Tuesday, Sep 23, 07:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: MONTHLY WEBINAR: Common Sense Fundamentals and Technicals for Real Traders by Mark Whistler
- Special Coverage - Financial Crisis: The US Government's ultimate intervention by FXstreet.com
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Forex Blogs
The Trader's Edge: USD/CHF Long−Term Trade by Ross Yamashita
Hello everyone. We hope everyone had a nice weekend. I'm sure with all the financial news going on throughout the U.S. at this time, everything is in a shake up.
1st on Forex: Bernanke & Paulson Due to Speak − Hedge Funds Next? by Jerry Furst
Forexology: Harmonics, symmetrical moves and support areas by Sunil Mangwani
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Sep 23, 14:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Sep 23, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Sep 23, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Sep 23, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Sep 23, 13:00 GMT | Principles of Point & Figure Trading in Forex | James Chen | WBN | |
| Tue, Sep 23, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
EUR/USD
Daily Market Commentary − The dollar collapsed on Monday by GFT (Global Forex Trading)
The dollar collapsed on Monday, reflecting extreme gains in oil and gold, amid unclear details about the Treasury's plans to save banks by removing their debilitating mortgage assets and fears that a recession in the US is finally inevitable.
The euro/dollar surged on Monday and my model remains long. More strength is likely, but at a reduced pace. Initial resistance is at 1.4960. Above 1.5020, resistance is now seen at 1.5215. Immediate support is at 1.4705. The next level is 1.4655. This is followed by 1.4485.
- Fed Special Coverage Transcript by Valeria Bednarik
- 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
Technical Trader Closing Brief − Return to Sender! by The Technical Trader
Daily Recommended Trades − Daily Technical Outlook − Tuesday 09.23.2008 by E−Forex
Banks' Analysis
Today's Technical Trading Points by Danske Bank A/S
Daily Forex Commentary − The USD remains under pressure by Jyske Bank
Forex Analysts' Blog
Volatile moves for a day by Dr. S. Sivaraman, of i−knowindices.com
Forex Signals
Daily FX Forecast by S.A.F.E. Ltd
Currencies at a Glance
- EUR/USD
- Trades above pivot level 1.4692
09/23/2008 07:04 GMT - GBP/USD
- Trades above pivot level 1.8481
09/23/2008 07:05 GMT - USD/CHF
- Trades below pivot level 1.0829
09/23/2008 07:05 GMT - USD/JPY
- Trades around opening price level 105.51 , below pivot level 105.94
09/23/2008 07:05 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 PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Sep 23 | 08:00 | Purchasing Manager Index Services | 48.0 | 48.5 |
| Sep 23 | 08:00 | Purchasing Manager Index Manufacturing | 47.3 | 47.6 |
Friday Notes - EMU PMIs: No Relief by HVB Group
We expect the factory PMI to resume declining in September, as the flow of new orders dries up and inventories continue climbing. We suspect manufacturing activity has not hit bottom yet.
[ Full Story ]Top Market Movers Review
Germany PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 07:30 | Purchasing Manager Index Services | 49.3 | 50.8 | 51.4 |
| Sep 23 | 07:30 | Purchasing Manager Index Manufacturing | 48.1 | 49.2 | 49.7 |
German PMI shows contraction in manufacturing services in September (FXstreet.com)
German manufacturing and services sectors' activity failed to grow in September, according to the latest preliminary Purchasing Managers Index. September's flash estimations have been worse than expected in both cases.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 22 | 12:30 | CA | Retail Sales (MoM) (Jul) | 0.1% | 0.2% | 0.5% |
| 12:30 | CA | Retail Sales ex Autos (MoM) (Jul) | 0.4% | 0.3% | 1.4% | |
| Sep 23 | 07:30 | DE | Purchasing Manager Index Manufacturing (Sep)  | 48.1 | 49.2 | 49.7 |
| 07:30 | DE | Purchasing Manager Index Services (Sep) | 49.3 | 50.8 | 51.4 | |
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Sep) | 47.3 | 47.6 | ||
| 08:00 | EMU | Purchasing Manager Index Services (Sep) | 48.0 | 48.5 | ||
| 08:30 | UK | BBA Mortgage Approvals (Aug) | 22.4 | |||
| 09:00 | EMU | Industrial New Orders (YoY) (Jul) | -3.9% | -7.4% | ||
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Jul) | -0.7% | -0.3% | ||
| 11:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Aug) | 0.1% | 0.1% | ||