Thursday, Nov 05, 08:37 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Chartology: Dissecting the range within the USD/JPY congestion by Raghee Horner
The dollar−yen is bouncing around within a wide range as the Continuation Ascending Triangle has not yet reached the "narrows" of the pattern. The range has three major psychological levels within it. The 92.00, 91.00, and the 90.00.
FX Bootcamp.com: EUR/USD: Conduct a top down analysis of this pair by David R Pegler
The Disciplined Trader: USD gains reversed… Will this challenge old highs and lows? by Pierre Charlebois
FX Path: Gold − Hitting New Highs by James Chen
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Live Sessions Schedule
Back To Basics With Supply and Demand
Expert: Sam Seiden
Start: Thu, Nov 5, 11:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Nov 5, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Nov 5, 11:00 GMT | Back To Basics With Supply and Demand | Sam Seiden | WBN |  |
| Thu, Nov 5, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Nov 5, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Thu, Nov 5, 14:00 GMT | Pip Movement Ranges for Better Trade Management | Raghee Horner | WBN | |
Current Session: Europe
Further buying over the coming days could drive the Euro to 1.50
InnerFX −Key resistance into the 1.4850 area has been challenged on yesterday and earlier today and upside is slightly favored, further buying of EUR against the buck being possible within the coming days, anticipating a return into the 1.50 region.
GBP/USD
Cable is still trapped below important resistance around 1.6665 by Mizuho Corporate Bank
Cable is still trapped below important resistance around 1.6665 and further cautious downside probes cannot be ruled out. Nevertheless we continue to favour the building of a new interim low this month where short term watch support around 1.6200
JPY CROSSES
Yen crosses were all aggressively sold by FOREX.com
GBP/JPY leading the way with a 145 pip drop to 149.00 lows. EUR/JPY plunged 125 pips from 135.15 to 133.90, and NZD/JPY and AUD/JPY skid 115 and 100 pips respectively. USD/JPY cruised lower from 90.85 to 90.35 over the course of the session.
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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 5 | 12:45 | ECB Interest Rate Decision | - | 1% | 1% |
BOE and ECB: Preview of Thursday's meetings by Easy Forex
The European Central Bank (ECB) will also hold policy meeting on Thursday November 5th. No policy change is expected.
[ Full Story ]Euro Thoughts - No major surprises are expected on the November ECB meeting by UniCredit Group
Top Fundamental Stories - Analysts expect the rate to remain unchanged by ecPulse.com
Sunrise Market Commentary - No change in interest rates is expected by KBC Bank
Event of the Week
US NONFARM PAYROLLS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 6 | 13:30 | Nonfarm Payrolls | - | -175K | -263K |
US nfp job losses likely moderated in October by Easy Forex
Stability in recent US jobless claims data, a sharp rise in Q3 GDP, improvement in the employment index of the October manufacturing ISM and a continued decline in the ADP unemployment index points to a slowdown in nfp job losses during October.
[ Full Story ]US economic indicators - We forecast that non−farm payrolls will have declined at a somewhat slower pace of –220k in October by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 4 | 23:50 | JP | BoJ Monetary Policy Meeting | |||
| Nov 5 | 00:30 | AU | Trade Balance (Sep) | -1849M | -1651M |
|
| 08:15 | CH | Consumer Price Index (MoM) (Oct) | 0.6% | 0.0% | ||
| 08:15 | CH | Consumer Price Index (YoY) (Oct) | -0.8% | -0.9% | ||
| 08:55 | AU | RBA's Governor Glenn Stevens Speech | ||||
| 09:30 | UK | Industrial Production (MoM) (Sep) | -2.5% | |||
| 09:30 | UK | Industrial Production (YoY) (Sep) | -11.2% | |||
| 09:30 | UK | Manufacturing Production (MoM) (Sep) | -1.9% | |||
| 09:30 | UK | Manufacturing Production (YoY) (Sep) | -11.3% | |||
| 10:00 | EMU | Retail Sales (MoM) (Sep) | -0.2% | |||
Educational Resources
A Little Something to Take the Emotion Out
Without the right set of rules and more importantly the right attitude, attaining a successful trading career can and will be an uphill struggle from the very start. This week we will look at how each and every new trader needs to understand that the thorn in the side of many a failed speculator lies in the emotional game. Read Sam Evans' article !
Related Resources
Emotion Management System - Report by Dima Chernovolov
Trading and Emotions - Report by Tomas Cedavicius
Mastering Emotions In Trading - Q&A Session Transcript by Jay Lakhani