQ) | -0.5% | -0.5% | 1.5% |
| Aug 26 | 06:00 | Gross Domestic Product n.s.a (YoY) | 3.1% | 3.1% | 1.8% |
German 2Q Adj GDP −0.5% On Qtr: Unch From Original Estimate (Dow Jones)
The German economy shrank in the first quarter, data from the Federal Statistics Office confirmed Tuesday. Gross domestic product fell 0.5% on the quarter between April and June when adjusted for seasonal and calendar effects after increasing 1.3% in the first quarter.
[ Full Story ]- Read the GDP data at German Statistics
- CORRECT: German 2Q Adj GDP −0.5% On Qtr, Not 1Q As Stated (Dow Jones)
- German final Q2 GDP down 0.5 pct vs Q1, confirms preliminary results (Thomson Financial News)
- German 2Q Adj GDP (QoQ) −0.5%; +1.7% (YoY) (FXstreet.com)
EMU economic indicators - Destatis will publish the detailed breakdown of the components of Q2 German GDP by BHF−Bank
Germany GFK CONSUMER CONFIDENCE SURVEY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 26 | 06:00 | Gfk Consumer Confidence Survey | 1.5 | 2.0 | 2.1 |
UPDATE: GfK: German Econ Slump Dampens Consumers' Mood (Dow Jones)
German consumer confidence weakened further as fears that Europe's largest economy will lose more steam than anticipated weighed on sentiment, German market research group GfK said Tuesday.
[ Full Story ]- Read the Consumer Confidence data at Gfk
- Germany's GfK sees Sept consumer climate index at 1.5 points vs 1.9 in Aug (Thomson Financial News)
- German GfK Sep Consumer Sentiment At 1.5 Vs 1.9 Aug (Dow Jones)
Japan CORPORATE SERVICE PRICE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 25 | 23:50 | Corporate Service Price (YoY) | 1.3% | 1.4% | 1.2% |
Japan July Corp Service Prices +1.3% On Yr; −0.1% On Mo (Dow Jones)
The Bank of Japan's corporate service price index rose 1.3% in July from a year earlier to 95.6, the central bank said Tuesday. The increase, which marked the index's 24th straight month of on−year growth, was higher than the 1.2% on−year median gain expected by economists surveyed by Dow Jones and Nikkei. Compared with June, the index fell 0.1%.
[ Full Story ]- Read the Corporate Service Price Index report at Bank of Japan
- Japan July Corporate Service Price Index Table Of Data (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 26 | 06:00 | DE | Gfk Consumer Confidence Survey (Sep) | 1.5 | 2.0 | 2.1 |
| 06:00 | DE | Gross Domestic Product n.s.a (YoY) (2Q) | 3.1% | 3.1% | 1.8% | |
| 06:00 | DE | Gross Domestic Product s.a (QoQ) (2Q) | -0.5% | -0.5% | 1.5% | |
| 06:00 | DE | Gross Domestic Product w.d.a (YoY) (2Q) | 1.7% | 1.7% | 2.6% | |
| 08:00 | DE | IFO − Business Climate (Aug) | 97.2 | 97.5 | ||
| 08:00 | DE | IFO − Expectations (Aug) | 90.3 | 90.0 | ||
| 08:00 | CH | UBS Consumption Indicator (Jul) | 2.25 | |||
| 08:30 | UK | BBA Mortgage Approvals (Jul) | 21.118 | |||
| 08:30 | UK | Nationwide Housing Prices n.s.a (YoY) (Aug) | -9.6% | -8.1% | ||
| 08:30 | UK | Nationwide Housing Prices s.a (MoM) (Aug) | -1.3% | -1.7% | ||