Tuesday, Oct 20, 07:31 GMT
EUROPEAN Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: Extreme levels for reverse by Dr. S. Sivaraman
EURO and GBP made nominal further rise from that of US session close to slide during japanese session close.They are expected to make quick gains during early European session and slide from mid European session till close of European session.subdued swings are expected to be seen during US session.
Chartology: Setting Up a Swing in front of the Aussie Monetary Policy Meeting Minutes… by Raghee Horner
The Disciplined Trader: View of USD Index on 1hr chart by Pierre Charlebois
FxBootcamp: FOREX VIDEO - New York Session Review - October 19, 2009 by Curt Wehrley
Sponsored by 
Live Sessions Schedule
London Session Scenarios on GBPUSD & GBPJPY
Expert: Mihai Marinescu
Start: Tue, Oct 20, 08:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Oct 20, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Oct 20, 08:00 GMT | London Session Scenarios on GBPUSD & GBPJPY | Mihai Marinescu | WBN |  |
| Tue, Oct 20, 12:30 GMT | Anticipating the 4th quarter  | Adam Rosen | WBN | |
| Tue, Oct 20, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Oct 20, 15:00 GMT | Economic and Technical View of the Currency Market − Live from Barcelona! | Rob Booker | WBN | |
Current Session: Europe
Rallying to a new high for this year at 1.4994 even sooner than we had hoped
Mizuho Corporate Bank − Rallying to a new high for this year at 1.4994 even sooner than we had hoped after closing at this year's high yesterday. The Euro is only slightly overbought and the 9−day moving average gave it another leg up yesterday. While most elements suggest a break above the psychological 1.5000 level is imminent, caution is warranted because yesterday's ‘hanging man' candle shows signs of instability at current levels. Note that consensus opinion at the beginning of this month was that the Euro would weaken against the US dollar.
GBP/USD
Buyers took the Pound to 1.6440 this morning by Charmer Charts.com
Cable saw weakness back to 1.6245 yesterday, but buyers were waiting and once more off they took it to 1.6440 this morning. Now if the market breaks above 1.6470 there is scope for further strength.
USD/CAD
Trading for the pair remained below 1.0300 by ecPulse.com
Trading for the pair remained below 1.0300 as the pair closed below it on the daily charts opening the way for further declines without the need for an upside correction.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com, Financial Trend Analysis, Mizuho
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Cons. | Previous | |
| Oct 21 | 08:30 | Bank of England Minutes | - | - |
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 23 | 08:00 | IFO − Business Climate | 92.1 | 91.3 |
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Oct 23 | 14:00 | Existing Home Sales (MoM) | 5.0% | -2.7% |
| Oct 23 | 14:00 | Existing Home Sales | 5.35M | 5.10M |
Friday Notes - Existing Home Sales: Rebound in home sales continues by UniCredit Group
Existing home sales have rebounded from the all−time low reached in January. Despite their 23⁄4% decline in August, they are still up an annualized 361⁄4% during the last six months.
[ Full Story ]Top Market Movers Review
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 19 | 17:00 | NAHB Housing Market Index | 18 | 20 | 19 |
NAHB: US Home Builders Lose Confidence In Oct (Dow Jones)
Confidence among U.S. home builders slipped this month, largely on the looming expiration of a big tax credit. The National Association of Home Builders' gauge of confidence in new−home sales fell for the first time in four months, slipping to 18 from 19 in September.
[ Full Story ]- Read the Housing data at NAHB
Morning Report - US NAHB housing activity index slips from 19 to 18 in Oct by Westpac Institutional Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 20 | 05:00 | JP | Coincident Index (Aug) | 91.2 | 91.4 |
|
| 05:00 | JP | Leading Economic Index (Aug) | 83.2 | 83.3 |
||
| 06:00 | DE | Producer Price Index (MoM) (Sep) | -0.5% | 0.0% | 0.5% | |
| 06:00 | DE | Producer Price Index (YoY) (Sep) | -7.6% | -7.1% | -6.9% | |
| 08:30 | UK | M4 Money Supply (MoM) (Sep) | 0.5% | 0.1% | ||
| 08:30 | UK | M4 Money Supply (YoY) (Sep) | 11.4% | 12.5% | ||
| 08:30 | UK | Public Sector Net Borrowing (Sep) | £15.2B | £16.1B | ||
| 09:00 | EMU | Construction Output s.a (MoM) (Aug) | -2% | |||
| 12:30 | US | Housing Starts (YoY) (Sep) | 0.62M | 0.60M | ||
| 12:30 | US | Producer Price Index (YoY) (Sep) | -4.2% | -4.3% | ||
Educational Resources
ITC 2009 comes to the end: 3 days of trading, learning and making friends
The city of Barcelona has been the scenario of the most educational event of the year for the last three days. FXstreet.com is proud to have hosted the ITC 2009 and to offer the atendees the opportunity to trade with the experts and put into practice all the theory acquired during the speeches as well as exchange opinions with other traders and with the experts themselves. This way, we have seen different systems and styles… and we are going to return home with a mix of everything, after picking around our favourite tips and strategies. Read our CEO's blog!
Related Resources
FXstreet.com International Traders Conference website