Monday, Oct 05, 11:17 GMT
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Forex Blogs
Trading for a living: I love mondays (again…) by David Aranzabal
Today we had a very common pattern that repeats very often at the European opening. Usually on Mondays we get higher volatility, specially after G7 meetings Price was playing around at 60m resistance levels and tumbled all the way down till Asian support (again…).
Francesc's Weblog: 2,400 traders follow NFP live at FXstreet.com by Francesc Riverola
ForexHedge: EUR/CHF Hedge by Ron Schelling
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Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Oct 5, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Oct 5, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Oct 5, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Oct 5, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Mon, Oct 5, 19:00 GMT | Trading Around Your Day Job | Ryan O'Keefe | WBN |  |
| Mon, Oct 5, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
Current Session: Europe − U.S.
The pair has stopped its rally right on the new downtrend line around 1.4650
ACM − Advanced Currency Markets − The pair has stopped its rally right on the new downtrend line around 1.4650 and the bears will being doing their utmost to keep it below 1.4684. The pair is looking pretty overcooked on the 2 hourly stochastics up at these levels too so with little news on the horizon I would expect shorting between 1.4620 and 1.4660, some mild short covering around 1.4550 and real long interest at 1.4480.
GBP/USD
GBP/USD: Pound, rejected at 1.6000 again, approaches session low by FXstereet.com
Post PMI optimism has fuelled the Pound higher during European trading but the pair has been capped at 1.6005, several pips shy of 1.6025 resistance and the Sterling reversed to levels around 1.5930
AUD/USD
AUDUSD: Correction With Upside Bias by FXTechstrategy
AUDUSD strengthened for eight months in a roll the past month building on its medium term uptrend triggered in late April'09. With this uptrend coming on the back of a base forming.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com, Financial Trend Analysis
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Oct 5 | 14:00 | ISM Non−Manufacturing | 50.0 | 48.4 |
Friday Notes - ISM Non−Manufacturing: Mood continues to normalize by UniCredit Group
Sentiment among purchasing managers in non−manufacturing industries most likely continued to improve in September as the economy has started to recover from recession.
[ Full Story ]US economic indicators - ISM non−manufacturing index (Sep): reaching the growth threshold by BHF−Bank
The Week Ahead - Non−manufacturing ISM, IJC, TB and Wholesale Inventories by BBVA Bancomer
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 8 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% |
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 8 | 11:45 | ECB Interest Rate Decision | 1% | 1% |
EMU economic indicators - ECB council: No policy change by BHF−Bank
The ECB Council is holding its regular monthly meeting on Thursday. The interest rate decision will be announced at 13:45hrs, the press conference is scheduled for 14:30hrs. Over the last few weeks, policymakers have repeatedly stated that it is too early to withdraw stimulus and declare the crisis over.
[ Full Story ]Forex Trading Strategies - ECB, EuroZone politicians clearly fed up with Euro strength by Saxo Bank
US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 9 | 12:30 | Trade Balance | -$32.70B | -$31.96B |
US economic indicators - Trade balance (Aug): Rising slightly due to higher prices by BHF−Bank
Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 5 | 09:00 | Retail Sales (MoM) | -0.2% | -0.4% | -0.2% |
| Oct 5 | 09:00 | Retail Sales (YoY) | -2.6% | -2.4% | -1.8% |
- UPDATE: Euro−Zone Retail Sales Fall Again In August (Dow Jones)
- Euro Zone Retail Sales down 0.2% MoM and 2.6% YoY in Aug (FXstreet.com)
- DATA SNAP: Euro−Zone Retail Sales Fall In August (Dow Jones)
Top Fundamental Stories - Services Sector Day in Europe Brings Light onto Nations by ecPulse.com
Top Fundamental Stories - Europe Ahead: PMI Services in Euro Zone remain Unchanged, While Retail Sales Raise Concerns by ecPulse.com
UK PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 5 | 08:30 | Purchasing Manager Index Services | 55.3 | 54.6 | 54.1 |
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 5 | 07:55 | DE | Purchasing Manager Index Services (Sep) | 52.1 | 52.2 | 53.8 |
| 08:00 | EMU | Purchasing Manager Index Services (Sep) | 50.9 | 50.6 | 49.9 | |
| 08:30 | UK | Purchasing Manager Index Services (Sep) | 55.3 | 54.6 | 54.1 | |
| 08:30 | EMU | Sentix Investor Confidence (Oct) | -12.6 | -12.0 | -14.6 | |
| 09:00 | EMU | Retail Sales (MoM) (Aug) | -0.2% | -0.4% | -0.2% | |
| 09:00 | EMU | Retail Sales (YoY) (Aug) | -2.6% | -2.4% | -1.8% | |
| 14:00 | US | ISM Non−Manufacturing (Sep) | 50.0 | 48.4 | ||
| 22:00 | NZ | NZIER Business Confidence (3Q) | -25 | |||
| Oct 6 | 00:30 | AU | Trade Balance (Aug) | -910M | -1156M | |
| 03:30 | AU | RBA Interest Rate Decision | 3% | 3% | ||
Educational Resources
Methods of Forecasting the Behavior of the Forex Market
Trying to predict market activity is a complex exercise. Franco Shao looks at the different strategies for predicting market activity – Technical analysis and Fundamental analysis. Read the article!
Other articles from Forex Journal
Choosing an Online Account Type for Forex Trading by Michael Hiller
Top ten tips for forex success - Read first part of the Jade Gate's article