Wednesday, Jun 24, 07:37 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: New chapter online: Fundamental Analysis Read it now!
- Webinar Videos: Understanding the simple rules of Money Management – Part II: Position sizing by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Ranges of Accumulation Seen Moving Forward by Tim Salem (CVJ)
As expected, we continue to see Accumulation as we move closer and closer the The FOMC Decision, as well as Durable Goods, New Home Sales, and the EIA Oil Inventories.
FX Path: EUR/USD - Tentative Triangle Breakout by James Chen
The Disciplined Trader: How the daily charts look on some of the majors - Asian Session by Pierre Charlebois
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jun 24, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jun 24, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jun 24, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jun 24, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jun 24, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Jun 24, 13:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN |  |
Current Session: Europe
Price finds Hourly Consolidation at the Daily Resistance 1.6479
FXstreet.com Independent Analyst Team − Bullish Sentiment is Seen as Price finds Hourly Consolidation at the Daily Static Resistance Level of 1.6479, with Dynamic Support of the Hourly 20SMA/200SMA Bullish Cross.
Clearance sees the 1.6514 Dynamic Resistance, followed statically by 1.6542/50's, where an Hourly Double−Top will be in place if Price Holds and is not breached. An Upside Violation sees 1.6576 and 1.6637 in the Near−Term, while Failure find Price back towards 1.6378 Daily Pivot Confluence with the Hourly 200SMA.
EUR/USD
Corrective cycle could be over and Euro heads towards recent top at 1.4340 by E−Forex
The euro is steady ahead of FOMC's Interest Rate Decision later today. Yesterday's rebound suggests that the corrective cycle could be over and we are now heading towards the recent top side at 1.4340
USD/JPY
USDJPY as expected moved lower and closed at 9525 by Precise Trader
USDJPY as expected moved lower and closed at 9525 which was below the open. FOMC rate announcement. The Hourly Oscillators are bearish but weak and price is below the MA...
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 CURRENT ACCOUNT N.S.A
| Date (GMT) | Event | Cons. | Previous | |
| Jun 24 | 08:00 | Current Account n.s.a | - | -€3.5B |
| Jun 24 | 08:00 | Current Account s.a | - | -€6.5B |
EMU economic indicators - EMU current account is likely to have deteriorated by BHF−Bank
French consumer spending probably went up slightly in May, as consumer confidence improved. EMU industrial new orders might have remained more or less unchanged in April, just like the corresponding German figure. Following its usual seasonal pattern, the EMU current account is likely to have deteriorated in April. French Q1 GDP might be revised downwards.
[ Full Story ]Top Market Movers Review
US ABC/WASHINGTON POST CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 23 | 21:00 | ABC/Washington Post Consumer Confidence | -53 | - | -49 |
ABC: US Consumer Confidence Down 4 Points Latest Week (Dow Jones)
U.S. overall consumer confidence fell last week, according to an ABC News poll released Tuesday. The consumer comfort index fell four points to −53 in the week ended June 21, from −49 a week earlier. According to the survey, 7% of respondents expressed confidence in the economy, down from 8% the week before.
[ Full Story ]- Read the Confidence data at ABC News
US economic indicators - The weekly ABC consumer comfort poll deteriorated by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 23 | 23:50 | JP | Corporate Service Price (YoY) (May) | -3.0% | -2.8% | -2.4% |
| 23:50 | JP | Merchandise Trade Balance Total (May) | ¥299.8B | ¥220.0B | ¥69.0B |
|
| Jun 24 | 02:00 | NZ | Westpac Consumer Confidence (2Q) | 106 | 96 | 96 |
| 06:30 | JP | BoJ's Governor Shirakawa Speech | ||||
| 08:00 | EMU | Current Account n.s.a | -€3.5B | |||
| 08:00 | EMU | Current Account s.a | -€6.5B | |||
| 10:00 | UK | CBI Distributive Trades Survey − Realized (MoM) (Jun) | -17 | |||
| 12:30 | US | Durable Goods Orders (May) | -0.9% | 1.9% | ||
| 12:30 | US | Durable Goods Orders ex Transportation (May) | -0.5% | 0.8% | ||
| 14:00 | US | New Home Sales (May) | 360K | 352K | ||
Educational Resources
The Fed and The FOMC Committee
The Federal Reserve is the Central Bank of the United States, setting Monetary Policy and broadly ensuring the stability and development of the US Financial System. Read this new report written by Tim Salem. The "Fundamental Forex Foundations" is a new series to introduce some of the key and major data release concepts that affect us in the Foreign Exchange World with the most impact.
Related Resources
Central Bank Review - Webinar recording with Adam Rosen
Learning Center - Section about "Interest Rates" in the Fundamental Chapter
Live Coverage of this month's FOMC Meeting with Nick Nasad from the Homepage of FXstreet.com: Wednesday 24th at 18:00 GMT - 14:00 EST