Thursday, Apr 23, 07:56 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: My favorite technical indicators to trade Forex by Valeria Bednarik
- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: USD/JPY − Is the correction over? by Ross Yamashita
Here is a screen shot of the USD/JPY daily chart. We saw a longer term movement down − followed by a retracement up. So, the million dollar question? Is this retracement over or will it reverse? Well, we saw it almost touch the 61.8% Fibonacci level and start heading back down. If you view our trend line, you can see we are right on the trend line.
FxBootcamp: FOREX VIDEO - NEW YORK SESSION REVIEW - April 22, 2009 by Curt Wehrley
Forex Trading Today: Risk Aversion Takes Hold as the Dollar and Yen Find Strength by Tim Salem (CVJ)
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Live Sessions Schedule
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Thu, Apr 23, 10:00 GMT
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Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Apr 23, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Apr 23, 09:00 GMT | Trading Confirmation  | Sam Seiden | WBN |  |
| Thu, Apr 23, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Thu, Apr 23, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Apr 23, 14:00 GMT | Where is the next carry trade? | Adam Rosen | WBN | |
Current Session: Europe
Forex: EUR/USD: Euro rallies to test levels above 1.3035
FXstreet.com − The Euro has rallied on late Asian session to reach levels above 1.3035, after having remained trading in range around 1.3000 for most of the session.. At the moment the Euro moves at 1.3045, with 1.3060 level on sight.
In case of moving above 1.3065, next resistance level might lie at 1.3090 (Apr 10 low) and above here, 13125/45 (Apr 16 and 15 lows). On the downside, 1.3035 (Apr 22 low) and once below here, today's low at 1.2980 and 1.2950.
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EUR/USD
Daily Technical Analysis − EUR: Attempt small longs at 1.3025; stop below 1.2850 by Mizuho Corporate Bank
Trying to base and bounce from the bottom of a large ‘flag' formation, but could do a lot better if momentum were to turn bullish. Expect another cautious push higher today.
AUD/USD
Daily Recommended Trades − AUDUSD: The resistance around .7130 by E−Forex
The resistance around .7130 is intact but seem to be aimed today and a potential breach will probably open the .7180−.7230 zone for extended gains. Intra−day support is emerging at .7050 and .6970.
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 | |
| Apr 23 | 08:00 | Purchasing Manager Index Services | 41.3 | 40.9 |
| Apr 23 | 08:00 | Purchasing Manager Index Manufacturing | 35.4 | 33.9 |
EMU economic indicators - PMI manufacturing indices Germany and EMU (April): stable at least by BHF−Bank
For similar reasons, Belgian and French business confidence and the Purchasing Managers' Indices for the German and EMU manufacturing sector are likely to have at least remained stable in April.
[ Full Story ]Top Market Movers Review
Germany PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 23 | 07:30 | Purchasing Manager Index Services | 43.5 | 42.4 | 42.3 |
| Apr 23 | 07:30 | Purchasing Manager Index Manufacturing | 35.0 | 33.0 | 32.4 |
DATA SNAP:German Composite PMI Hits Five−Month High In April (Dow Jones)
German private−sector output declined at the slowest pace for five months in April as the downturn in both the manufacturing and services sectors moderated more than expected, data from Markit Economics showed Thursday.
[ Full Story ]- Germany Apr Services PMI rises to 43.5 vs 42.3 (FXstreet.com)
- German Manufacturing PMI up to 35 in Apr from 32.4 (FXstreet.com)
EMU economic indicators - PMI manufacturing indices Germany and EMU (April): stable at least by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 23 | 04:00 | JP | BoJ's Governor Shirakawa Speech | |||
| 06:15 | CH | Trade Balance (Mar) | 0.12B | 0.62B | 0.72B |
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| 07:30 | DE | Purchasing Manager Index Manufacturing (Apr) | 35.0 | 33.0 | 32.4 | |
| 07:30 | DE | Purchasing Manager Index Services (Apr) | 43.5 | 42.4 | 42.3 | |
| 08:00 | EMU | Current Account n.s.a (Feb) | -10.6B | -18.2B | ||
| 08:00 | EMU | Current Account s.a (Feb) | -10.7B | -12.7B | ||
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Apr) | 35.4 | 33.9 | ||
| 08:00 | EMU | Purchasing Manager Index Services (Apr) | 41.3 | 40.9 | ||
| 09:00 | EMU | Industrial New Orders (YoY) (Feb) | -34.8% | -34.1% | ||
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Feb) | -2.2% | -3.4% | ||