Monday, Aug 31, 11:02 GMT
U.S. Trading Newsletter
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To Get Started
- Don't miss the Non-farm Payrolls Live Coverage Special 40th edition. With Wayne McDonell. Amazing prizes awaiting for you!
- WEBINAR VIDEOS: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- 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
FX Market Readings: Month end expected volatile moves by Dr. S. Sivaraman
EURO and GBP made the drop during start of japanese session along with USD/YEN as month end downward contrarian move.they are expected to recover towards close of Japanese session and then rise quickly during start of European session.
ForexHedge: European Breakouts for next Monday by Ron Schelling
FXBootcamp: Weekly Pivot Points by Curt Wehrley
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Live Sessions Schedule
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Aug 31, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Around Your Day Job
Expert: Ryan O'Keefe
Start: Mon, Aug 31, 19:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Aug 31, 12:00 GMT | Technical Analysis MACD and MACD Aspray  | Valeria Bednarik | WBN |  |
| Mon, Aug 31, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Mon, Aug 31, 19:00 GMT | Trading Around Your Day Job | Ryan O'Keefe | WBN | |
| Mon, Aug 31, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
Current Session: Europe − U.S.
GBPUSD: Continues to Weaken, Targets The 1.5982 Level
FXTechstrategy − Having wiped out its previous week gains following its collapse off 1.6542 the past week, GBP remains vulnerable to the downside. This development now exposes the 1.5982 level, which marks its July 08'09 low with a break and close below there turning focus to the 1.6742 level, its July 30'09 high. Its weekly stochastics which is now bearish and trending lower is supportive of this view.
EUR/USD
1.4380 has become the new upper end of this consolidation phase by ACM − Advanced Currency Markets
We spoke on Friday about slightly higher highs and higher lows being printed in this sideways rangebound action. 1.4380 has become the new upper end of this consolidation phase and 1.4240 as a low today.
USD/JPY
With the break below 93.62, the pair is in a downtrend for 91.60 by www.deltastock.com
With the break below 93.62, the pair is in a downtrend for 91.60, en route to 90.35. Nearest resistance comes at 93.20−40 zone and crucial is 94.09.
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
Canada GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Cons. | Previous | |
| Aug 31 | 12:30 | Gross Domestic Product Annualized (QoQ) | -3.0% | -5.4% |
| Aug 31 | 12:30 | Gross Domestic Product (MoM) | 0.2% | -0.5% |
Daily Currencies Report - Dollar Gains v. the Euro and Pound by UFX Bank
RMPI came out better at −3.8% versus −4.9% forecast and IPPI came out at −0.5% as expected. Overall, USD/CAD traded with a low of 1.0791 and with a high of 1.0936. Today, The Canadian GDP will be released and is expected to rise by 0.2% versus a contraction of −0.5% prior.
[ Full Story ]Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 31 | 09:00 | Consumer Price Index (YoY) | -0.2% | -0.4% | -0.7% |
Top Fundamental Stories - Euro Zone CPI Flash Estimate Beats Expectations by ecPulse.com
Since the effect of the recession is easing its claws on the euro zone; today, we saw that consumer prices estimates also halted their decline, which supported Chairman of the ECB Jean−Claude Trichet, as he stated that deflationary risks will only be temporary, as the euro zone steps out of its worst recession since World War II.
[ Full Story ]- Read the CPI data at Eurostat
- European markets trim losses after CPI data; Euro picks up (FXstreet.com)
- Eurozone CPI Estimate, 0.2% down in August; Euro recovery, halted (FXstreet.com)
- DATA SNAP: Euro−Zone Aug CPI Estimate −0.2% Vs Jul −0.7% (Dow Jones)
Top Fundamental Stories - Europe Ahead: The Low Inflation Rate in the Euro Zone is Expected to Incline in August by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 31 | 00:00 | UK | Late Summer Holiday | |||
| 01:30 | AU | Company Gross Operating Profits (QoQ) | -7.8% | -4.4% | ||
| 03:00 | NZ | Business Confidence | 34.2 | 18.7 | ||
| 05:00 | JP | Housing Starts (YoY) | -32.1% | -30.3% | -32.4% | |
| n/a | AU | HIA New Home Sales (MoM) (Jul) | 0.1% | 0.5% | ||
| 09:00 | EMU | Consumer Price Index (YoY)  | -0.2% | -0.4% | -0.7% | |
| 12:30 | CA | Gross Domestic Product (MoM) | 0.2% | -0.5% | ||
| 12:30 | CA | Gross Domestic Product Annualized (QoQ) (2Q) | -3.0% | -5.4% | ||
| 13:45 | US | Chicago Purchasing Managers' Index | 47.4 | 43.4 | ||
| Sep 1 | 01:30 | AU | Building Permits (MoM) | 3.3% | 9.3% | |
Educational Resources
Why the Astute Market Speculator Loves Social Media
Going to Social Media for trading education is most often a path filled with traps that really speed up the account transfer from those who don't know what they are doing, into the accounts of those who do. Read whole Sam Seiden's article!
Other articles of this week's Lessons from the Pros
What to Do If a Breakout Fails - Article by Steve Misic
The Statistical Recovery, Part Three - Article by John Mauldin
A Married Put - Article by Online Trading Academy Team
Common Market Misconceptions Explained and Clarified - Article by Gabe Velázquez