Friday, Feb 20, 08:40 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Professional Gaps vs Novice Gaps in the Forex Markets by Sam Seiden
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Crude and CAD Wrestle and Settle into Consolidation by Tim Salem
Well… the sideways consolidative activity of these two "overall"… ( meaning out on the Weekly and Daily Views)…really is not surprising. With the consistent coiling and building of energy in both Units in the Hourly Views… we may expect an inevitable Break sometime soon… irregardless of direction.
The Disciplined Trader: EUR/USD - Correction or reversal? by Pierre Charlebois
Find other felow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
Long−term profitability in Foreign exchange Markets
Expert: Lea Peters
Start: Fri, Feb 20, 13:00 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Feb 20, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Feb 20, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Feb 20, 10:00 GMT | The "Flag" chart pattern  | Sunil Mangwani | WBN |  |
| Fri, Feb 20, 13:00 GMT | Long−term profitability in Foreign exchange Markets | Lea Peters | WBN | |
| Fri, Feb 20, 14:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
Current Session: Europe
EUR/USD: (1.2591) Near inverted channel bottom off 1.3385
KBC Bank − Back below the neckline of short term Double Top (1.2746) and near inverted channel bottom off 1.3385 (see graph)/ daily Bollinger bottom (1.2504 today). Support area at 1.2538 (daily envelope bottom), with next levels at 1.2513/ .2504 (current week low/ daily Bollinger bottom), where pause favored, amid overextended readings.
If wrong, next levels at 1.2465 (daily projection band bottom), ahead of 1.2432/ .2423 (long term daily Fibonacci Fan line/1st target off 1.2746) and 1.2399 (2nd target): tough on 1st attempts.
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GBP/USD: The Pound at 1.4220 level after dropping from 1.4445 by FXstreet.com
GBP/USD was unable yesterday to break through 1.4445 (50% Fib. Retracement of the 1.5353 in Jan 9 to 1.3500 in Jan 23 fall) and it has dropped all the way down to 1.4210.
Market Session Recaps − USD/JPY peaked above 94.45 in late NY trading by FOREX.com
Rallying above the top of the large Ichimoku ‘cloud' and holding just under January's high at 94.65. The US dollar is very overbought and we favour consolidation around current levels today.
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 PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Feb 20 | 09:00 | Purchasing Manager Index Manufacturing | 35.0 | 34.4 |
| Feb 20 | 09:00 | Purchasing Manager Index Services | 45.0 | 42.2 |
EMU economic indicators - PMI manufacturing indices Germany and EMU (February): stable at least by BHF−Bank
The French business confidence and the Purchasing Managers' Indices for the German and EMU manufacturing sector could have stabilised or even improved in February, because some of the ifo indicators relating to new orders went up in January.
[ Full Story ]Top Market Movers Review
Japan BANK OF JAPAN MONTHLY ECONOMIC SURVEY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 20 | 05:00 | Bank of Japan Monthly Economic Survey | - | - | - |
Pairs to Range Trade - Congestion In The Yen Crosses Holds Up CADJPY Range by FXCM
For the remainder of this week, only the Bank of Japan's monthly report holds any influence. Central bankers will offer their assessment of economic activity and financial health for policy officials to build legislation around and speculators to benchmark their own forecasts with.
[ Full Story ]- Read the Survey data at Bank of Japan
- Japan Outlook: All Indus Activity; BOJ Monthly Econ Report (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 19 | 23:50 | JP | All Industry Activity Index (MoM) (Dec) | -2.7% | -2.7% | -2.3% |
| Feb 20 | 05:00 | JP | Bank of Japan Monthly Economic Survey (Feb) | |||
| 08:30 | DE | Purchasing Manager Index Manufacturing (Jan) | 32.2 | 32.5 | 32.0 | |
| 08:30 | DE | Purchasing Manager Index Services (Feb) | 41.6 | 45.0 | 45.2 |
|
| 09:00 | EMU | Purchasing Manager Index Manufacturing (Feb) | 35.0 | 34.4 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Jan) | 45.0 | 42.2 | ||
| 09:30 | UK | Retail Sales (MoM) (Jan) | 1.6% | |||
| 09:30 | UK | Retail Sales (YoY) (Jan) | 2.1% | 4.0% | ||
| 12:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Jan) | -0.1% | 0.0% | ||
| 12:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Jan) | 2.2% | 2.4% | ||