Wednesday, Mar 25, 08:34 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Trading Forex on a Daily Basis Using Daily Charts by James Chen
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: EUR/USD and NZD/USD Provide Clear Examples of Corrective Sentiment by Tim Salem
With Corrective Behavior across the Markets as we continue to "digest" the Geithner Plan and other "Rhetoric" that seems to be coming our way incessantly… perhaps we can drill down for some Technical Details with the EUR/USD and the NZD/USD for some clarity with our latest round of Risk Appetite.
The Day Job Trader: AUD/USD Daily Support… by Ryan O'Keefe
FXbootcamp: FOREX Training Video - New York Session March 24, 2009 by Curt Wehrley
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Mar 25, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Mar 25, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Mar 25, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Mar 25, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Mar 25, 13:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN |  |
| Wed, Mar 25, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
Current Session: Europe
USD/JPY: Dollar withdraws from 98.40 to 97.40 ahead of European session
FXstreet.com − USD JPY has lost some 100 pips during Asian session. Rejection from 98.40 resistance level in early Asian session has brought the pair down, to test 97.35 support level (Mar 23 high) before European opening times.
According to Tim Salem, FXstreet collaborator, the pair is trading under bearish influence, and some lower levels can be seen: "Bearish Sentiment continues with Hourly Yen strength with static Support of 97.38 /97.27 200SMA Confluence holding for now. RSI neutrality will shift south as Price violates to 200 and moves to the 97.01 Handle."
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GBP/USD
Currency Majors Technical Perspective − Bullish momentum also resting within a 50−55−pip Hourly Congestive Range by FXstreet.com
Bullish momentum also resting within a 50−55−pip Hourly Congestive Range held by dynamic Support @ 1.4619 through dynamic Resistance @ 1.4771. A violation north of the 20 SMA @ 1.4591 leads us to a mi−point of 1.4709 on to 1.4735.
EUR/USD
Trading News Report − EUR/USD: Trading the US Durable Goods Orders Report by FXCM
The U.S. dollar is likely to face increased selling pressures over the next 24 hours of trading as economists forecast demands for durable goods to contract another 2.5% in February as private−sector spending falters.
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 | |
| Mar 25 | 09:00 | IFO − Expectations | 81.5 | 80.9 |
| Mar 25 | 09:00 | IFO − Business Climate | 82.5 | 82.6 |
EMU economic indicators - German ifo business climate (March): down by BHF−Bank
The ifo business climate for Germany will probably have deteriorated in March; both the current assessment and business expectations are likely to have declined. The German ZEW economic sentiment and the US ISM manufacturing index only improved slightly.
[ Full Story ]Daily Market Briefing - Euro Pulls Back From 1.3700 − German IFO Report Could Impact Trade on Wednesday by FXCM
Top Market Movers Review
US ABC/WASHINGTON POST CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 24 | 21:00 | ABC/Washington Post Consumer Confidence | -49 | - | -47 |
ABC/Wash Post: US Consumer Confidence Down 2 Pts Latest Week (Dow Jones)
U.S. overall consumer confidence declined two points in the latest week and remains locked in a narrow range since mid−February, according to an ABC News/Washington Post poll released Tuesday. The consumer comfort index fell 2 points to −49 in the week ended March 22, from −47 a week earlier. It's been in the −47 to −49 range since Feb. 15.
[ Full Story ]- Read the Confidence data at Washington Post
US economic indicators - Confidence expected to rise by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 24 | 23:50 | JP | Merchandise Trade Balance Total (Feb) | ¥82.4 | -¥20.0B | -¥956.9B |
| Mar 25 | 00:00 | US | Barack Obama Speech | |||
| 01:00 | NZ | Westpac Consumer Confidence (1Q) | 96.0 | 101.3 | ||
| 07:30 | AU | RBA's Governor Glenn Stevens Speech | ||||
| 09:00 | DE | IFO − Business Climate (Feb) | 82.5 | 82.6 | ||
| 09:00 | DE | IFO − Expectations (Mar) | 81.5 | 80.9 | ||
| 11:00 | UK | CBI Distributive Trades Survey − Realized (MoM) (Feb) | -35 | -25 | ||
| 11:00 | US | MBA Mortgage Applications (Mar 20) | 11.3% | |||
| 12:30 | US | Durable Goods Orders (Feb) | -2.2% | -4.5% |
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| 12:30 | US | Durable Goods Orders ex Transportation (Feb) | -2.2% | -3.0% |
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