Friday, Sep 12, 07:28 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Longer-term Support and Resistance Trading: Setups and Rules by Dave Murphy
- Special Coverage - US Dollar hits one−year high vs euro by FXstreet.com
- Exclusive report - Perceiving Forex Volatility through Descriptive Statistics − Part 1 by Mark Whistler
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International Traders Conference 2008 − October 29−31
Don't miss the FX event of the year
This year's topics are Trading Psychology, Emerging Markets Currencies, Hidden Divergence, Risk Management, Range Trading, Support and Resistance, Break Out Trading Strategies and Sentiment Indicators.
And there will be 3 LIVE TRADING sessions coached by our guest speakers!
Book now your seat for the ITC 2008 and Enjoy our LAST CALL OFFER: 550 €
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
US Dollar and other moves
FX market Readings: Expected moves during week end by Dr. S. Sivaraman
EURO and GBP made the drop to break the psychological lower levels and then firmed up during US session as expected yesterday.Other majors are expected to make a small rise towards close of Japanese session and then drop quickly up to low or cut the low in some pairs and then recover slowly from mid European session.
1st on Forex: September 11th − US Dollar Stands Strong by Jerry Furst
FX Path: Webinar on Multiple Timeframe Trading by James Chen
Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Sep 12, 15:00 GMT
Type of Session: Webinar
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Sep 15, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Sep 12, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN | |
| Fri, Sep 12, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Fri, Sep 12, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Sep 12, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
Current Session: Europe
EUR/USD
Forex Technical Analysis − EUR/USD: (1.3993) New reaction low by KBC Bank
Drop from 1.6040 has sent the pair to a new reaction low, testing Long Term daily Uptrendline off 2002 (1.3932 today), but reversal day yesterday: 1st Support area at 1.3925 (reaction low hourly), with next levels at 1.3895/ .3882 (daily Bollinger bottom/ current reaction low off high + daily envelope bottom), ahead of 1.3852/ .3840 (previous high July 2007/ 50% 1.1640 to 1.6040): tough on 1st attempts, amid bullish divergence threat.
If wrong, next level at 1.3773 (daily Starc bottom), where pause favored.
- Harmonics on Gold by Sunil Mangwani, CEO at FibForex123.
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Hedging Range Trades − FILLED − US Dollar To Correct Strength Against Canadian Counterpart (Forex Hedging Strategy) by FXCM
Daily Forex Commentary − Do I hear a bid for Lehman? by fxKnight.com
Forex Analysts' Blog
Expected moves during week end by Dr. S. Sivaraman, of i−knowindices.com
Forex Signals
Support, Resistance and Range Forecast by AceTrader
Currencies at a Glance
- EUR/USD
- Moves up towards first resistant level 1.4038
09/12/2008 06:38 GMT - GBP/USD
- Moves up towards first resistant level 1.7631
09/12/2008 06:38 GMT - USD/CHF
- Moves down towards first support level 1.1336
09/12/2008 06:39 GMT - USD/JPY
- Moves up above pivot level 107.02
09/12/2008 06:39 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, GFT (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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Sep 12 | 09:00 | Industrial Production s.a. (MoM) | -0.2% | 0.0% |
| Sep 12 | 09:00 | Industrial Production w.d.a. (YoY) | -0.4% | -0.5% |
EMU economic indicators - EMU industrial production (July): down by BHF−Bank
French and Italian industrial production are expected to have decreased in July, because the correlated climate indicators continued deteriorating. EMU industrial production is also likely to have declined in July, just as most of the corresponding national figures will probably have done.
[ Full Story ]Top Market Movers Review
Japan GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 11 | 23:50 | Gross Domestic Product (QoQ) | -0.7% | -0.7% | 1.0% |
| Sep 11 | 23:50 | Gross Domestic Product Annualized | -3% | -3% | 4% |
Japan April−June Real GDP −0.7% Q/Q; Prelim 0.6% (Dow Jones)
Japan's economy shrank more than initially estimated in the April−June period, the government said Friday, citing weaker business investment and exports. The nation's gross domestic product, or the total value of goods and services produced, fell a price−adjusted 0.7% in the second quarter from the previous three months, revised GDP data released by the Cabinet Office showed. The contraction was the first in a year, and translates into an annualized 3.0% drop.
[ Full Story ]- Read the Gross Domestic Product report at Japan Cabinet Office
- UPDATE 1−Japan Q2 GDP revised down, recession looms (Thomson Financial News)
- TABLE−Japan Q2 GDP revised to −0.7 pct qtr/qtr (Thomson Financial News)
- INSTANT VIEW−Japan Q2 GDP revised down, recession looms (Thomson Financial News)
New Zealand RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 11 | 22:45 | Retail Sales (MoM) | 0.8% | -0.3% | 0.9% |
| Sep 11 | 22:45 | Retail Sales ex Autos (MoM) | -0.2% | - | 0.0% |
INSTANT VIEW−NZ July retail sales fall more than expected (Thomson Financial News)
New Zealand retail sales fell more than expected in July, led by weaker car and supermarket sales, suggesting consumer spending will be weak during the third quarter and backing views the central bank will lower interest rates further.
[ Full Story ]- Read the Retail Sales report at Statistics New Zealand
- NZ dollar steadies after tumbling on rate cut (Thomson Financial News)
- NZ dollar dips on weak data, bonds firm (Thomson Financial News)
- TABLE−NZ July retail sales down 0.8 pct (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 11 | 23:50 | JP | Gross Domestic Product (QoQ) (2Q) | -0.7% | -0.7% | 1.0% |
| Sep 12 | 04:30 | JP | Capacity Utilization (Jul) | 1.4 | -1.7 | |
| 04:30 | JP | Industrial Production (MoM) (Jul) | 1.3% | -2.2% | ||
| 04:30 | JP | Industrial Production (YoY) (Jul) | 2.4% | 0.0% | ||
| 09:00 | EMU | Employment Change (QoQ) (2Q) | 0.3% | |||
| 09:00 | EMU | Employment Change (YoY) (2Q) | 1.6% | |||
| 09:00 | EMU | Industrial Production s.a. (MoM) (Jul) | -0.2% | 0.0% | ||
| 09:00 | EMU | Industrial Production w.d.a. (YoY) (Jul) | -0.4% | -0.5% | ||
| 12:30 | CA | Capacity Utilization (2Q) | 79.5% | 79.8% | ||
| 12:30 | US | Producer Price Index (MoM) (Aug) | -0.5% | 1.2% | ||