Friday, Aug 28, 11:02 GMT
U.S. Trading Newsletter
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- WEBINAR VIDEOS: Looking for day-trades by Adam Rosen
- 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
The Disciplined Trader: GBP/USD has broken long term trend−line by Pierre Charlebois
Retracement is likely from this area, however this breach may be signaling tops are finally forming. The next key support is 1.60.
The Trader's Edge: Pre-European Session: EUR/USD by Ross Yamashita
CEO's Blog: Go “Back To School” With The Kids This Year And Learn How To Avoid Falling For This Year’s Top 10 Investor Traps by Francesc Riverola
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Live Sessions Schedule
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Aug 28, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Aug 28, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN |  |
| Mon, Aug 31, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Mon, Aug 31, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Aug 31, 12:00 GMT | Technical Analysis MACD and MACD Aspray | Valeria Bednarik | WBN | |
Current Session: Europe − U.S.
Good bounce from 1.6160 again yesterday
Charmer Charts.com − Good bounce from 1.6160 again yesterday.. Now this level has held twice re−enforcing this as a good support level. This morning you have seen the market above 1.6270, but it has been held by 1.6305. Now this is good resistance at 1.6305/20 and today you so not wish to see the market break above here. If it does then the downside pressure will be taken off, and bulls will be in with a good chance if taking this higher to 1.6450/80 to 1.6510.
EUR/USD
The pair is defending its higher levels this European morning by Swiss e Trade AG
Currently trading near the highs at 1.4355. There is a stiff resistance overhead, at around 1.4420, and we doubt that this level will be broken today.
EUR/CHF
Bulls failed to cross the bearish trend−line by Varengold Wertpapierhandelsbank AG
After the currency pair traded from July till middle of August close to a bullish trendline, it rebounded and plunged down to its support at 1.5152.
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 PERSONAL INCOME
| Date (GMT) | Event | Cons. | Previous | |
| Aug 28 | 12:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.1% | 0.2% |
| Aug 28 | 12:30 | Personal Consumption Expenditure Deflator | -0.9% | -0.4% |
| Aug 28 | 12:30 | Personal Income (MoM) | 0.2% | -1.3% |
| Aug 28 | 12:30 | Personal Consumption Expenditures | 0.2 | 0.4 |
| Aug 28 | 12:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 1.3% | 1.5% |
US economic indicators - PCE core deflator (Jul): approaching the lower end of the Fed's comfort zone by BHF−Bank
We forecast that the PCE core deflator will have increased modestly by 0.1% mom in July, just like core CPI. The yearly rate could thus drop further to 1.3% – approaching the lower end of the Fed's comfort zone (1–2%).
[ Full Story ]US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Aug 28 | 14:00 | Reuters/Michigan Consumer Sentiment Index | 64.5 | 66.0 |
US economic indicators - UMI's final consumer sentiment will recover slightly by BHF−Bank
The decrease in UMI's preliminary consumer sentiment was primarily due to the current assessment. As the weekly ABC consumer comfort poll, which focuses on present conditions, has improved modestly during the course of August, we estimate that UMI's final consumer sentiment will recover slightly to 64.5.
[ Full Story ]Top Market Movers Review
EMU CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 28 | 09:00 | Economic Confidence | 80.6 | 78.0 | 76.0 |
| Aug 28 | 09:00 | Consumer Confidence | -22 | -21 | -23 |
| Aug 28 | 09:00 | Industrial Confidence | -26 | -28 | -30 |
DATA SNAP:Euro−Zone Service Providers Drive Confidence Surge (Dow Jones)
[ Full Story ]- EU Economic Confidence improves to 80.6 in Aug from 76 (FXstreet.com)
Top Fundamental Stories - GDP in the U.K. remains unchanged, while confidence is expected to show further progress in the Euro Zone by ecPulse.com
EMU economic indicators - EMU industrial confidence and economic sentiment (August): up by BHF−Bank
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 28 | 08:30 | Gross Domestic Product (QoQ) | -0.7% | -0.8% | -2.4% |
| Aug 28 | 08:30 | Gross Domestic Product (YoY) | -5.5% | -5.6% | -5.6% |
DATA SNAP: UK 2Q GDP Revised Up, Record Annual Fall Stands (Dow Jones)
[ Full Story ]- Read the GDP data at UK Statistics
- UPDATE: UK 2Q GDP Revised Up, But Record Annual Fall Stands (Dow Jones)
- UK GDP contracts at record annual pace, despite upward revision; Pound eases (FXstreet.com)
- UK 1Q GDP revised to −0.7% QoQ and −5.5% YoY (FXstreet.com)
Top Fundamental Stories - GDP in the U.K. remains unchanged, while confidence is expected to show further progress in the Euro Zone by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 28 | 08:30 | UK | Gross Domestic Product (QoQ) (1Q)  | -0.7% | -0.8% | -2.4% |
| 08:30 | UK | Index of Services (Jul) | -0.6% | -0.6% | -1.0% | |
| 09:00 | EMU | Consumer Confidence (Aug) | -22 | -21 | -23 | |
| 09:00 | EMU | Economic Confidence (Aug) | 80.6 | 78.0 | 76.0 | |
| 09:00 | EMU | Industrial Confidence (Aug) | -26 | -28 | -30 | |
| 09:30 | CH | KOF Leading Indicator (Aug) | -0.04 | -0.60 | -0.85 |
|
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Jul) | 0.1% | 0.2% | ||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Jul) | 1.3% | 1.5% | ||
| 12:30 | CA | Current Account (2Q) | -11.2B | -9.6B | ||
| 12:30 | CA | Industrial Product Price (MoM) (Jul) | -0.5% | -1.1% | ||