Wednesday, Sep 30, 07:36 GMT
EUROPEAN Trading Newsletter
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- 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
1st on Forex: GDP Report Due − Charts of Future Past − Posted by Jerry Furst
US News Scheduled For Wednesday is loaded as we lead up to Friday's Non Farm Payroll report. ADP Job numbers come out at 8:15 followed by the GDP and Corporate Profits report at 8:30am. Chicago PMI then follows at 9:45am.
The Disciplined Trader: Lesson in divergence by Pierre Charlebois
Chartology: USD/JPY 30 min Rising Wedge by Raghee Horner
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Sep 30, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Sep 30, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 30, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Sep 30, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Sep 30, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN |  |
| Wed, Sep 30, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
Current Session: Europe
Above yesterday's high at 1.4646 allow for squeeze to 9−day average at 1.4683
Mizuho Corporate Bank − A small bounce from support at 50% Fibonacci retracement and 26−day moving average at 1.4500. If we can take out yesterday's high at 1.4646 allow for a squeeze to the 9−day average at 1.4683. Hardly compelling stuff but that's what we have to expect for a period of correction and consolidation.
USD/JPY
Strong demand for USD at the Tokyo month−end fix by Saxo Bank
Early market talk in Asia was for very strong demand for USD at the Tokyo month−end fix (12 months ago similar sentiment saw USDJPY jump over 100 points)and so traders were heavily positioned long of dollars ahead of that.
GBP/USD
Pair could retreat to levels between 1.5910 and 1.5880 by ecPulse.com
The stochastic indicator has entered an overbought area, which makes us believe the pair is to decline on the intraday basis; targeting levels between 1.5910 and 1.5880, before attempting to pressure to the downside further to reach 1.5550.
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
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Sep 30 | 09:00 | Consumer Price Index (YoY) | - | -0.2% |
US ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Cons. | Previous | |
| Sep 30 | 12:15 | ADP Employment Change | -194K | -298K |
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Sep 30 | 12:30 | Gross Domestic Product Annualized | -1.2% | -6.4% |
| Sep 30 | 12:30 | Gross Domestic Purchases Price Index | 0.0% | -1.4% |
US economic indicators - Q2 GDP could be revised downward to –1.2% qoq by BHF−Bank
In the first two estimates, the Commerce Departments calculated that GDP fell by 1.0% qoq annualised in the 2nd quarter. As the decline in inventories and the trade deficit were somewhat higher in June than initially thought, the estimate for the change in Q2 could be revised downward to –1.2% qoq.
[ Full Story ]Four Big Economic Indicators to Watch by Money and Markets
US ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Oct 1 | 14:00 | ISM Manufacturing | 53.9 | 52.9 |
Weekly Focus - US ISM and employment data is the main event next week by Danske Bank A/S
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| Oct 2 | 12:30 | Nonfarm Payrolls | -188K | -216K |
Friday Notes - Monthly employment report: Still not out of the woods by UniCredit Group
As the recession ended and production keeps rising, the number of job losses has declined appreciably. The ongoing downward trend in initial jobless claims corroborates that, in particular, the pace of layoffs is slowing down.
[ Full Story ]Weekly Focus - US ISM and employment data is the main event next week by Danske Bank A/S
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 30 | 02:00 | NZ | Business Confidence (Sep) | 49.1 | 34.2 | |
| 05:00 | JP | Annualized Housing Starts (Aug) | 0.676M | 0.775 | 0.746M |
|
| 05:00 | JP | Construction Orders (YoY) (Aug) | 25.2% | -42.8% |
||
| 05:00 | JP | Housing Starts (YoY) (Aug) | 38.3% | -31.6% | -32.1% | |
| 07:55 | DE | Unemployment Change (Sep) | 19K | -1K | ||
| 08:30 | UK | Index of Services (Jul) | -0.6% | |||
| 09:00 | EMU | Consumer Price Index (YoY) (Sep) | -0.2% | |||
| 09:30 | CH | KOF Leading Indicator (Sep) | -0.04 | |||
| 11:00 | US | MBA Mortgage Applications (Sep 25) | 12.8% | |||
| 12:15 | US | ADP Employment Change (Sep) | -194K | -298K | ||
Educational Resources
It's All in Your Head...Part 1
Sam Evans gets down to the roots of successful trading. Success does not lie in the strategy or the indicator, but rather in the application of the strategy, and the efficiency of this application lies firmly in the hands of the individual. Read whole Sam Evans' article!
Related Resources
It's All in Your Head - Part 2: The Fear of Loss - Article by Sam Evans
This week featured article Things You May Want To Know - Article by Sam Seiden