Tuesday, Sep 16, 07:48 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Longer-term Support and Resistance Trading: Setups and Rules by Dave Murphy
- Special Coverage - US Crisis rebounds: Merryll Lynch and Lehman Brothers enter the fray
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Related Links
Forex Blogs
Ahead the Fed
1st on Forex: Markets in Turmoil Ahead of FOMC Interest Rate Decision by Jerry Furst
The Federal Reserve is scheduled to make an interest rate announcement tomorrow afternoon − and it comes at a time when Ben Bernanke is walking a tight rope of what to do − and say. The Dow dropped over 500 points on Monday − the worst drop since the NYSE reopened after the attacks of September 11th.
Trade Setups: Forex Video | Trading Tip | Staying out the market by Phil Newton
FX Market Readings: Today − the webinars 10:00 and 13:00 GMT by Phil Newton
Live Sessions Schedule
Tracking the forex market together / Part I
Expert: Dr.S.Sivaraman
Start: Tue, Sep 16, 10:00 GMT
Type of Session: Webinar
Live Coverage of FOMC US Interest Rate Announcement
Expert: Jerry Furst
Start: Tue, Sep 16, 17:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Sep 16, 10:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN |  |
| Tue, Sep 16, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Sep 16, 13:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Tue, Sep 16, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
USD/JPY
Daily Market Commentary − It's a crisis out there, and all eyes will be on the fortunes of Wa Mu by GFT (Global Forex Trading)
Dollar/yen, which had been alternating up and down days for five days, made an exceptionally aggressive decline on Monday on sales of yen crosses, and my model remains short. The downside remains favored, but at a much slower pace. The key level today is the 104.50 by a 50−point pivot, which targets 104.00 and 105.00. Initial support is at 103.78 from a pivot low. This followed by 103.40 from another 50−point pivot, which targets 102.90 and 103.90. Immediate resistance is at 105.00. The next level is 105.60 from a 50−point pivot that targets 105.10 and 106.10. Distant resistance remains at 106.75 from a 50−point pivot, which targets 106.25 and 107.25.
- Harmonics on Gold by Sunil Mangwani, CEO at FibForex123.
- Technical Analysis Bootcamp: The indicators you need to know and how to interpret them by Dan Blystone, Founder TradersLog.com
- 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 Trading Strategies − FOMC on tap after one of Wall Street's worst days in history by Saxo Bank
Daily Forex Commentary − Brace yourselves… by Jyske Bank
Forex Technical Analysis − EUR/USD: (1.4238) Sharp rebound reapproached channel top off 1.5944 by KBC Bank
Weekly Analysis
Weekly Update − The euro rebounded from its lows last week below 1.3900 by Union Bank of California
Forex Analysts' Blog
EUR/USD Trade Set−Up by Ross Yamashita,of Pro Pipper Trading
Forex Signals
Spot Forex Trades − USDCHF Signal; 100pips Crude Oil Mission Accomplished by ForexSurvivor
Currencies at a Glance
- EUR/USD
- Trades around pivot level 1.4270
09/16/2008 06:51 GMT - GBP/USD
- Trades around pivot level 1.7963
09/16/2008 06:51 GMT - USD/CHF
- Moves down towards first support level 1.1048
09/16/2008 06:52 GMT - USD/JPY
- Trades below opening price level 104.65 , below pivot level 105.36
09/16/2008 06:53 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
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Cons. | Previous | |
| Sep 16 | 09:00 | ZEW Survey − Economic Sentiment | -52.5 | -55.5 |
Friday Notes - Growth Expectations by HVB Group
Despite the de facto nationalization of the two large mortgage financing companies in the US, there is still no end in sight to the financial market crisis. Furthermore, the latest hard numbers have further increased the probability of a recession for the German economy. In contrast, the weaker EUR and the continuing pullback in the oil price likely had a positive impact on expectations. All in all, we expect a moderate improvement in the ZEW growth expectations to a still very low level.
[ Full Story ]Top Market Movers Review
Switzerland INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 07:15 | Industrial Production (YoY) | 6.1% | - | 4.3% |
| Sep 16 | 07:15 | Industrial Production (QoQ) | 8.9% | - | 0.0% |
Swiss industrial production continued increasing in the 2Q (FXstreet.com)
Industrial production continued increasing at a robust pace in Switzerland in the second quarter of the year, ant the same accounts for industrial orders, according to data released by the Swiss Confederation.
[ Full Story ]- Swiss industry remains on a growth path at Swiss Statistics
- Swiss franc soars on risk aversion (Thomson Financial News)
- Swiss Q2 industry orders rise 5.4 percent (Thomson Financial News)
- Switzerland Industrial Production increases 8.9% in the 2Q; 6.1% up year on year (FXstreet.com)
Germany CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 06:00 | Consumer Price Index (YoY) | 3.1% | 3.1% | 3.3% |
| Sep 16 | 06:00 | Consumer Price Index (MoM) | -0.3% | -0.3% | 0.6% |
Inflation slowed down in Germany in August (FXstreet.com)
Consumer inflation has eased somewhat in Germany in August, as food energy prices have grown at a slower pace than in previous months, as the latest report by German Statistics shows.
[ Full Story ]- German CPI by German Statistics
- DATA SNAP: German Final Aug CPI Confirmed,−0.3% MM, +3.1% YY (Dow Jones)
- Germany Consumer Price Index declines 0.3% in Aug; 3.1% up on the year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 16 | 06:00 | DE | Consumer Price Index (MoM) (Aug) | -0.3% | -0.3% | 0.6% |
| 06:00 | DE | Consumer Price Index (YoY) (Aug) | 3.1% | 3.1% | 3.3% | |
| 07:15 | CH | Industrial Production (QoQ) (2Q) | 8.9% | 0.0% | ||
| 07:15 | CH | Industrial Production (YoY) (2Q) | 6.1% | 4.3% | ||
| 08:30 | UK | Consumer Price Index (MoM) (Aug) | 0.5% | 0.0% | ||
| 08:30 | UK | Consumer Price Index (YoY) (Aug) | 4.6% | 4.4% | ||
| 08:30 | UK | Core Consumer Price Index (YoY) (Aug) | 1.9% | 1.9% | ||
| 08:30 | UK | DCLG House Price Index (YoY) (Jul) | -2.0% | 0.6% | ||
| 08:30 | UK | Retail Price Index (MoM) (Aug) | 0.4% | -0.1% | ||
| 08:30 | UK | Retail Price Index (YoY) (Aug) | 4.9% | 5.0% | ||