Friday, Mar 06, 08:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Catching Redfish off the pool: Trend Lines and Technical Indicators by S.A. Ghafari
- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: USD/CHF Trade Analysis & NFP Preview by Ross Yamashita
Here is an analysis on the USD/CHF and we'll show you how you can work in trend lines with your Elliott Wave analysis. First, let's take a look at the trend lines. What we did is simply draw a trend line and duplicate the exact trend line and place them on different trend lines on the chart.
Forex Trading Today: NFP on the Way with More Negativity… Equaling More Dollar Strength? by Tim Salem
Find other fellow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 34th Edition
Expert: Wayne McDonell
Start: Fri, Mar 6, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Mar 6, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 34th Edition | Wayne McDonell | WBN | |
| Mon, Mar 9, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Mar 9, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Mar 10, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
Current Session: Europe
EUR/USD: Euro at intra−week high, attacks 1.2700 resistance level
FXstreet.com − EUR/USD has posted an strong rebound from yesterday's low at 1.2480 after Trichet's speech, to rally, past intra –week high at 1.2675 (Mar 3 high) and launch an assault to 1.2700 resistance level ahead of the European session opening.
The Euro has opened a bullish move from Mar 3 low at 1.2455; the lowest point of its bearish move from 1.2990 high (Feb 23 high). The pair has to jump over 1.2700 first and then 1.2750 resistance level will be on sight, above here 1.2810 (Feb 10 high) and what seems an strong resistance level, 1.2875.
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Daily Technical Analysis − Allow for sideways work roughly between 97.00 and 98.50 by Mizuho Corporate Bank
Today's dip below 98.00 may mean we have to review our medium term view that we only revised yesterday. Rather than seeing this as lack of conviction we see it as a symptom of an FX market that is likely to reverse and turn on a dime. Be flexible.
GBP/USD
GBP/USD: Pound picks up from 6−weeks low, right below 1.4290 by FXstreet.com
GBP/USD declined to an intra−day low of 1.4035 after the BoE cut rates to 0.5% but it has rallied during Asian session, having broken 1.4190/1.4200 resistance level, the Sterling trades around 1.4275 on its way to 1.4290 resistance.
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
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| Mar 6 | 13:30 | Nonfarm Payrolls | -625K | -598K |
| Mar 6 | 13:30 | Average Hourly Earnings (YoY) | - | 3.9% |
| Mar 6 | 13:30 | Average Hourly Earnings (MoM) | 0.3% | 0.3% |
| Mar 6 | 13:30 | Unemployment Rate | 7.9% | 7.6% |
Friday Notes - Another ugly jobs report expected for February by UniCredit Group
The bulge in initial and continued claims for unemployment compensation will be reflected in another ugly jobs report for February. The unemployment rate is feeling the impact, climbing sharply in the past few months. We expect that the widening scope of the recession will be confirmed by another drop in the diffusion indexes that the Bureau of Labor Statistics tabulates.
[ Full Story ]Forex Trading Strategies - The quiet before (another) storm? Non−farm payrolls hold the key by Saxo Bank
Economics Weekly - BoE and ECB to cut interest rates, weak US jobs data expected by Lloyds TSB Financial Markets
Top Market Movers Review
US FACTORY ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 15:00 | Factory Orders | -1.9% | -2.0% | -4.9% |
DATA SNAP: US Jan Factory Orders Down Less Than Expected (Dow Jones)
Factory orders continued their declining streak, tumbling for a record sixth consecutive month in January. However, the decline was less than had been expected.
[ Full Story ]- Read the Factory Orders data at Census Bureau
- CORRECT:DATA SNAP:US Jan Factory Orders Down Less Than Expected (Dow Jones)
- CORRECT: Table Of Data On Factory Orders From Commerce (Dow Jones)
- Table Of Data On Factory Orders From Commerce (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 5 | 15:00 | US | Factory Orders (Jan) | -1.9% | -2.0% | -4.9% |
| 15:00 | CA | Ivey Purchasing Managers Index (Feb) | 45.2 | 37.5 | 36.1 | |
| Mar 6 | 08:15 | CH | Consumer Price Index (MoM) (Feb) | 0.2% | -0.1% | -0.8% |
| 08:15 | CH | Consumer Price Index (YoY) (Feb) | 0.2% | 0.0% | 0.1% | |
| 09:30 | UK | Producer Price Index − Input (MoM) s.a (Feb) | 1.5% | |||
| 09:30 | UK | Producer Price Index − Input (YoY) n.s.a (Feb) | 1.1% | 2.3% | ||
| 09:30 | UK | Producer Price Index − Output (MoM) n.s.a (Feb) | 0.1% | |||
| 09:30 | UK | Producer Price Index − Output (YoY) n.s.a (Feb) | 3.1% | 3.5% | ||
| 13:30 | US | Average Hourly Earnings (MoM) (Feb) | 0.3% | 0.3% | ||
| 13:30 | US | Average Hourly Earnings (YoY) (Feb) | 3.9% | |||