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Forex Blogs
Chartology: USD/JPY Minute Breakdown to 30 Minute Swing by Raghee Horner
As the USD/JPY is setting up a 30 minute swing buy heading into the early Asian session, there is great confirmation of the breakdown leading to the correction on the 15 minute.
FX Market Readings: Week end volatile moves by Dr. S. Sivaraman
ForexHedge: USD/JPY Trend by Ron Schelling
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Live Sessions Schedule
Maximizing Trade Entry Opportunities in the Forex Market
Expert: James Chen
Start: Fri, Jul 24, 12:00 GMT
Type of Session: Webinar
Trading Forex Volatility
Expert: Mark Whistler
Start: Fri, Jul 24, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 24, 12:00 GMT | Maximizing Trade Entry Opportunities in the Forex Market | James Chen | WBN |  |
| Fri, Jul 24, 14:00 GMT | Trading Forex Volatility | Mark Whistler | WBN | |
| Fri, Jul 24, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
| Mon, Jul 27, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: Europe − U.S.
EUR/USD needs to trade and hold above 1.4205
Charmer Charts.com −Today to keep the upward bias This needs to trade and hold abo0ve 1.4205. You would then see this come back within the upper boundaries of the range with 1.4270 to 1.4300 the targeted area. Here buyers will be liquidating longs. You will find that they will only have their interest rekindled if the market breaks 1.4335/40. Until it can break these higher levels the sellers will just feed off them.
GBP/USD
After testing the 1.6550 resistance level, cable fell back to 1.6435 by Swiss e Trade AG
The pair took up some bid tone this European morning, although in very low volatilty, from lows around 1.4130 yesterday to now 1.4220. We still expect the 1.4300 resistance level to hold today
USD/JPY
USD/JPY: The overall bias here is positive for 96.+ by www.deltastock.com
The overall bias here is positive for 96.+, but from an intraday point of view, a minor consolidation unfolds below 95.29, so expect one more drowning towards 94.31, before building a base for the next leg upwards.
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 REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jul 24 | 13:55 | Reuters/Michigan Consumer Sentiment Index | 65.1 | 70.8 |
US economic indicators - We would expect UMI's final July consumer sentiment to be about 65 by BHF−Bank
The University of Michigan's (UMI) preliminary July consumer sentiment fell to 64.6, possibly reflecting high unemployment and rising gasoline prices. The current assessment fell by 2.8 points to 70.4, the outlook deteriorated even more drastically by 8.3 points to 60.9. In the light of the weekly ABC consumer comfort poll, we would expect UMI's final July consumer sentiment to be about 65, more or less the same as the preliminary figure.
[ Full Story ]Top Market Movers Review
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 24 | 08:30 | Gross Domestic Product (QoQ) | -0.8% | -0.3% | -2.4% |
| Jul 24 | 08:30 | Gross Domestic Product (YoY) | -5.6% | - | -4.9% |
DATA SNAP: UK 2Q GDP −0.8%; Far Worse Than Expected (Dow Jones)
U.K. output declined far more than expected in the second quarter, the Office for National Statistics said Friday, casting doubt on suggestions the economy was stabilizing after a deep recession.
[ Full Story ]- Gross Domestic Product data at National Statistics
- 2nd UPDATE: UK GDP Falls 0.8% In 2Q In Blow To Recovery Talk (Dow Jones)
- European markets extend rally; Pound reverses after gloomy GDP (FXstreet.com)
- Forex: GBP/USD: Pound tumbles below 1.6500 on grim GDP data (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 24 | 08:00 | DE | IFO − Expectations | 90.4 | 90.1 | 89.5 |
| 08:00 | EMU | Purchasing Manager Index Manufacturing  | 46.0 | 43.6 | 42.6 | |
| 08:00 | EMU | Purchasing Manager Index Services | 45.6 | 45.2 | 44.7 | |
| 08:30 | UK | Gross Domestic Product (QoQ) | -0.8% | -0.3% | -2.4% | |
| 08:30 | UK | Gross Domestic Product (YoY) | -5.6% | -4.9% | ||
| 08:30 | UK | Index of Services | -1.0% | 0.1% | -1.2% |
|
| 13:55 | US | Reuters/Michigan Consumer Sentiment Index | 65.1 | 70.8 | ||
| 14:00 | US | Treasury's Geithner Speech | ||||
| Jul 26 | 23:50 | JP | Corporate Service Price (YoY) | -3% | ||
| Jul 27 | 06:00 | DE | Gfk Consumer Confidence Survey | 2.9 | ||
Educator of the Month: Wayne McDonell
Wayne McDonell is a professional FOREX trader with an Entrepreneurial spirit and a business leader's mind. He trades his own funds and trains others how to do so consistently and profitably by coaching them everyday... in the live FOREX markets. Wayne has been a close contributor of FXstreet.com for many years. Check the links below!
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The FX Bootcamp Guide to Strategic and Tactical Forex Trading - Wayne's book
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