Monday, Nov 24, 09:39 GMT
EUROPEAN Trading Newsletter
Forex Essentials Course
21 lessons to get started in the Forex Market by LearningMarkets.com
From the Basics to the Portfolio Management, going through key topics for your learning such as Margin and Leverage, Support and Resistance, Fibonacci Analysis or Reversal Patterns. Specially built for beginners and for those who want to refresh their knowledge.
Definitely an extensive review of the Forex that you can't miss.
More educational resources in the education section
To Get Started
- Webinar Videos: Tell me the Fibonacci ratios don't work - Harmonic Patterns by Sunil Mangwani
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Forexology: Fear and greed by Sunil Mangwani
This is an article which I came across on one of the forums & requested permission to put it up on my blog. I feel that this explains the basic factors of what makes the market move. s I often mention while discussing the harmonic patterns − "what is the reason for these patterns to form?"
FXBootcamp: Weekly Pivot Points by Wayne McDonell
Trading Setups: Forex Video - Set ups 24 Aug ‘08 - Analysis by Phil Newton
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Nov 24, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Nov 24, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Nov 24, 11:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Nov 24, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Nov 24, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Nov 25, 11:00 GMT | Trade What Is Real, Not What You Feel: Quantifying Supply (resistance) and Demand (support) In The Forex Markets | Sam Seiden | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The Euro trades on the upside by E−Forex
The Euro trades on the upside, pushing towards the resistance at 1.2700 which is followed by 1.2825 and 1.2925 higher. Daily sentiment is slightly bullish but has to be confirmed by a sustained break of resistance at 1.2810/25. Support is seen at 1.2575 backed by 1.2500 and 1.2420. Hourly studies are bullish at the time of this report and will remain so while holding above 1.2575. Below 1.2575 should resume downtrend. Current quote is 1.2626 @07:35 GMT
.
USD
Forex Trading Strategies − USD seems to be losing steam, but still trading in a range by Saxo Bank
If we are seeing a wider attempt at a little risk appetite here in FX−land, then we might look for the likes of GBPUSD and AUDUSD to perform best to the upside.
EUR/JPY
Daily Forex Technical Report − Dollar and Yen Soft in Range, Germany Ifo Eyed by ActionForex.com
EUR/JPY's recovery from 116.47 continues today but struggles to take out 4 hours 55 EMA (now at 121.51). Intraday outlook remains neutral for the moment. On the upside, above 124.41 resistance will suggest that fall from 131.82 has completed .
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 NEW ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Nov 24 | 10:00 | Industrial New Orders (YoY) | -1.5% | -6.6% |
| Nov 24 | 10:00 | Industrial New Orders s.a. (MoM) | -2.8% | -1.2% |
EMU economic indicators - EMU industrial new orders are expected to have decreased further in September by BHF−Bank
EMU industrial new orders are expected to have decreased further in September, as German industrial new orders went down sharply. The EMU current account will probably have improved in September, like the corresponding German figure and the EMU trade balance.
[ Full Story ]Top Market Movers Review
EMU CURRENT ACCOUNT N.S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 24 | 09:00 | Current Account n.s.a | -6 | - | -6B |
| Nov 24 | 09:00 | Current Account s.a | -10.6 | - | -5.3B |
DATA SNAP: Wider Goods Deficit Pushes Euro−Zone Deficit Out (Dow Jones)
The euro zone's current account deficit widened sharply for the second month running in September as the deficit in goods almost trebled.
[ Full Story ]- Euro area balance of payments (September 2008) at ECB
- Euro Zone current account deficit widens in September (FXstreet.com)
- EU Sep Current Account deficit widens 10.6B vs 5.3B in Aug (FXstreet.com)
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 24 | 09:00 | IFO − Business Climate | 85.8 | 88.7 | 90.2 |
| Nov 24 | 09:00 | IFO − Expectations | - | 81.0 | 81.4 |
German Nov Ifo index falls to lowest since Feb 1993 (Thomson Financial News)
German corporate sentiment fell by much more than expected in November to its lowest level since February 1993 as firms grew more gloomy about the business outlook, a closely watched survey showed on Monday.
[ Full Story ]- Read the official data at Ifo
- DATA SNAP: German Nov Ifo Drops To Lowest Level Since Feb 93 (Dow Jones)
- TABLE−German Nov Ifo business climate index falls (Thomson Financial News)
- Germany IFO − Business Climate falls to 85.8 in Nov vs 90.2 in Oct (FXstreet.com)
Daily Forex Technical Report − Dollar and Yen Soft in Range, Germany Ifo Eyed by ActionForex.com
Trading News Report - EUR/USD: Trading the German IFO Business Confidence Survey by FXCM
Friday Notes - German IFO: Nosediving by HVB Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 24 | 09:00 | EMU | Current Account n.s.a (Sep) | -6 | -6B |
|
| 09:00 | EMU | Current Account s.a (Sep) | -10.6 | -5.3B |
||
| 09:00 | DE | IFO − Business Climate (Nov) | 85.8 | 88.7 | 90.2 | |
| 09:00 | DE | IFO − Expectations (Nov) | 81.0 | 81.4 | ||
| 10:00 | UK | Gordon Brown's Speech (Oct) | ||||
| 10:00 | EMU | Industrial New Orders (YoY) (Sep) | -1.5% | -6.6% | ||
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Sep) | -2.8% | -1.2% | ||
| 15:00 | US | Existing Home Sales (MoM) (Oct) | -3.5% | 5.5% | ||
| 15:30 | UK | Pre−Budget Report | ||||
| 17:00 | US | Barack Obama Speech | ||||