Wednesday, Oct 21, 07:40 GMT
EUROPEAN Trading Newsletter
Follow us on Twitter • Subscribe to our RSS feeds • Visit our Facebook page
To Get Started
- Video Interview with Ashraf Laidi: Levels for the EUR/USD and GBP crosses for 4Q/2009
- 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: Pip Movement Ranges for Better Trade Management by Raghee Horner
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Chartology: USD/JPY 240 minute swing trade by Raghee Horner
The 240 minute USD/JPY has been trending higher but the uptrend cycle is weakening as the Dow closed down 50 points. Wedges are trending patterns Since the uptrend is not strong, playing the pullback to the uptrend line support would trigger a low risk swing buy since validity extends down to just below the 90.00 major psychological level.
FxBootcamp: FOREX VIDEO - European Outlook October 21st 2009 by David R Pegler
The Disciplined Trader: I’m not quite satisfied a long term top is in place on the EUR/USD by Pierre Charlebois
FX Path: EUR/USD - New 14-Month High Within Strong Uptrend by James Chen
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Oct 21, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Oct 21, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 21, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Oct 21, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Oct 21, 11:00 GMT | Trading the Harmonic patterns  | Sunil Mangwani | WBN |  |
| Wed, Oct 21, 15:00 GMT | An introduction to Price Behaviour: Part 3 | Mike Baghdady | WBN |  |
Current Session: Europe
Euro failed to make a break above key psychological level of 1.5000
Charmer Charts.com − Eur/Usd made new highs yesterday, but failed to make a break above key psychological level of 1.5000. This has eased back from these highs to 1.4880 but if this support can hold there is scope for the market to trade higher for 1.4990/1.5007 this morning.
GBP/USD
Hourly Trend is Sideways while 16480 holds by Precise Trader
Hourly Trend is Sideways while 16480 holds and Daily Trend is Sideways Up while 15910 holds, so expect the price to be Choppy and Upside may be limited.
USD/CAD
Dollar versus Loonie pair surged yesterday by ecPulse.com
The Dollar versus Loonie pair surged yesterday, after the interest rate decision to support the bullish technical pattern, which took the pair near the key resistance at 1.0565.
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
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 08:30 | Bank of England Minutes | - | - | - |
UK CBI INDUSTRIAL TRENDS SURVEY − ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 10:00 | CBI Industrial Trends Survey − Orders (MoM) | - | -45 | -48 |
US FED'S BEIGE BOOK
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 18:00 | Fed's Beige Book | - | - | - |
Friday Notes - Beige Book to confirm stabilization of economy by UniCredit Group
The Beige Book summarizes comments received from businesses and other contacts in the twelve Fed districts. The previous report stated, "economic activity continued to stabilize," while the outlook "remained cautiously positive."
[ Full Story ]Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 08:00 | IFO − Business Climate | - | 92.1 | 91.3 |
US EXISTING HOME SALES
| Date (GMT) | Event | Actual | 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
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 20 | 13:00 | BoC Interest Rate Decision | 0.25% | 0.25% | 0.25% |
BOC Keeps Rate At 0.25%,On Hold To 2Q 2010,Warns Of Strong C$ (Dow Jones)
[ Full Story ]- Read the official statement at BoC
- Canada Afternoon: C$ Plummets On Dovish BOC Rate Statement (Dow Jones)
- UPDATE: BOC Keeps Rate At 0.25%,On Hold To 2Q 2010,Warns Of Strong C$ (Dow Jones)
- Forex: USD/CAD: Dollar soars to 1.0400 area after BoC rate statement (FXstreet.com)
Top Fundamental Stories - BOC Leaves Rates Unchanged and Signals Recovery is Undergoing by ecPulse.com
The Currency Futures Report - Will Canada Raise Rates? by Alaron
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 21 | 00:00 | AU | Westpac Leading Index (MoM) (Aug) | 1.1% | 1.1% |
|
| 00:30 | AU | New Motor Vehicle Sales (MoM) (Sep) | 2.9% | 0.1% |
||
| 00:30 | AU | New Motor Vehicle Sales (YoY) (Sep) | -2.0% | -6.2% | ||
| 02:00 | NZ | Credit Card Spending (Sep) | -2.3% | 0.1% |
||
| 08:30 | UK | Bank of England Minutes | ||||
| 10:00 | UK | CBI Industrial Trends Survey − Orders (MoM) | -45 | -48 | ||
| 11:00 | US | MBA Mortgage Applications (Oct 16) | -1.8% | |||
| 14:30 | US | EIA Crude Oil Stocks change | 0.9M | 0.4M | ||
| 18:00 | US | Fed's Beige Book | ||||
| 23:50 | JP | Merchandise Trade Balance Total (Sep) | ¥625.3B | ¥185.7B | ||
Educational Resources
Like Minds, Individual Approach
We all teach, we all trade and indeed, we all understand the key disciplines required to be consistent in the market; yet we are still different people and have individual ideas and approaches. This is important to understand. Read Sam Evans' article !
From the Last Lessons From the Pros:
A Smart Trading Group, Getting Smarter by Sam Seiden
Forex Fundamentals & News: The Good, The Bad and The Ugly by Sam Evans
The Latest Indicators are Out; So Where is the Residential Real Estate Market? by Diana Hill