Wednesday, Sep 09, 07:45 GMT
EUROPEAN Trading Newsletter
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International Traders Conference
LAST SEATS AVAILABLE!
Don't miss the third edition of FXstreet.com's International Traders Conference (ITC) on October 14-16, 2009 in Barcelona. Live Trading next to the experts.
This year's key speakers panel: Valeria Bednarik, Rob Booker, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.
Limited to 60 seats! Register now!
To Get Started
- WEBINAR VIDEOS: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
The Disciplined Trader: Most pairs showing signs of topping? AUD/USD could be turning by Pierre Charlebois
In particular the AUD/USD has reversed hard in the last 4 hours and shows an engulfing bearish candle on the 4 hour chart. If this is not the top and the highs are once again breached the reversal potential remains.
FX Market Readings: Mid week expected moves by Dr. S. Sivaraman
Chartology: AUD/USD Channel Up Pattern Set Up by Raghee Horner
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Sep 9, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Forex Basics Series: Chapter 5 − Technical Figures
Expert: Valeria Bednarik
Start: Wed, Sep 9, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 9, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Sep 9, 12:30 GMT | Forex Basics Series: Chapter 5 − Technical Figures | Valeria Bednarik | WBN |  |
| Wed, Sep 9, 13:30 GMT | US Session Open  | Ed Ponsi | WBN | |
| Wed, Sep 9, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
Current Session: Europe
Daily close above 1.4350 has added to bullish momentum
Mizuho Corporate Bank − A proper break higher, at last! The daily close above 1.4350 has added to bullish momentum, as would a weekly close above 1.4550. Daily and weekly Ichimoku ‘clouds' should provided underlying support to the Euro for weeks to come, and as other currencies strengthen against the US dollar it should help the Euro higher too.
GBP/USD
Rallies should be limited to the 1.6500−1.6600 area by DailyFX
Rallies should be limited to the 1.6500−1.6600 area with the market in the process of attempting to carve out a major head & shoulders−like top on the daily chart that would ultimately project a measured move drop back towards 1.5000
USD/JPY
The USD/JPY pair failed to breach the 92.00 level by ecPulse.com
The USD/JPY pair failed to breach the 92.00 level to continue trading calmly within a minor upside channel, as seen in the minor image. We see gradual inclines in the form a correction to reach 92.65
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 GOODS TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Sep 9 | 08:30 | Goods Trade Balance | -£6.3B | -£6.5B |
New Zealand RBNZ INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 9 | 21:00 | RBNZ Interest Rate Decision | 2.5% | 2.5% |
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 10 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% |
Friday Notes - UK, BoE: Repo rate on hold by UniCredit Group
The BoE should keep the repo rate unchanged this month, and introduce no changes to the outstanding APF. The August Inflation Report clearly indicated that market expectations (for a first rate hike in Q1 2010) were too aggressive, given that nominal demand remains very much subdued despite the ongoing QE program.
[ Full Story ]US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Sep 10 | 12:30 | Trade Balance | - | -$27.01B |
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 10 | 13:00 | BoC Interest Rate Decision | - | 0.25% |
Daily U.S. Forex Summary - Bank of Canada is expected to keep rates on hold by Union Bank of California
[ Full Story ]Top Market Movers Review
Germany CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 9 | 06:01 | Consumer Price Index (YoY) | 0.0% | 0.0% | -0.5% |
| Sep 9 | 06:01 | Consumer Price Index (MoM) | 0.2% | 0.2% | 0.0% |
DATA SNAP: German Aug CPI Confirmed +0.2% On Mo; +1.8% On Yr (Dow Jones)
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 9 | 05:00 | JP | Coincident Index (Jul)  | 89.6 | 88.6 |
|
| 06:00 | JP | Machine Tool Orders (YoY) (Aug) | -71.3% | -72.3% |
||
| n/a | DE | Consumer Price Index (MoM) (Aug) | 0.2% | 0.2% | 0.0% | |
| n/a | DE | Consumer Price Index (YoY) (Aug) | 0.0% | 0.0% | -0.5% | |
| 08:30 | UK | Goods Trade Balance (Jul) | -£6.3B | -£6.5B | ||
| 08:30 | UK | Total Trade Balance (Jul) | -£2.00B | -£2.18B | ||
| 09:30 | UK | BRC Shop Price Index (MoM) (Aug) | 1.3% | |||
| 09:30 | UK | BRC Shop Price Index (YoY) (Aug) | 0.5% | |||
| 11:00 | US | MBA Mortgage Applications (Sep 4) | -2.2% | |||
| 12:15 | CA | Housing Starts s.a (YoY) (Aug) | 138.0K | 132.1K | ||
Educational Resources
Video Forex Trading Program: Day 27
4Xlounge.com's 30−day Trading Program is an EXCLUSIVE course made of 30 short movies. From technical indicators to strategies and risk management, through major economic data and trendlines, all the basics of Forex are covered. Watch today's lesson: Day 27 − Trading Techniques − How much can I make
Related Resources
Watch previous lessons of Forex 30-day Trading Program by 4Xlounge
Forex Jump-Start: Beginners Video Course by 4xLounge