Tuesday, Jun 30, 11:16 GMT
U.S. Trading Newsletter
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Forex Blogs
Trading for a living: GBP/USD: Good opportunity at strong daily resistance by David Aranzabal
Today Cable went up very strong as the Nationwide HPI report got quite a lot deviation. The initial reaction was a strong spike but the price formed a consolidation pattern at daily resistance (62% retr. from the previous leg down). After the consolidation (123 figure) we got a good opportunity to go short, stop above the previous swing high, targeting the 100% retracement (very tipical when the price retraces after the news…)
CEO'S Weblog: CFTC Sanctions Foreign Currency Broker, Interbank FX, LLC, Who Allowed Confidential Personal Information of its Customers to Appear on the Internet by Francesc Riverola
FX Market Readings: EURO and GBP are expected to make month end big moves by Dr. S. Sivaraman
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Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Jun 30, 14:00 GMT
Type of Session: Webinar
Intraday Trading
Expert: Lea Peters
Start: Tue, Jun 30, 19:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jun 30, 11:00 GMT | Forex Fundamentals − What To Watch | Steve Misic | WBN |  |
| Tue, Jun 30, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Tue, Jun 30, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Tue, Jun 30, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe − U.S.
Euro reached upper part of sideways formation on rise in stock markets and oil prices
FXGreece − We remain cautious against this scenario, but we will follow it in case it happens. If the area of 1,4130−50 is not breached or a weak move above these levels is formed and the price returns below 1,4100, it will be a sign that the sideways formation is still valid and support at 1,3980−00 and 1,3880−00 will be back into focus. High volatility is expected today due to important economic announcements that are due to release and the fact that today is the last day of the month and the second quarter…
Majors
Major Pairs: Oversold / Overbought Does it for the Moment by Swiss e Trade AG
Much of the fundamental observations in the last months did not bring home the bacon. It was quite enough to follow pure technical considerations, like overbought / oversold and resistance / support constellations in the majors against the dollar, longer or shorter term...
Oil
Daily Oil Prices − Nigeria, China and the Dollar by Master The Markets
Yesterday's sharp rally in crude oil prices has been attributed to a variety of factors not least of which was a further bout of Dollar weakness which is expected to continue throughout this shortened trading week.
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 CHICAGO PURCHASING MANAGERS' INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jun 30 | 13:45 | Chicago Purchasing Managers' Index | 38.6 | 34.9 |
US economic indicators - Chicago PMI: Deterioration has only slowed modestly in June by BHF−Bank
The Beige Book indicated that overall activity weakened further in Chicago, and our forecast of 38.0 suggests that the pace of deterioration has only slowed modestly in June.
[ Full Story ]US CONSUMER CONFIDENCE
| Date (GMT) | Event | Cons. | Previous | |
| Jun 30 | 14:00 | Consumer Confidence | 55.1 | 54.9 |
US economic indicators - Consumer confidence (June): slight decline after rebound in April and May by BHF−Bank
Despite rapidly rising unemployment, the Conference Board's consumer confidence rebounded in April and May, particularly due to expectations. However, confidence could have fallen in June: the June survey of the University of Michigan showed a slight deterioration in expectations, and the weekly ABC consumer comfort poll has declined by six points in the last two weeks.
[ Full Story ]Fundamental Forex Foundations - Consumer Confidence by FXstreet.com Independent Analyst Team
Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 30 | 09:00 | Consumer Price Index (YoY) | -0.1% | -0.2% | 0.0% |
DATA SNAP: Euro−Zone CPI Rate Neg For First Time On Record (Dow Jones)
[ Full Story ]- Read the CPI data at Eurostat
- UPDATE: Euro−zone CPI Rate Negative For First Time On Record (Dow Jones)
- EU June CPI falls 0.1%, first time since records began; EUR/USD slightly high (FXstreet.com)
- EU Jun CPI declines 0.1% for first time since record began (FXstreet.com)
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 30 | 08:30 | Gross Domestic Product (QoQ) | -2.4% | -2.1% | -1.9% |
| Jun 30 | 08:30 | Gross Domestic Product (YoY) | -4.9% | -4.3% | -4.1% |
DATA SNAP: UK 1Q GDP −2.4% QQ; Largest Decline In 50 Years (Dow Jones)
[ Full Story ]- Forex: GBP/USD falls to 1.6600 after the UK 1Q GDP (FXstreet.com)
- UK 1Q GDP revised to −2.4% QoQ, −4.9% YoY (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 30 | 08:30 | UK | Current Account (1Q) | £-8.5B | -£6.7B | -£8.8B |
| 08:30 | UK | Gross Domestic Product (QoQ) (1Q) | -2.4% | -2.1% | -1.9% | |
| 08:30 | UK | Gross Domestic Product (YoY) (1Q) | -4.9% | -4.3% | -4.1% | |
| 08:30 | UK | Total Business Investment (QoQ) (1Q) | -7.6% | -5.5% | -1.5% | |
| 08:30 | UK | Total Business Investment (YoY) (1Q) | -9.7% | -6.8% | -4.5% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Jun)  | -0.1% | -0.2% | 0.0% | |
| 12:30 | CA | Gross Domestic Product (MoM) (Apr) | -0.1% | -0.3% | ||
| 12:30 | CA | Industrial Product Price (MoM) (May) | -0.6% | -0.5% | ||
| 13:00 | US | S&P/Case−Shiller Home Price Indices (Apr) | -18.7% | -18.7% | ||
| 13:45 | US | Chicago Purchasing Managers' Index | 38.6 | 34.9 | ||
Educational Resources
Forex trading system is the subsystem of the forex trading plan which controls when and at which price you open and close your trades. Any currency trading system prevents information overload by filtering the universe of technical and/or fundamental signals in such a way that only the most reliable signals or signal combinations are acted upon. Check ForexHit's report!
Related Resources
System Building - Report by FX Engines
Forex Trading Systems - Report by StraightForex
Building a Trading System in the Forex - Webinar recording by John Jagerson
Trading Systems - Transcript session by Dan Blystone