Friday, Jul 31, 08:23 GMT
EUROPEAN Trading Newsletter
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To Get Started
- US GDP Live Coverage: Friday, at 12:00 GMT Live with Nick Nasad from the Homepage and the Calendar
- WEBINAR VIDEOS: Bollinger Bands and RSI with Valeria Bednarik
- Forex Tools renewed! Check out the brand new features: Margin Calculator and Carry Trade Calculator
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: Optimistic US GDP Report Due Up Friday – Dollar Rallies by Jerry Furst
The Consensus Range for Friday's US GDP is −2.8 to 0.7, with a consensus number of −0.7% growth . This is highly optimistic since last month's GDP number came in at a negative −5.5%.
FX Market Readings: Month end expected moves by Dr. S. Sivaraman
The disciplined trader: EUR/USD moved off bottom trendline - Diagonal on track by Pierre Charlebois
Sponsored by 
Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Fri, Jul 31, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Jul 31, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 31, 09:00 GMT | Trading the Harmonic patterns  | Sunil Mangwani | WBN |  |
| Fri, Jul 31, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Fri, Jul 31, 13:30 GMT | US Session Open | Ed Ponsi | WBN |  |
| Fri, Jul 31, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe
GBP/USD is breaking a strong Resistance at 1.6550
FXstreet.com Independent Analyst Team − Bullish Hourly Sentiment is Seen in the Immediate−Term, as Price is breaking a strong Resistance at 1.6550. Next levels to test are 1.6580 and 1.6615 but Price needs to retrace before reaching those levels as RSI is very overbought.
USD/JPY
Prices break above and close over the 50% Fibonacci resistance by Mizuho Corporate Bank
Very messy as prices break above and close over the 50% Fibonacci resistance. Moving averages have just turned bullish yet we remain below the Ichimoku ‘cloud'. Stand aside if possible.
EUR/USD
Eur/Usd has bounced off the lows by Charmer Charts.com
Eur/Usd has bounced off the lows, but as you can see from the above chart, the upside is being currently contained by the previous uptrend line which is now acting as resistance.
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 GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Jul 31 | 12:30 | Gross Domestic Purchases Price Index | - | -1% |
| Jul 31 | 12:30 | Gross Domestic Product Annualized | - | -5.5% |
| Jul 31 | 12:30 | Real Personal Consumption Expenditures (QoQ) | - | 1.4% |
Friday Notes - In 2Q, the US economy likely contracted for the fourth consecutive quarter by UniCredit Group
[ Full Story ]Top Market Movers Review
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 30 | 23:01 | Gfk Consumer Confidence | -25 | - | -25 |
UK GfK July Consumer Confidence −25, Flat On Month (Dow Jones)
U.K. consumer confidence remained steady in July, suggesting that consumers are waiting to see if the measures taken by the government and the Bank of England to support the economy are likely to work.
[ Full Story ]- Read the Confidence data at GfK NOP
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 31 | 01:30 | AU | Private Sector Credit (MoM) (Jun) | 0.1% | 0.1% | -0.1% |
| 01:30 | AU | Private Sector Credit (YoY) (Jun) | 3.4 | 3.4 | 3.9 | |
| 05:00 | JP | Construction Orders (YoY) (Jun) | -28.0% | -41.9% | ||
| 05:00 | JP | Housing Starts (YoY) (Jun) | -32.4% | -30.7% | -30.8% | |
| 09:00 | EMU | Consumer Price Index (MoM) (Jul)  | 0.2% | |||
| 09:00 | EMU | Consumer Price Index (YoY) (Jul) | -0.1% | |||
| 09:00 | EMU | Unemployment Rate (Jun) | 9.5% | |||
| 09:30 | CH | KOF Leading Indicator (Jun) | -1.46 | -1.65 | ||
| 12:30 | US | Employment Cost Index (2Q) | 0.3% | |||
| 12:30 | CA | Gross Domestic Product (MoM) (May) | -0.4% | -0.1% | ||