Thursday, Jul 16, 07:35 GMT
EUROPEAN Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Disciplined Trader: A look at the EUR/USD triangle by Pierre Charlebois
I have to ask myself if I think the upper trendline on the triangle is going to hold. The candle violated the Bollinger band and reversed. A continued move down targets the lower trendline whereas a high above that peircing candle opens the door to a new top.
Chartology: EUR/USD set ups…30 min and daily charts by Raghee Horner
FX Path: USD/JPY - Reaches 94.00 by James Chen
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Current Session: Europe
Asian Markets continuing the green wave; EUR and GBP slightly lower
FXstreet.com − Stock markets in Asian countries are rising today's Thursday session, following yesterday's gains across the world, on better than expected China economic data, risk appetite and further signs of recovery. Despite Dollar is under pressure, it is slightly higher against Euro and Pound in consolidation movement from yesterday losses. MSCI Asia Pacific Index has risen 1.35% to its two high level, S&P Asia 50 climbs 1.35% too, Nikkei index advances 0.55%, Hang Seng index is jumping 1.62% so far today, the South Korean Kospi posts 0.80% increases, S&P ASX 200 is 1.73% higher the New Zealand NZX 50 rises 1.35% and the Straits Times Index from Singapore is reaching 0.75% daily gains.
Yen
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY) by Precise Trader
GBP/JPY broke out of the Long Range Candle. The Hourly Oscillators are bullish but weak and the price is well above the MA, so the bulls have to be Cautious. Hourly Trend is Sideways Up.
Pound
GBP/USD: Attempt small longs at 1.6400 by Mizuho Corporate Bank
Rallying slowly again after the Monday's ‘hammer' candle ahead of the top of the Ichimoku ‘cloud' and the bottom of the ‘triangle'. Expect a test of the top of the formation this week.
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
US PHILADELPHIA FED MANUFACTURING SURVEY
| Date (GMT) | Event | Cons. | Previous | |
| Jul 16 | 14:00 | Philadelphia Fed Manufacturing Survey | -4.9 | -2.2 |
US economic indicators - Philadelphia Fed index in July: −5 by BHF−Bank
Where as the Philadelphia Fed index improved markedly in June, the New York Empire manufacturing index fell back somewhat. We expect the gap to narrow and both indices to remain below zero in July, still indicating contraction. Thus we forecast a level of –5 for both the New York Empire and the Philadelphia Fed index in July.
[ Full Story ]Top Market Movers Review
US FOMC MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 15 | 18:00 | FOMC Minutes | - | - | - |
FOMC: Rates hikes still far out by Danske Bank A/S
[ Full Story ]- Read the Minutes data at Federal Reserve
- Dollar steady after FOMC minutes (FXstreet.com)
Daily Global Commentary - Highlights of the Minutes of June 23−24 FOMC Meeting and View about Quantitative Easing by Northern Trust
Intraday Forex Technical Report - U.S. Update: Optimism back ahead of FOMC by FXstreet.com Independent Analyst Team
Daily Forex News - Forex − Strong Corporate Earnings Give Risk Correlated Assets a Boost by ACM − Advanced Currency Markets
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 15 | 14:30 | US | EIA Crude Oil Stocks change | -2.8M | -1.9M | -2.9M |
| 18:00 | US | FOMC Minutes | ||||
| 22:45 | NZ | Food Price Index (MoM) (Jun) | 2.8% | 0.3% | ||
| 23:50 | JP | Tertiary Industry Index (MoM) (May) | -0.1% | 0.3% | 2.2% | |
| Jul 16 | 09:00 | CH | ZEW Survey − Expectations (Jul) | 9.7 | ||
| 12:30 | US | Continuing Jobless Claims (Jul 4) | 6800K | 6883K | ||
| 12:30 | US | Initial Jobless Claims (Jul 11) | 530K | 565K | ||
| 13:00 | US | Net Long−term TIC Flows (May) | $16.5B | $11.2B | ||
| 13:00 | US | Total Net TIC Flows (May) | -$11.2B | -$53.2B | ||
| 14:00 | US | Philadelphia Fed Manufacturing Survey (Jul) | -4.9 | -2.2 | ||
Educational Resources
If you can't spot it, don't trade it
You will find that all successful traders share one thing in common. They all (without exception) have an edge based on low risk entries. Gabe Velazquez looks at why new traders need to learn to identify low risk entry points if they want to enjoy a successful trading career. Read the report!
Other Articles:
Faith−Based Economics from The Trader's Journal May issue
Pivot Point Analysis from The Trader's Journal March issue
Using Moving Averages as Trend filters from The Trader's Journal March issue