Friday, Jun 12, 07:34 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: Chapter 1 of Unit B: Technical Analysis is out. Check it out!
- Webinar Videos: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: EUR/JPY and GBP/JPY Look Towards Continued Appreciation by Tim Salem
We see the other "Area of Focus" on the Current Dollar and Yen Intra−Day Weakness, as The Yen also follows several Key Areas and Channels moving forward.
FX Market Readings: Aggressive rise and fall moves expected for week end by Dr.S. Sivaraman
FX Bootcamp: Pre London Outlook June 12th 2009 by David R Pegler
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Jun 12, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jun 12, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Fri, Jun 12, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Jun 12, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
| Mon, Jun 15, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: Europe
EUR/USD: Potential 20SMA/200SMA Bullish Cross on the way
FXstreet.com Independent Analyst Team − Neutral Hourly Sentiment is seen as Price remains above the Hourly 20SMA/Daily Pivot Confluence at 1.4075 and a potential 20SMA/200SMA Bullish Cross on the way, with a Downside Breach seeing 1.4021 Daily Dynamic Support, which is being Confirmed by Slight RSI Readings and Slope at "54". Continuation sees 1.3986 Static Support, and a Violation here resumes the Bearish Sentiment with Dollar Strength as Price sees an Hourly Rounded Double−Top Formation continuing through 1.3831 to 1.3804, and 1.3841 Daily Dynamic and Static Resistance Areas
GBP/USD
Daily Technical Analysis − Cable is just a hair's breath off this month's high at 1.6664 by Mizuho Corporate Bank
Cable is just a hair's breath off this month's high at 1.6664, having retraced 38% of the massive declines of 2008. A weekly close above 1.6500 should keep bullish momentum close to a record high forcing many long term investors to re−think core positioning.
USD/JPY
Forecast on USD Majors − USD/JPY: Expect the price to be choppy with a downside bias/url] by Precise Trader
The Hourly Oscillators are bearish but weak, so bears have to be Cautious. Hourly Trend is Sideways and Daily Trend is also Sideways, so expect the price to be choppy with a downside bias.
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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jun 12 | 09:00 | Industrial Production w.d.a. (YoY) | -19.8% | -20.2% |
| Jun 12 | 09:00 | Industrial Production s.a. (MoM) | -0.5% | -2.0% |
EMU economic indicators - EMU industrial production (April): further decline by BHF−Bank
Output in the German producing sector will probably have decreased in April, just like the ifo Institute's current assessment of the situation in the manufacturing sector. For similar reasons, French, Italian and EMU industrial production could have continued declining in April. Italian GDP growth in Q1 2009 is unlikely to be revised significantly.
[ Full Story ]Top Market Movers Review
Japan INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 12 | 04:30 | Industrial Production (MoM) | 5.9% | 5.2% | 5.2% |
Japan Apr Revised Indus Output +5.9% M/M Vs +5.2% Prelim (Dow Jones)
Japanese industrial output rose 5.9% from a month earlier in April, revised government data released Friday showed. The gain was better than the government's preliminary reading of a 5.2% on−month climb. Economists say output may increase at a slow pace in the coming months with continued progress in inventory adjustment and signs of overseas demand picking up.
[ Full Story ]- Read the Industrial data at METI
- Japan Apr Revised Industrial Output Table Of Data (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 12 | 04:30 | JP | Industrial Production (YoY) (Apr) | -30.7% | -31.2% |
|
| 05:00 | JP | Consumer Confidence (May) | 36.3 | 34.0 | 33.2 | |
| 05:00 | JP | Consumer Confidence Households (May) | 35.7 | 34.1 | 32.4 | |
| 06:00 | DE | Wholesale Price Index (MoM) (May) | 0.1% | 0.1% | 0.1% | |
| 09:00 | EMU | Industrial Production s.a. (MoM) (Apr) | -0.5% | -2.0% | ||
| 09:00 | EMU | Industrial Production w.d.a. (YoY) (Apr) | -19.8% | -20.2% | ||
| 12:30 | EMU | ECB Trichet's Speech | ||||
| 12:30 | US | Import Price Index (MoM) (May) | 1.1% | 1.6% | ||
| 12:30 | US | Import Price Index (YoY) (May) | -16.3% | |||
| 13:55 | US | Reuters/Michigan Consumer Sentiment Index (Jun)  | 68.6 | 68.7 | ||