Monday, Aug 24, 07:40 GMT
EUROPEAN Trading Newsletter
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- Learning Center: New Chapter: Japanese Candlesticks - Check it out!
- WEBINAR VIDEOS: Why Volatility: Probability Matter Within Forex Trading by Mark Whistler
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- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: Volatile moves for week beginning by Dr. S. Sivaraman
EURO and GBP made the swing and instead of firming up made the dip below low towards close of Japanese session as the players are busy handling the crosses − making contrarian moves.
The Day Job Trader: Is GBP/USD Preparing a Breakout? by Ryan O'Keefe
The Trader's Edge: EUR/USD Outlook by Ross Yamashita
Sponsored by 
Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Aug 24, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Aug 24, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Aug 24, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Aug 24, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Aug 24, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Aug 24, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
Failure to break 1.4399 will see this market deteriorate, with 1.4045 as weekly target
Charmer Charts.com −Eur/Usd remains under pressure unless this trades above the resistance line at 1.4399. Failure to break above here will see this market deteriorate this week with 1.4045 the weekly target.
Now this is the weekly level. For today we have support located at 1.4305/1.4295. This is your first fib retracement target. This has currently held prices, so a move up to the highs of 1.4399 should not be ruled out.
GBP/USD
Hourly Trend is Sideways while 1.6450 holds by Precise Trader
Hourly Trend is Sideways while 16450 holds and Daily Trend is also Sideways while 16835 holds, so expect the price to be Choppy until the breakout happens.
USD/JPY
USD/JPY on correction, to reach 95.55 by ecPulse.com
The USD/JPY is correcting to the upside where we believe this correction is to reach 95.55 – 50% correction – to touch the key resistance for the downside channel.
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
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Aug 24 | 09:00 | Industrial New Orders (YoY) | -28.6% | -30.1% |
| Aug 24 | 09:00 | Industrial New Orders s.a. (MoM) | 1.7% | -0.2% |
Euroland: Expansion by Danske Bank A/S
The manufacturing new orders index increased from 50.4 to 53.4. At the same time inventories of finished goods declined slightly and are not far from the record low they hit in May. As a result the manufacturing new order−inventory balance has increased slightly to a new record high level, signalling that the strong increases in manufacturing PMI will continue in the coming months.
[ Full Story ]Top Market Movers Review
US EXISTING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 21 | 14:00 | Existing Home Sales (MoM) | 7.2% | 2.3% | 3.6% |
| Aug 21 | 14:00 | Existing Home Sales | 5.24M | 5.00M | 4.89M |
Top Fundamental Stories - Existing Home Sales Rise Unexpectedly as Improvement Prevails! by ecPulse.com
[ Full Story ]- Read the Existing Home Sales data at NAR
- Forex: USD/JPY: Dollar bounces from 93.40 to 94.40 on housing data (FXstreet.com)
- US Existing Home Sales−STATS (Dow Jones)
- Forex: EUR/USD: Euro soars to 1.4375 after housing data (FXstreet.com)
Top Fundamental Stories - Existing Home Sales Should Signal Recovery is Ongoing! by ecPulse.com
Forex Daily Analysis - Forex Trading − USD to Go Volatile on U.S. Homes Sales and Bernanke Speech by ForexYard
The Week Ahead - Housing Starts, PPI, LEI and Existing Home Sales by BBVA Bancomer
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 24 | 01:30 | AU | New Motor Vehicle Sales (MoM) (Jul) | -6.9% | 5.8% |
|
| 01:30 | AU | New Motor Vehicle Sales (YoY) (Jul) | -10.4% | -7.2% | ||
| 09:00 | EMU | Industrial New Orders (YoY) (Jun) | -28.6% | -30.1% | ||
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Jun) | 1.7% | -0.2% | ||
| 12:30 | CA | Retail Sales (MoM) (Jun) | 0.0% | 1.2% | ||
| 12:30 | CA | Retail Sales ex Autos (MoM) (Jun) | 0.2% | 0.7% | ||
| Aug 25 | 03:00 | NZ | RBNZ Inflation Expectations q/q (3Q) | 2.2 | ||
| 06:00 | DE | Gross Domestic Product n.s.a (YoY) (2Q) | -7.1% | -6.4% | ||
| 06:00 | DE | Gross Domestic Product s.a (QoQ) (2Q) | 0.3% | -3.5% | ||
| 06:00 | DE | Gross Domestic Product w.d.a (YoY) (2Q) | -5.9% | -6.7% | ||
Educational Resources
Educator of the Month: Ashraf Laidi
Ashraf Laidi is an experienced analyst, Chief Strategist at CMC Markets, author of "Currency Trading & Intermarket Analysis" and founder of AshrafLaidi.com. He's a close contributor of FXstreet.com and will also be Key Speaker at FXstreet.com's International Traders Conference in Barcelona on October 14−16. Check his author's page to know more about him and his contents!
Currency Trading and Intermarket Analysis - Book
International Traders Conference (ITC 09) Barcelona - Mr. Laidi will be Key Speaker at the event