Friday, Sep 12, 11:02 GMT
U.S. Trading Newsletter
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International Traders Conference 2008 − October 29−31
Don't miss the FX event of the year
This year's topics are Trading Psychology, Emerging Markets Currencies, Hidden Divergence, Risk Management, Range Trading, Support and Resistance, Break Out Trading Strategies and Sentiment Indicators.
And there will be 3 LIVE TRADING sessions coached by our guest speakers!
Book now your seat for the ITC 2008 and Enjoy our LAST CALL OFFER: 550 €
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
US Dollar and other market moves
The Trader's Edge: What's next for the Euro? by Ross Yamashita
If you remember, we said the EUR/USD was heading down to 1.1000. We've had a good move down thus far and now we're in a bit of a retracement. The longer term trend is still down. I drew in a trend line and did some Fibonacci analysis and found a potential turning point at 1.4220.
1st on Forex: September 11th − US Dollar Stands Strong by Jerry Furst
FX market Readings: Expected moves during week end by Dr. S. Sivaraman
Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Sep 12, 15:00 GMT
Type of Session: Webinar
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Sep 15, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Sep 12, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Fri, Sep 12, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Sep 12, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
| Fri, Sep 12, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily Trading Forecast − In Correction Mode by Swiss e Trade AG
The now 5−week rally of the U.S. dollar has finally entered a much−needed downward correction or at least the beginning of a broader sideways move. Early European trading hours showed evidence of that, in quite broad bid volatility for the euro and the British pound.
A remarkable U−turn brought the pair into higher grounds this European morning, currently trying to break the 1.4100 handle on the upside and with evidence of running into heavy resistance between 1.4100 and 1.4150. We expect this range to be the upside limit for today, leaving room for a downside move to support at 1.4000.
- Harmonics on Gold by Sunil Mangwani, CEO at FibForex123.
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Daily Analysis − The Yen Declines as stocks gain and the carry trade increases by Finotec Group Inc.
Daily FX Report − Fed's Engineering by Varengold Wertpapierhandelsbank AG
Currency Technical Report − Currency Technical Report by FXGreece
Banks' Analysis
Technical analysis: EuroDollar Futures − Eurodollar Future – Dec 2008 by Mizuho Corporate Bank
Forex Analysts' Blog
What's next for the Euro? by Ross Yamashita,of Pro Pipper Trading
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Forex Signals
Spot Forex Trades − EURUSD New Signal a la weekend mode! by ForexSurvivor
Majors at a Glance
- EUR/USD
- Trades above second resistant level 1.4078
09/12/2008 10:02 GMT - GBP/USD
- Trades above second resistant level 1.7682
09/12/2008 10:02 GMT - USD/CHF
- Trades below pivot level 1.1377
09/12/2008 10:05 GMT - USD/JPY
- Trades above opening price level 107.17 , above pivot level 107.02
09/12/2008 10:05 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, GFT (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 REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Sep 12 | 14:00 | Reuters/Michigan Consumer Sentiment Index | 63.9 | 63.0 |
US economic indicators - We forecast that consumer sentiment will rise to 64.5 in September by BHF−Bank
The University of Michigan's preliminary September consumer sentiment could be buoyed again by the ongoing decline in gasoline prices. The upward revision of the final August sentiment from 61.7 to 63.0 also indicates a further improvement, and the current ABC consumer comfort poll rose from –50 to –47. We forecast that consumer sentiment will rise to 64.5 in September. This is still a very low level, and thus, as the graph indicates, retail sales are likely to remain weak in the months ahead.
[ Full Story ]Top Market Movers Review
EMU INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 12 | 09:00 | Industrial Production s.a. (MoM) | -0.3% | -0.2% | -0.2% |
| Sep 12 | 09:00 | Industrial Production w.d.a. (YoY) | -1.7% | -0.4% | -0.8% |
DATA SNAP: Euro−Zone July Indus Output −0.3% MM; −1.7% On Yr (Dow Jones)
Industrial output in the 15 countries that share the single currency fell at its fastest annual rate for five years in July, in a further sign that slowing demand is hitting euro−zone exports.
[ Full Story ]- Industrial production data at Eurostat
- UPDATE 1−Euro zone industry output fall adds to woes (Thomson Financial News)
- Euro zone industry output falls 0.3 pct m/m in July (Thomson Financial News)
- INSTANT VIEW 1−Euro zone industry output falls in July (Thomson Financial News)
EMU economic indicators - EMU industrial production (July): down by BHF−Bank
EMU EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 12 | 09:00 | Employment Change (QoQ) | 0.2% | - | 0.3% |
| Sep 12 | 09:00 | Employment Change (YoY) | 1.2% | - | 1.6% |
DATA SNAP: Euro−Zone Continued To Add Jobs In 2Q (Dow Jones)
The number of people in employment across the 15 countries that use the euro continued to rise in the three months to the end of June, even though economic activity declined.
[ Full Story ]- Euro area and EU27 employment up by 0.2% at Eurostat
- Euro Zone's employment kept growing in the second quarter (FXstreet.com)
- TABLE−Euro zone Q2 employment up 0.2 pct q/q (Thomson Financial News)
- EU Employment increased 0.2% in 2Q; 1.2% up year on year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 12 | 04:30 | JP | Industrial Production (MoM) (Jul) | 1.3% | -2.2% | |
| 04:30 | JP | Industrial Production (YoY) (Jul) | 2.4% | 0.0% | ||
| 09:00 | EMU | Employment Change (QoQ) (2Q) | 0.2% | 0.3% | ||
| 09:00 | EMU | Employment Change (YoY) (2Q) | 1.2% | 1.6% | ||
| 09:00 | EMU | Industrial Production s.a. (MoM) (Jul) | -0.3% | -0.2% | -0.2% |
|
| 09:00 | EMU | Industrial Production w.d.a. (YoY) (Jul) | -1.7% | -0.4% | -0.8% |
|
| 12:30 | CA | Capacity Utilization (2Q) | 79.5% | 79.8% | ||
| 12:30 | US | Producer Price Index (MoM) (Aug) | -0.5% | 1.2% | ||
| 12:30 | US | Producer Price Index (YoY) (Aug) | 10.2% | 9.8% | ||
| 12:30 | US | Producer Price Index ex Food & Energy (MoM) (Aug) | 0.2% | 0.7% | ||