Wednesday, Jul 08, 07:53 GMT
EUROPEAN Trading Newsletter
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- Learning Center: New chapter online: Fundamental Analysis Read it now!
- Webinar Videos: How to Get Started Trading Forex: Forex Volatility Illuminated by Mark Whistler
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: The Yen Continues As Our Risk Aversion Leader With Conviction by Tim Salem
Greetings once again, Everyone and Welcome To Wednesday! Let's continue our numerous references and discussions to our Two "Risk−Aversion Partners−In−Crime", The Yen and The Dollar.
The Disciplined Trader: Psychology Piece – What kind of trader are you? by Pierre Charlebois
FX Market Readings: Downward pressure to push up fast by Dr. S. Sivaraman
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jul 8, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jul 8, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 8, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jul 8, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jul 8, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN |  |
| Wed, Jul 8, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
Current Session: Europe
USD/JPY Deep Bearish Sentiment
FXstreet.com Independent Analyst Team − Deep Bearish Sentiment is seen with Price holding a wide Angle and Slope with It's 20SMA/200SMA Bearish Hourly Cross, with Price also finding the 20SMA Dynamic Resistance to move through the 94.26 Daily Static Support Area for Dynamic Support @ 94.04. Continuation sees 93.76 followed by RSI Readings and Slope in Oversold Conditions with Price extending the Bearish Hourly Channel to the 93.50's Lows of March 19th for a Mid−Term Double−Bottom Formation if The Area holds. Bullish Sentiment is not In Favor in The near−Term, as The Risk−Averse Yen will need to clear the 95.30 Daily Static Resistance Area to even see Neutrality back into Hourly Consolidation.
EUR/USD
EURO Bearish Trend Is still in Favor by Forex Ltd.
The pre−planned short positions from key resistance range levels were implemented with achievement of basic anticipated targets.
GBP/USD
Dropping towards Fibonacci support and an increasingly large by Mizuho Corporate Bank
Upward−sloping Ichimoku ‘cloud'. Let's see how Cable reacts here and ahead of June's low at 1.5800.
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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jul 8 | 10:00 | Industrial Production s.a. (MoM) | 0.6% | -1.9% |
EMU economic indicators - Output in the German producing sector (May): down by BHF−Bank
Output in the German producing sector will probably have decreased in May, just like most of the correlated indicators. For similar reasons, French and Italian industrial production could have declined in May.
[ Full Story ]Top Market Movers Review
Australia WESTPAC CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 8 | 01:00 | Westpac Consumer Confidence | 9.3% | - | 12.7% |
Australian Consumer Sentiment Index +9.3% In July Vs June (Dow Jones)
[ Full Story ]- Read the Confidence data at Melbourne Institute
- Australian Westpac consumer confidence index +9.3 (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 8 | 05:00 | JP | Eco Watchers Survey: Current (Jun) | 42.2 | 37.3 | 36.7 |
| 05:00 | JP | Eco Watchers Survey: Outlook (Jun) | 45.6 | 43.3 | ||
| 05:45 | CH | Unemployment Rate (Jun) | 3.6% | 3.5% | 3.4% | |
| 05:45 | CH | Unemployment Rate s.a. (Jun) | 3.8% | 3.6% | 3.5% | |
| 08:00 | UK | Halifax House Prices (MoM) | 0.0% | 2.6% | ||
| 08:00 | UK | Halifax House Prices (YoY) | -16.3% | |||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (1Q) | -2.5% | -2.5% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (1Q) | -4.8% | -4.6% | ||
| 10:00 | DE | Industrial Production s.a. (MoM) (May) | 0.6% | -1.9% | ||
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (May) | -20.0% | -21.6% | ||
Educational Resources
Using swing breakouts in forex trading
This article is taken from the Forex Journal (May 2009 issue). The author, Doug Schaff, has traded the Forex markets for close to 30 years. Doug Schaff discusses the use of intermediate swing highs and swing lows to develop a shortterm approach to trading the currency markets. Read the article!
Other Articles of the Forex Journal
Timely Advice from a Pro Trader by Johan Kriek
Leash in Retracements with Arcs by Cornelius Luca