Wednesday, Nov 12, 08:38 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Institutional Trading Strategies: Money Management 101 by Andrei Pehar
- All the events of the day in our Economic Calendar
- The Forex Journal: Choose wisely Dr. Jones, choose wisely
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Forex Blogs
FX Market Readings: Market testing patience of traders... by Dr. S. Sivaraman
EURO and GBP are holding again near low set for the day,very close to earlier lows for the season.Now the traders and analysts envisage more drop following the downward channel patterns.My forecast expectatiosn are as follows.
Forex Trading Today: Is Her Majesty in Her Twighlight Years? by Tim Salem
Chartology: FX Market Pulse from today's chat by Raghee Horner
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Nov 12, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Nov 12, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Nov 12, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Nov 12, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Nov 12, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Nov 12, 14:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN |  |
Current Session: Europe
EUR/USD
Forex Technical Analysis − EUR/USD: (1.2566) Pair back in channel off 1.4867 by KBC Bank
Rebound off 1.2331 (key Reversal day) sent the pair back in the channel off 1.4867 and retested breakdown area of Oct 20 (1.3284).
Drop from 1.3294 retested 1.2527 (see graph): Support area at 1.2477 (today's low?), with next levels at 1.2454/ .2443 (long term reaction lows hourly), ahead of 1.2385 (daily envelope bottom): tough on 1st attempts.
If wrong, next levels at 1.2331/ .2324 (reaction low off high/ weekly envelope bottom) and 1.2300 (2nd target of daily channel break off 2005 low), where pause favored.
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GBP/USD
Trading News Report − U.K. Jobless Claims Expected to Rise 40.0K, Will the Pound Fall Further? by FXCM
A better than expected release would set the stage for a long GBPUSD trade, and we will look for a green, five−minute candle following the release to confirm entry on two lots of the pound−dollar. Our initial stop will be placed at the nearby swing low (or reasonable distance), and this risk will determine our first target.
AUD, NZD and CAD
Daily Currency Market Focus − What Matters More, The Good or the Bad? by GFT (Global Forex Trading)
Risk aversion continued to drive the Australian, New Zealand and Canadian dollars lower. Australian economic data has been weak with the NAB business confidence index hitting a record low despite steady employment numbers. According to comments made by Australian Finance Minister Tanner this afternoon.
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
EMU INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Nov 12 | 10:00 | Industrial Production w.d.a. (YoY) | -1.4% | -0.7% |
| Nov 12 | 10:00 | Industrial Production s.a. (MoM) | -1.2% | 1.1% |
EMU economic indicators - EMU industrial production (September): down by BHF−Bank
Italian and EMU industrial production are likely to have suffered a setback in September, because most of the correlated climate indicators deteriorated.
[ Full Story ]Top Market Movers Review
Japan CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 12 | 05:00 | Consumer Confidence | 29.8 | - | 31.8 |
| Nov 12 | 05:00 | Consumer Confidence Households | 29.4 | 30.1 | 31.4 |
UPDATE 1−Japan consumer mood hits new low on recession fears (Thomson Financial News)
Japanese consumer confidence hit an all−time low in October, a government survey showed on Wednesday, as job fears weigh and consumers doubt whether the government can protect them from the financial crisis.
[ Full Story ]Australia WESTPAC CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 11 | 23:30 | Westpac Consumer Confidence | 4.3% | - | -11.0% |
Australia consumers a bit less gloomy in Nov−survey (Thomson Financial News)
A key measure of Australian consumer confidence edged up from deep lows in November as sharp falls in interest rates and petrol prices lessened a pervasive pessimism about the economy, a survey showed on Wednesday. The Westpac−Melbourne Institute consumer sentiment index bounced 4.3 percent, or 3.5 points, to 85.5 in November.
[ Full Story ]- WRAPUP 1−Australia consumers give guarded cheer for stimulus (Thomson Financial News)
- UPDATE 1−Australia's consumers see ray of hope − survey (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 12 | 00:30 | AU | Wage Price Index (QoQ) (3Q) | 0.9% | 1.0% | 1.2% |
| 00:30 | AU | Wage Price Index (YoY) (3Q) | 4.1% | 4.2% | ||
| 05:00 | JP | Consumer Confidence (Oct) | 29.8 | 31.8 | ||
| 05:00 | JP | Consumer Confidence Households (Oct) | 29.4 | 30.1 | 31.4 | |
| 09:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Sep) | 3.6% | 3.6% | ||
| 09:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Sep) | 3.4% | 3.4% | ||
| 09:30 | UK | Claimant Count Rate (Sep) | 3.0% | 2.9% | ||
| 09:30 | UK | ILO Unemployment Rate (3M) (Oct) | 5.8% | 5.7% | ||
| 09:30 | UK | Jobless Claims Change (Oct) | 38.0 | 31.8 | ||
| 10:00 | EMU | Industrial Production s.a. (MoM) (Sep) | -1.2% | 1.1% | ||