Friday, Jul 25, 10:56 GMT
U.S. Trading Newsletter
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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
- Control your emotions: Market Psychology
- Live Charts Window: 100 charts in real time
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Forex Blogs
Market Psychology posts
The Disciplined Trader: Money: What is your relationship with it? by Pierre Charlebois
- Daily Radio Show − What the Fed?! And Pierre Charlebois by Rob Booker
FX Path: Paralysis by Analysis by James Chen
The Trader's Edge: The Basics by Ross Yamashita
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Jul 28, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jul 28, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 25, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Fri, Jul 25, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Jul 25, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
| Mon, Jul 28, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
Current Session: Europe − U.S.
EUR/USD
Forex Economic Analysis − Forex Technical Analysis on Majors by www.deltastock.com
EUR/USD is in an uptrend from recent bottom at 1.5301, that was the final of the prolonged consolidation since 1.5909 (17 March 2008). Technical indicators are slowly rising and trading is situated above the 50− and 200−Day SMA, currently projected at 1.5609 and 1.5095.
As expected the pair founded support at 1.5627 and reversed, climbing back again above 1.5712. We think, that yesterday's bottom was a final of the slide from 1.5946 and currently a corrective phase is underway, targeting 1.5798. Intraday allow dips to 1.5654 before next leg upwards to 1.5798
- GBP/USD Thursday Evening (NY) Video Update by James Chen, Chief Technical Analyst, at FX Solutions
- 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:
Forex Technical Report − USDCHF Retracing to 1.03 by ForexHound.com
Daily FX Report − The USD steadied against the JPY this morning by Varengold Wertpapierhandelsbank AG
Daily Forex News − Forex − Dollar was under pressure after disappointing housing sector news by ACM − Advanced Currency Markets
Banks' Analysis
Technical analysis: EuroDollar Futures − Eurodollar Future – Dec 2008 by Mizuho Corporate Bank
Currency Performance Report
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
FX Analysts' Blogs
EURO and GBP rised as expected − time to take positions.. by Dr. S. Sivaraman, of i−knowindices.com
Majors at a Glance
- EUR/USD
- Moves up above first resistant level 1.5716
07/25/2008 10:32 GMT - GBP/USD
- Trades around opening price level 1.9865 , below pivot level 1.9892
07/25/2008 10:32 GMT - USD/CHF
- Moves down below second support level 1.0323
07/25/2008 10:32 GMT - USD/JPY
- Moves down below second support level 106.72
07/25/2008 10:32 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 DURABLE GOODS ORDERS
| Date (GMT) | Event | Cons. | Previous | |
| Jul 25 | 12:30 | Durable Goods Orders | -0.3% | 0.0% |
| Jul 25 | 12:30 | Durable Goods Orders ex Transportation | -0.2% | -0.9% |
US economic indicators - Durable goods orders: soft in June, transportation orders slowed by BHF−Bank
We expect durable goods orders broadly flat in June. The new orders component of the ISM survey stood at 49.7 in June, indicating a slight contraction. However, output data shows that the production of equipment and durable goods overall rose in June. Indications for the transportation component are somewhat indecisive: According to corporate data, aircraft orders fell. Domestic vehicle sales and auto sales have been soft in June, but car production rebounded quite strongly. On balance, we judge the risk for durable goods orders ex transportation to be slightly on the downside.
[ Full Story ]Forex Analysis on Majors - Looking for Durable Goods Orders by Forex Ltd
Top Market Movers Review
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 25 | 08:30 | Gross Domestic Product (YoY) | 1.6% | 1.6% | 2.3% |
| Jul 25 | 08:30 | Gross Domestic Product (QoQ) | 0.2% | 0.2% | 0.3% |
UK Q2 GDP up quarterly 0.2 percent, lowest since Q1 2005; last lower in Q2 2001 (Thomson Financial News)
The British economy grew at its slowest rate in over three years during the second quarter of the year as housing construction came to a near standstill, official figures showed today.
[ Full Story ]- UK economy rose by 0.2% in Q2 2008 at National Statistics
- UK Q2 GDP up quarterly 0.2 percent, lowest since Q1 2005 UPDATE (Thomson Financial News)
- UK GDP growth slows down in the second quarter (FXstreet.com)
- United Kingdom Preliminary Gross Domestic Product, 0.2% up in the 2Q; 1.6% up year on year (FXstreet.com)
Friday Notes - We expect Q2 GDP to have grown 0.3% q−o−q by HVB Group
EMU M3
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 25 | 08:00 | M3 (YoY) | 9.5% | - | 10.0% |
Euro Zone M3 grows below expectations in June (FXstreet.com)
The annual rate on M3 growth has declined in the Euro Area in June to 9.5% from revised 1.0% growth in May, while the three month average growth, eased to 9.9% in the April – June period, from 10.1% from march to may, according to figures published by the European Central Bank.
[ Full Story ]- Monetary developments in the euro area at ECB
- UPDATE: Euro−Zone Jun M3 +9.5% On Year Vs +10% In May (Dow Jones)
- Euro zone June M3 up 9.5 pct yr−o−yr versus 10.5 percent in May UPDATE (Thomson Financial News)
- Euro zone June M3 up 9.5 pct yr−o−yr versus 10.5 percent in May (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 25 | 06:00 | DE | Import Price Index (MoM) | 1.5% | 2.4% | |
| 06:00 | DE | Import Price Index (YoY) | 8.9% | 7.9% | ||
| 08:00 | EMU | M3 (YoY) (Jun) | 9.5% | 10.0% |
||
| 08:30 | UK | Gross Domestic Product (QoQ) (2Q)  | 0.2% | 0.2% | 0.3% | |
| 08:30 | UK | Gross Domestic Product (YoY) (2Q) | 1.6% | 1.6% | 2.3% | |
| 08:30 | UK | Index of Services (May) | 0.4% | 0.4% | 0.3% | |
| 12:30 | US | Durable Goods Orders (Jun) | -0.3% | 0.0% | ||
| 12:30 | US | Durable Goods Orders ex Transportation (Jun) | -0.2% | -0.9% | ||
| 14:00 | US | New Home Sales (Jun) | 503K | 512K | ||
| 14:00 | US | New Home Sales (MoM) (Jun) | -1.8% | -2.5% | ||