Friday, Oct 16, 08:01 GMT
EUROPEAN Trading Newsletter
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ITC Barcelona 2009
Our staff is twitting! Follow the last minute right from the ITC on FXstreet.com's twitter.
Valeria Bednarik and Rob Booker take the stand by FXstreet.com
On an afternoon of great lectures, Valeria Bednarik shared with us her knowledge about "Intraday Strategies", her tips about choosing technical indicators and avoiding noise in charts. She emphasized on the importance of backtesting our system and having confidence in it.
Kim Cramer Larsson's speech and lunch break by FXstreet.com
Kim Cramer Larsson, the CEO at Financial Trade Analysis, gave his speech "Tom DeMark studies and Exhaustion in the FX Markets"; introducing interesting new technics and trading patterns...
To Get Started
- Exclusive video Interview: The Euro reach the last year's highest level at 1.60? with Rob Booker
- 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
FX Market Readings: Week end −expected moves by Dr. S. Sivaraman
EURO and GBP made the higher level swings towards close of yesterday US session.Now for week end time gbp/USD has made a huge upward gap opening when EURO was holding − mainly to drop further EURO/GBP.
Tech Trading: GBP/USD Trend continuation? by César B. Leiceaga
Chartology: EUR/USD: Using Fibos as targets by Raghee Horner
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Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Mon, Oct 19, 05:00 GMT
Type of Session: Webinar
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Oct 19, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Oct 16, 09:00 GMT | Trading the Harmonic patterns  | Sunil Mangwani | WBN | |
| Fri, Oct 16, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Fri, Oct 16, 13:00 GMT | Live Trading Set Ups with Chart Patterns and Market Cycles | Raghee Horner | WBN | |
| Fri, Oct 16, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
Watch for a weekly close above 1.6575 to set off another round of short−covering
Mizuho Corporate Bank − Very good volume in the futures contract suggest Americans are buying sterling as it is the only currency they can cheaply diversify into. Allow for a little hesitation under today's Ichimoku ‘cloud' and watch for a weekly close above 1.6575 to set off another round of short−covering.
Strategy: Possibly attempt small longs at 1.6310; stop well below 1.6100. First target 1.6400.
EUR/USD
Trading range is formed between 1.4963 and 1.4917 by Investija.com
At the moment low trading range is formed between 1.4963 and 1.4917 price levels. A breakout can initiate stronger movements.
EUR/JPY
Move beyond 135.25 has seen this cross achieve 136.07 this morning by Charmer Charts.com
Euro/Yen broke sharply higher, and the move beyond 135.25 has seen this cross achieve 136.07 this morning.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com, Financial Trend Analysis, KBC, Mizuho
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU TRADE BALANCE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Oct 16 | 09:00 | Trade Balance s.a. | €7.9B | €6.8B |
| Oct 16 | 09:00 | Trade Balance n.s.a. | €2.5B | €12.6B |
US NET LONG−TERM TIC FLOWS
| Date (GMT) | Event | Cons. | Previous | |
| Oct 16 | 13:00 | Net Long−term TIC Flows | $10.9B | $15.3B |
| Oct 16 | 13:00 | Total Net TIC Flows | - | -$97.5B |
US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 16 | 13:15 | Industrial Production (MoM) | 0.1% | 0.8% |
| Oct 16 | 13:15 | Capacity Utilization | 69.7% | 69.6% |
US economic indicators - Industrial production (Sep): upward trend slowing markedly by BHF−Bank
Industrial production had increased by 0.8% mom in August due to car production and utility output in particular.
[ Full Story ]Friday Notes - Industrial Production & Capacity Utilization: Car−related boost is over by UniCredit Group
US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Oct 16 | 14:00 | Reuters/Michigan Consumer Sentiment Index | 73.6 | 73.5 |
Top Market Movers Review
US CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 15 | 12:30 | Consumer Price Index (MoM) | 0.2% | 0.1% | 0.4% |
| Oct 15 | 12:30 | Consumer Price Index (YoY) | -1.3% | -1.4% | -1.5% |
DATA SNAP:US Consumer Prices Ease In September (Dow Jones)
[ Full Story ]- Read the CPI data at Labor Department
- US CPI Ex Food & Energy up 0.2% MoM and 1.5% YoY in Sep (FXstreet.com)
- US CPI rises 0.2% MoM in Sep, −1.3% YoY (FXstreet.com)
- Table of Data On US Real Earnings From Labor Dept. (Dow Jones)
US: Preview of September CPI by Easy Forex
US economic indicators - Import prices and CPI (Sep): annual rates still in negative territory by BHF−Bank
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)
KBC News Picks - US: Core retail sales up for the second straight month by KBC Bank
Flash Comment - US: Setback in retail sales masks positive details by Danske Bank A/S
U.S:Retail Sales Slackened, but Core Spending Still Positive by Wells Fargo Investments, LLC
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 16 | 07:15 | CH | Adjusted Real Retail Sales (YoY) (Aug) | -1.0% | 0.8% | 1.0% |
| 09:00 | EMU | Trade Balance n.s.a. (Aug) | €2.5B | €12.6B | ||
| 09:00 | EMU | Trade Balance s.a. (Aug) | €7.9B | €6.8B | ||
| 11:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Sep) | 0.2% | 0.1% | ||
| 11:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Sep) | 1.4% | 1.6% | ||
| 11:00 | CA | Consumer Price Index (MoM) (Sep) | 0.1% | 0.3% | ||
| 11:00 | CA | Consumer Price Index (YoY) (Sep) | -0.8% | -0.8% | ||
| 13:00 | US | Net Long−term TIC Flows (Aug) | $10.9B | $15.3B | ||
| 13:00 | US | Total Net TIC Flows (Aug) | -$97.5B | |||
| 13:15 | US | Capacity Utilization (Sep) | 69.7% | 69.6% | ||
Educational Resources
Anna Coulling on hedging your spot FX bets. Trading currency seems to be the hot topic at the moment, and has been for some time. No wonder really, with the promise of quick profits and the lure of easy money. It sounds so simple, and in minutes you can be trading away, losing your money faster than you can say ‘margin'.Read Anna Coulling's article
Other articles from YourTradingEdge
Unlocking Volume Analysis by Todd Krueger
The Death of the Buy−and−Hold Investor by Kel Butcher