Thursday, Jul 23, 07:25 GMT
EUROPEAN Trading Newsletter
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- Learning Center: Chapter B03 "Chart Analysis" is available. Check it out!
- Webinar Videos: The Unwinding Of The G-8 Consensus by Joseph Trevisani
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: GBP/USD Awaits Coming Data for A Catalyst by Tim Salem (CVJ)
We look a bit ahead today and tomorrow with some significant Data Point Releases that may give The Queen some Impetus to really break it's larger Time−Cycle Areas of Consolidation.
The Trader’s Edge: EUR/USD Wave Count & FXstreet.com Tools by Ross Yamashita
Sponsored by 
Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Thu, Jul 23, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
MONTHLY WEBINAR − Part 1: Technical analysis : Price is the King!
Expert: Lea Peters
Start: Thu, Jul 23, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 23, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Thu, Jul 23, 13:00 GMT | MONTHLY WEBINAR − Part 1: Technical analysis : Price is the King! | Lea Peters | WBN |  |
| Thu, Jul 23, 15:00 GMT | MONTHLY WEBINAR − Part 2: Market Symmetry and WDGann Analysis | Lea Peters | WBN | |
| Thu, Jul 23, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
Current Session: Europe
Price is back to the 93.75 – 94.70 range
FXstreet.com Independent Analyst Team − Neutral Hourly Sentiment is Seen after Price is back to the 93.75 – 94.70 range. After breaking the Bearish Trendline yesterday, Price now is testing a minor resistance at 94.30. To the Upside, breaking 94.70 level would send the Price to test the 95.00 key resistance. In the other hand, if the 93.75 level is broken, the support area defined between 93.25 and 93.50 would be tested again.
EUR/USD
Support into the 1.4150/60 region has provided the reversal point by E−Forex
Support into the 1.4150/60 region has provided the reversal point once again on yesterday and the euro is back above 1.4200, testing offers around 1.4250 at the time of this writing.
GBP/USD
Cable hovers at the upper edge of a ‘triangle' formation by Mizuho Corporate Bank
Cable hovers at the upper edge of a ‘triangle' formation one can see that yesterday's price action is a ‘doji' with a ‘spike low' proving that we are looking for direction and that a break higher is likely.
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 RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jul 23 | 08:30 | Retail Sales (MoM) | 0.4% | -0.6% |
| Jul 23 | 08:30 | Retail Sales (YoY) | - | -1.6% |
Friday Notes - We expect June retail sales to have remained stagnant by UniCredit Group
Following a marked contraction in May, we expect June retail sales to have remained stagnant. Surveys of the retail sector, though they have not done a good job in tracking sales dynamics, have either stabilized or marked some improvement in June. Overall, retail sales should have expanded in 2Q at a slightly faster pace than in the previous quarter.
[ Full Story ]Top Market Movers Review
Japan MERCHANDISE TRADE BALANCE TOTAL
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 22 | 23:50 | Merchandise Trade Balance Total | ¥508.0B | - | ¥298.2B |
Japan Jun Trade Surplus Y508.0B; Expected Surplus Y593B (Dow Jones)
Japan's merchandise trade surplus widened in June for the first time in 20 months, expanding by 388.0% from a year earlier to Y508.0 billion, the Ministry of Finance said Thursday.
[ Full Story ]- Read the Trade Balance data at Ministry of Finance
- Japan June trade balance + JPY508 bln Vs +620 expected (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 22 | 14:00 | US | Housing Price Index (MoM) | 0.9% | -0.2% | -0.3% |
| 14:30 | US | EIA Crude Oil Stocks change | -1.8M | -2.8M | ||
| 23:50 | JP | Adjusted Merchandise Trade Balance | ¥438.2B | ¥510.0B | ¥309.5B |
|
| 23:50 | JP | Merchandise Trade Balance Total | ¥508.0B | ¥298.2B |
||
| Jul 23 | 08:00 | EMU | Current Account n.s.a | -€9.2B | ||
| 08:00 | EMU | Current Account s.a | -€2.7B | -€5.9B | ||
| 08:30 | UK | Retail Sales (MoM) | 0.4% | -0.6% | ||
| 08:30 | UK | Retail Sales (YoY) | -1.6% | |||
| 12:30 | US | Continuing Jobless Claims (Jul 11) | 6273K | |||
| 12:30 | US | Initial Jobless Claims (Jul 18) | 522K | |||
Educational Resources
Tracking Correlations Between Equities, Commodities, and Currencies
In the Forex markets, prices move for many reasons. Read Steve Misic's report to know few of the basic business reasons for day−to−day movements in the Forex markets.
Other Lessons from the Pros Articles
Who Are You? - Report by Sam Seiden
Europe on the Brink - Report by John Mauldin
Handling Trading Pressure - Report by Don Dawson