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U.S. Trading Newsletter
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International Traders Conference
LAST SEATS AVAILABLE!
Don't miss the third edition of FXstreet.com's International Traders Conference (ITC) on October 14-16, 2009 in Barcelona. Live Trading next to the experts.
This year's key speakers panel: Valeria Bednarik, Rob Booker, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.
Limited to 60 seats! Register now!
To Get Started
- Use our brand new performance table! See ranges for main pairs in % or pips from 5 min to YTD. Go Now!
- WEBINAR VIDEOS: London Session Scenarios on GBPUSD & GBPJPY by Mihai Marinescu
- All the events of the day in our Economic Calendar
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Forex Blogs
Tech Trading: Cable breaking down by César B. Leiceaga
Pound crosses breaking down GBP/JPY pushing through previous low testing support at 147,00, towards 200 SMA on Daily chart at 145,90 − 146,00 zone. Needs a close below 146,60's to confirm double top. Note RSI daily conditions in oversold conditions.
FX Market Readings: Extended upward stop hunt in EURO/GBP by Dr. S. Sivarama
Francesc's Weblog: http://m.fxstreet.com Forex Mobile Touches New Highs by Francesc Riverola
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Live Sessions Schedule
Quad−CCI Volatility Trading and Trend Identification Explained
Expert: Mark Whistler
Start: Thu, Sep 24, 16:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Sep 24, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Sep 24, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Sep 24, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Thu, Sep 24, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
| Thu, Sep 24, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe − U.S.
Neckline of internal shoulders sits at 1.6078
ACM − Advanced Currency Markets −We said on Tuesday that any move to 1.6435 would provide a great short entry and we have been fortunate enough to see the pair reach that level before contiuning its move through the head and shoulders formation, dropping this morning to sub 1.6200. The neckline of the internal shoulders sits at 1.6078 and a break there will likely send the pair spiralling to the major neckline at 1.5947.
EUR/GBP
We broke the sideways channel this morning to the upside by FXstreet.com
I think we may pull lower from here in an ABC formation but the BIG PICTURE is definitely bullish for EURGBP with the next long term target at .9506
CRUDE OIL
Crude oil's fall from 73.16 resumes and is now back pressing 68.02 support by Oil N' Gold
Crude oil's fall from 73.16 resumes and is now back pressing 68.02 support. Break of 68.02 will suggests that fall from 75.0 is resuming and affirm that case that crude oil has already topped out.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Sep 24 | 14:00 | Existing Home Sales | 5.35M | 5.24M |
US G20 MEETING
| Date (GMT) | Event | Cons. | Previous | |
| Sep 25 | 00:00 | G20 Meeting | - | - |
Daily FX Market Commentary - G20 meeting in Pittsburgh this week by Danske Bank A/S
World Bank president Robert Zoellick urges leaders of the G−20 at the Pittsburgh−meeting held this week (see home page) to set "an ambitious agenda for responsible globalisation.
[ Full Story ]- France's Sarkozy: Must Find An Agreement On Bonuses At G−20 (Dow Jones)
- Asian market mixed, caution dominates ahead of Fed, G−20; Euro and Yen bounce up (FXstreet.com)
US DURABLE GOODS ORDERS
| Date (GMT) | Event | Cons. | Previous | |
| Sep 25 | 12:30 | Durable Goods Orders ex Transportation | 0.8% | 0.8% |
| Sep 25 | 12:30 | Durable Goods Orders | 0.3% | 4.9% |
Top Market Movers Review
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 08:00 | IFO − Expectations | 95.7 | 96.6 | 95.0 |
| Sep 24 | 08:00 | IFO − Business Climate | 91.3 | 92.1 | 90.5 |
DATA SNAP: German Ifo Index Better In Sep, Short Of Forecast (Dow Jones)
German business confidence improved in September, signaling that the recession is nearing its end.
[ Full Story ]- Read Ifo Business Climate Index at CESifo Group
- 2nd UPDATE: German Ifo Seals 3Q Growth; Economists Cautious (Dow Jones)
- UPDATE: German Ifo Index Better In Sep, Short Of Forecast (Dow Jones)
- Forex: EUR/USD: Euro dips below 1.4750 on disappointing Ifo figures (FXstreet.com)
Top Fundamental Stories - Germany IFO Survey shows improvement in September, yet came below estimates by ecPulse.com
Japan ALL INDUSTRY ACTIVITY INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 24 | 04:30 | All Industry Activity Index (MoM) | 0.5% | 0.8% | 0.2% |
Japan METI July All Indus Activity Table Of Data (Dow Jones)
[ Full Story ]- Read the Industry data at METI
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 18:15 | Fed Interest Rate Decision | 0.25% | 0.25% | 0.25% |
FED leaves rates unchanged; Dollar plunges across the board (FXstreet.com)
[ Full Story ]- Read the official statement at the Fed
- CURRENCIES: Dollar Firms After Hitting Lows On Fed Decision (Dow Jones)
- WORLD FOREX: Dollar Manages To Gain Vs Euro After Fed Mtg (Dow Jones)
- Forex: Dollar recovers and rises above pre−FOMC levels (FXstreet.com)
Weekend Analysis - Fed Speaks Positively...Overbought Brings Market Down...Nasty Topping Candle... by SwingTradeOnline.com
U.S: FOMC keeps rates unchanged and sees sustainable economic recovery by National Bank of Canada
Daily FX Market Commentary - Fed leaves its target rate unchanged at 0−0.25% by Danske Bank A/S
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 24 | 00:00 | US | G20 Meeting | |||
| 01:00 | AU | HIA New Home Sales (MoM) (Aug) | 11.4% | 0.1% | ||
| 04:30 | JP | All Industry Activity Index (MoM) (Jul) | 0.5% | 0.8% | 0.2% |
|
| 08:00 | DE | IFO − Business Climate (Sep) | 91.3 | 92.1 | 90.5 | |
| 08:00 | DE | IFO − Expectations (Sep) | 95.7 | 96.6 | 95.0 | |
| 12:30 | US | Continuing Jobless Claims (Sep 12) | 6230K | |||
| 12:30 | US | Initial Jobless Claims (Sep 19) | 546K | 545K | ||
| 14:00 | US | Existing Home Sales (Aug) | 5.35M | 5.24M | ||
| 14:00 | US | Existing Home Sales (MoM) (Aug) | 2.1% | 7.2% | ||
| 23:30 | JP | Nomura/ JMMA Manufacturing Puchasing Manager Index (Sep) | 50.4 | |||
Educational Resources
The Federal Reserve and The FOMC Committee
The Fed is the Central Bank of the United States, setting Monetary Policy and broadly ensuring the stability and development of the US Financial System. Its mandate is the following: the setting of monetary policy; to ensure economic growth and currency stability; to regulate US Banking institutions and to maintain the macro−stability of the US financial system; and to provide financial Services to the US Government. Read whole article!
Related Resources
Learning Center - Interest Rates section in Chapter B02
Forex 30-day Trading Program Course - The Central Banks
How to Trade a News Breakout - Article from The Forex Journal