Friday, Jul 17, 07:37 GMT
EUROPEAN Trading Newsletter
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- Webinar Videos: Introduction to Candlestick Patterns by Andrei Pehar
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: Volatile moves for week end by Dr. S. Sivaraman
EURO and GBP were making wide range swings yesterday cutting the initial low and high set for the day during Japanese session. During early japanese session they are making negative net change without any expected upward gap opening.
FX Path: USD/CAD − Bearishness Potentially Targeting 1.08 by James Chen
Chartology: Watching for a USD/CHF Swing Short by Raghee Horner
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Jul 17, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 17, 08:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN |  |
| Fri, Jul 17, 12:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Fri, Jul 17, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
| Mon, Jul 20, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
Current Session: Europe
EUR: Attempt small longs at 1.4125; stop below 1.4000
Mizuho Corporate Bank − Testing the top of the ‘triangle', managing a slightly unconvincing close above the upper edge, helped up by a large Ichimoku ‘cloud'. If not today then next week we favour a break higher, where a weekly close above 1.4200 should add considerably to bullish momentum and trigger a series of waves of stop loss buying.
Strategy: Attempt small longs at 1.4125; stop below 1.4000. Short term target 1.4200, then this year's high at 1.4339.
GBP/USD
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY) by Precise Trader
GBP/USD closed @ 16440 which marginally above the open within prior day's range. The High was 15 pips away from our Resistance Zone 1. The Hourly Oscillators are turning bearish and price is approaching the MA.
USD/JPY
Daily FX Market Commentary by Danske Bank
Asian stock markets are taking their lead from the US and are mostly higher this morning. However, the positive sentiment has been marred somewhat by bomb explosions at two hotels in the Indonesian capital Jakarta.
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 TRADE BALANCE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jul 17 | 09:00 | Trade Balance s.a. | €1.2B | -€0.3B |
| Jul 17 | 09:00 | Trade Balance n.s.a. | €0.0B | €2.7B |
EMU economic indicators - EMU trade balance is expected to have remained more or less unchanged by BHF−Bank
Following its usual seasonal pattern, the EMU trade balance is expected to have remained more or less unchanged in May, just like the corresponding German figure.
[ Full Story ]Top Market Movers Review
Australia EXPORT PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 17 | 01:30 | Export Price Index (QoQ) | -20.6% | -16.0% | -4.6% |
Australian Trade Indexes Drop In 2Q Vs 1Q (Dow Jones)
A price index of Australian imports fell 6.4% in the second quarter of 2009 from the first quarter, the Australian Bureau of Statistics said Friday. The price index for exports fell 20.6% in the second quarter from the first quarter.
[ Full Story ]- Read the Export/Import data at Australian Bureau of Statstics
- Australia Q2 Export prices fall 20.6%, Imports −6.4% (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 17 | 01:30 | AU | Export Price Index (QoQ) (2Q) | -20.6% | -16.0% | -4.6% |
| 01:30 | AU | Import Price Index (QoQ) (2Q) | -6.4% | -6.0% | -2.8% | |
| 05:00 | JP | Coincident Index (May) | 87.1% | 87.1% | 86.0% | |
| 05:00 | JP | Leading Economic Index (May) | 76.9 | 76.8 | 76.2 | |
| 09:00 | EMU | Construction Output s.a (MoM) (May) | 0.6% | |||
| 09:00 | EMU | Construction Output w.d.a (YoY) (May) | -4.7% | |||
| 09:00 | EMU | Trade Balance n.s.a. (May) | €0.0B | €2.7B | ||
| 09:00 | EMU | Trade Balance s.a. (May) | €1.2B | -€0.3B | ||
| 11:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Jun) | 0.0% | 0.4% | ||
| 11:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Jun) | 1.9% | 2.0% | ||
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