Friday, Aug 28, 07:39 GMT
EUROPEAN Trading Newsletter
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- WEBINAR VIDEOS: Trading the Harmonic patterns by Sunil Mangwani
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Day Job Trader: Channel Falls, Looking for a Deal by Ryan O'Keefe
Lots of GBP/USD selling this week, guess we have our answer on whether or not support would hold. At this time I'm in "bargain day" mode for a selling opportunity. The chart shows and area of interest to me. This pair offered a good bargain day trade last week, may have to wait a bit for the next one. I hope your having a great trading week!
FX Market Readings: Week end surprises by Dr. S. Sivaraman
The Disciplined Trader: GBP and EUR VS USD by Pierre Charlebois
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Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Aug 28, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Aug 28, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN |  |
| Mon, Aug 31, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Mon, Aug 31, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Aug 31, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
Current Session: Europe
The Euro versus Dollar pair was limited at the 50% correction at 1.4210 yesterday
ecPulse.com − The Euro versus Dollar pair was limited at the 50% correction at 1.4210 yesterday, and was able to rebound to the upside to reach the expected target at 1.4375, after closing above the pivot support at 1.4250. Continuous closing below 1.4375, has yet to confirm the uptrend, where we expect a possible downside correction to reach 1.4290, before rebounding back to the upside to breach 1.4375 and target 1.4550. The 1.4210 level remaining intact is needed for the pair to incline.
GBP/USD
Cable holds steady ahead of today's GDP data release by InnerFX
After it recovered some of its recent losses on yesterday but the 150 points intra−day gain is far from influencing the short−term sentiment which remains highly bearish.
USD/CHF
USD CHF is in a consolidation after the last bearish movement by Mataf.net
The volatility is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,0550 / 1,0635 range.
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 CONSUMER CONFIDENCE
| Date (GMT) | Event | Cons. | Previous | |
| Aug 28 | 09:00 | Consumer Confidence | -21 | -23 |
| Aug 28 | 09:00 | Economic Confidence | 78 | 76 |
| Aug 28 | 09:00 | Industrial Confidence | -28 | -30 |
EMU economic indicators - EMU industrial confidence and economic sentiment (August): up by BHF−Bank
The German GfK consumer confidence for September will probably have improved too, just like the Belgian business confidence, the Italian consumer confidence and the EMU economic sentiment and industrial confidence in August. Two opposing forces are affecting bank balance sheets at the moment. On the one hand, (short term) interest rates are very low. As there is little incentive for investors or depositors to tie up their money, funds are held as overnight deposits. On the other hand, the deleveraging process is continuing. To improve capital ratios, banks are trying to reduce their holdings of risky assets or, at least, trying to avoid giving additional loans.
[ Full Story ]Top Market Movers Review
Japan NATIONAL CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 27 | 23:30 | National CPI Ex Food, Energy (YoY) | -0.9% | -0.8% | -0.7% |
| Aug 27 | 23:30 | National Consumer Price Index (YoY) | -2.2% | -2.2% | -1.8% |
| Aug 27 | 23:30 | National CPI Ex−Fresh Food (YoY) | -2.2% | -2.2% | -1.7% |
Japan July Core CPI −2.2% On Year; Mkt Expected −2.2% (Dow Jones)
Japan's core consumer price index fell at a record pace for the third straight month in July due to cheaper commodities and shrinking domestic demand.
[ Full Story ]- Read the CPI data at Statistics Bureau
- Japan July, Tokyo August CPI Table Of Data (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 27 | 23:30 | JP | Tokyo Consumer Price Index (YoY) (Aug) | -1.6% | -1.8% | -1.8% |
| 23:30 | JP | Tokyo CPI ex Food, Energy (YoY) (Aug) | -1.1% | -1.2% | -1.1% | |
| 23:30 | JP | Tokyo CPI ex Fresh Food (YoY) (Aug) | -1.9% | -1.8% | -1.7% |
|
| Aug 28 | 03:00 | NZ | M3 Money Supply (YoY) (Jul) | 3.8% | 2.7% | |
| 08:30 | UK | Gross Domestic Product (QoQ) (1Q)  | -0.8% | -2.4% | ||
| 08:30 | UK | Gross Domestic Product (YoY) (2Q) | -5.6% | -5.6% | ||
| 08:30 | UK | Index of Services (Jul) | -1% | |||
| 09:00 | EMU | Consumer Confidence (Aug) | -21 | -23 | ||
| 09:00 | EMU | Economic Confidence (Aug) | 78 | 76 | ||
| 09:00 | EMU | Industrial Confidence (Aug) | -28 | -30 | ||