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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!
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- Use our brand new performance table! See ranges for main pairs in % or pips from 5 min to YTD. Go Now!
- WEBINAR VIDEOS: London Session Scenarios on GBPUSD & GBPJPY by Mihai Marinescu
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: Euro and GBP are expected to make wide range swings and slide by Dr. S. Sivaraman
After FOMC, EURO and GBP made the volatile moves and dropped, and dropped further during Early Japanese session.Then firm up and swing near high and make brief upward stop hunts around 6−7 GMT and then slide quickly during Early European session and cut low.
The Disciplined Trader: EUR/USD - Next key support now resides at 1.4700 - Bears taking over? by Pierre Charlebois
Francesc's Weblog: http://m.fxstreet.com Forex Mobile Touches New Highs by Francesc Riverola
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Live Sessions Schedule
Multiple Time Frame Analysis
Expert: Sam Seiden
Start: Thu, Sep 24, 10:00 GMT
Type of Session: Webinar
Quad−CCI Volatility Trading and Trend Identification Explained
Expert: Mark Whistler
Start: Thu, Sep 24, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Sep 24, 10:00 GMT | Multiple Time Frame Analysis | Sam Seiden | WBN |  |
| Thu, Sep 24, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Sep 24, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Thu, Sep 24, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
Current Session: Europe
1.4850, which is the 100% extension of the 1.2327, as turning point
DailyFX − 1.4850, which is the 100% extension of the 1.2327− 1.4723 rally, has been one of the levels that we've been focusing on as a possible turning point. Not only did the high last night come within 10 pips of that level but the top of a 2+ month channel (green) provides resistance as well. A bar reversal pattern today from these levels would give us reason to try the short side.
USD/JPY
USDJPY potential breach by Support at 90.68 by Forex−Trends.com
Very strong bears side acts important role for current situation. Bulls are given up for now, while they are sleeping, further movements downside are expected.
GBP/USD
The Cable faced a strong resistance at 1.6465 by ecPulse.com
Cable faced a strong resistance at 1.6465, which reversed the pair to the downside in correctional movements supported by signs seen on the stochastic indicator.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com, Financial Trend Analysis
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Sep 24 | 14:00 | Existing Home Sales (MoM) | 2.1% | 7.2% |
| Sep 24 | 14:00 | Existing Home Sales | 5.35M | 5.24M |
US G20 MEETING
| Date (GMT) | Event | Cons. | Previous | |
| Sep 25 | 00:00 | G20 Meeting | - | - |
Daily FX Market Commentary - G20 meeting in Pittsburgh this week by Danske Bank A/S
World Bank president Robert Zoellick urges leaders of the G−20 at the Pittsburgh−meeting held this week (see home page) to set "an ambitious agenda for responsible globalisation.
[ Full Story ]- France's Sarkozy: Must Find An Agreement On Bonuses At G−20 (Dow Jones)
- Asian market mixed, caution dominates ahead of Fed, G−20; Euro and Yen bounce up (FXstreet.com)
US DURABLE GOODS ORDERS
| Date (GMT) | Event | Cons. | Previous | |
| Sep 25 | 12:30 | Durable Goods Orders ex Transportation | 0.8% | 0.8% |
| Sep 25 | 12:30 | Durable Goods Orders | 0.3% | 4.9% |
Top Market Movers Review
Japan MERCHANDISE TRADE BALANCE TOTAL
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 23:50 | Merchandise Trade Balance Total | ¥185.7B | ¥157.0B | ¥377.9B |
Japan Aug Trade Surplus Y185.7B; Expected Surplus Y175.5B (Dow Jones)
Japan's merchandise trade surplus widened from a year earlier in August, the Ministry of Finance said Thursday. The surplus rose to Y185.7 billion from a deficit of Y314.2 billion in the same period a year earlier.
[ Full Story ]- Read the Trade Balance data at Japan Ministry of Finance
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 08:30 | Bank of England Minutes | - | - | - |
European Market Update - BOE minutes express some optimism in outlook by TradeTheNews.com
Top Fundamental Stories - BoE voted unanimously for leaving rates steady and not changing APF program by ecPulse.com
European Session: Market Wait for BoE Minutes then FOMC by ACM − Advanced Currency Markets
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 08:00 | Purchasing Manager Index Services | 50.6 | 50.5 | 49.9 |
| Sep 23 | 08:00 | Purchasing Manager Index Manufacturing | 49.0 | 49.8 | 48.2 |
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 24 | 00:00 | US | G20 Meeting | |||
| 01:00 | AU | HIA New Home Sales (MoM) (Aug) | 11.4% | 0.1% | ||
| 04:30 | JP | All Industry Activity Index (MoM) (Jul) | 0.5% | 0.8% | 0.2% |
|
| 08:00 | DE | IFO − Business Climate (Sep) | 92.1 | 90.5 | ||
| 08:00 | DE | IFO − Expectations (Sep) | 96.6 | 95.0 | ||
| 12:30 | US | Continuing Jobless Claims (Sep 12) | 6230K | |||
| 12:30 | US | Initial Jobless Claims (Sep 19) | 546K | 545K | ||
| 14:00 | US | Existing Home Sales (Aug) | 5.35M | 5.24M | ||
| 14:00 | US | Existing Home Sales (MoM) (Aug) | 2.1% | 7.2% | ||
| 23:30 | JP | Nomura/ JMMA Manufacturing Puchasing Manager Index (Sep) | 50.4 | |||
Educational Resources
The Federal Reserve and The FOMC Committee
The Fed is the Central Bank of the United States, setting Monetary Policy and broadly ensuring the stability and development of the US Financial System. Its mandate is the following: the setting of monetary policy; to ensure economic growth and currency stability; to regulate US Banking institutions and to maintain the macro−stability of the US financial system; and to provide financial Services to the US Government. Read whole article!
Related Resources
Learning Center - Interest Rates section in Chapter B02
Forex 30-day Trading Program Course - The Central Banks
How to Trade a News Breakout - Article from The Forex Journal