Monday, Nov 10, 08:39 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: MONTHLY WEBINAR: Learning to Read Price Action by Chris Capre
- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: USD/CAD Outlook by Ross Yamashita
This is our wave count for the USD/CAD. As you can see, our count shows we are on the 3rd wave of a Zig Zag (ZZ) movement down. We completed the first wave (of the ZZ Wave 3) as denoted by the "1". After that, we saw the pair go back up to the 61.8 Fibonacci level from the high at Wave 2 and the low of Wave 1.
FxBootcamp: Pre London Outlook November 10th 2008 by Wayne McDonell
Forex Trading Today: St. Benedict was Right by Tim Salem
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Nov 10, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Nov 10, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Nov 10, 11:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Nov 10, 14:00 GMT | Turning the corner on the year  | Adam Rosen | WBN |  |
| Mon, Nov 10, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Nov 10, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The Euro aims slightly higher today by E−Forex
The Euro (EUR) was under pressure initially during Asia but as Tokyo stocks turned around so did the Euros fortunes. The strength was maintained as US data was very weak and Stocks held gains. German Industrial Production was worse than expected at −3.6% in September. Overall the EUR/USD traded with a low of 1.2664 and a high of 1.2951 before closing the day at 1.2745 in the New York session. Looking ahead, November Sentix are expected at −34 vs. −28 previously.
USD/JPY
Technical Summary for Majors −Firms off last Friday's decline at 96.75 by Windsor Brokers Ltd
Firms off last Friday's decline at 96.75, approximately 38.2% of 90.87/100.56 up leg, while a potential flat consolidation unfolds off 96.08/35, 29/31 October lows. Immediate upside is set at 99.93 high, 05 November, with break refocusing 100.56/57 and 100.77, 50% of 110.67/90.87 down leg.
WEEKLY OUTLOOK
Dynamic Carry Basket − Stability In Risk Appetite And Carry Unwinding Temporary As Leverage And Recession Loom by FXCM
The steady pace of carry unwinding and capital market losses has been disrupted these past few weeks as the cumulative efforts of global policy makers and central banks catches up to the market. However, with the world's recession deepening.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
UK PRODUCER PRICE INDEX − INPUT
| Date (GMT) | Event | Cons. | Previous | |
| Nov 10 | 09:30 | Producer Price Index − Output (MoM) n.s.a | -0.5% | -0.3% |
| Nov 10 | 09:30 | Producer Price Index − Output (YoY) n.s.a | - | 8.5% |
| Nov 10 | 09:30 | Producer Price Index − Input (MoM) s.a | -2.6% | -1.2% |
| Nov 10 | 09:30 | Producer Price Index − Input (YoY) n.s.a | 18.0% | 24.5% |
Trading News Report - U.K. Producer Price Index at Hand, Can the British Pound Hold Its Ground? by FXCM
Inflationary concerns for the U.K. are expected to dissipate as economists forecast the producer price index to fall to 7.4% from 8.5% in September. The significant slowdown in the domestic economy paired with falling commodity prices have certainly helped to ease price pressures for Europe's second largest economy.
[ Full Story ]Top Market Movers Review
Switzerland SECO CONSUMER CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 10 | 06:45 | SECO Consumer Climate | -27 | - | -17 |
Swiss consumer sentiment at five−year low in Oct (Thomson Financial News)
Swiss consumer confidence fell to its lowest level in five years in October as fears increased about the impact of the slowing economy on personal finances and job security, data showed on Monday.
[ Full Story ]- Read the Consumer sentiment at SECO [text in German]
- TABLE−Swiss consumer sentiment index falls to −27 in Q4 (Thomson Financial News)
Australia HOME LOANS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 10 | 00:30 | Home Loans | -2.7% | - | -2.3% |
Australian Sep Housing Finance Falls 2.7% Vs Aug (Dow Jones)
The number of housing−finance approvals in Australia fell a seasonally adjusted 2.7% in September from August, the Australian Bureau of Statistics said Monday. Economists surveyed ahead of the announcement on average had expected a fall of 2.5% in September.
[ Full Story ]- Read the Home Loans at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 10 | 00:30 | AU | Home Loans (Sep) | -2.7% | -2.3% | |
| 00:30 | AU | Investment Lending (Sep) | -1.1% | -5.0% | ||
| 06:00 | JP | Machine Tool Orders (YoY) (Oct)  | -40.4% | -20.1% | ||
| 06:45 | CH | SECO Consumer Climate (Oct) | -27 | -17 | ||
| 09:30 | UK | Producer Price Index − Input (MoM) s.a (Oct) | -2.6% | -1.2% | ||
| 09:30 | UK | Producer Price Index − Input (YoY) n.s.a (Oct) | 18.0% | 24.5% | ||
| 09:30 | UK | Producer Price Index − Output (MoM) n.s.a (Oct) | -0.5% | -0.3% | ||
| 09:30 | UK | Producer Price Index − Output (YoY) n.s.a (Oct) | 8.5% | |||
| 09:30 | EMU | Sentix Investor Confidence (Dec) | -32.0 | -27.8 | ||
| 13:15 | CA | Housing Starts s.a (YoY) (Oct) | 217.6K | |||