Friday, Oct 09, 07:40 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Tech Trading: GBP/JPY Daily Outlook by César B. Leiceaga
A bullish divergence has been formed on the RSI indicator suggesting that a rally to 145,00 −146,00 resistance area could take place over the coming days/weeks. (see RSI on chart building higher lows?)
FX Market Readings: Time for their intentions to be revealed by Dr. S. Sivaraman
FxBootcamp: FOREX VIDEO - Pre London Outlook October 9th 2009 by David R Pegler
Sponsored by 
Live Sessions Schedule
Live Trading Set Ups with Chart Patterns and Market Cycles
Expert: Raghee Horner
Start: Fri, Oct 9, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Oct 9, 13:00 GMT | Live Trading Set Ups with Chart Patterns and Market Cycles  | Raghee Horner | WBN |  |
| Mon, Oct 12, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Mon, Oct 12, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Mon, Oct 12, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
Current Session: Europe
EUR/USD: (1.4731) Back above channel 1.3832
KBC Bank − Rebound off 1.4480 puts the pair back above channel off 1.3832 (see graph) and retested reinstalled inverted daily channel top off June low (1.4783 today).
Support area at 1.4690 (break−up hourly), with next levels at 1.4673/ .4659 (daily Bollinger midline/ daily Medium Term Moving Average→): ideal area to stay above to keep current short term outlook intact for €.
GBP/USD
The .9100 resistance has provided a temporary reversal point by InnerFX
The .9100 resistance has provided a temporary reversal point on yesterday and Intra−day sentiment is currently bearish but the short−term momentum remains highly positive.
USD/JPY
eekly close below 88.75 would add bearish pressure by Mizuho Corporate Bank
Another strong intra−day rally was stalled by the 9−day moving average and the top of the ‘triangle'. The US dollar is no longer oversold and bearish momentum remains steady; a weekly close below 88.75 would add to this.
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
UK TOTAL TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 9 | 08:30 | Total Trade Balance | -£2300.00 | -£2.45B |
US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 9 | 12:30 | Trade Balance | -$32.70B | -$31.96B |
US economic indicators - Trade balance (Aug): Rising slightly due to higher prices by BHF−Bank
The nominal trade deficit unexpectedly widened by $4.5bn to $32.0bn in July. Both imports and exports went up significantly, but import growth (+4.7% mom) outpaced export growth (+2.2% mom) by far. This was partly connected with high demand for vehicles due to CARS.
[ Full Story ]Top Market Movers Review
Germany CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 9 | 06:00 | Consumer Price Index (MoM) | -0.4% | -0.4% | 0.2% |
| Oct 9 | 06:00 | Consumer Price Index (YoY) | -0.3% | -0.3% | 0.0% |
DATA SNAP: German Final Sep CPI −0.4% On Month; −0.3% On Yr (Dow Jones)
[ Full Story ]- Read the CPI data at German Statistics
- Germany Sep CPI decreases 0.4% MoM and 0.3% YoY (FXstreet.com)
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:45 | ECB Interest Rate Decision | 1% | 1% | 1% |
Flash Comment - ECB meeting: Upside risks by Danske Bank A/S
ECB kept policy rates on hold as expected and Trichet noted that the judgment today is very close to the judgment a month ago.
[ Full Story ]- Read the official statement at ECB
- ECB keeps its refi rate unchanged at 1% (FXstreet.com)
- ECB keeps its Refi Rate unchanged at 1.0%; Euro testing 1.4750 (FXstreet.com)
- Forex: EUR/USD: Euro stalls below 1.4785 day high ahead of ECB (FXstreet.com)
Morning Report - The European Central Bank left its repo rate unchanged at 1.0% by Westpac Institutional Bank
Forex Market Video - ECB and BoE are Expected to Leave Rates Unchanged by ForexYard
ECB preview: The system is liquid enough by Danske Bank A/S
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% | 0.5% |
The Overnight Express: North American Edition - BOE Maintains the Status Quo by The Overnight Express
[ Full Story ]- Read the official statement at BoE
- Forex: GBP/JPY falls from intra−day high at 142.37 to 141.60 after BoE unchanged policy (FXstreet.com)
- BoE leaves Bank Rate unchanged at 0.5%; GBP edges down (FXstreet.com)
- BOE Leaves Bond Buying Program, Key Interest Rate Unchanged (Dow Jones)
Forex Market Video - ECB and BoE are Expected to Leave Rates Unchanged by ForexYard
Forex Trading Article - U.S. Jobless Claims Report Falls, Bank of England Stalls by Online Forex Trading
Top Fundamental Stories - BoE Leaves the Interest Rate Unchanged for the Seventh Month by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 8 | 23:50 | JP | Core Machinery Orders (MoM) (Aug) | 0.5% | -9.3% |
|
| Oct 9 | 06:00 | DE | Consumer Price Index (MoM) (Sep) | -0.4% | -0.4% | 0.2% |
| 06:00 | DE | Consumer Price Index (YoY) (Sep) | -0.3% | -0.3% | 0.0% | |
| 06:00 | DE | Trade Balance (Aug) | 10.6B | 12.4B | 12.5B |
|
| 08:30 | UK | Producer Price Index − Input (MoM) s.a (Sep) | -1.0% | 2.2% | ||
| 08:30 | UK | Producer Price Index − Input (YoY) n.s.a (Sep) | -7.0% | -7.5% | ||
| 08:30 | UK | Producer Price Index − Output (MoM) n.s.a (Sep) | 0.1% | 0.2% | ||
| 08:30 | UK | Producer Price Index − Output (YoY) n.s.a (Sep) | -0.2% | -0.4% | ||
| 08:30 | UK | Total Trade Balance (Aug) | -£2300.00 | -£2.45B | ||
| 09:30 | EMU | ECB Trichet's Speech | ||||
Educational Resources
I had a few vacation days in Spain with a group of friends. We had a great time and the company, weather and food couldn't have been better. It was pretty much the perfect weekend away, except for one thing – the exchange rate! As many of you would have noticed, my home currency, the Great British Pound, has been having a hard time over the last year. Read Sam Evans' article
From the Lessons From the Pros as well:
$8000 Tax Credit for the Purchase of Real Estate by Diana Hill