Thursday, Oct 29, 12:12 GMT
U.S. Trading Newsletter
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- EUR/USD to reach levels below 1.35 or above 1.75? Whatch the videos with the experts forecasts.
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- Real-Time Economic Calendar: New 2.0 Design with upgraded charts and sound notifications
- WEBINAR VIDEOS: Asian Session: Live Market Analysis by Dr.S.Sivaraman
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Forex Blogs
The Advisor Weblog: Gbp/Usd pushing higher by Valeria Bednarik
Gbp continues pushing higher, close to yesterday's high of 1.6453, also 23.6% of last Fibonacci rally. Above that level, pair likely approach to 1.6490 area ahead of key 1.6520. This level has been quite strong the past months, so pair should retreat from there. If broken pound will gain more upside momentum, and likely approach to the 1.6550/60 area.
Tech Trading: EUR/USD Decisive level by César B. Leiceaga
The Disciplined Trader: USD Index shows evidence of a larger turn by Pierre Charlebois
FX Market Readings: Either way stop hunt moves for a day by Dr. S. Sivaraman
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Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Thu, Oct 29, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Oct 29, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 29, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Thu, Oct 29, 13:00 GMT | Pip Movement Ranges for Better Trade Management  | Raghee Horner | WBN |  |
| Thu, Oct 29, 14:00 GMT | Forex Basics Series: Chapter 6 − Technical figures part II | Valeria Bednarik | WBN | |
| Thu, Oct 29, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
Current Session: Europe − U.S.
1.6484 should serve as resistance, with 1.6272 potential neckline of short term H&S
ACM − Advanced Currency Markets −GBP is still a fundamentally troubled currency and technically 1.6484 should serve as a primary resistance today with 1.6272 a potential neckline in a very short term head & shoulders. If this formation does pan out to be a H&S within the second shoulder of a longer term H&S then the moves will start to become extremely dramatic into the year end.
EUR/JPY
EUR/JPY: following Wall Street by FXstreet.com Independent Analyst Team
Correcting the oversold conditions, acceleration above 134.00 will drive the pair quickly higher to the 134.50 area, ahead of 134.80. Failure to break the 134.00 level, will put the pair under more selling pressure
EUR/USD
Yesterday's low at 1.4678 marked the end of the downtrend from 1.4841 by www.deltastock.com
Yesterday's low at 1.4678 marked the end of the downtrend from 1.4841, but the overall bias remains negative, so a brief test of 1.4766 resistance is to be expected, before final spike−low to 1.4636.
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
Event of the Day
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 29 | 12:30 | Gross Domestic Purchases Price Index | - | 1.2% | -1.4% |
| Oct 29 | 12:30 | Gross Domestic Product Annualized | - | 3.1% | -0.7% |
US: Big gain advance Q3 GDP expected by Easy Forex
US advance Q3 GDP will be released on Thursday October 29th. Q3 GDP is expected to rise by 3.2% compared to −0.7% last quarter.
[ Full Story ]- GLOBAL MARKETS: European Stocks Flat; US GDP Looms Large (Dow Jones)
- CURRENCIES: Dollar Edges Down As Investors Await U.S. GDP (Dow Jones)
Fundamental Currencies Comments - Majors gained ahead of the U.S GDP by ecPulse.com
GDP Observatory - US: Recovery will take hold in 3Q09 by BBVA Bancomer
Friday Notes - A strong third quarter by UniCredit Group
Event of the Week
US DURABLE GOODS ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 28 | 12:30 | Durable Goods Orders ex Transportation | 0.9% | 0.7% | -0.3% |
| Oct 28 | 12:30 | Durable Goods Orders | 1.0% | 1.5% | -2.6% |
US: Durable Goods Bounced Back in September by Wells Fargo Investments, LLC
Orders for durable goods at U.S. manufacturers regained some lost ground after last month's drop. Ex−transportation, orders were better than expected—business spending is showing signs of recovery.
[ Full Story ]- Read the Durable Goods Orders data at the Census Bureau
- DATA SNAP: Durable Goods Orders Up Below Expectations (Dow Jones)
- U.S. Durable Goods Orders increase less than expected; Dollar, steady (FXstreet.com)
- US Sep Durable Goods Orders increase 1% (FXstreet.com)
U.S.: Durable Goods Orders by BBVA Bancomer
Daily Global Commentary - Sales of New Homes Decline, but Inventories and Prices remain Favorable by Northern Trust
Top Fundamental Stories - Durable Goods Orders Rise in the United States, as the Recovery Continues by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 29 | 09:30 | UK | M4 Money Supply (YoY) (Sep) | 11.3% | 12.1% | |
| 09:30 | UK | Mortgage Approvals (Sep) | 56K | 54K | 53K |
|
| 09:30 | UK | Net Lending to Individuals (Sep) | £0.66B | £0.70B | £0.90B |
|
| 10:00 | EMU | Consumer Confidence (Oct) | -18 | -17 | -19 | |
| 10:00 | EMU | Economic Confidence (Oct) | 86.2 | 84.4 | 82.8 | |
| 10:00 | EMU | Industrial Confidence (Oct) | -21 | -22 | -24 | |
| 12:30 | US | Continuing Jobless Claims (Oct 17) | 5935K | 5923K | ||
| 12:30 | US | Gross Domestic Product Annualized (3Q) | 3.1% | -0.7% | ||
| 12:30 | CA | Industrial Product Price (MoM) (Sep) | 0.2% | 0.5% | ||
| 12:30 | US | Initial Jobless Claims (Oct 24) | 525K | 531K | ||
Educational Resources
Market Traps, Novice Traders Beware
This week we will look at two of Sam Seiden's favorite market opportunities − the Bull Trap and Bear Trap. It is important that you understand how to properly think this setup. Read Sam Seiden's article !
From Lessons from the Pros as well:
Start as You Mean to Go On by Sam Evans
Vertical Spreads: Part II by Josip Causic