Friday, Oct 02, 07:38 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
The Trader's Edge: NFP: EUR/USD Outlook and EUR/GBP Watch by Ross Yamashita
Hello and welcome to another NFP with Pro Pipper Trading. It'll be interested to see what unfolds for this NFP. The outcome may help reveal some clues to see if the recent downtrend is losing strenght. For the upside, look for NFP movement to potentially hit the 1.4620 area and higher.
FX Market Readings: Expected market moves before and after NFP data release by Dr. S. Sivaraman
Chartology: EUR/USD swing set up in the 30 minute by Raghee Horner
Sponsored by 
Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 41st Edition
Expert: Wayne McDonell
Start: Fri, Oct 2, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Trading Around Your Day Job
Expert: Ryan O'Keefe
Start: Fri, Oct 2, 19:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Oct 2, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 41st Edition | Wayne McDonell | WBN | |
| Fri, Oct 2, 19:00 GMT | Trading Around Your Day Job | Ryan O'Keefe | WBN |  |
| Mon, Oct 5, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Mon, Oct 5, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
Current Session: Europe
EUR/USD: (1.4542) Back in channel 1.3832 and currently below 1.4611
KBC Bank − Drop from 1.4845 (bearish Dark Cloud) puts the pair back in channel off 1.3832 and currently below 1.4611 (see graph)
Support area at 1.4502/ .4497 (reaction low hourly/ 1st target off 1.4611), with next levels at 1.4475 (daily Long Term Moving Average↑) and 1.4468/ .4462 (daily envelope bottom/ daily Uptrendline off March low).
GBP/USD
Overnight weakness has taken GBP to 1.5880. by Charmer Charts.com
Overnight weakness has taken this to 1.5880. Now there is scope for a small retracement today, but currently overhead resistance from the hourly uptrend is looking to cap at 1.5930.
USD/JPY
Struggling under the 9−day moving average by Ace Trader
Struggling under the 9−day moving average with price action since the 21st September looking increasingly like ‘triangle' consolidation or an inverted ‘pennant'.
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 PRODUCER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Oct 2 | 09:00 | Producer Price Index (MoM) | 0.5% | 0.3% |
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| Oct 2 | 12:30 | Nonfarm Payrolls | -188K | -216K |
| Oct 2 | 12:30 | Unemployment Rate | 9.8% | 9.7% |
US: Preview of US September unemployment by Easy Forex
On October 2nd US September unemployment and nonfarm payrolls (nfp) will be released. The September unemployment report will be looked to for confirmation that the US recession is ending and the pace of job losses continues to slow.
[ Full Story ]- GLOBAL MARKETS: European Stocks Seen Lower Ahead Of Payrolls (Dow Jones)
- Forex: Waiting for U.S. Payrolls (FXstreet.com)
Currency Trading News - US Rallies Ahead of NFPs on a Drop in Risk Appetite, Questionable Data by DailyFX
Asia Market Update - Currencies range ahead of US jobs data by TradeTheNews.com
Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 1 | 14:00 | ISM Manufacturing | 52.6 | 53.9 | 52.9 |
UPDATE: US ISM Mfg Activity Expands In Sept For 2nd Month (Dow Jones)
Activity in the U.S manufacturing sector expanded in September for the second consecutive month, another hopeful signal the U.S. economy is getting back on its feet.
[ Full Story ]- Read full survey at ISM
- DATA SNAP: US ISM Mfg Activity Expands For 2nd Month In Sept (Dow Jones)
- US Sep ISM Manufacturing down to 52.6 from 52.9 (FXstreet.com)
U.S: ISM Recovery Yes But No Acceleration—Jobs Lag by Wells Fargo Investments, LLC
Top Fundamental Stories - ISM Manufacturing Continues Expansion in September but Over a Slower Pace! by ecPulse.com
Fundamental Currencies Comments - The Dollar strengthened after the Release of Important U.S. Data by ecPulse.com
US ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 30 | 12:15 | ADP Employment Change | -254K | -200K | -277K |
UPDATE: ADP Survey Sees September US Private−Sector Jobs −254K (Dow Jones)
[ Full Story ]- Read full survey at ADP
- ADP Survey Sees September US Private−Sector Jobs −254K (Dow Jones)
- Forex: ADP employment lost 254k jobs; GBP/USD falls to 1.6050 (FXstreet.com)
- US Sep ADP report sees employment down by 254K (FXstreet.com)
KBC News Picks - US: ADP employment report disappoints by KBC Bank
Top Fundamental Stories - ADP Signals Jobs Losses Continue to Mount, While Pace of Contraction Seemingly Continued to Ease in the United States! by ecPulse.com
Top Fundamental Stories - A recovery is detected within the North−American continent … by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 1 | 23:30 | JP | Jobless Rate (Aug) | 5.5% | 5.8% | 5.7% |
| 23:50 | JP | Monetary Base (YoY) (Sep) | 4.5% | 6.1% | ||
| Oct 2 | 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Sep) | 0.0% | -0.3% | -2.7% |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) (Sep) | 0.9% | 0.7% | 1.4% |
|
| 08:30 | UK | Housing Equity Withdrawal (QoQ) (2Q) | -£8.1B | |||
| 08:30 | UK | PMI Construction (Sep) | 48.1 | 47.7 | ||
| 09:00 | EMU | Producer Price Index (MoM) (Aug) | 0.5% | 0.3% | ||
| 09:00 | EMU | Producer Price Index (YoY) (Aug) | -7.5% | -8.5% | ||
| 12:30 | US | Nonfarm Payrolls | -188K | -216K | ||
| 12:30 | US | Unemployment Rate (Sep) | 9.8% | 9.7% | ||
Educational Resources
Trading Success Can Only Come from Loving to Lose Small and Win Big
How many people do you think would attend a trading seminar that advertised teaching to lose small? My guess is that unless there were a lot of incentives, not many people would show up to these events. The reason − no one likes to hear about losing. Read whole Gabe Velázquez's article!
Other Articles of the Lessons From The Pros
Savvy Investors Use Self−Directed Retirement Plans to Buy Real Estate - Article by Diana Hill
Bad Ticks or Real Ones? - Article by Josip Causic