Wednesday, Oct 21, 11:22 GMT
U.S. Trading Newsletter
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To Get Started
- Video Interview with Ashraf Laidi: Levels for the EUR/USD and GBP crosses for 4Q/2009
- Do you know it all about FX? Test yourself! Learning Center Practice A is out!
- Rates&Charts Section: Get the most updated data on FX, commodities, Indices... Go Now!
- WEBINAR VIDEOS: Back to Basics - Moving Averages by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a living: Endless opportunities at the European Opening by David Aranzabal
Again another day with long runs and very clear patterns. The more I trade the european opening, the more I like it. 20 minutes before the Frankfurt Opening we got a double top, I entered without confirmation as by my experience I's a time of the day where we can find sometimes the best price for the opening. The run was long enough for my daily target.
FX Market Readings: Further drop in EURO/GBP by Dr. S. Sivaraman
Francesc's Weblog: FX Solutions: Reduction in Leverage to Adjust to New NFA Requirements by Francesc Riverola
Tech Tradig: EUR/USD Tested key level by César B. Leiceaga
Sponsored by 
Live Sessions Schedule
An introduction to Price Behaviour: Part 3
Expert: Mike Baghdady
Start: Wed, Oct 21, 15:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Oct 21, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 21, 11:00 GMT | Trading the Harmonic patterns  | Sunil Mangwani | WBN |  |
| Wed, Oct 21, 15:00 GMT | An introduction to Price Behaviour: Part 3 | Mike Baghdady | WBN |  |
| Wed, Oct 21, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Oct 22, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
Current Session: Europe − U.S.
We have broken out of the corrective channel after the ABC correction
Turtle Futures − We also broke the MACD trend line to signal the move higher. Next previous high is at 1.6755 (then 1.7045). 4HR: We have broken out of the sideways up channel and are heading higher. A possible projection for this move is 1.7010.
EUR/USD
Took out 1.4850 key resistance last week and 1.50 is next by Avantage Financial GMBH
Took out 1.4850 key resistance last week and 1.50 is next up as long as 1.4830 support holds. Option barriers have held the rate below 1.50 so far, but we expect to see a break above 1.50 near term.
USD/CAD
Dollar versus Loonie pair surged yesterday by ecPulse.com
The Dollar versus Loonie pair surged yesterday, after the interest rate decision to support the bullish technical pattern, which took the pair near the key resistance at 1.0565.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com , Financial Trend Analysis , KBC , Mizuho
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers
US FED'S BEIGE BOOK
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 18:00 | Fed's Beige Book | - | - | - |
Friday Notes - Beige Book to confirm stabilization of economy by UniCredit Group
[ Full Story ]Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 08:00 | IFO − Business Climate | - | 92.1 | 91.3 |
US EXISTING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 14:00 | Existing Home Sales (MoM) | - | 5.0% | -2.7% |
| Oct 23 | 14:00 | Existing Home Sales | - | 5.35M | 5.10M |
Friday Notes - Existing Home Sales: Rebound in home sales continues by UniCredit Group
Existing home sales have rebounded from the all−time low reached in January. Despite their 23⁄4% decline in August, they are still up an annualized 361⁄4% during the last six months.
[ Full Story ]Top Market Movers
UK CBI INDUSTRIAL TRENDS SURVEY − ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 10:00 | CBI Industrial Trends Survey − Orders (MoM) | -51 | -45 | -48 |
- UK CBI Industrial Trends Survey down to −51 from −48 (FXstreet.com)
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 21 | 08:30 | Bank of England Minutes | - | - | - |
2nd UPDATE: Pound Up As BOE Shows No Asset−Purchase Split (Dow Jones)
[ Full Story ]- Read full minutes at BoE
- European markets, on a slight sell tone; Pound soars after BoE minutes (FXstreet.com)
- UPDATE: Pound Up As BOE Minutes Show No Asset−Purchase Split (Dow Jones)
- Pound Climbs After BOE Minutes Show No Asset−Purchase Split (Dow Jones)
Top Fundamental Stories - Europe Ahead: BoE Minutes reveal unanimous vote on rates and APF by ecPulse.com
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 20 | 13:00 | BoC Interest Rate Decision | 0.25% | 0.25% | 0.25% |
BOC Keeps Rate At 0.25%,On Hold To 2Q 2010,Warns Of Strong C$ (Dow Jones)
[ Full Story ]- Read the official statement at BoC
- Canada Afternoon: C$ Plummets On Dovish BOC Rate Statement (Dow Jones)
- UPDATE: BOC Keeps Rate At 0.25%,On Hold To 2Q 2010,Warns Of Strong C$ (Dow Jones)
- Forex: USD/CAD: Dollar soars to 1.0400 area after BoC rate statement (FXstreet.com)
Top Fundamental Stories - BOC Leaves Rates Unchanged and Signals Recovery is Undergoing by ecPulse.com
The Currency Futures Report - Will Canada Raise Rates? by Alaron
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 21 | 00:30 | AU | New Motor Vehicle Sales (MoM) (Sep) | 2.9% | 0.1% |
|
| 00:30 | AU | New Motor Vehicle Sales (YoY) (Sep) | -2.0% | -6.2% | ||
| 02:00 | NZ | Credit Card Spending (Sep) | -2.3% | 0.1% |
||
| 08:30 | UK | Bank of England Minutes | ||||
| 10:00 | UK | CBI Industrial Trends Survey − Orders (MoM) | -51 | -45 | -48 | |
| 11:00 | US | MBA Mortgage Applications (Oct 16) | -13.7% | -1.8% | ||
| 14:30 | US | EIA Crude Oil Stocks change | 0.9M | 0.4M | ||
| 18:00 | US | Fed's Beige Book | ||||
| 23:50 | JP | Adjusted Merchandise Trade Balance (Sep) | ¥375.0B | ¥235.4B | ||
| 23:50 | JP | Merchandise Trade Balance Total (Sep) | ¥625.3B | ¥185.7B | ||
Educational Resources
Basics of Conventional Loans and What Do Fannie and Freddie Have to Do With It
Understanding how loans work specifically related to real estate is very important whether you're purchasing a home, investing directly in real estate, or trading mortgage backed securities (MBS). So this week, Diana Hill ll outline the basics of conventional financing and Fannie and Freddie. Read Diana Hill's article !
From Lessons from the Pros as well:
Like Minds, Individual Approach by Sam Evans
Vertical Spreads: Part I by Josip Causic
Important Resources for Futures Traders by Sam Seiden