Monday, Nov 24, 12:05 GMT
U.S. Trading Newsletter
Forex Essentials Course
21 lessons to get started in the Forex Market by LearningMarkets.com
From the Basics to the Portfolio Management, going through key topics for your learning such as Margin and Leverage, Support and Resistance, Fibonacci Analysis or Reversal Patterns. Specially built for beginners and for those who want to refresh their knowledge.
Definitely an extensive review of the Forex that you can't miss.
More educational resources in the education section
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- Webinar Videos: MONTHLY WEBINAR: Forex in Five: Full time strategies for part time traders by Raghee Horner
- All the events of the day in our Economic Calendar
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Forex Blogs
Forexology: Fear and greed by Sunil Mangwani
This is an article which I came across on one of the forums & requested permission to put it up on my blog. I feel that this explains the basic factors of what makes the market move. s I often mention while discussing the harmonic patterns − "what is the reason for these patterns to form?"
FXBootcamp: Weekly Pivot Points by Wayne McDonell
Trading Setups: Forex Video - Set ups 24 Aug ‘08 - Analysis by Phil Newton
Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Nov 24, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Nov 24, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Nov 24, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Nov 24, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Tue, Nov 25, 11:00 GMT | Trade What Is Real, Not What You Feel: Quantifying Supply (resistance) and Demand (support) In The Forex Markets | Sam Seiden | WBN |  |
| Tue, Nov 25, 12:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
Current Session: Europe − U.S.
USD/JPY
Daily Forex News − Forex − Investors remain cautious despite Citigroup rescue by ACM − Advanced Currency Markets
Market has been holding slightly below 99.80 September−October trendline resistance in the latest weeks and even dropping to 93.56 low last week. Initial resistance holds 97.55 last Monday high. On the upside, only a recovery over 103 upper trendline and 105 pivot point will put focus again on 108 and 110.67 15th August high. Meanwhile, strong resistance holds 100 pivot point. Further pressure in the current downtrend might open the way down to 94.80 13th November low and then 79.70 April 1995 low. Strong support holds 90.91 24th October low.
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USD
Forex Trading Strategies − USD seems to be losing steam, but still trading in a range by Saxo Bank
If we are seeing a wider attempt at a little risk appetite here in FX−land, then we might look for the likes of GBPUSD and AUDUSD to perform best to the upside.
WEEKLY OUTLOOK
Weekly Technical Strategist − EURUSD: Triangle Break Expected To Resolve To The Downside by FXTechstrategy
As range trading dominates price action between the 1.2330 and 1.3298 levels, the symmetrical triangle formed within that range is expected to resolve to the downside.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ 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 | |
| Nov 24 | 15:00 | Existing Home Sales (MoM) | -3.5% | 5.5% |
Existing home sales are expected to fall back to 5.05M annualized rate in Oct by ActionForex.com
From US, existing home sales are expected to fall back to 5.05M annualized rate in Oct after the surprised jump to 5.18M in September. Note that the 3−month, 6−month, 12−month average in Sep was 5.04m, 4.97m and 4.97m respectively. Any figure above 5m will be supportive to the view that sales are stabilizing as price falls.
[ Full Story ]Top Market Movers Review
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 24 | 10:00 | Industrial New Orders (YoY) | -1.1% | -1.5% | -6.4% |
| Nov 24 | 10:00 | Industrial New Orders s.a. (MoM) | -3.9% | -2.8% | -1.5% |
DATA SNAP: Euro−Zone Industrial Orders Slump In Sep (Dow Jones)
Euro−zone new industrial orders fell more than expected in September as the 15−nation currency bloc's economy slipped into recession for the first time, data released by the European Union's Eurostat statistics agency showed Monday.
[ Full Story ]- Industrial new orders down by 3.9% in euro area at Eurostat
- UPDATE 1−Euro zone orders fall points to recession, ECB cut (Thomson Financial News)
- INSTANT VIEW 4−Euro zone Sept industry orders down 3.9 pct m/m (Thomson Financial News)
- INSTANT VIEW 3−Euro zone Sept industry orders down 3.9 pct m/m (Thomson Financial News)
EMU economic indicators - EMU industrial new orders are expected to have decreased further in September by BHF−Bank
FX Briefing - Euro: moderately weak by BHF−Bank
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 24 | 09:00 | IFO − Business Climate | 85.8 | 88.7 | 90.2 |
| Nov 24 | 09:00 | IFO − Expectations | 77.6 | 81.0 | 81.4 |
German Nov Ifo index falls to lowest since Feb 1993 (Thomson Financial News)
German corporate sentiment fell by much more than expected in November to its lowest level since February 1993 as firms grew more gloomy about the business outlook, a closely watched survey showed on Monday.
[ Full Story ]- Read the official data at Ifo
- UPDATE 2−German business morale plunges to near 16−yr low (Thomson Financial News)
- UPDATE: German Nov Ifo Drops To Lowest Level Since Feb 93 (Dow Jones)
- INSTANT VIEW 7−German Ifo index lowest in nearly 16 years (Thomson Financial News)
Daily Forex Technical Report − Dollar and Yen Soft in Range, Germany Ifo Eyed by ActionForex.com
Trading News Report - EUR/USD: Trading the German IFO Business Confidence Survey by FXCM
Friday Notes - German IFO: Nosediving by HVB Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 24 | 09:00 | EMU | Current Account n.s.a (Sep) | -6B | -6B |
|
| 09:00 | EMU | Current Account s.a (Sep) | -10.6B | -5.3B |
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| 09:00 | UK | Gordon Brown's Speech (Oct) | ||||
| 09:00 | DE | IFO − Expectations (Nov) | 77.6 | 81.0 | 81.4 | |
| 10:00 | EMU | Industrial New Orders (YoY) (Sep) | -1.1% | -1.5% | -6.4% |
|
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Sep) | -3.9% | -2.8% | -1.5% |
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| 15:00 | US | Existing Home Sales (MoM) (Oct) | -3.5% | 5.5% | ||
| 15:30 | UK | Pre−Budget Report | ||||
| 17:00 | US | Barack Obama Speech | ||||
| 23:50 | JP | Corporate Service Price (YoY) (Oct) | -0.5% | 0.1% | ||