Wednesday, Mar 04, 08:42 GMT
EUROPEAN Trading Newsletter
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- Webinar Videos: Hedging with Options in Today's Forex by John Jagerson
- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: GBP/NZD Trade Analysis by Ross Yamashita
Our scan of the market has picked up an Ending Diagonal. This is another wave formation that we like to trade. Watch for the pair to head back up to the upper trend line and then move down quickly. Remember to use your stop losses and apply your money management.
The Day Job Trader: GBP/USD Continues to Look Weak by Ryan O'Keefe
Find other fellow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Mar 4, 10:00 GMT
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Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Mar 4, 11:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Wed, Mar 4, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Mar 4, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Mar 4, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
| Wed, Mar 4, 15:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
Current Session: Europe
USD/JPY: Dollar jumps past 99.00; on its way to 100.00
FXstreet.com − The Dollar has broken Feb 26 high at 98.70 and at the moment the pair rallies strongly past 99.00 towards psychological resistance level at 100.00.
The Dollar is well overbought in the daily and hourly charts but Dollar rally is the strongest in years, risk aversion adds support to the Dollar while hitting other currencies, specially the Yen as its economy is giving signs of a serious slowdown.
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Currency Majors Technical Analysis − The price should continue to move in 1,3960 / 1,4100 range by Mataf.net
GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration.
EURUSD completed its fall from 1.2547 to 1.2456 in a sweeping move by FOREX.com
EUR/USD soon followed and after a series of stops, completed its fall from 1.2547 to 1.2456 in a sweeping move. The pair eventually clawed its way back to 1.2530 levels as London session took their seats to trade.
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 | |
| Mar 4 | 09:00 | Purchasing Manager Index Services | 38.9 | 38.9 |
EMU economic indicators - PMIs: No revision expected by BHF−Bank
German retail sales are likely to have remained more or less unchanged in January, as retailers' business assessment improved but consumer confidence deteriorated. The Purchasing Managers' Indices for the German and EMU manufacturing sector in January are unlikely to be revised significantly.
[ Full Story ]Top Market Movers Review
Australia GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 4 | 00:30 | Gross Domestic Product (YoY) | 0.3% | 0.9% | 1.9% |
| Mar 4 | 00:30 | Gross Domestic Product (QoQ) | -0.5% | -0.1% | 0.1% |
DATA SNAP: Australian 4Q GDP Falls 0.5% Vs 3Q (Dow Jones)
Australia's average measure of gross domestic product fell 0.5% in the fourth quarter of 2008 from the third quarter and rose 0.3% from the year−earlier period, the Australian Bureau of Statistics said Wednesday.
[ Full Story ]- Read the GDP data at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 3 | 22:00 | US | ABC/Washington Post Consumer Confidence (Mar 1) | -49 | -47 | -48 |
| Mar 4 | 00:01 | UK | Nationwide Consumer Confidence (Feb) | 43 | 38 | 40 |
| 00:30 | AU | Gross Domestic Product (QoQ) (4Q) | -0.5% | -0.1% | 0.1% | |
| 00:30 | AU | Gross Domestic Product (YoY) (4Q) | 0.3% | 0.9% | 1.9% | |
| 08:55 | DE | Purchasing Manager Index Services (Feb) | 41.6 | 41.6 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Feb) | 38.9 | 38.9 | ||
| 09:30 | UK | Purchasing Manager Index Services (Feb) | 41.9 | 42.5 | ||
| 10:30 | UK | BRC Shop Price Index (YoY) (Feb) | 1.1% | |||
| 13:15 | US | ADP Employment Change | -565K | -522K | ||
| 15:00 | US | ISM Non−Manufacturing (Feb) | 42.0 | 42.9 | ||