Friday, Sep 25, 07:41 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
- 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: Massive week end moves by Dr. S. Sivaraman
EURO and GBP made the expected drop yesterday during US session.But GBP made more driop than usual as the players wanting to hit the stops in all GBP related crosses for near month end time. Today holding EURO and further dropping GBP and also USD/YEN they made massive downward stop hunt in GBP/YEN and rise in EURO/GBP.
Chartology: Playing support and resistance in a distribution cycle by Raghee Horner
The Disciplined Trader: EUR/USD Hits daily average move for first time in over 2 weeks by Pierre Charlebois
Sponsored by 
Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Sep 25, 15:00 GMT
Type of Session: Webinar
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Mon, Sep 28, 05:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Sep 25, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN |  |
| Mon, Sep 28, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Mon, Sep 28, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Sep 28, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
Current Session: Europe
Gathering downside momentum as we break below trendline support
Mizuho Corporate Bank − Gathering downside momentum as we break below trendline support, as feared. The question now is which of the three longer term Fibonacci retracement support levels will limit this correction lower. These lie between 1.5700 and 1.4850. Note that the move has been caused by sterling weakness caused by central bank comments as well as fears over the banking system and its long term outlook.
EUR/USD
Eur/$, major top close (but not quite there)... by FXA
The longer term bullish view in eur/$ for nearly the last year, of an extended period of wide ranging, is finally coming near its completion (not quite there yet).
USD/JPY
Reversing to the downside to near the pivot support at 90.35 by ecPulse.com
USD/JPY pair surged to the upside towards 91.60 before gradually reversing to the downside to near the pivot support at 90.35, the neckline for a bearish technical pattern.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
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
US G20 MEETING
| Date (GMT) | Event | Actual | 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)
- Asian Shares Mixed; Caution Before Fed, G−20 Meetings (Dow Jones)
US EXISTING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 14:00 | Existing Home Sales (MoM) | -2.7% | 2.1% | 7.2% |
| Sep 24 | 14:00 | Existing Home Sales | 5.10M | 5.35M | 5.24M |
US Aug Existing Home Sales Dn 2.7% To 5.10 Mln Rate (Dow Jones)
Existing−home sales in the U.S. unexpectedly fell in August, breaking a string of four increases as the housing market struggles to recover.
[ Full Story ]- Read Existing home sales data at NAR
- CORRECT: US Aug Existing Home Sales Dn 2.7% To 5.10 Mln Rate (Dow Jones)
- CURRENCIES: Dollar Turns Up After Weak Home−sales Data (Dow Jones)
- Dollar strengthens after unexpected decline on Existing home sales (FXstreet.com)
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 12:30 | Initial Jobless Claims | 530K | 546K | 551K |
US Jobless Claims −21K To 530K In Sept 19 Week; Survey +5K (Dow Jones)
[ Full Story ]- Read the jobless claims data at US Department of Labor
- Forex: EUR/USD: Euro jumps to 1.4795 day−high after jobless claims data (FXstreet.com)
- US Sep 19 Initial Jobless Claims decline by 21K 530K in Sept 19 week (FXstreet.com)
- DJ Table Of US Initial, Continuing Claims (Dow Jones)
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 08:00 | IFO − Business Climate | 91.3 | 92.1 | 90.5 |
DATA SNAP: German Ifo Index Better In Sep, Short Of Forecast (Dow Jones)
[ Full Story ]- Read Ifo Business Climate Index at CESifo Group
- 2nd UPDATE: German Ifo Seals 3Q Growth; Economists Cautious (Dow Jones)
- UPDATE: German Ifo Index Better In Sep, Short Of Forecast (Dow Jones)
- Forex: EUR/USD: Euro dips below 1.4750 on disappointing Ifo figures (FXstreet.com)
Euroland: IFO climbs a little higher by Danske Bank A/S
Top Fundamental Stories - Germany IFO Survey shows improvement in September, yet came below estimates by ecPulse.com
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 18:15 | Fed Interest Rate Decision | 0.25% | 0.25% | 0.25% |
FED leaves rates unchanged; Dollar plunges across the board (FXstreet.com)
[ Full Story ]- Read the official statement at the Fed
- CURRENCIES: Dollar Firms After Hitting Lows On Fed Decision (Dow Jones)
- WORLD FOREX: Dollar Manages To Gain Vs Euro After Fed Mtg (Dow Jones)
- Forex: Dollar recovers and rises above pre−FOMC levels (FXstreet.com)
U.S: The Fed does not aim at higher rates by X−Trade Brokers, XTB
Weekend Analysis - Fed Speaks Positively...Overbought Brings Market Down...Nasty Topping Candle... by SwingTradeOnline.com
U.S: FOMC keeps rates unchanged and sees sustainable economic recovery by National Bank of Canada
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 25 | 00:00 | US | G20 Meeting | |||
| n/a | DE | Import Price Index (MoM) (Aug) | -0.9% | |||
| n/a | DE | Import Price Index (YoY) (Aug) | -11.3% | -12.6% | ||
| 06:10 | DE | Gfk Consumer Confidence Survey | 4.3 | |||
| 08:00 | EMU | M3 (YoY) (Aug) | 2.7% | 3.0% | ||
| 08:30 | UK | Total Business Investment (QoQ) (2Q) | -7.6% | |||
| 08:30 | UK | Total Business Investment (YoY) (2Q) | -9.7% | |||
| 09:30 | CH | KOF Leading Indicator (Sep) | -0.04 | |||
| 12:30 | US | Durable Goods Orders (Aug) | 0.3% | 4.9% | ||
| 12:30 | US | Durable Goods Orders ex Transportation (Aug) | 0.8% | 0.8% | ||
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