Friday, Apr 24, 07:46 GMT
EUROPEAN Trading Newsletter
To Get Started
- 3 seats available for Rob Booker's special webinar series for a charitable cause on April 30 and May 1. Learn how to get one!
- 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
Forex Trading Today: EUR/USD Finds Consistent Gains Following Near−Term Break by Tim Salem
With the Easing of Risk−Averse Sentiment with the Dollar and Yen Strength… the Majors have returned for Corrective Upside Bias in the Near−Term where we may simply see "Shallow" Pullbacks to continue on with the coordinating Trends.
FX Market Readings: Week end expected moves by Dr.S. Sivaraman
Trading for a Living: Majors at a glance 24/04/2009 by David Aranzabal
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Live Sessions Schedule
FX Market Pulse
Expert: Raghee Horner
Start: Fri, Apr 24, 13:00 GMT
Type of Session: Webinar
Forex Basics Series: Chapter 3 − Technical oscillators and indicators Part 1
Expert: Valeria Bednarik
Start: Fri, Apr 24, 14:00 GMT
Type of Session: Webinar
Topics
− Different settings for different pairs
− Differences between them
− Open and close oscillators and indicators
| Sponsored by | ||||
| Fri, Apr 24, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Apr 24, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Fri, Apr 24, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
| Fri, Apr 24, 14:00 GMT | Forex Basics Series: Chapter 3 − Technical oscillators and indicators Part 1 | Valeria Bednarik | WBN | |
Current Session: Europe
EUR/USD Bullish Momentum continues with overextended Price Behavior
FXstreet.com − Bullish Momentum continues with overextended Price Behavior, as Appreciation through Daily Static Resistance @ 1.3163 looks towards the 1.3200 Figure of Resistance in the Immediate−Term. Upside Bias is favored, although Corrective Behavior is needed for Directional Integrity, where a pullback to the Hourly 20SMA/200SMA Bullish Cross @ 1/3088 also has Confluence with the Daily Pivot.
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USD/JPY
USD/JPY : Decline from 101.45 high extends below 97.00 by FXstreet.com
The Dollar has weakened during Asian session breaking below the upward trending support line from Jan 21 low at 87.00; Decline from 101.45 high on Apr 06 has extended below 97.00.
GBP/USD
Forex Chartist Technical Analysis − GBP/USD: Overnight this has eased back to 1.4637 by Charmer Charts.com
Sterling came higher yesterday with rallies seen to 1.4744. Overnight this has eased back to 1.4637, and needs to hold the 1.4598 support if buyers are going to rule today.
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 | |
| Apr 24 | 08:00 | IFO − Business Climate | 82.3 | 82.1 |
| Apr 24 | 08:00 | IFO − Expectations | 82.6 | 81.6 |
EMU economic indicators - German ifo business climate (April): down by BHF−Bank
However, the ifo business climate for Germany could have deteriorated slightly further in April; the current assessment is likely to have declined, but business expectations will probably have improved, just as they, and also the US ISM manufacturing index, did in March.
[ Full Story ]Top Market Movers Review
US EXISTING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 23 | 14:00 | Existing Home Sales | 4.57M | 4.69M | 4.72M |
| Apr 23 | 14:00 | Existing Home Sales (MoM) | -3.0% | -1.5% | 5.1% |
US Mar Existing Home Sales Dn 3.0% To 4.57 Mln Rate (Dow Jones)
Existing−home sales dropped in March, and the median price was down 12% from a year earlier. Home resales fell by 3.0% to a 4.57 million annual rate from 4.71 million in February, the National Association of Realtors said Thursday.
[ Full Story ]- Read the Existing Home Sales data at NAR
- US Existing Home Sales−STATS (Dow Jones)
- USD/JPY: Dollar drops to test 98.10 support after home sales data (FXstreet.com)
- Table of Data On US Existing Home Sales (Dow Jones)
US economic indicators - Existing and new home sales (Mar): falling despite boost from foreclosures by BHF−Bank
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 23 | 12:30 | Continuing Jobless Claims | 6137K | 6135K | 6044K |
| Apr 23 | 12:30 | Initial Jobless Claims | 640K | 630K | 613K |
US Jobless Claims +27K To 640K In Apr 18 Week; Survey +30K (Dow Jones)
New U.S. claims for state unemployment benefits rose last week, while the total number of people drawing unemployment benefits surged to the highest level on record.
[ Full Story ]- Read the Jobless Claims data at Labor Department
- CORRECT: US Jobless Claims +27K To 640K In Apr 18 Week; Survey +30K (Dow Jones)
- EUR/USD: Euro tests levels below 1.3035 after Jobless Claims (FXstreet.com)
- U.S. Jobless claims rise slightly above expectations; Euro drops below 1.3050 (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 23 | 14:00 | US | Existing Home Sales (Mar) | 4.57M | 4.69M | 4.72M |
| 14:30 | CA | Bank of Canada Monetary Policy Report | ||||
| 23:50 | JP | All Industry Activity Index (MoM) (Feb) | -2.0% | -2.1% | -1.7% | |
| 23:50 | JP | Corporate Service Price (YoY) (Mar) | -2.1% | -2.6% | -2.6% | |
| Apr 24 | 08:00 | DE | IFO − Business Climate (Apr) | 82.3 | 82.1 | |
| 08:00 | DE | IFO − Expectations (Apr) | 82.6 | 81.6 | ||
| 08:30 | UK | Gross Domestic Product (QoQ) (1Q) | -1.5% | -1.6% | ||
| 08:30 | UK | Gross Domestic Product (YoY) (1Q) | -3.8% | -2.0% | ||
| 08:30 | UK | Index of Services (Feb) | -1.3% | |||
| 08:30 | UK | Retail Sales (MoM) (Mar) | -0.3% | -1.9% | ||