Wednesday, Feb 18, 08:30 GMT
EUROPEAN Trading Newsletter
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- EUR/USD: The Euro hits 1.2560 before partial recovery above 1.2600 Read all the News about currencies by FXstreet.com
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: EUR/JPY Trade Analysis by Ross Yamashita
We had a nice weekend here and am just catching up with all the markets. Our scan of the markets has pulled up the EUR/JPY. We first pulled up a daily chart and see that the overall trend seems to be down. We took it down to the hourly (H1) chart for a closer look and have attached the screen capture here.
The Disciplined Trader: EUR/USD poised for break-out/reversal by Pierre Charlebois
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Main Fundamental theme in the Currency market
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| Wed, Feb 18, 14:00 GMT | Main Fundamental theme in the Currency market | Terri Belkas | WBN | |
| Wed, Feb 18, 15:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
Current Session: Europe
Euro hit early 10 week lows in Asia today
FOREX.com − The EUR/USD hit an early low within the first hours of trading, touching 1.2558 as stops were triggered.
The pair was bid from those levels with profit taking and talk of options below.
EUR/USD tapped highs near 1.2612, but failed to break out from that area until early London, where I just saw the pair go 15 bid. EUR/JPY was in a range between 115.95 and 116.38 for the Asia session, but looked to break out early in London as well.
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Daily Technical Analysis − Hovering cautiously above trendline resistance by Mizuho Corporate Bank
Hovering cautiously above trendline resistance, slightly overbought, and we favour a short squeeze to the top of the large Ichimoku ‘cloud'. Upside pressure increases if we hold above the bottom of the ‘cloud' at 91.00.
Pairs to Range Trade − Risk Trends A Deciding Factor For EURJPY Range by FXCM
The EURJPY range setup that we see today is very similar to the GBPCHF position we laid out yesterday. High volatility and a clear correlation to vague risk trends makes make this another short−term setup that requires a sound strategy.
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 BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Cons. | Previous | |
| Feb 18 | 09:30 | Bank of England Minutes | - | - |
Daily Market Briefing - BOE Minutes Could Impact Trade on Wednesday by FXCM
The BOE has indicated that they expect inflation to fall much further this year, but the direction of interest rate expectations for the UK may hinge upon the release of the BOE's meeting minutes on Wednesday at 4:30 ET. During the February meeting, the BOE's Monetary Policy Committee (MPC) slashed the Bank Rate by 50 basis points to yet another record low of 1.00 percent, as expected.
[ Full Story ]Economics Weekly - Threat of deflation leading BOE to money creation by Lloyds TSB Financial Markets
Top Market Movers Review
Australia WESTPAC LEADING INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 17 | 23:30 | Westpac Leading Index (MoM) | -0.4% | - | -1.0% |
Australian Dec Leading Economic Index −1.2% Annualized (Dow Jones)
A leading index of the Australian economy contracted at an annualized rate of 1.2% in December, compared with a contraction of 0.5% in November. The index of where the economy is headed in the next three to nine months is compiled monthly by Westpac Banking Corp. and Melbourne University's Institute of Applied Economic and Social Research.
[ Full Story ]- Read the Leading data at Melbourne Institute
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 17 | 23:30 | AU | Westpac Leading Index (MoM) (Dec) | -0.4% | -1.0% | |
| Feb 18 | 00:30 | AU | Real Retail Sales (QoQ) (4Q) | 0.8 | 1.0 | 0.1 |
| 05:00 | JP | Coincident Index (Feb) | 92.4% | 92.3% |
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| 05:00 | JP | Leading Economic Index (Dec) | 80.0 | 79.8 |
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| 09:30 | UK | Bank of England Minutes | ||||
| 10:00 | EMU | Construction Output w.d.a (YoY) (Dec) | -4.7% | |||
| 11:00 | UK | CBI Industrial Trends Survey − Orders (MoM) (Feb) | -45 | -48 | ||
| 12:00 | US | MBA Mortgage Applications (Feb 13) | -24.5% | |||
| 13:30 | US | Building Permits (MoM) (Jan) | 0.530M | 0.549M | ||
| 13:30 | US | Housing Starts (YoY) (Jan) | 0.53M | 0.55M | ||