Wednesday, Apr 08, 07:49 GMT
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Forex Blogs
Forex Trading Today: Risk Aversion Returns with a Look at our Old Friends, Gold and Crude Oil by Tim Salem (CVJ)
We have a slight Paradigm Shift in Market Sentiment with the gradual but Marked Strength of the Dollar and the Yen of late... Equities are down globally, so we have seen flight into the "Low−Yielders" of the Dollar and Yen… as Gold and Crude Oil remain Bearish in Sentiment… but largely Range−Bound on the Macro Time−Cycles.
Chartology: How objective is your analysis? A look at chart patterns by Raghee Horner
FX Path: Swing Trading in the Forex Market (Book Excerpt) by James Chen
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, Apr 8, 09:00 GMT
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Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Apr 8, 10:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Tue, Apr 7, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, Apr 8, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Apr 8, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Apr 8, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN |  |
Current Session: Europe
Forex: USD/JPY: Dollar drops below 99.90, hitting intra−week low
FXstreet.com − After various attempts during Wednesday's Asian session, the Dollar has finally broken below 99.90 support level falling to the lowest levels of the week around 99.50 ahead of the European session opening.
On its downward path, the Dollar might find support at 99.35 (Apr 3 low), and below here, 99.00 and 98.40 (Apr 2 low). On the upside resistance levels might be at 99.90/100, and above here 101.15 (Apr 7 high) and 101.45 (Apr 6 High).
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EUR/USD
Forex Trading Strategies − Risk aversion gets a firmer grip; Asia extends the poor equity sentiment from Wall St by Saxo Bank
The EUR was on the defensive from the word go this morning, slipping to a 1.3185 low as stops were triggered. EURJPY is also looking soft below key 200−MA levels on short−term charts.
GBP/USD
Short Term Analysis − GBP/USD: Holding up a little better than some other currencies by Daily Technical Analysis
Holding up a little better than some other currencies, above immediate retracement support and the Ichimoku ‘cloud' though below yesterday's high at 1.4960.
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 FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Apr 8 | 10:00 | Factory Orders n.s.a. (YoY) | -36.5% | -37.9% |
| Apr 8 | 10:00 | Factory Orders s.a. (MoM) | -2.8% | -8.0% |
Friday Notes - Germany new orders: Unprecedented slump in demand by UniCredit Group
Manufacturing companies' assessment of the order situation has stabilized recently, albeit at a still very depressed level. For that reason, we still do not expect a direct recovery following the five very strong declines in the preceding months.
[ Full Story ]Top Market Movers Review
Germany TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 8 | 06:00 | Trade Balance | 8.7B | 7.5B | 7.0B |
DATA SNAP: German February Exports Slump 23.1% On Year (Dow Jones)
German exports slumped 23.1% year−on−year in February, indicating that a sharp decline in global demand is hurting German industry, data from the Federal Statistics Office showed Wednesday.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 8 | 05:00 | JP | Bank of Japan Monthly Economic Survey (Apr 7) | |||
| 05:00 | JP | Eco Watchers Survey: Current (Mar) | 28.4 | 20.9 | 19.4 | |
| 05:00 | JP | Eco Watchers Survey: Outlook (Mar) | 35.8 | 26.5 | ||
| 06:00 | DE | Trade Balance (Feb) | 8.7B | 7.5B | 7.0B |
|
| 09:30 | UK | BRC Shop Price Index (YoY) (Apr 8) | 1.9% | |||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Feb) | -36.5% | -37.9% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Feb) | -2.8% | -8.0% | ||
| 11:00 | US | MBA Mortgage Applications | 3% | |||
| 12:15 | CA | Housing Starts s.a (YoY) (Mar) | 131.0K | 134.6K | ||
| 14:00 | US | Wholesale Inventories (Feb) | -0.6% | -0.7% | ||