Thursday, Oct 29, 08:36 GMT
EUROPEAN Trading Newsletter
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- Learn forex trading and put in practice your skills with the Learning Center. Practice B is now available!
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Forex Blogs
Chartology: Getting comfortable with CRAZY by Raghee Horner
I'm not an active GBP/JPY trader mainly because it's, well, you know, CRAZY! But I've been getting to know this pair and studies like the PowerStats have helped.
FX Market Readings: Either way stop hunt moves for a day by Dr. S. Sivaraman
Tech Trading: EUR/JPY At 38,20 Fib level by César B. Leiceaga
Francesc's Weblog: Learning Center: Practice Unit A and B Now Available by Francesc Riverola
Sponsored by 
Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Thu, Oct 29, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Forex Basics Series: Chapter 6 − Technical figures part II
Expert: Valeria Bednarik
Start: Thu, Oct 29, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 29, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Thu, Oct 29, 13:00 GMT | Pip Movement Ranges for Better Trade Management  | Raghee Horner | WBN |  |
| Thu, Oct 29, 14:00 GMT | Forex Basics Series: Chapter 6 − Technical figures part II | Valeria Bednarik | WBN | |
| Thu, Oct 29, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe
Giving up 61% of the most recent gains
Mizuho Corporate Bank − The Euro remains within its ‘channel', moving averages and the Ichimoku ‘cloud' suggesting a long Euro position. The Euro is almost oversold and momentum is nil. Very good volume in the futures market suggests those recently arrived at the party are bailing out of overly−aggressive positions. Allow for several weeks' worth of correction and consolidation below 1.5064, this year's high.
JPY CROSSES
USD/JPY hit a weekly low of 90.25 after poor US data by FOREX.com
USD/JPY hit a weekly low of 90.25 after poor US data again helped dampen enthusiasm over a quick global recovery. GBP/JPY collapsed from 148.90 to just under 147.70.
EUR/GBP
Eur/Stg has a little double base at 8953 by Charmer Charts.com
Eur/Stg has a little double base at 8953, however there is no other indication as yet that the market is turning, especially as it is holding below the longer term 61.8 Fib level.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com , Deltastock , Financial Trend Analysis , KBC , Mizuho
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Event of the Day
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 29 | 12:30 | Gross Domestic Purchases Price Index | - | 1.2% | -1.4% |
| Oct 29 | 12:30 | Gross Domestic Product Annualized | - | 3.1% | -0.7% |
US: Big gain advance Q3 GDP expected by Easy Forex
US advance Q3 GDP will be released on Thursday October 29th. Q3 GDP is expected to rise by 3.2% compared to −0.7% last quarter.
[ Full Story ]GDP Observatory - US: Recovery will take hold in 3Q09 by BBVA Bancomer
Friday Notes - A strong third quarter by UniCredit Group
Event of the Week
US DURABLE GOODS ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 28 | 12:30 | Durable Goods Orders ex Transportation | 0.9% | 0.7% | -0.3% |
| Oct 28 | 12:30 | Durable Goods Orders | 1.0% | 1.5% | -2.6% |
US: Durable Goods Bounced Back in September by Wells Fargo Investments, LLC
Orders for durable goods at U.S. manufacturers regained some lost ground after last month's drop. Ex−transportation, orders were better than expected—business spending is showing signs of recovery.
[ Full Story ]- Read the Durable Goods Orders data at the Census Bureau
- DATA SNAP: Durable Goods Orders Up Below Expectations (Dow Jones)
- U.S. Durable Goods Orders increase less than expected; Dollar, steady (FXstreet.com)
- US Sep Durable Goods Orders increase 1% (FXstreet.com)
Top Fundamental Stories - Durable Goods Orders Rise in the United States, as the Recovery Continues by ecPulse.com
US economic indicators - Durable goods orders (Sep): rising slightly after August plunge by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 28 | 23:50 | JP | Corporate Service Price (YoY) (Sep) | -3.2% | -3.3% | -3.5% |
| 23:50 | JP | Industrial Production (MoM) (Sep)  | 1.4% | 1.1% | 1.6% |
|
| 23:50 | JP | Industrial Production (YoY) (Sep) | -18.9% | -19.3% | -19.0% | |
| Oct 29 | 00:00 | AU | HIA New Home Sales (MoM) | -4.5% | 11.4% | |
| 08:55 | DE | Unemployment Change (Oct) | 16K | -12K | ||
| 08:55 | DE | Unemployment Rate s.a. (Oct) | 8.3% | 8.0% | ||
| 09:30 | UK | M4 Money Supply (YoY) (Sep) | 11.3% | |||
| 09:30 | UK | Net Lending to Individuals (Sep) | £0.7B | £0.7B | ||
| 10:00 | EMU | Consumer Confidence (Oct) | -17 | -19 | ||
| 10:00 | EMU | Industrial Confidence (Oct) | -22 | -24 | ||
Educational Resources
Market Traps, Novice Traders Beware
This week we will look at two of Sam Seiden's favorite market opportunities − the Bull Trap and Bear Trap. It is important that you understand how to properly think this setup. Read Sam Seiden's article !
From Lessons from the Pros as well:
Start as You Mean to Go On by Sam Evans
Vertical Spreads: Part II by Josip Causic