Tuesday, Mar 24, 08:42 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
The Trader's Edge: What's next for the EUR/USD? by Ross Yamashita
Retracing almost all the way back up from yesterday's session, the bulls seem to still have control and look for a continued movement up. With many Eurozone and UK PMI coming out later on today, we may see a small retracement down before heading back up again.
Trading for a Living: Busy European calendar for the day by David Aranzabal
Forex Trading Today: The Four Travelers: EUR/JPY, GBP/JPY, AUD/JPY, and NZD/JPY by Tim Salem
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Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Tue, Mar 24, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Mar 24, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Mar 24, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Tue, Mar 24, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Mar 24, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN |  |
| Tue, Mar 24, 15:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe
USD/JPY: Dollar ralies against Yen; below 98.40 resistance
FXstreet.com − The Japanese Yen came under heavy selling pressure, bringing the USD back to levels close to 100.00. USD/JPY has risen from 97.00 to 98.40 maximum level in Asian trading times. The USD is trading on a bullish channel after bouncing at 93.55 in Mar 19.
On the upside, the Dollar has found resistance at 98.40 level. Above here, next resistance level comes at the 98.85/95 area, and once broken this level, 99.69 (Mar 5 high) will be the last before 100.00 psychological resistance
.
GBP/USD
Forex Chartist Technical Analysis − GBP/USD: strong position as long as it can maintain above 1.4650. by Charmer Charts.com
However the break out has been achieved overnight, with the market now at 1.4676 after attaining 1.4694. This is looking still in a strong position as long as it can maintain above 1.4650.
AUD/USD
Daily Recommended Trades − The Aussie Dollar managed to advance higher, above the .7000 mark by E−Forex
The Aussie Dollar managed to advance higher, above the .7000 mark. Next important objectives are seen at .7135 and .7265 while on the downside, minor support is formed by .7000 backed by .6945 and .6850.
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 MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Mar 24 | 09:00 | Purchasing Manager Index Manufacturing | 33.5 | 33.5 |
| Mar 24 | 09:00 | Purchasing Manager Index Services | 39.2 | 39.2 |
EMU economic indicators - PMI manufacturing indices Germany and EMU (March): down by BHF−Bank
All in all, the Purchasing Managers' Indices for the German and EMU manufacturing sector are expected to have deteriorated in March. In the same period, French consumer confidence might have remained unchanged at least.
[ Full Story ]Top Market Movers Review
Japan BOJ MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 23 | 23:50 | BoJ Minutes | - | - | - |
BOJ Has Purchased Y1.1 Billion Bank−Held Shares As Of Mar 20 (Dow Jones)
The Bank of Japan bought Y1.1 billion worth of bank−held stocks between Feb. 23 and March 20, the central bank's latest account data showed Tuesday. As a temporary move to help the nation's troubled banking sector, the central bank decided in February to buy Y1 trillion worth of certain bank−owned shares until April 2010.
[ Full Story ]- Read the Minutes data at Bank of Japan
- Japan Outlook: Cabinet Meets, BOJ Policy Board Mtg Minutes (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 23 | 22:00 | US | Treasury's Geithner Speech | |||
| 23:50 | JP | BoJ Minutes | ||||
| Mar 24 | 08:30 | DE | Purchasing Manager Index Manufacturing (Mar) | 32.4 | 32.1 | 32.1 |
| 08:30 | DE | Purchasing Manager Index Services (Mar) | 41.7 | 41.2 | 41.3 | |
| 09:00 | EMU | Current Account n.s.a (Jan) | 1.4B | |||
| 09:00 | EMU | Current Account s.a (Jan) | -7.3B | |||
| 09:00 | EMU | Purchasing Manager Index Manufacturing (Feb) | 33.5 | 33.5 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Mar)  | 39.2 | 39.2 | ||
| 09:30 | UK | Consumer Price Index (MoM) (Feb) | 0.3% | -0.7% | ||
| 09:30 | UK | Consumer Price Index (YoY) (Feb) | 2.6% | 3.0% | ||