Thursday, Oct 02, 07:29 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Institutional Trading Strategies: The Indicators by Andrei Pehar
- Special Coverage - The Bailout Plan: The Senate has approved the bill by FXstreet.com
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International Traders Conference 2008 − October 29−31
8 experts, 3 days, 9 hours of Live Trading, 8 hours of speeches and much more!
"I will be using the very short term charts, so that we'll be seeing movement as we talk, and discussing the decisions as the market moves."
Rob Booker about Live Trading Sessions
Book your seat before it's too late... Register deadline is October 10!
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
The Trader's Edge: Bailout Plan Follow−up/ECB & NFP Preview by Ross Yamashita
The senate has approved the Bailout Plan by a landslide vote. The EUR/USD has since bounced back from hitting the low of 1.3929.
FX Market Readings: EURO and GBP are expected to firm up for new story by Dr. S. Sivaraman
FxBootcamp: Forex Video | News Trade Alert | October 2, 2008 by Wayne McDonell
Live Sessions Schedule
What may we expect for the rest of the year?
Expert: Adam Rosen
Start: Thu, Oct 2, 12:30 GMT
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Oct 2, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 1, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Thu, Oct 2, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Oct 2, 12:30 GMT | What may we expect for the rest of the year? | Adam Rosen | WBN |  |
| Thu, Oct 2, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − Psychological bottom at 1.4 has been broken by E−Forex
The Euro continues is under renewed pressure since the psychological bottom at 1.4 has been broken and the recent low at 1.3880 is on focus. A sustained break of the said support may open 1.3690. Both daily and hourly studies are bearish. On the upside, resistance starts at 1.4 followed by 1.4080 and 1.4160. Below 1.3880 support is formed at 1.3840, 1.3750 and 1.3690. Current quote is 1.3944 @06:35 GMT
- Plan denied − Politics reign − Accusations Fly by Jerry Furst, Director at Investors Education Network
- 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:
Technical Trader Closing Brief − Indices Edge Lower, But Set Up Potentially Bullish Consolidation Patterns by The Technical Trader
Daily Market Commentary − The dollar marched higher versus The European currencies on Wednesday by GFT (Global Forex Trading)
Market Session Recaps − Asia Session by FOREX.com
Banks' Analysis
Forex Technical Analysis − EUR/USD: (1.3954) by KBC Bank
Weekly Outlook
Weekly Forex Focus by Trading Central
Forex Analysts' Blog
Bailout Plan Follow−up/ECB & NFP Preview by Ross Yamashita,of Pro Pipper Trading
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Forex Signals
Daily FX Forecast by S.A.F.E. Ltd
Currencies at a Glance
- EUR/USD
- Moves down below first support level 1.3931
10/02/2008 06:53 GMT - GBP/USD
- Trades below pivot level 1.7734
10/02/2008 06:53 GMT - USD/CHF
- Trades above pivot level 1.1230
10/02/2008 06:54 GMT - USD/JPY
- Moves down below pivot level 105.86
10/02/2008 06:54 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 ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 2 | 12:30 | ECB Trichet's Speech | - | - |
| Oct 2 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.25% |
Euroland: ECB to ease faster and more by Danske Bank A/S
We have changed our interest rate projections for the ECB. We are now looking for the ECB to lower the leading rates by 25 bp in December 2008 and by a further 25 bp in both February and April 2009. Previously we expected the ECB to lower rates by 25 bp in both March and June 2009.
[ Full Story ]- PREVIEW−ECB seen on hold but under pressure to soften tone (Thomson Financial News)
- ECB WATCH: Rising Expectations of ECB Rate Cuts (Dow Jones)
Pairs to Range Trade - Passive Interest Rate Moves May Confine Canadian Dollar, Japanese Yen To Range by FXCM
Trading News Report - ECB Rate Decision on Tap − Can President Trichet Talk Up the Euro? by FXCM
Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 2 | 06:00 | Nationwide Housing Prices n.s.a (YoY) | -12.4% | -12.6% | -10.5% |
| Oct 2 | 06:00 | Nationwide Housing Prices s.a (MoM) | -1.7% | -1.7% | -1.9% |
DATA SNAP: UK House Prices Fell At Record Pace In Sep (Dow Jones)
U.K. house prices fell for the 11th straight month in September and are likely to continue to do so, the Nationwide Building Society said Thursday.
[ Full Story ]- Read the HPI data at Nationwide
- UPDATE 1−UK house price fall biggest in 17 yrs − Nationwide (Thomson Financial News)
- UK house prices fall 1.7 pct m/m in Sept−Nationwide (Thomson Financial News)
- United Kingdom Nationwide Housing Prices s.a decline 1.7% in Sept; 12.4% down year on year (FXstreet.com)
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 2 | 01:30 | Trade Balance | 1364M | - | -717M |
Australia August trade surplus A$1.364 billion (Thomson Financial News)
Australia's balance of goods and services for August, seasonally adjusted, released by the Australian Bureau of Statistics on Thursday. A Reuters poll showed market forecasts centred on a trade surplus of A$300 million ($236 million), seasonally adjusted. Estimates ranged from a deficit of A$800 million to a surplus of A$1.2 billion.
[ Full Story ]- Read the Trade Balance report at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 2 | 02:00 | NZ | ANZ Commodity Price (Sep) | -4.9% | -3.3% | |
| 05:45 | CH | SECO Economic Forecasts (Sep) | ||||
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Sep) | -12.4% | -12.6% | -10.5% | |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) (Aug) | -1.7% | -1.7% | -1.9% | |
| 08:30 | UK | Bank of England Credit Conditions Report (2Q) | ||||
| 08:30 | UK | PMI Construction (Sep) | 40.5 | |||
| 09:00 | EMU | Producer Price Index (MoM) (Aug) | -0.5% | 1.1% | ||
| 09:00 | EMU | Producer Price Index (YoY) (Aug) | 8.5% | 9.0% | ||
| 11:45 | EMU | ECB Interest Rate Decision | 4.25% | 4.25% | ||
| 12:30 | EMU | ECB Trichet's Speech | ||||