Tuesday, Oct 06, 11:28 GMT
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Forex Blogs
Francesc's Weblog: 2010 The 10th Anniversary of FXstreet.com… Brainstorm with us! by Francesc Riverola
Hi everyone, I am happy to inform you that next year FXstreet.com will celebrate its 10th anniversary. 10 YEARS ALREADY!! It will be an excellent opportunity of doing something really special on the website to celebrate it with all the users that helped us to leave infancy and to approach to teenager's age.
Tech Trading: USD/CAD Testing support again by César B. Leiceaga
The Trader's Edge: EUR/GBP Outlook by Ross Yamashita
Sponsored by 
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Oct 6, 14:00 GMT
Type of Session: Webinar
Drilling down, Support and Resistance
Expert: Triffany Hammond
Start: Tue, Oct 6, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Oct 6, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN |  |
| Tue, Oct 6, 16:00 GMT | Drilling down, Support and Resistance | Triffany Hammond | WBN | |
| Tue, Oct 6, 19:00 GMT | Trading Profitably Intraday | Lea Peters | WBN | |
| Tue, Oct 6, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
Current Session: Europe − U.S.
Clear break below 1.5901 will initiate a massive sell−off for 1.5766
www.deltastock.com − Yesterday's low at 1.5901 was a turning point in the second part of the rise from 1.5803, so a clear break below 1.5901 is to be expected and it will initiate a massive sell−off for 1.5766, en route to 1.5352. The intraday bias is already negative with the recent break below 1.5961, so expect current rebound above 1.5937 to be corrective in nature and to give an entry point for the next leg downwards, to 1.5834.
EUR/USD
The bullish trend continues with plenty of steam by ForexYard
The bullish trend continues with plenty of steam as the pair now trades around 1.4700. The Slow Stochastic of the hourlies indicates that there is still more room to run.
USD/JPY
On potential dollar gains, look for resistance into the 89.50/65 region by InnerFX
On potential dollar gains, look for resistance into the 89.50/65 region then above, at 90. A minor support is formed by an upward trend line around 88.75
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
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
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 08:30 | Industrial Production (YoY) | -11.2% | -8.8% | -9.9% |
| Oct 6 | 08:30 | Manufacturing Production (YoY) | -11.3% | -9.3% | -10.1% |
| Oct 6 | 08:30 | Industrial Production (MoM) | -2.5% | 0.1% | 0.4% |
| Oct 6 | 08:30 | Manufacturing Production (MoM) | -1.9% | 0.3% | 0.9% |
- DATA SNAP: UK Mfg Output Slumps Unexpectedly In August (Dow Jones)
- Forex: GBP/USD: Pound plunges below 1.6000 on weak industrial production (FXstreet.com)
- UK Industrial Production YoY declines by 11.2% in Aug, Manufacturing by 11.3% (FXstreet.com)
Top Fundamental Stories - United Kingdom Industrial and Manufacturing Production Plummet by ecPulse.com
Top Fundamental Stories - Europe Ahead: House Prices Slightly Retreat, While Manufacturing and Industrial Production Show Decline by ecPulse.com
UK HALIFAX HOUSE PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 08:00 | Halifax House Prices (MoM) | 1.6% | 1.0% | 0.8% |
| Oct 6 | 08:00 | Halifax House Prices (YoY) | -7.4% | -7.7% | -10.1% |
UK Halifax House Prices increase 1.6% MoM in Sep, −7.4% YoY (FXstreet.com)
[ Full Story ]- DATA SNAP: UK Halifax House Prices Rise Again In September (Dow Jones)
- Forex: GBP/USD: Pound stretches to 1.6048 session high on housing prices (FXstreet.com)
Top Fundamental Stories - Europe Ahead: House Prices Slightly Retreat, While Manufacturing and Industrial Production Show Decline by ecPulse.com
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 03:30 | RBA Interest Rate Decision | 3.25% | 3.00% | 3.00% |
Top Fundamental Stories - The RBA decided to raise interest rates by 25 basis points by ecPulse.com
The Reserve Bank of Australia decided to raise interest rates by 25 basis points to reach 3.25% after it was kept at the low record of 3.00% for six months which was the lowest record in almost half century.
[ Full Story ]- Read the Rate data at RBA
- Asian Shares End Up; RBA First G−20 Ctrl Bank To Hike Rates (Dow Jones)
- RBA decides to raise rates by 0.25% (Forex Live)
- AUDUSD falls ahead of RBA decision (Forex Live)
The Dollar Again Under Pressure As Australia Raise Rates by ACM − Advanced Currency Markets
Asia Market Update - RBA surprises with 25bp hike while Aussie trade balance disappoints by TradeTheNews.com
Daily World Market Update - Aussie Rises on RBA Tightening by World First UK Ltd
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 6 | 08:00 | UK | Halifax House Prices (MoM) (Sep) | 1.6% | 1.0% | 0.8% |
| 08:00 | UK | Halifax House Prices (YoY) (Sep) | -7.4% | -7.7% | -10.1% | |
| 08:30 | UK | Industrial Production (MoM) (Aug) | -2.5% | 0.1% | 0.4% | |
| 08:30 | UK | Industrial Production (YoY) (Aug) | -11.2% | -8.8% | -9.9% | |
| 08:30 | UK | Manufacturing Production (MoM) (Aug) | -1.9% | 0.3% | 0.9% | |
| 08:30 | UK | Manufacturing Production (YoY) (Aug) | -11.3% | -9.3% | -10.1% | |
| 12:30 | CA | Building Permits (MoM) (Aug) | 2.3% | -11.4% | ||
| 14:00 | CA | Ivey Purchasing Managers Index (Sep) | 56.9 | 55.7 | ||
| 20:30 | US | API Crude Oil Inventories (Oct 2) | 2757K | |||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Oct 4) | -46 | |||
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