Monday, Mar 23, 08:45 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Trading Plans - Rules for a Short Term Trader by Steve Misic
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: The Four Siblings Begin the Week Heading North by Tim Salem
We find very "subtle" corrections from Friday's Activity to be largely invalidated… with a weak Dollar and Yen continuing to be seen with Price Action. While out on my Longer−Term Views… we still really are in these large "Ranges" of Consolidative Activity… the IntraDay Time−Cycles are showing Bullish activity and even violating some "Dynamic" Levels as of this writing.
FX Market Readings: Week beginning expected market moves by Dr.S. Sivaraman
ForexHedge: FX Basket by Ron Schelling
Find other fellow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Mar 23, 09:00 GMT
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Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Mar 23, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Mar 23, 09:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Mar 23, 11:00 GMT | Choosing the right broker  | Valeria Bednarik | WBN |  |
| Mon, Mar 23, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Mar 23, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe
Forex GBP/USD: Sterling rejected at 1.4600; turns down towards 1.4490
FXstreet.com − The Pound's first attempt to break 1.4600 resistance level has rendered unsuccessful, and the pair is drawing a rejection candle extending towards 1.4490 minor resistance level.
Below there, Asian session low remains at 1.4450, and once broken that level, the Pound could find support at 20 March low at 1.4390. Below there, 1.4338 (Mar 18 high) and 1.4230 (Mar 16 high).
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EUR/USD
Currency Majors Technical Perspective − An Hourly Bullish view currently capped at initial resistance at 1.3685 Area. by FXstreet.com
An Hourly Bullish view currently capped at initial resistance @ 1.3685 Area. The Unit is consolidating on this Time−Cycle, but still Bullish in Sentiment with a potential Triple−Top Formation in view if the Pair breaches immediate−term resistance @1.3710.
USD/JPY
USD/JPY: Rejected at 96.60 resistance; Dollar returns to 95.65 support level by FXstreet.com
The USD/JPY has rallied from 95.45 to resistance level at 96.60 in Asian trading times. 96.60 resistance level has remained unbroken, and the pair has dropped to 95.64 support level ahead of the European opening times
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 TRADE BALANCE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Mar 23 | 10:00 | Trade Balance n.s.a. | -€9.0B | -€0.7B |
| Mar 23 | 10:00 | Trade Balance s.a. | -€1.9B | -€0.3B |
EMU economic indicators - EMU trade balance and current account are likely to have deteriorated by BHF−Bank
Following their seasonal patterns, the EMU trade balance and current account are likely to have deteriorated substantially in January. The decrease in French GDP in Q4 2008 might turn out to be even larger after its revision.
[ Full Story ]Top Market Movers Review
Japan BSI LARGE MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 22 | 23:50 | BSI Large Manufacturing (QoQ) | -66.0 | -60.0 | -44.5 |
Japan MOF: Big Co Jan−Mar Index −51.3 Vs Oct−Dec −35.7 (Dow Jones)
Large Japanese firms were more pessimistic about the economy in the January−March quarter than they were during the previous period, a Japanese government survey showed Monday.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 22 | 23:30 | EMU | ECB Trichet's Speech | |||
| 23:50 | JP | BSI Large Manufacturing (QoQ) (1Q) | -66.0 | -60.0 | -44.5 | |
| Mar 23 | 08:45 | UK | Nationwide Housing Prices n.s.a (YoY) (Mar) | -17.6% | ||
| 08:45 | UK | Nationwide Housing Prices s.a (MoM) (Mar) | -1.8% | |||
| 10:00 | EMU | Construction Output s.a (MoM) (Jan) | 0.1% | |||
| 10:00 | EMU | Construction Output w.d.a (YoY) (Jan) | -10.1% | |||
| 10:00 | EMU | Trade Balance n.s.a. (Jan) | -€9.0B | -€0.7B | ||
| 10:00 | EMU | Trade Balance s.a. (Feb) | -€1.9B | -€0.3B | ||
| 12:30 | CA | Leading Indicators (MoM) (Feb) | -0.9% | -0.8% | ||
| 14:00 | US | Existing Home Sales (Feb) | 4.45M | 4.49M | ||