Monday, Jul 27, 07:43 GMT
EUROPEAN Trading Newsletter
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To Get Started
- Forex Tools renewed! Check out the brand new features: Margin Calculator and Carry Trade Calculator
- Learning Center: Chapter B03 "Chart Analysis" is available. Check it out!
- Webinar Videos: Economic and Technical View of the Currency Market by Rob Booker
- 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 27−31, 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 27−31, 2009.
ForexHedge: Scale of Market Quakes (SMQ) by Ron Schelling
Trade Setups: The next bubble to burst is hope by Phil Newton
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 27, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jul 27, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jul 27, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Jul 27, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Jul 27, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jul 27, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
The strongest weekly close since September
Mizuho Corporate Bank − The strongest weekly close since September above the top of the large weekly Ichimoku ‘cloud' and the 50% Fibonacci level. Still hovering under this year's high at 1.4339 but increasing bullish momentum should ensure a break above here this week. Implied volatility should pick up next.
GBP/USD
GBPUSD: Closes Marginally Higher, Holds Above Its MT Rising Trendline by FXTechstrategy
While hesitation was seen on further upside gains the past week, GBP still managed to close slightly higher maintaining above its MT rising trendline.
USD/JPY
Hourly Trend is Sideways while 9420 holds by Precise Trader
USDJPY closed @ 9480 which was marginally BELOW the open .The High and Low was PRECISELY on our Precise Traders Report Zone 1. The Hourly Oscillators are MIXED and price is testing the MA, so the CAUTIOUS approach is needed.
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 NEW HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jul 27 | 14:00 | New Home Sales (MoM) | 2.3% | -0.6% |
| Jul 27 | 14:00 | New Home Sales | 350K | 342K |
Friday Notes - In June, sales likely pulled back somewhat by UniCredit Group
After plummeting by 75% since mid−2005, sales of new homes apparently found a bottom at the beginning of this year. Since January, they are moving within a narrow range of about 330k to 350k units. In June, sales likely pulled back somewhat as mortgage rates surged at the beginning of the month. We do not think, however, that they will fall below their January low of 329k.
[ Full Story ]Top Market Movers Review
Germany GFK CONSUMER CONFIDENCE SURVEY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 27 | 06:00 | Gfk Consumer Confidence Survey | 3.5 | - | 3.0 |
German GfK Aug Consumer Sentiment At 3.5 Vs 3.0 Jul (Dow Jones)
German consumer confidence rose again in the last month, according to a survey published Monday by the GfK research institute. GfK said its consumer confidence index for August rose to 3.5 from 3.0 for July. GfK revised July's reading up from a preliminary 2.9.
[ Full Story ]- Read the official data at Gfk
- UPDATE: German GfK Aug Consumer Sentiment 3.5 Vs 3.0 Jul (Dow Jones)
- Germany: Gfk Consumer Confidence Index rises to 3.5 in Aug from vs 3.0 in Jul (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 27 | 06:00 | DE | Gfk Consumer Confidence Survey | 3.5 | 3.0 |
|
| 06:00 | DE | Import Price Index (MoM) | 0.4% | 0.9% | 0.0% | |
| 06:00 | DE | Import Price Index (YoY) | -11.3% | -10.4% | ||
| n/a | UK | Nationwide Housing Prices n.s.a (YoY) | -9.3% | |||
| 08:00 | EMU | M3 (YoY) | 3.7% | |||
| 14:00 | US | New Home Sales | 350K | 342K | ||
| 14:00 | US | New Home Sales (MoM) | 2.3% | -0.6% | ||
| 22:00 | US | Fed's Bernanke Speech | ||||
| 22:45 | NZ | Trade Balance | 858M | |||
| 23:30 | JP | Nomura/ JMMA Manufacturing Puchasing Manager Index | 48.2 | |||
Educational Resources
Educator of the Month: Wayne McDonell
Wayne McDonell is a professional FOREX trader with an Entrepreneurial spirit and a business leader's mind. He trades his own funds and trains others how to do so consistently and profitably by coaching them everyday... in the live FOREX markets. Wayne has been a close contributor of FXstreet.com for many years. Check the links below!
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 39th Edition, Aug 7 2009 - Register now
Strategic & Tactical FOREX Trading (Part 1) - Webinar recording
Strategic & Tactical FOREX Trading (Part 2) - Webinar recording
The FX Bootcamp Guide to Strategic and Tactical Forex Trading - Wayne's book
FxBootcamp - Follow Wayne's Video Trade Journal Blog