Thursday, Jul 16, 11:12 GMT
U.S. Trading Newsletter
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- WEBINAR VIDEOS: Introduction to Candlestick Patterns by Andrei Pehar
- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a living: U.S. Dollar: Is risk appetite here to stay? by David Aranzabal
Since the beginning of the week, the Dow Jones Industrial Average has climbed more than 450 points and in that same time, we have seen the U.S. dollar sell off against every major currency except for the Japanese Yen. With earnings season is in full swing, currencies are taking all of their cues from equities.
FX Market Readings: Downward and upward stop hunt moves for a day by Dr. S. Sivaraman
CEO's Blog: Forex.com UK joins the pool of brokers participating in FXstreet’s Pip Rebate Program by Francesc Riverola
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
Live Trading of Forex and e−mini markets − Free Access Day
Expert: Markus Heitkoetter
Start: Thu, Jul 16, 14:00 GMT
Type of Session: Webinar
The Unwinding Of The G−8 Consensus − Free Access Day
Expert: Joseph Trevisani
Start: Thu, Jul 16, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 16, 11:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN |  |
| Thu, Jul 16, 12:00 GMT | Getting ready to go live − Free Access Day | Adam Rosen | WBN |  |
| Thu, Jul 16, 14:00 GMT | Live Trading of Forex and e−mini markets − Free Access Day | Markus Heitkoetter | WBN | |
| Thu, Jul 16, 16:00 GMT | The Unwinding Of The G−8 Consensus − Free Access Day | Joseph Trevisani | WBN | |
Current Session: Europe − U.S.
Euro Meeting Stiff Resistance Against Dollar Again
Swiss e Trade − After a weak dollar market yesterday, the EUR / USD and other pairs are trying to consolidate their gains in this European morning. But they are hovering just below the well−known resistance levels against the dollar, expressed in the EUR / USD by 1.4150. The also well−known inverse correlation between the Greenback and the stock markets helped weaken the U.S. currency, but the quick positive start of equities into this week is most probably losing its tune now. We therefore expect some bid tone for the dollar to emerge before the week ends.
Dollar
Forecast on USD Majors − Updates for Europe Session by Precise Trader
EUR/USD is trading below the open and is in a very narrow trading range. The price is making lower lows on the Hourly Chart but within the Uptrend level.
Pound
GBP/USD: Attempt small longs at 1.6400 by Mizuho Corporate Bank
Rallying slowly again after the Monday's ‘hammer' candle ahead of the top of the Ichimoku ‘cloud' and the bottom of the ‘triangle'. Expect a test of the top of the formation this 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 PHILADELPHIA FED MANUFACTURING SURVEY
| Date (GMT) | Event | Cons. | Previous | |
| Jul 16 | 14:00 | Philadelphia Fed Manufacturing Survey | -4.9 | -2.2 |
US economic indicators - Philadelphia Fed index in July: −5 by BHF−Bank
Where as the Philadelphia Fed index improved markedly in June, the New York Empire manufacturing index fell back somewhat. We expect the gap to narrow and both indices to remain below zero in July, still indicating contraction. Thus we forecast a level of –5 for both the New York Empire and the Philadelphia Fed index in July.
[ Full Story ]Top Market Movers Review
Switzerland ZEW SURVEY − EXPECTATIONS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 16 | 09:00 | ZEW Survey − Expectations | 0.0 | - | 9.7 |
DATA SNAP: Swiss ZEW Index Neutral In July, Slips Vs June (Dow Jones)
[ Full Story ]- Read full Survey at ZEW Institute
- Switzerland ZEW Survey down to 0 in Jul from 9.7 (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 15 | 14:30 | US | EIA Crude Oil Stocks change | -2.8M | -1.9M | -2.9M |
| 18:00 | US | FOMC Minutes | ||||
| 22:45 | NZ | Food Price Index (MoM) (Jun) | 2.8% | 0.3% | ||
| 23:50 | JP | Tertiary Industry Index (MoM) (May) | -0.1% | 0.3% | 2.2% | |
| Jul 16 | 09:00 | CH | ZEW Survey − Expectations (Jul) | 0.0 | 9.7 | |
| 10:30 | US | Treasury's Geithner Speech | ||||
| 12:30 | US | Continuing Jobless Claims (Jul 4) | 6800K | 6883K | ||
| 12:30 | US | Initial Jobless Claims (Jul 11) | 530K | 565K | ||
| 13:00 | US | Net Long−term TIC Flows (May) | $16.5B | $11.2B | ||
| 13:00 | US | Total Net TIC Flows (May) | -$11.2B | -$53.2B | ||
Educational Resources
If you can't spot it, don't trade it
You will find that all successful traders share one thing in common. They all (without exception) have an edge based on low risk entries. Gabe Velazquez looks at why new traders need to learn to identify low risk entry points if they want to enjoy a successful trading career. Read the report!
Other Articles:
Faith−Based Economics from The Trader's Journal May issue
Pivot Point Analysis from The Trader's Journal March issue
Using Moving Averages as Trend filters from The Trader's Journal March issue