Friday, Jul 31, 11:27 GMT
U.S. Trading Newsletter
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To Get Started
- US GDP Live Coverage: Friday, at 12:00 GMT Live with Nick Nasad from the Homepage and the Calendar
- WEBINAR VIDEOS: Bollinger Bands and RSI with Valeria Bednarik
- Forex Tools renewed! Check out the brand new features: Margin Calculator and Carry Trade Calculator
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: Optimistic US GDP Report Due Up Friday – Dollar Rallies by Jerry Furst
The Consensus Range for Friday's US GDP is −2.8 to 0.7, with a consensus number of −0.7% growth . This is highly optimistic since last month's GDP number came in at a negative −5.5%.
FX Market Readings: Month end expected moves by Dr. S. Sivaraman
The disciplined trader: EUR/USD moved off bottom trendline - Diagonal on track by Pierre Charlebois
Sponsored by 
Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Fri, Jul 31, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Jul 31, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 31, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Fri, Jul 31, 13:30 GMT | US Session Open  | Ed Ponsi | WBN |  |
| Fri, Jul 31, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
| Mon, Aug 3, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: Europe − U.S.
EUR/USD has stabilized after rebounding off 1.40
Informa Global Markets − The EUR/USD has stabilized after rebounding off 1.40, near the midpoint of the latest 1.38−1.42 range and a key fibonacci retracement (61.8% of 1.3839−1.4300). The possible bearish rejection off former trendline support hints of a weakness towards 1.3957 initially (78.6% of 1.3839−1.4300). If the 50−day MA (1.4033) remains supportive, then the medium−term bullish structure remains intact.
USD/JPY
USD/JPY − 4HR: Three waves down, the last one finishing with a double bottom with divergence by FXstreet.com Independent Analyst Team
Three waves down, the last one finishing with a double bottom with divergence (D). We have then pulled higher in a trend channel at an angle of + 26 degrees.
GBP/USD
The GBP/USD cross soared yesterday by ForexYard
The daily chart's oscillators seem to be neutral. However, the daily chart's RSI and MACD signal that the pair is overbought, and that a bearish correction may take place today.
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 GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Jul 31 | 12:30 | Gross Domestic Purchases Price Index | - | -1% |
| Jul 31 | 12:30 | Gross Domestic Product Annualized | - | -5.5% |
| Jul 31 | 12:30 | Real Personal Consumption Expenditures (QoQ) | - | 1.4% |
Friday Notes - In 2Q, the US economy likely contracted for the fourth consecutive quarter by UniCredit Group
[ Full Story ]Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 31 | 09:00 | Consumer Price Index (YoY) | -0.6% | - | -0.1% |
Euro−Zone July CPI Estimate −0.6% Vs June −0.1%, Fresh Low (Dow Jones)
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 31 | 01:30 | AU | Private Sector Credit (MoM) (Jun) | 0.1% | 0.1% | -0.1% |
| 05:00 | JP | Construction Orders (YoY) (Jun) | -28.0% | -41.9% | ||
| 05:00 | JP | Housing Starts (YoY) (Jun) | -32.4% | -30.7% | -30.8% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Jul)  | -0.6% | -0.1% | ||
| 09:00 | EMU | Unemployment Rate (Jun) | 9.4% | 9.3% |
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| 09:30 | CH | KOF Leading Indicator (Jun) | -0.99 | -1.46 | -1.49 |
|
| 12:30 | US | Employment Cost Index (2Q) | 0.3% | |||
| 12:30 | CA | Gross Domestic Product (MoM) (May) | -0.4% | -0.1% | ||
| 12:30 | US | Gross Domestic Product Annualized (2Q) | -5.5% | |||
| 12:30 | US | Gross Domestic Purchases Price Index (2Q) | -1% | |||
Educational Resources
What is the purpose of the foreign exchange market?, or any trading market for that matter? It seems like a simple question with a simple answer. But this is in reality a world of complexity. Read Joseph Trevisani's article!
Previous Market and Trader Psychology article
The Psychological Utility of Technical Analysis by Joseph Trevisani