Tuesday, Aug 11, 07:33 GMT
EUROPEAN Trading Newsletter
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- WEBINAR VIDEOS: The Weather Report: Ichimoku Cloud Trading with Chris Capre
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Disciplined Trader: EUR/USD droped as expected − Retrace time? by Pierre Charlebois
I had posted in teh FX Weekly Report to expect more downside. Indeed the price action took the pair lower. The pair is now up against a trend−line and I would expect a retracement now.
FX Market Readings: EURO and GBP are expected to gain by Dr. S. Sivaraman
Chartology: Watching the EUR/USD for a Bounce by Raghee Horner
Sponsored by 
Live Sessions Schedule
London Session Scenarios on GBPUSD & GBPJPY
Expert: Mihai Marinescu
Start: Tue, Aug 11, 08:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Aug 11, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Aug 11, 08:00 GMT | London Session Scenarios on GBPUSD & GBPJPY | Mihai Marinescu | WBN |  |
| Tue, Aug 11, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Aug 11, 16:00 GMT | Drilling down, Support and Resistance | Triffany Hammond | WBN | |
| Tue, Aug 11, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
Current Session: Europe
Downside stays under pressure, although daily losses are relatively small
E−Forex − Downside stays under pressure, the euro closing lower for the 5'th consecutive day. However, except Friday's sell−off, the daily losses are relatively small, which is a sign that this could be a corrective cycle and not a full reversal. Also, total points on this pullback from 1.4445 is 350 points, same size as the recent pullback started at 1.4200 on July 1'st and a bit larger than the pullback of July 28'th to 30'th − from 1.4300. If we are dealing with a recurrent pattern then it is about time to look for a direction switch and resume uptrend, aiming towards the top side at 1.4445.
GBP/USD
GBPUSD has kept pushing lower and staying within the trend lines by FXstreet.com
We had a break of the support level at 1.6563 ignoring the possible inside wedge. We never broke the 20 SMA for the whole move down.
USD/JPY
USDJPY has failed to accelerate lower by DailyFX
The USDJPY has failed to accelerate lower, thus it is more likely that the decline from 101.50 is corrective, just as the rally from 87.10 is corrective.
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 NONFARM PRODUCTIVITY
| Date (GMT) | Event | Cons. | Previous | |
| Aug 11 | 12:30 | Nonfarm Productivity | 5.2% | 1.6% |
Friday Notes - Back on track to growth by UniCredit Group
The index of worked aggregate hours dropped another 8% in 2Q, while real GDP fell a much more benign 1%. Accordingly, productivity (output per hour) has surged. The increase in compensation per hour was most likely more benign than in previous quarters – and certainly lower than the rise in output per hour. As a result, unit labor costs fell in 2Q after three consecutive increases.
[ Full Story ]Market Comment - Deleveraging the U.S. Economy by Comstock Partners Inc.
Top Market Movers Review
Germany CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 11 | 06:00 | Consumer Price Index (MoM) | 0.0% | -0.1% | 0.4% |
| Aug 11 | 06:00 | Consumer Price Index (YoY) | -0.5% | -0.6% | 0.1% |
DATA SNAP: Germany July CPI Unchanged On Month, −0.5% On Yr (Dow Jones)
German consumer prices fell in July, according to final figures from the Federal Statistics Office Tuesday, but less so than the preliminary figures showed.
[ Full Story ]- Read the CPI data at German Statistics
- Germany Jul CPI unchanged on month, −0.5% on year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 11 | 06:00 | DE | Consumer Price Index (MoM) (Jul) | 0.0% | -0.1% | 0.4% |
| 06:00 | DE | Consumer Price Index (YoY) (Jul) | -0.5% | -0.6% | 0.1% | |
| 06:00 | DE | Wholesale Price Index (MoM) (Jul) | -0.5% | 0.1% | 0.9% | |
| 06:00 | DE | Wholesale Price Index (YoY) (Jul) | -10.6% | -9.7% | -8.8% | |
| 08:30 | UK | DCLG House Price Index (YoY) | -11.3% | -12.5% | ||
| 08:30 | UK | Goods Trade Balance (Jun) | -£6.3B | -£6.3B | ||
| 08:30 | UK | Total Trade Balance (Jun) | -£2.30B | -£2.17B | ||
| 12:15 | CA | Housing Starts s.a (YoY) (Jul) | 141.4K | 140.7K | ||
| 12:30 | US | Nonfarm Productivity (2Q)  | 5.2% | 1.6% | ||
| 12:30 | US | Unit Labor Costs (2Q) | -2.3% | 3.0% | ||
Educational Resources
Do you ever ask yourself why other traders seem so successful while you continue to struggle? Don Dawson shares ways to become a better trader by looking at the business of trading as more than just reading the charts. Read the article!
Past Trader's Journal Articles
Plan, execute, and then go do something more important than trading by Sam Seiden
Does size matter? by Don Dawson
If you can't spot it, don't trade it by Gabe Velazquez