Thursday, Jul 24, 11:29 GMT
U.S. Trading Newsletter
Featured
Featured Forex DVDs
FXstreet.com DVD Series − Support and Resistance Trading by Rob Booker and Dave Murphy
In this 2−DVD set, Rob Booker and Dave Murphy guide you through the powerful and easy−to−use trading techniques that have made their FXstreet.com blog one of the most popular forex blogs on the web. Step−by−step, you will learn to set up trades on any currency pair, on any time frame chart. All the trading setups that you will learn come with examples, and full descriptions of why the setups work.
To Get Started
- FXstreet.com International Traders Conference: Early Bird Discount extended until July 31st! Register before it's too late.
- Webinar Videos: Trading the Summer Months by Adam Rosen
- Analyst Comments: The best opinions from the pros selected by our editors
- Streaming Forex Charts: 22 currency pairs and 21 technical indicators, FREE! by Netdania/FXCM
- Forex Basics: Trading reports for beginners
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Forex Blogs
Support and resistance posts
FX Path: Support and Resistance − Which Method is Best? by James Chen
The Advisor Weblog: How to determinate supports and resistances by Valeria Bednarik
Postcards from the Right Edge: Complete Guide to Support and Resistance Trading by Rob Booker
Live Sessions Schedule
Tracking the forex market together / Part II
Expert: Dr.S.Sivaraman
Start: Thu, Jul 24, 14:00 GMT
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Jul 24, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 24, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Thu, Jul 24, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Thu, Jul 24, 14:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Thu, Jul 24, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
Current Session: Europe − U.S.
USD/JPY
Forex Analysis on Majors − US dollar continues to recover with majors by Forex Ltd
The assumed test of the key supports for realization of the pre−planned buyers' positions has not been confirmed, but further rate rise with the signs of overbought factor of pair was a ground to close earlier opened long−term positions. At present taking into account the relative rise of sells activity also keeping earlier chosen planning priorities, we assume a possibility of pair return to supports 107,50/60 where it is recommended to evaluate the activity development according to the charts of shorter time interval.
- Forex Set ups 24 July '08 by Phil Newton, Developer of Trading Strategies at TradingStrategies.info
- Support and Resistance Trading DVD by Rob Booker. Discover his powerful trading strategies and techniques!
- Using fibonacci retracements to identify support and resistance by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Currency Technical Report − Currency Technical Report by FXGreece
Forex Economic Analysis − Forex Technical Analysis on Majors by www.deltastock.com
Forex Technical Report − Bullish GBPJPY by ForexHound.com
Weekly Outlook
Weekly Forex Focus by Trading Central
Currency Performance Report
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
FX Analysts' Blogs
Majors levels by Valeria Bednarik, Analyst at MolFX − Management
Majors at a Glance
- EUR/USD
- Trades around opening price level 1.5695 , below pivot level 1.5721
07/24/2008 10:43 GMT - GBP/USD
- Moves down below pivot level 1.9974
07/24/2008 10:43 GMT - USD/CHF
- Trades around opening price level 1.0376 , above pivot level 1.0354
07/24/2008 10:43 GMT - USD/JPY
- Trades above pivot level 107.67
07/24/2008 10:43 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jul 24 | 14:00 | Existing Home Sales | 4.94M | 4.99M |
| Jul 24 | 14:00 | Existing Home Sales (MoM) | -1% | 2% |
US economic indicators - We expect existing home sales slightly higher at about 5.0m by BHF−Bank
Pending home sales rose 7.1% mom in April, only to fall back by 4.7% in May. Against this background, existing home sales recovered to 4.99m in May. However, as pending sales lead existing sales by 1 to 2 months, the April spike is likely to appear in the June sales numbers as well. So we expect existing home sales slightly higher at about 5.0m. In contrast, new home sales probably continued their downward trend.
[ Full Story ]Top Market Movers Review
UK RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 08:30 | Retail Sales (YoY) | 2.2% | 4.4% | 8.1% |
| Jul 24 | 08:30 | Retail Sales (MoM) | -3.9% | -2.6% | 3.5% |
DATA SNAP: UK Retail Sales Post Record Monthly Fall In June (Dow Jones)
U.K. retail sales posted their sharpest drop for 22 years in June, reversing May's sharp gain and lending weight to the view that consumption is weakening, data from the Office for National Statistics showed Thursday.
[ Full Story ]- Retail sales June 2008 at National Statistics
- UK June retail sales down monthly 3.9 pct, biggest recorded fall UPDATE (Thomson Financial News)
- 2nd UPDATE: UK Retail Sales Post Record Drop In June (Dow Jones)
- UPDATE: UK Retail Sales Post Record Monthly Decline In June (Dow Jones)
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 08:00 | IFO − Business Climate | 97.5 | 100.2 | 101.3 |
| Jul 24 | 08:00 | IFO − Expectations | 90.0 | 93.2 | 94.7 |
UPDATE − German Ifo business climate deteriorates further in July (FXstreet.com)
German Ifo business climate index has deteriorated further in July, as firms show increasing disappointment about their current situation while their outlook for the next six months is turning more and more negative, according to the latest survey by the Ifo institute of economic studies.
[ Full Story ]- Ifo Institute Homepage
- German Ifo July business climate index falls to 97.5, misses consensus UPDATE (Thomson Financial News)
- German Ifo July business climate index falls to 97.5, misses consensus (Thomson Financial News)
- German Ifo business climate deteriorates further in July (FXstreet.com)
EMU economic indicators - German ifo business climate (July): down by BHF−Bank
EMU CURRENT ACCOUNT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 08:00 | Current Account n.s.a | -21.4B | - | -7.4B |
| Jul 24 | 08:00 | Current Account s.a | -7.3B | - | 1.5B |
Euro zone May current account deficit 7.3 bln euros UPDATE (Thomson Financial News)
The euro zone current account was 7.3 billion euros in deficit in May in seasonally adjusted terms, the European Central Bank said. This compares with a revised April surplus of 1.5 billion euros.
[ Full Story ]- EU27 current account deficit 26.5 bn euro at Eurostat
- UPDATE: Euro−Zone May Current Account Swings Into Deficit (Dow Jones)
- Euro zone May current account deficit 7.3 bln euros vs surplus 1.5 bln in April (Thomson Financial News)
- DATA SNAP: Euro−Zone Current Account Swings Into Deficit (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 24 | 08:00 | EMU | Current Account n.s.a (May) | -21.4B | -7.4B |
|
| 08:00 | EMU | Current Account s.a (May) | -7.3B | 1.5B |
||
| 08:00 | DE | IFO − Business Climate (Jul) | 97.5 | 100.2 | 101.3 | |
| 08:00 | EMU | Purchasing Manager Index Services (Jul)  | 48.3 | 48.8 | 49.1 | |
| 08:30 | UK | Retail Sales (MoM) (Jun) | -3.9% | -2.6% | 3.5% | |
| 08:30 | UK | Retail Sales (YoY) (Jun) | 2.2% | 4.4% | 8.1% | |
| 12:30 | US | Continuing Jobless Claims (Jul 12) | 3.2K | 3122.0K | ||
| 12:30 | US | Initial Jobless Claims (Jul 19) | 380K | 366K | ||
| 14:00 | US | Existing Home Sales (Jun) | 4.94M | 4.99M | ||
| 14:00 | US | Existing Home Sales (MoM) (Jun) | -1% | 2% | ||