Monday, Jul 13, 07:47 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: The EUR/USD and GBP/USD See IntrDay Flag Success and Failure by Tim Salem
We begin the new Week essentially where we left off Friday in most Currency Units, as Price looks to continue some Quiet Accumulation leading into IntraDay Consolidating Areas. The Majors still maintain larger Macro−Swings, albeit in some Clear Ranges moving forward.
FX Market Readings: Week beginning swings by Dr. S. Sivaraman
ForexHedge: Forex Ranking by Ron Schelling
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Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jul 13, 14:00 GMT
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Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Jul 13, 16:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jul 13, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Jul 13, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jul 13, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Mon, Jul 13, 19:00 GMT | Trading Around Your Day Job | Ryan O'Keefe | WBN |  |
Current Session: Europe
GBP/USD continues in bearish hourly sentiment
FXstreet.com Independent Analyst Team − Slightly Bearish Hourly Sentiment is Seen in the Immediate−Term as Price finds Dynamic Support at the 1.6116 Area with the 20SMA providing Dynamic Resistance. Continuation of the slight 20SMA/200SMA Hourly Bearish Cross see Price Depreciation towards the 1.6045 Daily Static Support, and through to the 1.5990's Lows for a potential Hourly Double−Bottom. RSI Readings and Slope confirm this View @ "31", and Bullish Sentiment is not In Favor unless Price can regain and Hold at least the 1.6236 Daily Pivot Area in the Near−Term.
Yen
Forecast on JPY Crosses by Precise Trader
GBP/JPY: The Hourly Oscillators mixed and the price is below the MA, so Cautious approach is needed. Hourly Trend is Sideways while 15240 holds and Daily Trend is Sideways Down while 15680 holds...
Euro
EUR and GBP − Door still open to new tops but range is under pressure by Trading Metro
I've presented Elliott Wave Counts on both pairs this week that still suggests new tops are possible. However I would say my confidence is at best 60% towards this outcome.
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
UK CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jul 14 | 08:30 | Core Consumer Price Index (YoY) | 1.6% | 1.6% |
| Jul 14 | 08:30 | Consumer Price Index (YoY) | 1.8% | 2.2% |
| Jul 14 | 08:30 | Consumer Price Index (MoM) | 0.3% | 0.6% |
Friday Notes - We expect headline inflation to ease further to 1.8% for June by UniCredit Group
We expect headline inflation to ease further to 1.8% for June. The disinflation process is widespread. Core inflation should have eased to 1.5% from the previous 1.6%; and another downward contribution should come from non−core components, as fuel and food prices, though rising month−over−month, will benefit from a favorable base effect.
[ Full Story ]Top Market Movers Review
Japan CONSUMER CONFIDENCE HOUSEHOLDS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 13 | 05:00 | Consumer Confidence Households | 37.6 | 36.8 | 35.7 |
Japan Govt: Consumer Sentiment Index 37.6 Jun Vs 35.7 May (Dow Jones)
Japan's consumer sentiment index in June reached its highest level in more than one and a half years, the government said Monday, adding to hopes that the worst of the economic slowdown may be over. The Cabinet Office's consumer confidence survey index, which measures consumers' economic outlook for the coming six months, rose by 1.9 points to 37.6 from 35.7 in May, its highest level since December 2007 and the sixth−straight monthly rise.
[ Full Story ]- Read the Confidence data at Cabinet Office (Japan)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 13 | 05:00 | JP | Consumer Confidence (Jun) | 38.1 | 39.5 | 36.3 |
| 05:00 | JP | Consumer Confidence Households (Jun) | 37.6 | 36.8 | 35.7 | |
| 07:15 | CH | Producer and Import Prices (MoM) (Jun) | 0.0% | 0.1% | -0.3% | |
| 07:15 | CH | Producer and Import Prices (YoY) (Jun) | -5.6% | -5.4% | -5.0% | |
| 10:30 | EMU | ECB Trichet's Speech | ||||
| 14:30 | CA | Bank of Canada Business Outlook Survey | ||||
| 23:01 | UK | BRC Retail Sales Monitor − All (YoY) (Jun) | -0.8% | |||
| 23:01 | UK | RICS House Price Balance (Jun) | -40.1% | -44.1% | ||
| Jul 14 | 01:30 | AU | National Australia Bank's Business Conditions (Jun) | -14 | ||
| 01:30 | AU | National Australia Bank's Business Confidence (Jun) | -2 | |||
Educational Resources
Using Moving Averages as Trend filters
The markets tend to be "mean reverting." Gabe Velazquez discusses the differences in the simple moving average and the exponential moving average. The differences may surprise you. Read the report!
Other Article in this Issue:
Pivot Point Analysis by from The Trader's Journal March issue
Elliot Wave principle from The Forex Journal March issue
The structure of th FX market and the role of the retail forex broker from The Forex Journal March issue