Monday, Oct 06, 07:42 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: What may we expect for the rest of the year? by Adam Rosen
- Special Coverage - Will there be an European Bailout plan? by FXstreet.com
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ITC: Last Call Offer − Register deadline is October 10!
The ITC will take place in Barcelona, Woody Allen's favourite destination! by FXstreet.com
Come and enjoy the FXstreet.com International Traders Conference in one of the most exciting cities of the world, Barcelona. Meet and learn from the best FX experts at the ITC, while you can visit this unequivocally Mediterranean city.
Barcelona offers you history, culture and leisure and will surely make of your stay an unforgettable experience.
Forex Blogs
1st on Forex: The Week Ahead − EU Leaders Discuss Crisis − G7 Meets − Calendar − Webinar by Jerry Furst
Pumping in liquidity and propping up businesses was front and center this weekend as a crisis in confidence is being headed off by a symphony of concerted action by central banks and governments and the EU nations trying to maintain composure on their alliance.
FX Bootcamp: Pre London Outlook October 6th by Wayne McDonell
Chartology: Guest Post: "You…Me…The "Two W's" ….and Expectation" by CVJ by Raghee Horner
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Oct 6, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Mon, Oct 6, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Oct 6, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Oct 6, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Oct 6, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
| Mon, Oct 6, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The Euro has reached a fresh low after the 130 points gap at today's open by E−Forex
The Euro has reached a fresh low after the 130 points gap at today's open. Current levels are extremely bearish for the Euro and no signs of a rebound are seen yet. The decline will probably continue towards key support levels at 1.3330 and 1.2870 (last year's low) if support into the 1.33 region won't hold. Intraday studies are bearish and resistance emerges at 1.3600 followed by 1.3670, 1.3750 and 1.3900 higher. Minor support is seen at 1.3550/60 backed by 1.3500 and 1.3450. Downside is expected to remain under pressure and potential rallies to be limited within the 1.37−1.38 region.
- What may we expect for the rest of the year? by Adam Rosen, CEO and Co−Founder at 4xLounge
- 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:
Daily Market Briefing − US Dollar Ends Day Lower Despite House Approval Of Bailout Bill, Non−Farm Payrolls (NFPs) Disappoint by FXCM
Market Session Recaps − Asia Session by FOREX.com
Currency Majors Technical Analysis by Mataf.net
Daily Forex and Dow Jones Recommended Levels − Fxtechtrade by FXtechtrade
Bank's Analysis
Daily Technical Analysis − EUR: Do nothing and watch for a dramatic reversal this week by Mizuho Corporate Bank
Weekly Outlook
Weekly Review and Outlook − Bailout Plan Approved but Investors Unconvinced, Risk Aversion Dominates by ActionForex.com
Forex Analysts' Blog
PRE LONDON OUTLOOK OCTOBER 6TH by Wayne McDonell, FxBootcamp.com
Currency Performance
Currency Performance Report − US Session Performance by FXstreet.com
Forex Signals
Recent Recommended Trades by AceTrader
Currencies at a Glance
- EUR/USD
- Moves down below second support level 1.3599
10/06/2008 06:59 GMT - GBP/USD
- Trades around first support level 1.7591
10/06/2008 07:00 GMT - USD/CHF
- Moves up above first resistant level 1.1376
10/06/2008 07:00 GMT - USD/JPY
- Moves down below second support level 103.64
10/06/2008 07:00 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
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 7 | 05:00 | BoJ Interest Rate Decision | - | 0.5% |
UPDATE − Japan econ min sceptical of any BOJ rate cut impact (Thomson Financial News)
Japan's economics minister questioned the effectiveness of any interest rate cut by the Bank of Japan on Friday, downplaying market speculation of joint rate cuts by major central banks amid worsening financial turmoil.
[ Full Story ]- JGBs climb as BOJ rate cut expectations grow (Thomson Financial News)
- Japan Outlook: BOJ 2−Day Policy Board Meeting Begins (Dow Jones)
Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 3 | 14:00 | ISM Non−Manufacturing | 50.2 | 50.0 | 50.6 |
2nd UPDATE: US Service Sector Grows Slightly In September (Dow Jones)
The U.S. service sector managed to eek out modest gains in September and serve as a rare bright spot in an otherwise troubled economy.
[ Full Story ]- Read the Non−Manufacturing report at ISM
- UPDATE 1−U.S. service sector barely grows in September (Thomson Financial News)
- US service sector barely grows in Sept −ISM survey (Thomson Financial News)
- UPDATE: US Service Sector Grows Slightly In September (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 6 | 08:30 | EMU | Sentix Investor Confidence (Oct) | -20.2 | ||
| 12:30 | CA | Building Permits (MoM) (Aug) | 1.8% | |||
| 14:00 | CA | Ivey Purchasing Managers Index (Sep) | 51.5 | |||
| 21:00 | NZ | NZIER Business Confidence (3Q) | -64 | |||
| 23:01 | UK | NIESR GDP Estimate (Sep) | -0.2% | |||
| Oct 7 | 03:30 | AU | RBA Interest Rate Decision | 7% | ||
| 05:00 | JP | BoJ Interest Rate Decision | 0.5% | |||
| 05:00 | JP | Coincident Index (Aug)  | 103.5% | |||
| 05:00 | JP | Leading Economic Index (Aug) | 91.4 | |||
| 08:30 | UK | Industrial Production (MoM) (Aug) | -0.4% | |||