Tuesday, Feb 10, 08:41 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Institutional Trading Strategies: Pivot Points by Andrei Pehar
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Euro Fails on Initial Assault… But is The Unit Exhausted? by Tim Salem
We have a failed breach of our Resistance levels we have been discussing the past few Posts here, as the Risk Appetite Batallion is surely out on the Battlefield! This brings up an excellent "Textbook" Example of one of my favorite CVJ "Built−In Lessons"
Chartology: Short Tem Set Up: 15 min cable bear flag by Raghee Horner
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Live Sessions Schedule
Eyes on the Yen – CADJPY & GBPJPY Weekly Review
Expert: Mihai Marinescu
Start: Tue, Feb 10, 10:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Feb 10, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Feb 10, 10:00 GMT | Eyes on the Yen – CADJPY & GBPJPY Weekly Review | Mihai Marinescu | WBN |  |
| Tue, Feb 10, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Feb 10, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Feb 10, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR: Attempt longs at 1.2870; stop well below 1.2700
Mizuho Corporate Bank − Comment: Retreating from the top of a downward−sloping ‘wedge' formation on rumours of a Russian $400B bank aid package. Only on a sustained break above 1.3300 will momentum turn bullish and life get a bit more interesting.
Strategy: Attempt longs at 1.2870; stop well below 1.2700. First target 1.3000, then 1.3100.
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Weekly Forex Outlook − The GBP stretched gains for a third week after the BOE cut rates by Easy Forex
The GBP/USD gained 1.65% closing at 1.4781 after opening at 1.4537. Initial support at 1.4590 (Feb 6 low) followed by 1.4324 (Feb 4 low). Initial resistance is now at 1.4844 (Feb 6 high) followed by 1.4908 (Jan 19 high).
Market Session Recaps − Euro Drops against Yen, USD/JPY, steady by FOREX.com
The EUR/JPY followed the same path, dropping from around 119.00 to just over 116.60 during the session, with 117.50 levels entering London. USD/JPY was relatively steady despite poor corporate news as it vacillated between 90.97 and 91.65.
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
US WHOLESALE INVENTORIES
| Date (GMT) | Event | Cons. | Previous | |
| Feb 10 | 15:00 | Wholesale Inventories | -0.7% | -0.6% |
US economic indicators - Wholesale inventories could have declined by BHF−Bank
Wholesale inventories fell by a good 2% in the previous three months, and they could have declined by a further 1.0% mom in December. The same goes for total business inventories, as we already know that factory inventories went down by 1.4% mom. However, the decrease appears to be entirely due to falling prices. In real terms, inventories rose in the 4th quarter, contributing 1.3 percentage points to GDP growth.
[ Full Story ]Top Market Movers Review
Switzerland CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 10 | 08:15 | Consumer Price Index (MoM) | -0.8% | -0.5% | -0.5% |
| Feb 10 | 08:15 | Consumer Price Index (YoY) | 0.1% | 0.6% | 0.7% |
INSTANT VIEW 1−Swiss CPI inflation falls to 2−year low in Jan (Thomson Financial News)
Swiss consumer prices fell 0.8 percent on the month in January, taking the annual inflation rate to 0.1 percent, the Federal Statistics Office said on Tuesday.
[ Full Story ]- Read the CPI data at Swiss Statistics
- TABLE−Swiss CPI inflation down at 0.1 pct yr/yr in Jan (Thomson Financial News)
- Switzerland Consumer Price Index falls 0.8% in Jan; 0.1% up year on year (FXstreet.com)
Trading News Report - USD/CHF: Trading the Swiss Consumer Price Index Report by FXCM
UK BRC RETAIL SALES MONITOR − ALL
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 10 | 00:01 | BRC Retail Sales Monitor − All (YoY) | 1.1% | - | -3.3% |
DATA SNAP:UK Jan Same Store Sales Up, 1st Time Since May−BRC (Dow Jones)
U.K. retailers had a surprisingly positive start to the year, with the value of same−store sales rising in January for the first time since May. However, the British Retail Consortium warned that with job losses mounting, the pickup in sales was unlikely to be sustained. The U.K. economy is in recession, having contracted by 0.6% in the third quarter and 1.5% in the fourth quarter, its weakest performance since 1980.
[ Full Story ]- Read the Retail Sales data at BRC
- UK Jan retail sales rise for first time in 8 mths−BRC (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 10 | 05:00 | JP | Consumer Confidence (Jan) | 27.0 | 26.7 | |
| 05:00 | JP | Consumer Confidence Households (Jan) | 26.4 | 25.2 | 26.2 | |
| 08:15 | CH | Consumer Price Index (MoM) (Jan) | -0.8% | -0.5% | -0.5% | |
| 08:15 | CH | Consumer Price Index (YoY) (Jan) | 0.1% | 0.6% | 0.7% | |
| 09:30 | UK | Goods Trade Balance (Dec) | -£8.1B | -£8.3B | ||
| 09:30 | UK | Total Trade Balance (Dec) | -4.25B | -4.50B | ||
| 15:00 | US | Wholesale Inventories (Dec) | -0.7% | -0.6% | ||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Feb 8) | -52 | |||
| 23:30 | AU | Westpac Consumer Confidence (Feb) | -2.2% | |||
| Feb 11 | 00:30 | AU | Home Loans (Dec) | 3.5% | 1.3% | |