Monday, Jul 20, 07:43 GMT
EUROPEAN Trading Newsletter
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- Learning Center: Chapter B03 "Chart Analysis" is available. Check it out!
- Webinar Videos: Updated 2009 Markets Forecasts - Perception vs. Reality in the Globalization 3.0 Credit Bubble by John W O'Donnell
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: Forex Levels to Watch (Week of Jul 20−24, 2009) by James Chen
Here are some key support/resistance price areas to watch for (breaks/bounces/targets) in the forex market during the upcoming trading week of July 20−24, 2009.
FX Market Readings: Week beginning volatile moves by Dr. S. Sivaraman
ForexHedge: FX Ranking by Ron Schelling
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, Jul 20, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Jul 20, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jul 20, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Jul 20, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Jul 20, 12:00 GMT | Advanced Fibonacci Tools | Valeria Bednarik | WBN |  |
| Mon, Jul 20, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
Current Session: Europe
EUR/USD: If 1.4170 level is finally broke, expect strong resistance at 1.4200 to be tested
FXstreet.com Independent Analyst Team − Neutral Hourly Sentiment is Seen in the Immediate−Term as Price is moving inside the 1.4050 − 1.4170 range, trying to break an important Resistance. If 1.4170 level is finally broke, we would expect the Price to test a very strong resistance at 1.4200. To the Downside, Failure to hold 1.4050 Support would confirm an Hourly Double Top pattern which could lead the Price to test again 1.3950 level.
GBP/USD
Cable held support at 1.6220 and travelled higher by Charmer Charts.com
Cable held support at 1.6220 and travelled higher. We still have the downtrend line we have been watching and this again comes in around 1.6490.
USD/JPY
USDJPY closedat 94.20 which was above the open by Precise Trader
USDJPY closed @ 9420 which was above the open but within prior day's trading range. The Low was 25 pips away from Precise Traders Forecast Support Zone 1.
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 LEADING INDICATORS
| Date (GMT) | Event | Cons. | Previous | |
| Jul 20 | 14:00 | Leading Indicators (MoM) | 0.5% | 1.2% |
Friday Notes - Index of Leading Indicators: Up strongly by UniCredit Group
Apart from consumer confidence, which eased slightly in June, all of the ten leading indicators contributed to the increase of the composite index. The largest contribution came from a steeper yield curve, followed by an increase in real money supply and a pick−up in the S&P500. With our monthly forecast, the index of leading indicators would have risen an annualized 131⁄2% between March and June – the largest 3M increase since early 2002.
[ Full Story ]Top Market Movers Review
Germany PRODUCER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 20 | 06:00 | Producer Price Index (MoM) | -0.1% | 0.5% | 0.0% |
| Jul 20 | 06:00 | Producer Price Index (YoY) | -4.6% | - | -3.6% |
DATA SNAP: German Factory Gate Prices Drop Further In June (Dow Jones)
German factory−gate price deflation accelerated in June, as prices posted their strongest annual decline since the winter of 1986.
[ Full Story ]- Read the Producer prices June 2009 at Statistisches Bundesamt Deutschland
- Germany Producer Price Index drops 0.1% in Jun; 4.6% down on year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 20 | 01:30 | AU | Producer Price Index (QoQ) | 2.1% | -0.2% | -0.4% |
| 01:30 | AU | Producer Price Index (YoY) | -0.8% | 4.0% | ||
| 06:00 | DE | Producer Price Index (MoM) | -0.1% | 0.5% | 0.0% | |
| 06:00 | DE | Producer Price Index (YoY) | -4.6% | -3.6% | ||
| 08:30 | UK | M4 Money Supply (MoM)  | 0.4% | 0.2% | ||
| 08:30 | UK | M4 Money Supply (YoY) | 16.6% | |||
| 12:30 | CA | Foreign investment in Canadian securities | $9.05B | |||
| 12:30 | CA | Wholesale Sales (MoM) | -0.6% | |||
| 14:00 | US | Leading Indicators (MoM) | 0.5% | 1.2% | ||
| 17:30 | US | Fed's Lockhart speech | ||||
Educational Resources
Simple Logic Always Beats Complex Illusion
Often, the obvious can stare you right in the face and you will never realize it, the illusive obvious. As humans, we often look deeper into issues when attempting to resolve them which often ends up making the issue more complicated. Read Sam Seiden's article!
Other Articles:
Forex Web Resources - Report by Steve Misic
Buddy, Can You Spare $5 Trillion? - Report by John Mauldin
A Summer of Doji−ing Around - Report by Online Trading Academy Team