Wednesday, Nov 05, 08:45 GMT
EUROPEAN Trading Newsletter
US Presidential Election 2008
Barack Obama elected president
The dollar fell the most against the euro since the 15−nation currency's 1999 debut as the thaw in money markets reduced demand for the safety of U.S. assets. Obama led a Democratic electoral landslide that also expanded the party's majorities in both chambers of Congress and firmly repudiated eight years of Republican President George W. Bush's leadership.
U.S. elects Obama as world gripped by economic crisis (Thomson Financial News)
More News from the Editor's Desk
To Get Started
- Webinar Videos: Bollinger Bands and RSI by Valeria Bednarik
- All the events of the day in our Economic Calendar
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Forex Blogs
FXBootcamp: Pre London Outlook November 5th 2008 by Wayne McDonell
Today I take a closer look at Pound yen. We find ourselves in a 4 hour channel or what could be perceived as a longer term flag. I use Fibonacci, as well as visual support and resistance to put together a very simple trade plan. I hope you enjoy the video!!
FX Market Readings: EURO and GBP are expected to swing and firm up by Dr. S. Sivaraman
Trade Setups: Forex Video | Set ups 04 Nov ‘08 | Analysis by Phil Newton
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Nov 5, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Nov 5, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Nov 5, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Nov 5, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Nov 5, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
| Wed, Nov 5, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The Euro traded higher versus the US dollar by E−Forex
The Euro traded higher versus the US dollar on yesterday, testing offers at 1.3050 before pulling back to the 50% retracement of yesterday's upward move, at 1.2790. Volatility remains very high this week as the pair traded into a range of 520 points on yesterday, the 10 days range average being 330 points. The daily studies are slightly bullish although the upside should be treated with caution nowadays, support levels being fragile. Support is now seen at 1.2790 backed by 1.2675 and 1.2525. Resistance starts at 1.2900 followed by 1.3050 and 1.3260. Intraday studies are bearish.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, 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 | |
| Nov 5 | 09:00 | Purchasing Manager Index Services | 46.9 | 48.4 |
EMU economic indicators - No revision expected by BHF−Bank
We do not expect any significant revisions for the final RBSPMI indices for October. The European Commission is expected to revise its economic growth and inflation forecasts significantly downwards.
[ Full Story ]Top Market Movers Review
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 5 | 00:30 | Trade Balance | 1.46B | 500.00M | 1364.00M |
DATA SNAP: Australia Sep Trade Surplus A$1.46B (Dow Jones)
Australia's seasonally adjusted balance on trade in goods and services widened to a surplus of A$1.46 billion in September from a surplus of A$1.24 billion in August, the Australian Bureau of Statistics said Wednesday.
[ Full Story ]- Read the Trade Balance at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 5 | 00:00 | US | U.S. Presidential Election | |||
| 00:30 | AU | Building Permits (MoM) (Sep) | -7.2% | -1.0% | -3.7% | |
| 00:30 | AU | Building Permits (YoY) (Sep) | -21.6% | -14.3% | -8.6% | |
| 03:30 | JP | BoJ's Governor Shirakawa Speech | ||||
| 08:55 | DE | Purchasing Manager Index Services (Oct) | 49.7 | 50.2 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Oct) | 46.9 | 48.4 | ||
| 09:30 | UK | Industrial Production (MoM) (Sep) | -0.3% | -0.6% | ||
| 09:30 | UK | Industrial Production (YoY) (Sep) | -2.3% | -2.3% | ||
| 09:30 | UK | Manufacturing Production (MoM) (Sep) | -0.3% | -0.4% | ||
| 09:30 | UK | Manufacturing Production (YoY) (Sep) | -1.6% | -1.9% | ||