Thursday, Aug 28, 07:41 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Advanced Methods for Finding Dominant Trends: Understanding Oil and FX Markets by Mark Whistler
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Forex Blogs
Recommended Readings
The Disciplined Trader: Don't Throw Good Money After Bad by Pierre Charlebois
I'm currently reading (re−reading) the Way of The Turtle. It's written by one of the original group that was mentored by some of the worlds most successful traders. I highly recommend this book. I keep finding great little gems of wisdom that all add up to a great way of approaching trading. Here's the piece I want to share today.
FX Market Readings: Action replay by Dr. S. Sivaraman
Chartology: Asian session set up: EURJPY 15 min. Continuation Rising Wedge by Raghee Horner
Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Thu, Aug 28, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Aug 28, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Aug 28, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Thu, Aug 28, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN |  |
| Thu, Aug 28, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Fri, Aug 29, 08:00 GMT | The Forex Basic Training Program − Chapter VI | Wayne McDonell | WBN | |
Current Session: Europe
GBP/USD
Technical Summary for Majors − Technical Summary for Majors by Windsor Brokers Ltd
Continues to gyrate below a steep trendline bisecting 1.9930/1.8792, 31 July/ 21−22 August lower highs, which currently resists at 1.8507. Lapse from Wednesday's 1.8489 high resulted in a fresh 2−year low at 1.8285, followed by latest bounce which is expected to fail near 1.8405/25 area. From there, the down− leg from 1.8792, 21/22 August tweezers top, would accelerate towards 1.8177−1.8200.
- 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:
FXA Column − $/swiss, time to short is close..... by FXA
Bank's Report
Start the Day − Toyota cuts forecast 2009 sales by 7% because of sharp downturn in Western markets by Mizuho Corporate Bank
Market View
Daily Market Commentary − The dollar closed slightly lower against the euro and franc on Wednesday by Global Forex Trading
Currency Performance Report
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves up around first resistant level 1.4791
08/28/2008 06:55 GMT - GBP/USD
- Trades around pivot level 1.8376
08/28/2008 06:56 GMT - USD/CHF
- Moves down around first support level 1.0919
08/28/2008 06:56 GMT - USD/JPY
- Moves down below first support level 108.82
08/28/2008 06:56 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 UNEMPLOYMENT RATE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Aug 28 | 07:55 | Unemployment Change | -10K | -20K |
| Aug 28 | 07:55 | Unemployment Rate s.a. | 7.8% | 7.8% |
EMU economic indicators - German adjusted unemployment (August): unchanged at best by BHF−Bank
German adjusted unemployment might have remained unchanged at best in August, after having fallen by 20k in July. The favourable labour market development has come to an end.
[ Full Story ]Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 28 | 06:00 | Nationwide Housing Prices s.a (MoM) | -1.9% | -1.3% | -1.7% |
| Aug 28 | 06:00 | Nationwide Housing Prices n.s.a (YoY) | -10.5% | -9.6% | -8.1% |
UK house prices fall 1.9 pct m/m in Aug−Nationwide (Thomson Financial News)
British house prices fell 1.9 percent in the month of August to post their biggest annual drop since monthly records began in 1991, the Nationwide building society said on Thursday.
[ Full Story ]- Read the House Prices data at Nationwide
Germany ILO UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 28 | 06:00 | ILO Unemployment Rate | 7.3% | - | 7.3% |
German Aug Adj Jobless Fell More Than Expected−Spokesman (Dow Jones)
Germany's jobless count fell more than economists expected, reflecting a drop in the jobless rate in seasonally adjusted terms, labor office spokesman John−Philip Hammersen told Dow Jones Newswires Thursday.
[ Full Story ]- Read the ILO Unemployment data at German Statistics
- German Jul ILO Unemployment Rate steadies at 7.3% (FXstreet.com)
Australia PRIVATE CAPITAL EXPENDITURE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 28 | 01:30 | Private Capital Expenditure | 5.7% | 2.0% | -2.5% |
DATA SNAP: Australian 2Q New Capex Rises 5.7% Vs 1Q (Dow Jones)
Private new capital spending on buildings and equipment in Australia rose 5.7% to A$22.59 billion in the second quarter of 2008 from A$21.37 billion in the first quarter, the Australian Bureau of Statistics said Thursday. Spending rose 8.1% from the second quarter of 2007. Economists on average had expected that spending in the second quarter rose 2.0% on a quarterly basis.
[ Full Story ]- Read the Private Capital Expenditure report at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 28 | 06:00 | DE | ILO Unemployment Rate (Jul) | 7.3% | 7.3% | |
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Aug) | -10.5% | -9.6% | -8.1% | |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) (Aug) | -1.9% | -1.3% | -1.7% | |
| 07:15 | CH | Employment Level (QoQ) (2Q) | 3.92M | 3.91M | 3.90M | |
| 07:55 | DE | Unemployment Change (Aug) | -10K | -20K | ||
| 07:55 | DE | Unemployment Rate s.a. (Aug) | 7.8% | 7.8% | ||
| 08:00 | EMU | M3 (YoY) (Jul) | 9.0% | 9.5% | ||
| 09:00 | EMU | Consumer Confidence (Aug) | -20 | -20 | ||
| 09:00 | EMU | Economic Confidence (Aug) | 89.1 | 89.5 | ||
| 10:00 | UK | CBI Distributive Trades Survey − Realized (MoM) (Aug) | -30 | -36 | ||