Monday, Sep 01, 07:26 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Recommended Readings
The Disciplined Trader: Hurricane Gustav Tops Crowded Events Calendar for September 1 − 5 by Jerry Furst
The US and Canada are closed for Labour Day on Monday − but subscribers to this blog know that I have called numerous currency moves in the past over such US Holiday's.
Chartology: Fibonacci−based moving averages: Examples on the daily charts by Raghee Horner
FXstreet.com Weblog: Rob Booker new Chief Currency Strategist at InterbankFX by Francesc Riverola
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Sep 1, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Sep 1, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Sep 1, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, Sep 1, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Sep 1, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Sep 1, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − Daily Technical Outlook − Monday 09.01.2008 by E−Forex
The Euro continues to trade with a heavy tone versus the US dollar and the lower part of the 1.63 zone is under pressure at the time of this writing. Support is seen at 1.4600/10 and lower at 1.4570 and 1.4500. Potential rallies should face resistance at 1.4720 and 1.4765 where first two resistance levels are noticed then higher, at 1.4810. Both intraday and daily studies are bearish and the downside remains on focus while resistance into the 1.4755 zone is intact.
- 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:
Currency Majors Technical Analysis by Mataf.net
Bank's Report
Daily Forex Commentary − Worst Outlook for the UK in 60 Years? by Jyske Bank
Currency Performance Report
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves down below first support level 1.4618
09/01/2008 06:57 GMT - GBP/USD
- Moves down below second support level 1.8078
09/01/2008 06:57 GMT - USD/CHF
- Moves up towards first resistant level 1.1058
09/01/2008 06:58 GMT - USD/JPY
- Moves down below first support level 108.38
09/01/2008 06:58 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 M4 MONEY SUPPLY
| Date (GMT) | Event | Cons. | Previous | |
| Sep 1 | 08:30 | M4 Money Supply (MoM) | - | 0.9% |
| Sep 1 | 08:30 | M4 Sterling Lending | - | £51.4B |
| Sep 1 | 08:30 | M4 Money Supply (YoY) | - | 11.2% |
Spot Forex Trades - EURGBP Momentum: OverBought! by ForexSurvivor
The breakout of EURGBP Weekly triangle, simulated with August monthly closing, tends to demolish any wide correction for September and the pair targets 8500.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 1 | 06:00 | Retail Sales (MoM) | -1.5% | -0.4% | -1.4% |
| Sep 1 | 06:00 | Retail Sales (YoY) | 0.0% | -2.2% | -3.9% |
German retail sales decrease larger than expected in July (FXstreet.com)
Retail sales have posted a larger than expected decline in July in Germany, while they remained unchanged year on year, according to data released by the Federal Statistics Office, Destatis.
[ Full Story ]- German Retail Sales by the German Statistics Office
- German retail sales unexpectedly fall in July (Thomson Financial News)
- TABLE−German July retail sales −1.5 pct m/m, unch pct y/y (Thomson Financial News)
- DATA SNAP: German Jul Retail Sales −1.5% MM, Flat On Yr (Dow Jones)
Australia CURRENT ACCOUNT BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 1 | 01:30 | Current Account Balance | -12774M | - | -19492M |
DATA SNAP: Australia 2Q Curr Acct Deficit A$12.77B (Dow Jones)
Australia's current account deficit narrowed to a seasonally adjusted A$12.77 billion in the second quarter of 2008 from a A$19.84 billion deficit in the first quarter, the Australian Bureau of Statistics said Monday. Economists on average expected a current account deficit after seasonal adjustment of A$11.8 billion in the second quarter. The current account deficit had been A$16.37 billion in the year−earlier period.
[ Full Story ]- Read the Currenct Account report at Australian Bureau of Statistics
US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 29 | 13:55 | Reuters/Michigan Consumer Sentiment Index | 63.0 | 62.0 | 61.2 |
Reuters/Univ Michigan End−Aug Sentiment 63.0; Jul 61.2 (Dow Jones)
Consumer sentiment outstripped expectations in August, amid signs of retreating inflation worries. The final version of the Reuters/University of Michigan consumer sentiment index for the current month settled at 63, from 61.2 in July.
[ Full Story ]- Read the Reuters/University of Michigan Surveys of Consumers data at Reuters
- US late Aug Reuters/Michigan consumer sentiment rises to 63.0 vs 62.0 expected (Thomson Financial News)
- Reuters/Michigan Aug Consumer Sentiment Index 63.0 from Jul 61.2 (FXstreet.com)
US economic indicators - UMI's consumer sentiment, could improve again, albeit slightly this time, to 62.0 by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 1 | 00:00 | US | Labor Day Holiday | |||
| 06:00 | DE | Retail Sales (YoY) (Jul) | 0.0% | -2.2% | -3.9% | |
| 06:00 | DE | Retail Sales (MoM) (Jul) | -1.5% | -0.4% | -1.4% | |
| 06:30 | AU | RBA Commodity Index SDR (YoY) (Aug) | 41.1% | |||
| 07:30 | CH | SVME − Purchasing Managers' Index (Aug) | 54.1 | |||
| 07:55 | DE | Purchasing Manager Index Manufacturing (Aug) | 49.9 | |||
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Aug) | 47.4 | |||
| 08:30 | UK | Index of Services (Jul) | 0.4% | |||
| 08:30 | UK | M4 Money Supply (MoM) (Jul) | 0.9% | |||
| 08:30 | UK | M4 Money Supply (YoY) (Jul) | 11.2% | |||