Tuesday, Oct 21, 07:19 GMT
EUROPEAN Trading Newsletter
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Check out the new CAG!
The currencies revolution arrives at FXstreet.com
New Currencies at a Glance with all the technical studies you need for your trading plan. Review the market info of the top 31 currency pairs including the hottest pairs of the past week: EUR/USD, GBP/USD, USD/JPY and EUR/CHF.
Moreover data such as live market quotes, forecast, analysts comments, breaking stories and Economic Calendar can be extremely efficient tools for your trading plan.
DISCOVER THE NEW CAG
Forex Blogs
The Trader's Edge: CHF/JPY Trade Set Up by Ross Yamashita
We actually have a trade set up on the CHF/JPY hourly chart. This will be a good example of putting some elements together to form a trade set up. First off, we're in the 3rd wave of a Zig Zag (ZZ), which is one of the best waves to trade with.
FX Path: GBP/USD − Broken Triangle by James Chen
Trade Setups: Back in the saddle by Phil Newton
Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Oct 21, 08:00 GMT
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Tue, Oct 21, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Oct 21, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Oct 21, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Oct 21, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Oct 21, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: Europe
EUR/USD
Daily Technical Analysis − EUR: Do as little as possible by Mizuho Corporate Bank
Hopeless attempt at basing as French and German banks get money thrown at them. The Euro is still terribly oversold and bearish momentum is very strong. One−month at−the−money implied volatility at 16.60% is well below last week's record 22.75% but remains higher than at any time in its history. Again watch for cautious attempts at basing.
Strategy: Do as little as possible. For those who have to: attempt small longs at 1.3300; stop below 1.3250. First target 1.3530, then 1.3600.
- From Mickey Mouse to the Federal Reserve by Jerry Furst, Director at Investors Education Network
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest 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:
USD/JPY Daily Outlook − USD/JPY Daily Outlook by AceTrader
Currency Majors Technical Analysis by Mataf.net
Banks' Analysis
Today's Technical Trading Points by Danske Bank A/S
Forex Technical Analysis − EUR/USD: (1.3338) Back in channel off 1.4867 by KBC Bank
Weekly Outlook
Weekly Technical Commentary by Mizuho Corporate Bank
Weekly Update − The peso began last week at a three−week low of 12.25 vs. USD by Union Bank of California
Forex Signals
Daily FX Forecast by S.A.F.E. Ltd
Currencies at a Glance
- EUR/USD
- Moves sideways with low volatility. Immediate support is seen at 1.3285, while resistance is seen at 1.3400.
10/21/2008 06:36 GMT - GBP/USD
- Rises gradually with low volatility. Immediate support is seen at 1.7100 while intra resistance is seen at 1.7344.
10/21/2008 06:39 GMT - USD/CHF
- Moves upwards with low volatility. MAs are rising gradually.
10/21/2008 06:41 GMT - USD/JPY
- Moves downwards with low volatility. Immediate support is seen at at 101.34, while intraday resistance is seen at 102.42.
10/21/2008 06:42 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 CURRENT ACCOUNT N.S.A
| Date (GMT) | Event | Cons. | Previous | |
| Oct 23 | 08:00 | Current Account n.s.a | - | -1.1 |
| Oct 23 | 08:00 | Current Account s.a | -5.0B | -1.7 |
EMU economic indicators - The EMU current account will probably have deteriorated in August by BHF−Bank
The EMU current account will probably have deteriorated in August, like the corresponding German figure and the EMU trade balance.
[ Full Story ]Top Market Movers Review
Switzerland TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 06:15 | Trade Balance | 1.440B | 1.200B | 1.427B |
Swiss trade surplus remains unchanged in September (FXstreet.com)
Swiss foreign trade has reached a 1.44 billion surplus in September, up from the 1.42 billion surplus posted in August, according to the Swiss Customs Office. Imports have increased 7.2% in the last 12 months, while exports have posted a 4.8% increase from September 2007.
[ Full Story ]- Read the Trade Balance data at Swiss Statistics [text in German]
- Switzerland Trade surplus, practically unchanged at 1.44 B in Sep (FXstreet.com)
Australia RBA MEETING'S MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 00:30 | RBA Meeting's Minutes | - | - | - |
Australia c.bank slashed rates to combat grim global outlook (Thomson Financial News)
Australia's central bank slashed interest rates this month because turmoil in financial markets threatened the outlook for the global economy and warranted a "significantly less restrictive stance of monetary policy", minutes of its October policy meeting showed on Tuesday. The policy board of the Reserve Bank of Australia (RBA) also noted that the high level of interest rates meant that monetary policy had significant capacity to provide stimulus, though it cautioned against expecting another cut of the size of October's dramatic 100 basis−point easing in the cash rate to 6.0 percent.
[ Full Story ]- Read the Meeting's Minutes at RBA
New Zealand CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 20 | 21:45 | Food Price Index (MoM) | 0.6% | - | 2.7% |
| Oct 20 | 21:45 | Consumer Price Index (QoQ) | 1.5% | 1.5% | 1.6% |
NZ Q3 consumer price index up 1.5 pct (Thomson Financial News)
Third quarter consumers price index (CPI), released by Statistics New Zealand on Tuesday. Economists polled by Reuters had forecast a rise of 1.5 percent for the quarter and a rise of 5.1 percent from the same quarter a year earlier. The Reserve Bank of New Zealand forecast a rise of 1.3 percent for an annual rate of 4.9 percent. Statistics New Zealand also released the September month food price index, which makes up 17.8 percent of the CPI.
[ Full Story ]- Read the Consumer Price Index report at Statistics New Zealand
- NZ dollar eases after inflation hits 18−year high (Thomson Financial News)
- UPDATE 1−NZ annual inflation hits 18 year high in Q3 (Thomson Financial News)
- INSTANT VIEW 3−NZ inflation at 18 year high in Q3 (Thomson Financial News)
Trading News Report - New Zealand Dollar: Will Higher Inflation Boost the Kiwi? by FXCM
Pairs to Range Trade - NZDUSD Offers Short−Term Range Opportunities Even As Major Breakout Looms by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 21 | 00:30 | AU | New Motor Vehicle Sales (MoM) (Sep) | 0.4% | -3.5% | |
| 00:30 | AU | RBA Meeting's Minutes (Oct) | ||||
| 02:00 | NZ | Credit Card Spending (Sep) | 2.7% | 2.7% |
||
| 06:15 | CH | Trade Balance (Sep) | 1.440B | 1.200B | 1.427B | |
| 09:00 | EMU | Construction Output s.a (MoM) (Aug) | -0.6% | |||
| 09:00 | EMU | Construction Output w.d.a (YoY) (Aug) | -2.4% | |||
| 10:00 | UK | CBI Industrial Trends Survey − Orders (MoM) (Oct) | -30 | -26 | ||
| 13:00 | CA | BoC Interest Rate Decision | 2.0% | 2.5% | ||
| 19:10 | UK | BoE's Governor King Speech | ||||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Oct 19) | -43 | |||