Wednesday, Sep 03, 07:24 GMT
EUROPEAN Trading Newsletter
Forex Blogs
Recommended Readings
Chartology: My "Lazy Days" Support, Resistance, and Trend Lines by Raghee Horner
We talked about Fibonacci−based moving averages on my post on August 29th. What's funny to me is the first time I started calling these my "Lazy Days" support, resistance, and trendlines. It was on a trip down to one of my favorite restaurants, "Lazy Days" in Islamorada.
The Disciplined Trader: Not the bottom yet on the GBP/USD by Pierre Charlebois
FX Path: Forex Profit Targets by James Chen
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Sep 3, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Sep 3, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 3, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Sep 3, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Sep 3, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Sep 3, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
Current Session: Europe
USD/CHF
Currency Majors Technical Analysis − USD CHF is in a consolidation after the last bullish movement by Mataf.net
1,1105. USD CHF is in an uptrend supported by 1H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should find a support above 1,1000. We won't take a position. The risk/reward ratio is too high to take a position..
- Not the bottom yet on the GBP/USD by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.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
Forex Technical Analysis − EUR/USD: (1.4430) Reapproaching year low of 1.4365 by KBC Bank
Currencies at a Glance
- EUR/USD
- Moves down around first support level 1.4450
09/03/2008 06:36 GMT - GBP/USD
- Moves down around first support level 1.7740
09/03/2008 06:36 GMT - USD/CHF
- Moves up around first resistant level 1.1126
09/03/2008 06:37 GMT - USD/JPY
- Moves up above pivot level 108.55
09/03/2008 06:37 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 GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Sep 3 | 09:00 | Gross Domestic Product s.a. (YoY) | 1.5% | 2.1% |
| Sep 3 | 09:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | 0.7% |
EMU economic indicators - Q2 EMU GDP is not expected to be revised significantly by BHF−Bank
The detailed breakdown of the components is likely to show that private consumption, investment and changes in inventories weighed on overall GDP growth. On the other hand, net exports probably had a favourable impact on growth, with imports declining more than exports.
[ Full Story ]Top Market Movers Review
Australia GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 3 | 01:30 | Gross Domestic Product (QoQ) | 0.3% | 0.4% | 0.6% |
| Sep 3 | 01:30 | Gross Domestic Product (YoY) | 2.7% | 2.9% | 3.6% |
DATA SNAP: Australian 2Q GDP Rises 0.3% Vs 1Q (Dow Jones)
Australia's average measure of gross domestic product rose 0.3% in the second quarter of 2008 from the first quarter and rose 2.7% from the year−earlier period, the Australian Bureau of Statistics said Wednesday. The data were lower than expected. Economists on average had expected that GDP rose 0.4% on a quarterly basis and rose 2.9% from a year earlier.
[ Full Story ]- Read the Gross Domestic Product report at Australian Bureau of Statistics
- INSTANT VIEW−Australia economic growth slows in Q2 (Thomson Financial News)
- Australia Q2 GDP rises 0.3 pct q/q, 2.7 pct y/y (Thomson Financial News)
- DATA SNAP: Australian 2Q GDP Rises 0.3% Vs 1Q −2 (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 2 | 23:01 | UK | Nationwide Consumer Confidence (Aug) | 52 | 49 | 51 |
| Sep 3 | 01:30 | AU | Gross Domestic Product (QoQ) (2Q) | 0.3% | 0.4% | 0.6% |
| 01:30 | AU | Gross Domestic Product (YoY) (2Q) | 2.7% | 2.9% | 3.6% | |
| 03:00 | NZ | ANZ Commodity Price (Aug) | -3.3% | 1.8% | ||
| 07:55 | DE | Purchasing Manager Index Services (Aug) | 50.6 | 53.1 | ||
| 08:00 | UK | Halifax House Prices (MoM) (Aug) | -1.7% | |||
| 08:00 | UK | Halifax House Prices (YoY) | -8.8% | |||
| 08:00 | EMU | Purchasing Manager Index Services (Aug) | 42.8 | 48.3 | ||
| 08:30 | UK | Purchasing Manager Index Services (Aug) | 47.0 | 47.4 | ||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (2Q)  | -0.2% | 0.7% | ||