Wednesday, Sep 24, 11:35 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: Understand & Use Fibonacci Ratio’s Effectively by Sunil Mangwani
- Special Coverage - Bernanke's and Paulson's testimonies by FXstreet.com
- Streaming Forex Charts - 22 currency pairs and 21 technical indicators, FREE! by Netdania/FXCM
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Forex Blogs
The Advisor Weblog: Starting a new day by Valeria Bednarik
Hi everybody, hope you are fine. Things haven't changed that much since yesterday, and in fact won't change for long: the American crisis is still there, in the headlines, while Europe and England are suffering economic slowdown also.
Trade Setups: Forex Video | Set ups 24 Sept ‘08 | Analysis by Phil Newton
FX Path: GBP/USD Update − Continued Climb by James Chen
Live Sessions Schedule
Main Fundamental theme in the Currency Market
Expert: John Kicklighter
Start: Wed, Sep 24, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Risk Management
Expert: Valeria Bednarik
Start: Wed, Sep 24, 14:00 GMT
Type of Session: Webinar
Topics
− How to manage your capital in order to become profitable?
− Caution trading could be worthy too
− Why waiting for stop hunting and margin calls?
| Sponsored by | ||||
| Wed, Sep 24, 11:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Wed, Sep 24, 12:00 GMT | Central Bank Review | Adam Rosen | WBN |  |
| Wed, Sep 24, 13:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN | |
| Wed, Sep 24, 14:00 GMT | Risk Management | Valeria Bednarik | WBN | |
Current Session: Europe − U.S.
USD/CHF
Daily Trading Forecast − The dollar made a mild recovery versus the European and the antipodean currencies on Tuesday by Swiss e Trade AG
The dollar constantly gained ground against the low−yielding Swiss franc (as against the low−yielding yen) in early European trading and is now at 1.0880 from yesterday's low at 1.0700. To confirm this countermove compared to other major pairs, the USD has to break the 1.0900 resistance level first and then 1.0940, which we expect to hold in today's trading. A downmove would be limited at 1.0780.
- Fed Special Coverage Transcript by Valeria Bednarik
- Technical Analysis Bootcamp: The indicators you need to know and how to interpret them by Dan Blystone, Founder TradersLog.com
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Currency Technical Report − Currency Technical Report by FXGreece
Forex Technical Report − EURUSD In a Retracement by ForexHound.com
Currency on the Day − EUR/USD by Forex−Trends.com
Weekly Outlook
Weekly Forex Outlook − Crashing stocks Prompt record Bailout from US Government by Easy Forex
Banks' Analysis
Technical analysis: US Ten Year Note Future − US TNote Future – Dec 2008 by Mizuho Corporate Bank
Forex Analysts' Blog
EURO and GBP are to drop and then rise by Dr. S. Sivaraman, of i−knowindices.com
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Continues to trade around pivot level 1.4699
09/24/2008 10:06 GMT - GBP/USD
- Moves up above pivot level 1.8542
09/24/2008 10:06 GMT - USD/CHF
- Stays around opening price level 1.0863 , above pivot level 1.0825
09/24/2008 10:07 GMT - USD/JPY
- Trades above first resistant level 106.02
09/24/2008 10:07 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 EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Sep 24 | 14:00 | Existing Home Sales | 49.5M | 5.0M |
| Sep 24 | 14:00 | Existing Home Sales (MoM) | -1.0% | 3.1% |
US economic indicators - We thus expect existing home sales to have fallen back to 4.92m in August by BHF−Bank
Existing home sales increased noticeably from 4.85m to 5.00m in July, after pending home sales had rebounded in the previous months. However, July pending home sales, which lead existing home sales by 1 to 2 months, went down by 3.2% mom. We thus expect existing home sales to have fallen back to 4.92m in August.
[ Full Story ]Top Market Movers Review
UK CBI DISTRIBUTIVE TRADES SURVEY − REALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 10:00 | CBI Distributive Trades Survey − Realized (MoM) | -27 | - | -46 |
DATA SNAP: UK Sep Sales Volume −27 Vs Aug −46 −CBI (Dow Jones)
Sales volume at U.K. retailers was better than expected in September, but remained weak as the credit crunch, higher inflation and weaker consumer confidence continued to depress activity, a survey by the Confederation of British Industry showed Wednesday.
[ Full Story ]- Read the official data at CBI
- UPDATE 1−UK retail sales fall less than expected in Sept−CBI (Thomson Financial News)
- UPDATE: UK Sep Sales Volume −27 Vs −46 In Aug − CBI (Dow Jones)
- UK Sept retail sales fall less than expected −CBI (Thomson Financial News)
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 08:00 | IFO − Expectations | 86.5 | 87.3 | 87.0 |
| Sep 24 | 08:00 | IFO − Business Climate | 92.9 | 94.1 | 94.8 |
German IFO business conditions index deteriorates in September (FXstreet.com)
Business conditions seem to continue deteriorating in Germany in September, compared to August, according to the latest report by the IFO institute for economic research.
[ Full Story ]- Business Climate Index at CESifo Group
- 2nd UPDATE: German Ifo Business Climate Drops In September (Dow Jones)
- German Ifo Nerb: ECB Should Signal Interest Rate Cut (Dow Jones)
- Ifo's Nerb says time for ECB to cut interest rates (Thomson Financial News)
Flash Comment - Euroland: Ifo highlights recession risk by Danske Bank A/S
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 24 | 08:00 | EMU | Current Account n.s.a (Jul) | -1.1 | -1.0B | |
| 08:00 | EMU | Current Account s.a (Jul) | -1.7 | -8.2B | ||
| 08:00 | DE | IFO − Business Climate (Sep) | 92.9 | 94.1 | 94.8 | |
| 08:00 | DE | IFO − Expectations (Sep) | 86.5 | 87.3 | 87.0 | |
| 10:00 | UK | CBI Distributive Trades Survey − Realized (MoM) (Sep) | -27 | -46 | ||
| 11:00 | US | MBA Mortgage Applications (Sep 19) | -10.6% | 33.4% | ||
| 14:00 | US | Existing Home Sales (Aug) | 49.5M | 5.0M | ||
| 14:00 | US | Existing Home Sales (MoM) (Aug) | -1.0% | 3.1% | ||
| 14:00 | US | Fed's Bernanke testifies | ||||
| 14:35 | US | EIA Crude Oil Stocks change (Sep 19) | -6.3M | |||