Thursday, Oct 15, 07:39 GMT
EUROPEAN Trading Newsletter
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ITC Barcelona 2009
The most amazing educational experience of the year!
Live Trading afternoon by FXstreet.com
Traders are in different groups led by one of the speakers, all together around a table, watching at the speaker's chart projected on a screen…
The staff, the speakers… Making friends by FXstreet.com
The really special thing of this conference is to meet the people that you have been contributing for years with. This year I am specially excited since I could finally meet some of our veteran collaborators.
To Get Started
- Do you know it all about FX? Test yourself! Learning Center Practice A is out!
- Use our brand new performance table! See ranges for main pairs in % or pips from 5 min to YTD. Go Now!
- WEBINAR VIDEOS: Looking at economic data by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Tech Trading: GBP/USD Strong resistance ahead by César B. Leiceaga
Trendline resistance has been broken and cable is now testing a strong resistance area comprehended between 1,6120 and 1,6200 handle. 1,6099 represents the 38,20 % Fib of the whole bear move from 1,6738 − 1,5704...
FxBootcamp: FOREX VIDEO - European Outlook October 15th 2009 by David R Pegler
The Disciplined Trader: USDIndex at potetial turning point by Pierre Charlebois
Sponsored by 
Live Sessions Schedule
London Session Scenarios on GBPUSD & GBPJPY − Free Access Day
Expert: Mihai Marinescu
Start: Thu, Oct 15, 08:30 GMT
Type of Session: Webinar
FX Instructor Live Trading Room − Free Access Day
Expert: Mark De La Paz
Start: Thu, Oct 15, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 15, 08:30 GMT | London Session Scenarios on GBPUSD & GBPJPY − Free Access Day | Mihai Marinescu | WBN |  |
| Thu, Oct 15, 11:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN | |
| Thu, Oct 15, 13:00 GMT | Pip Movement Ranges for Better Trade Management − Free Access Day | Raghee Horner | WBN | |
| Thu, Oct 15, 14:00 GMT | Back to Basics − Moving Averages − Free Access Day | Adam Rosen | WBN | |
Current Session: Europe
Yesterday's close above 1.4900 adds weight to long term rally
Mizuho Corporate Bank − Pushing relentlessly higher as the reluctant are dragged in kicking and screaming. It is of course just one of many currencies hitting a new high for the year against the US dollar. Yesterday's close above 1.4900 adds weight to our view that we have started the next leg of a long term rally; a weekly close above 1.4800 would confirm. Bullish momentum has increased a little again but the Euro is overbought. More of the same today.
USD/JPY
Short Term Analysis − USDJPY formed a short term cycle top at 90.45 by ForexCycle.com
USDJPY formed a short term cycle top at 90.45 level on 4−hour chart. Range trading between 88.83 and 90.45 is possible later today.
GBP/USD
The higher close of yesterday suggests potential prolonged GBP gains by InnerFX
The higher close of yesterday suggests potential prolonged GBP gains but as long as 1.6120 is intact, a fast direction switch may come out of nowhere
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 | |
| Oct 15 | 09:00 | Consumer Price Index − Core (YoY) | 1.2% | 1.3% |
| Oct 15 | 09:00 | Consumer Price Index (MoM) | 0.1% | 0.3% |
| Oct 15 | 09:00 | Consumer Price Index (YoY) | -0.3% | -0.3% |
US CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Oct 15 | 12:30 | Consumer Price Index (MoM) | 0.2% | 0.4% |
| Oct 15 | 12:30 | Consumer Price Index (YoY) | -1.4% | -1.5% |
US economic indicators - Import prices and CPI (Sep): annual rates still in negative territory by BHF−Bank
All in all, we predict that consumer prices will have risen modestly by 0.2% mom (–1.4% yoy). Given high unemployment and low capacity utilisation rates, core CPI could have again increased by a mere 0.1% mom, leaving the yearly rate at 1.4%.
[ Full Story ]Top Market Movers Review
US FOMC MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 14 | 18:00 | FOMC Minutes | - | - | - |
Forex: Dollar pulls back from year low after FOMC (FXstreet.com)
[ Full Story ]- Read the Minutes data at Federal Reserve
- Forex: Dollar plunges across the board after FOMC minutes (FXstreet.com)
Forex Market Video - FOMC Meeting Minutes to Move the Market by ForexYard
US RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 14 | 12:30 | Retail Sales (MoM) | -1.5% | -2.0% | 2.2% |
| Oct 14 | 12:30 | Retail Sales ex Autos (MoM) | 0.5% | 0.2% | -0.5% |
Top Fundamental Stories - Retail Sales Stronger than Expected but Remain Weak, While JPMorgan Reports Profits that Beat Market Estimates! by ecPulse.com
Retail sales dropped in September, as the effect from the government's "Cash for Clunkers" program faded; whereas the program was designed to help auto sales.
[ Full Story ]- Read the Retail Sales data at the Census Bureau
- CURRENCIES: Dollar Hits 14−month Low; Retail Sales Up (Dow Jones)
- CURRENCIES: Dollar Hits 14−month Low; Retail Sales Up (Dow Jones)
- CURRENCIES: Dollar Down As Retail Sales Beat Estimates (Dow Jones)
US: Preview of September retail sales by Easy Forex
US economic indicators - Retail sales (Sep): Dropping sharply after CARS ended by BHF−Bank
Friday Notes - Retail Sales: Payback time as cash for clunkers program ended by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 15 | 01:30 | AU | RBA Foreign Exchange Transaction (Sep) | 830M | 576M | |
| 04:30 | JP | Capacity Utilization (Aug) | 2.3 | 3.9 | ||
| 04:30 | JP | Industrial Production (YoY) (Aug) | -19.0% | 1.8% | -22.7% | |
| 05:00 | JP | Bank of Japan Monthly Economic Survey | ||||
| 08:00 | EMU | ECB Monthly Report (Oct) | ||||
| 09:00 | EMU | Consumer Price Index − Core (YoY) (Sep) | 1.2% | 1.3% | ||
| 09:00 | EMU | Consumer Price Index (MoM) (Sep) | 0.1% | 0.3% | ||
| 09:00 | EMU | Consumer Price Index (YoY) (Sep) | -0.3% | -0.3% | ||
| 09:00 | CH | ZEW Survey − Expectations (Oct) | 58 | |||
| 12:30 | US | Consumer Price Index Ex Food & Energy (YoY) (Sep) | 1.4% | 1.4% | ||
Educational Resources
The Latest Indicators are Out...
...So Where is the Residential Real Estate Market? This week we'll focus our attention on the following three indexes and indicators: The Case − Shiller Home Price Index, Pending U.S. Home Sales Index, and the Housing Starts and New Permits. Read Diana Hill's article
From the Lessons From the Pros as well:
Scrutinizing an Option Trade by Josip Causic
Discipline Transcends Trading by Gabe Velázquez