Tuesday, Feb 24, 08:28 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: My Favorite Patterns To Trade by Derek Frey
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: The Yen Pulls Back as the Dollar Marches On… by Tim Salem
Well… the Dow falls about 3.4% as well as the S&P 500… levels we have not seen in the Indices since around 1997 on the back of all of this Macro−Economic turmoil and uncertainty.
Chartology: This is the triple top I’ve been watching on the canada…but where’s the set up? by Raghee Horner
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Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Feb 24, 15:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Feb 24, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Feb 24, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Feb 24, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Tue, Feb 24, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Tue, Feb 24, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
Yen at 11−week low past 94.64; the pair climbs towards 99.0
FXstreet.com −USD/JPY continues trading in an upward trending line. The pair has successfully broken resistance at 94.64 (Jan 9 high) as the Yen seems to have lost attraction as safe haven in favour of the Dollar. The pair has risen to a maximum of 95.35 in Asian session.
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Daily Technical Analysis − Holding up better than some other currencies by Mizuho Corporate Bank
In what could be a terribly explosive move, and in complete contrast to the cautious dips we have seen since November, we expect a break higher today (hopefully) and one must prepare for daily rallies of several cents.
Daily Recommended Trades − The Euro found intra−day support at 1.2670 by E−Forex
The Euro backed off from resistance at 1.2990 and found intra−day support at 1.2670. Resistance starts now at 1.2810/30 followed by 1.2900 and 1.2990/00. Support is seen at 1.2670 backed by 1.2570 and 1.2515.
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 IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Cons. | Previous | |
| Feb 24 | 09:00 | IFO − Expectations | 81.1 | 79.4 |
| Feb 24 | 09:00 | IFO − Business Climate | 83.1 | 83.0 |
EMU economic indicators - German ifo business climate (February): more or less unchanged by BHF−Bank
The ifo business climate for Germany might have remained more or less unchanged in February; business expectations could have improved, but the current assessment will probably have deteriorated.
[ Full Story ]Top Market Movers Review
Japan BOJ MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 23 | 23:50 | BoJ Minutes | - | - | - |
BOJ: Members Agree To Monitor Previous Rate Cut Effect (Dow Jones)
Bank of Japan board members agreed to monitor the effectiveness of a previous rate cut at their Jan. 21−22 policy board meeting, but some were skeptical about whether such measures would have a substantial impact, minutes of the meeting released Tuesday showed.
[ Full Story ]- Read the Minutes data at Bank of Japan
- BoJ Meeting's Minutes (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 23 | 23:50 | JP | BoJ Minutes | |||
| 23:50 | JP | Corporate Service Price (YoY) | -2.2% | -2.5% | -2.5% | |
| Feb 24 | 07:00 | CH | UBS Consumption Indicator (Jan) | 0.99 | 1.18 |
|
| 08:15 | CH | Employment Level (QoQ) (4Q) | 3.96M | 3.91M | 3.96M | |
| 09:00 | EMU | Current Account n.s.a (Dec) | -13.9B | |||
| 09:00 | EMU | Current Account s.a (Dec) | -14.3B | -16.0B | ||
| 09:00 | DE | IFO − Business Climate (Feb) | 83.1 | 83.0 | ||
| 09:00 | DE | IFO − Expectations (Feb) | 81.1 | 79.4 | ||
| 09:30 | UK | BBA Mortgage Approvals (Jan) | 20.2K | 22.1K | ||
| 09:30 | UK | Total Business Investment (QoQ) (4Q) | -4.2% | -1.3% | ||