Tuesday, Feb 17, 08:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- EUR/USD at 3−month low and breaks support at 1.2700; 1.2550 Read all the News about currencies by FXstreet.com
- Webinar Videos: Strategies to Perceive and Defeat Forex Volatility through Traditional Indicators by Mark Whistler
- All the events of the day in our Economic Calendar
- Exclusive Content: Forex Jump-Start Video Course - New Chapter: Trading the FX market with trendlines by Adam Rosen at 4XLounge
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Forex Blogs
FX Bootcamp: Video post: A simple trade plan for Euro and Cable by Wayne McDonell
We have not had overall direction on Euro for some time and I'm hopeful that some breaks during Asia provide that direction. I really make an effort to keep things simple today, Fibonacci and support and resistance.
FX Market Readings: Time for big recovery by Dr.S. Sivaraman
Find other felow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
Eyes on the Yen – CADJPY & GBPJPY Weekly Review
Expert: Mihai Marinescu
Start: Tue, Feb 17, 10:00 GMT
Type of Session: Webinar
Forex Trend Trading
Expert: James Chen
Start: Tue, Feb 17, 17:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Feb 17, 10:00 GMT | Eyes on the Yen – CADJPY & GBPJPY Weekly Review | Mihai Marinescu | WBN |  |
| Tue, Feb 17, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Feb 17, 13:00 GMT | Live Intraday trading using technical analysis | Peter Leonidou | WBN | |
| Tue, Feb 17, 14:00 GMT | Taking a New Look at Bollinger Bands: New Methods & Techniques Revealed − Part II | S.A Ghafari | WBN | |
Current Session: Europe
FOREX.com − EUR/USD and its dramatic descent to lows not seen in almost two months as stop losses greased the tracks on a ride from just over 1.2800 to depths just under 1.2640. EUR/JPY dropped like a stone as well on the Euro weakness, falling from 117.45 to lows of just near 116.40 before a nice rebound on Yen selling. The pair is near 117.00as of this writing.
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Short Term Analysis − Cable should try again this week to form an interim low by Mizuho Corporate Bank
Ducking below the headlines as Eastern Europe and the Euro take the brunt of the selling. Cable should try again this week to form an interim low, hopefully around retracement support but maybe we shall have to live through a nasty ‘spike low'.
Currency Majors Technical Analysis − USD JPY broke 92,00 resistance by Mataf.net
The euro moved lower vis−à−vis the U.S. dollar today as the single currency tested bids around the US$ 1.2725 level and was capped around the $1.2825 level.
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
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Cons. | Previous | |
| Feb 17 | 10:00 | ZEW Survey − Economic Sentiment | -25 | -31 |
Friday Notes - The ZEW growth expectations now extend into the second half of the year by UniCredit Group
Contrary to the recent bleak hard data, numerous leading indicators around the globe are pointing slightly north at the beginning of the year. This is nurturing the hope that the economy will at least stabilize after mid−year. The ZEW growth expectations now extend into the second half of the year. Despite the strong increase already in January, the level remains well below the long−term average of over +25. For that reason, we also expect a substantial increase in the growth expectations in February.
[ Full Story ]Sunrise Market Commentary - Exposure to Central Europe drives intra−EMU spreads wider by KBC Bank
EMU economic indicators - German ZEW economic sentiment (February): up by BHF−Bank
Top Market Movers Review
Canada FOREIGN INVESTMENT IN CANADIAN SECURITIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 16 | 13:30 | Foreign investment in Canadian securities | -$2.835B | -$2.500B | -$4.298B |
| Feb 16 | 13:30 | Canadian Investment in Foreign Securities | $6.378B | - | $2.613B |
USD/CAD: Dollar trying to find support at 1.2450 (FXstreet.com)
The USD has moved slowly but steady against its Canadian counterpart, from daily low at 1.2395 breaking resistance level at 1.2450 in Early U.S session, to reach as high as 1.2487 before dropping back to test 1.2450 support.
[ Full Story ]- Read the TICs data at Statistics Canada
- Foreigners sold C$ −2.835 B Canadian securities in December (FXstreet.com)
- Canadians sold C$6.378 B in Foreign Securities in Dec (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 16 | 14:45 | EMU | ECB Trichet's Speech | |||
| 23:50 | JP | Tertiary Industry Index (MoM) (Dec) | -1.6% | -1.6% | -1.1% |
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| Feb 17 | 00:30 | AU | RBA Meeting's Minutes | |||
| 08:15 | CH | Adjusted Real Retail Sales (YoY) (Dec) | 3.6% | -1.4% | ||
| 09:30 | UK | Consumer Price Index (MoM) (Jan) | -1.0% | -0.4% | ||
| 09:30 | UK | Consumer Price Index (YoY) (Jan) | 2.7% | 3.1% | ||
| 09:30 | UK | Core Consumer Price Index (YoY) (Jan) | 0.9% | 1.1% | ||
| 09:30 | UK | DCLG House Price Index (YoY) (Jan) | -10.1% | -8.6% | ||
| 09:30 | UK | Retail Price Index (MoM) (Jan) | -1.5% | -1.4% | ||
| 09:30 | UK | Retail Price Index (YoY) (Jan) | -0.1% | 0.9% | ||