Thursday, Aug 20, 07:39 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
The Trader's Edge: EUR/USD − Still in Impulse wave up? by Ross Yamashita
Continuing with Vytas's post/comment from earlier this week, let's take a look at the EUR/USD. It was asked if we think the EUR/USD is still in an impulse movement up.
The Day Job Trader: Why Managing Profit is Important by Ryan O'Keefe
Sponsored by 
Live Sessions Schedule
London Session Scenarios on GBPUSD & GBPJPY
Expert: Mihai Marinescu
Start: Thu, Aug 20, 08:00 GMT
Type of Session: Webinar
Looking for day−trades
Expert: Adam Rosen
Start: Thu, Aug 20, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Aug 20, 08:00 GMT | London Session Scenarios on GBPUSD & GBPJPY | Mihai Marinescu | WBN |  |
| Thu, Aug 20, 10:00 GMT | Who Is On The Other Side Of Your Trade?  | Sam Seiden | WBN | |
| Thu, Aug 20, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Aug 20, 14:00 GMT | Looking for day−trades | Adam Rosen | WBN | |
Current Session: Europe
EUR/USD: 1.4300−1.4350 region to provide resistance on rallies
InnerFX − Yesterday's rally into the 1.4230/50 resistance zone occurred as anticipated and the said resistance is still valid. The euro holds steady, consolidating throughout the Asian trading session into a narrow range below 1.4250. The daily chart shows that we have yet to overcome 1.4300 to re−establish uptrend. Watch for the entire 1.4300−1.4350 region to provide resistance on rallies.
GBP/USD
Cable, another upleg..... by FXA
Cable has corrected lower from the Aug 5th high at 1.7040 and remains overbought after the sharp gains from the Jan low at 1.3505.
USD/CAD
Downtrend should continue on 1,0825 support by Mataf.net
4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The price should find a resistance below 1,1000 (34 pips). The downtrend should continue on 1,0825 support (141 pips).
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 | |
| Aug 20 | 08:30 | Retail Sales (YoY) | 2.7% | 2.9% |
| Aug 20 | 08:30 | Retail Sales (MoM) | 0.4% | 1.2% |
Valeria Bednarik, Chief Analyst at FXstreet.com: "Despite IMF calling for a recovery around the world, macroeconomic data of the last two weeks have been arming the optimism about a recovery, sending investors back to safe havens. Retail Sales in the U.K., expected to rose only 0.3% compared to previous month 1.2%, will add to negative sentiment against Pound, unless reading come out much better than expected. A drop in retail sales will show a weak consumer demand, and readings under forecast number, could trigger a selloff in Gbp, mostly after this Wednesday BOE Minutes that show at least 3 of the 9 members would have like to extend QE to 75Bl instead of the final 50Bl."
Top Market Movers Review
Canada LEADING INDICATORS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 19 | 12:30 | Leading Indicators (MoM) | 0.4% | 0.2% | -0.1% |
Canada Jul MoM Leading Indicators rise 0.4% (FXstreet.com)
[ Full Story ]- Read the Leading Indicators data at Statistics Canada
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 19 | 12:30 | CA | Leading Indicators (MoM) (Jul) | 0.4% | 0.2% | -0.1% |
| 14:30 | US | EIA Crude Oil Stocks change | -8.4M | 1.1M | 2.5M | |
| Aug 20 | 01:30 | AU | RBA Foreign Exchange Transaction (Jul) | 705M | 1943M | |
| 06:15 | CH | Trade Balance (Jul) | 2.35B | 1.79B | 1.50B |
|
| 08:30 | UK | M4 Money Supply (MoM) (Jul)  | 0.2% | -0.2% | ||
| 08:30 | UK | M4 Money Supply (YoY) (Jul) | 13.3% | 13.8% | ||
| 08:30 | UK | Public Sector Net Borrowing (Jul) | £0.6B | £13.0B | ||
| 08:30 | UK | Retail Sales (MoM) (Jul) | 0.4% | 1.2% | ||
| 08:30 | UK | Retail Sales (YoY) (Jul) | 2.7% | 2.9% | ||
| 09:00 | CH | ZEW Survey − Expectations (Aug) | 0 | |||
Educational Resources
Same Tools, Different Thoughts
This week, we will look at the following concept − if you bring herd mentality mindset to competing in the trading markets, you will likely hand your account over to those who think differently and think the markets properly. Read whole Sam Seiden's article!
Other articles of this week's Lessons from the Pros
Beware of the Ponzi Trap in Forex - Article by Steve Misic
The Statistical Recovery - Article by John Mauldin
Placing a Vertical Spread with TradeStation - Article by Online Trading Academy Team
Exit Strategies - Article by Don Dawson