Thursday, Nov 19, 08:50 GMT
EUROPEAN Trading Newsletter
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To Get Started
- Learning Center. Chapter C02 - Understand Statistics has been released
- Real-Time Economic Calendar: New 2.0 Design with upgraded charts and sound notifications
- WEBINAR VIDEOS: Fundamental Analysis - Looking forward by Adam Rosen
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Forex Blogs
The Trader's Edge: More upward movement on the AUD/USD? by Ross Yamashita
Greetings. As mentioned in our previous post, here is our post on the AUD/USD. We've seen a strong uptrend and there is still potential room for more swing to the upside. Whether we may be in a potential Wave 2 or Wave 4 retracement, we know both waves have the 38.2% Fibonacci levels in common.
FX Market Readings: Drop and rise alternate by Dr. S. Sivaraman
FxBootcamp: FOREX VIDEO - European Outlook November 19th 2009 by David R Pegler
Sponsored by 
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Nov 19, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Thu, Nov 19, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Nov 19, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Nov 19, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Nov 19, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN |  |
| Fri, Nov 20, 12:30 GMT | MONTHLY WEBINAR − Part 1: How to manage risk using Price Behaviour analysis | Mike Baghdady | WBN | |
Current Session: Europe
The Pound slid from almost a 2 month high after MPC Meeting Minutes
UFX Bank − The Pound slid from almost a 2 month high against the Euro and declined versus the Dollar after MPC Meeting Minutes of this month's Bank of England meeting showed the vote to increase the bond−purchase program by 25 billion pounds ($42 billion) wasn't unanimous. Overall, GBP/USD traded with a low of 1.6714 and with a high of 1.6845.
EUR/USD
Euro and Pound weaken to session lows at European opening by FXstreet.com
EUR/USD decline from Wednesday's high at 1.4995 has extended to levels below 1.4900, with the pair hitting a fresh intra−day low right below 1.4880; 0.55% below its day opening price.
USD/JPY
Yen crosses are looking marginally more top−heavy by Mizuho Corporate Bank
Yesterday's tiny range may give some the impression that thin Christmas markets have arrived early. Do not be lulled into a false sense of security and we still favour a sharp drop and a serious downside test of key support at 87.00 (and then 85.00)
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 INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 19 | 13:30 | Continuing Jobless Claims | - | 5600K | 5631K |
| Nov 19 | 13:30 | Initial Jobless Claims | - | 503K | 502K |
US economic indicators - We expect initial jobless claims to have remained more or less unchanged by BHF−Bank
Initial jobless claims fell another 12k to 502k in the week ending 7 November – much lower than the yearly average so far of 590k. The 4−week moving average improved for the 10th consecutive week, falling to 519.8k. We expect initial jobless claims to have remained more or less unchanged in the week ending 14 November.
[ Full Story ]Event of the Week
US CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 18 | 13:30 | Consumer Price Index (MoM) | 0.3% | 0.2% | 0.2% |
| Nov 18 | 13:30 | Consumer Price Index (YoY) | -0.2% | -0.3% | -1.3% |
US: Consumer Prices Rose More Than Expected in October by Wells Fargo Investments, LLC
[ Full Story ]- Read the CPI data at Labor Department
- UPDATE: US Oct CPI, Housing Starts Point To Sluggish Economy (Dow Jones)
- DATA SNAP: US Consumer Prices Rise By 0.3% In October (Dow Jones)
- US CPI Ex Food & Energy up 0.2% MoM and 1.7% YoY in Oct (FXstreet.com)
Morning Report - NZD also formed a parabola between 0.7440 to 0.7500 by Westpac Institutional Bank
Currency Trading News - US Dollar Mixed on Signs of Deterioration in Housing, Dovish Comments from Fed's Bullard by DailyFX
Daily U.S. Forex Summary - The Japanese yen tested a key psychological level today holding just above 89.00 by Union Bank of California
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 19 | 04:30 | JP | All Industry Activity Index (MoM) (Sep) | -0.6% | -0.1% | 0.9% |
| 05:00 | JP | Coincident Index (Sep) | 92.7 | 92.5 |
||
| 05:00 | JP | Leading Economic Index (Sep) | 86.4 | 86.4 |
||
| 07:15 | CH | Trade Balance (Oct) | 2.46B | 2.15B | 1.91B |
|
| 09:30 | UK | M4 Money Supply (MoM) (Oct)  | 1.0% | 0.7% | ||
| 09:30 | UK | M4 Money Supply (YoY) (Oct) | 9.9% | 11.3% | ||
| 09:30 | UK | Mortgage Approvals (Oct) | 56K | |||
| 09:30 | UK | Public Sector Net Borrowing (Oct) | £6.8B | £14.8B | ||
| 09:30 | UK | Retail Sales (MoM) (Oct) | 0.6% | 0.0% | ||
| 09:30 | UK | Retail Sales (YoY) (Oct) | 2.9% | 2.4% | ||
Educational Resources
Conventional Technical Analysis Strategies, A Flawed School of Thought
Conventional technical analysis strategies have been around a long time. Some say this school of thought dates back more than one hundred years. While it is popular with traders and its rules and beliefs fill entire sections at all major book stores, this week Sam Seiden will argue that this school of thought really offers little to no edge in the world of market speculation when it comes to strategies. Read Sam Seiden's article.
Related Resources
Have We Seen the Bottom of the Commercial Real Estate Market? by Diana Hill
Vertical Spreads: Part V by Josip Causic