Monday, Jun 29, 07:40 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: New chapter online: Fundamental Analysis Read it now!
- Webinar Videos: Monthly Webinar: What Traders Need to Know About Today's Forex by Mark Whistler
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Mixed Markets to Begin an Active Week in The Markets by Tim Salem
We have a somewhat−"rushed" Week with the U.S. 4th of July Independence Day on Saturday, which brings ADP, NFP, Jobless Claims and such a day earlier than usual as U.S. Markets will be closed for The Holiday.
FX Market Readings: Swing and rise moves are expected by Dr. S. Sivaraman
FX Path: Forex Levels to Watch (Week of Jun 29 - Jul 3, 2009) by James Chen
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Jun 29, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Market harmonics and Forex Trading
Expert: Derek Frey
Start: Mon, Jun 29, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jun 29, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Jun 29, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Jun 29, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Jun 29, 14:00 GMT | Market harmonics and Forex Trading | Derek Frey | WBN | |
Current Session: Europe
Asian markets decline; Dollar rises on PBOC comments
FXstreet.com − Stocks in Asia are declining today's Monday session after opening higher on concern in financial shares and energies slide. Today's Japanese data was good, but less than expected in industrial production but worse than expectation on Retail trades. Dollar is rising on PBOC comments that suggest the Greenback will be its key foreign reserve.
EUR/USD
EUR: Attempt longs at 1.4005; stop below 1.3800 by Mizuho Corporate Bank
Still consolidating under the increasingly important 1.4200 level but giving up very little room. Attempt longs at 1.4005; stop below 1.3800. Short term target 1.4100, then 1.4200.
GBP/USD
A potential Hourly Triple−Bottom Formation may be Seen by CMS Forex
Neutral to Corrective Bullishness is Seen, as Hourly Sentiment with Price finds a slight Reversal of the 20SMA/200SMA Hourly Bullish Cross with the 20SMA providing Dynamic Resistance Confluence at the 1.6482 Daily Pivot.
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 ECONOMIC CONFIDENCE
| Date (GMT) | Event | Cons. | Previous | |
| Jun 29 | 09:00 | Consumer Confidence | -30 | -31 |
| Jun 29 | 09:00 | Economic Confidence | 71.0 | 69.3 |
| Jun 29 | 09:00 | Industrial Confidence | -32 | -34 |
Friday Notes - EMU, Economic Confidence: At a turning point by UniCredit Group
In May, economic confidence rose to the highest level since November, mirroring the further improvement of the composite PMI. Though less than expected, the composite PMI kept rising in June, suggesting that the upside potential for economic sentiment has not been exhausted. However, we remain far from the 90 threshold that, according to our estimates, signals the end of the recession.
[ Full Story ]Top Market Movers Review
Japan RETAIL TRADE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 28 | 23:50 | Retail Trade (YoY) | -2.8% | -2.6% | -2.8% |
| Jun 28 | 23:50 | Retail Trade s.a (MoM) | 0.0% | 0.0% | 0.6% |
| Jun 28 | 23:50 | Large Retailer's Sales | -6.5% | -6.2% | -6.7% |
Japan May Overall Retail Sales −2.8% On Year (Dow Jones)
Japan's retail sales fell 2.8% in May from a year earlier, the government said Monday, highlighting the extent to which consumers are curbing expenses as bleak employment and income conditions persist
[ Full Story ]- Read the Retail data at METI
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 28 | 23:50 | JP | Industrial Production (MoM) (May)  | 5.9% | 7.0% | 5.9% |
| 23:50 | JP | Retail Trade (YoY) (May) | -2.8% | -2.6% | -2.8% |
|
| 23:50 | JP | Retail Trade s.a (MoM) (May) | 0.0% | 0.0% | 0.6% | |
| Jun 29 | 03:00 | NZ | M3 Money Supply (YoY) (May) | 5.6% | 6.9% |
|
| 08:30 | UK | Consumer Credit (May) | £0.3B | £0.3B | ||
| 08:30 | UK | M4 Money Supply (MoM) (May) | 0.2% | |||
| 08:30 | UK | M4 Money Supply (YoY) (May) | 16.6% | |||
| 08:30 | UK | Mortgage Approvals (May) | 46K | 43K | ||
| 08:30 | UK | Net Lending to Individuals (May) | £1.3B | |||
| 09:00 | EMU | Consumer Confidence (Jun) | -30 | -31 | ||
Educational Resources
Educator of the Month: James Chen
James Chen, CTA, CMT, is the Chief Technical Strategist for FX Solutions. He is also a registered Commodity Trading Advisor and a Chartered Market Technician. Mr. Chen graduated from Tufts University with a degree in social psychology, and has been a currency trader and analyst since the inception of the retail forex market. James Chen publishes research on FXstreet.com and participates to different projects. Check the links below!
Highlighted resources
Check his report Chart of the Day
Register here for his next live session on Tuesday July 14 2009 at 12:00 GMT
Follow his blog at FXstreet.com − FX Path
Read about his book - Essentials of Foreign Exchange Trading
International Traders Conference (ITC 09) Barcelona - Mr.Chen will be Key Speaker at the event