Wednesday, Nov 04, 12:13 GMT
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Forex Blogs
Tech Trading: USD/CAD At 38,20% Fib support by César B. Leiceaga
The USD rally is consolidating its gains and the retracement was expected. In this particular pair, the dollar is testing a significant support at 1,0616 (38,20% Fib from the whole bull leg 1,0205 − 1,0867) and 200 SMA on the 4 hour chart.
The Advisor Weblog: Starting another golden day by Valeria Bednarik
FX Market Readings: Contrarian upward stop hunt is seen by Dr. S. Sivaraman
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Live Sessions Schedule
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Nov 4, 15:00 GMT
Type of Session: Webinar
Live Coverage of FOMC US Interest Rate Announcement
Expert: Jerry Furst
Start: Wed, Nov 4, 18:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Nov 4, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Nov 4, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Nov 4, 15:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
| Wed, Nov 4, 17:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
Euro is resuming its bullish trend
Financial Trend Analysis −EUR/USD formed a double bottom formation October 2008 −March 2009 and has since it's low in early of 2009 been trading in a strong bullish trend.
It took out the high in the double bottom formation at around 1.4720 to test the 76.4 Fibonacci correction level at around 1.5090. A minor correction that past week has occurred to test the bullish trend line but has been rejected and is now resuming it's bullish move.
GBP/USD
We expect corrections to find support around the 1.6500 mark by Swiss e Trade AG
The strong and quick upmove has brought the pound quickly into an overbought situation, which calls for corrections. Currently trading at 1.6540, we expect these corrections to find support around the 1.6500 mark.
AUD/USD
Long term view is bearish with this move up being a correction by Turtle Futures
1HR chart: We had divergence to buy which was first confirmed by the engulfing green candle at Y. We then had the MACD cross at X. We have now broken the trend line at 0.9060 (out of the triangle formation to the upside).
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com , Deltastock , Financial Trend Analysis , KBC , Mizuho
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Event of the Day
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 4 | 19:15 | Fed Interest Rate Decision | - | 0.25% | 0.25% |
US economic indicators - The FOMC is expected to leave the fed funds rate at 0–0.25% at its November meeting by BHF−Bank
The FOMC is expected to leave the fed funds rate at 0–0.25% at its November meeting. According to a Taylor rule estimate based on the unemployment rate and the PCE core deflator, the fed funds rate should be negative by now...
[ Full Story ]- European markets advance ahead of FOMC; Euro and Pound, on recovery (FXstreet.com)
- Asian Bourses mixed ahead of FED meeting (Forex Live)
- Asian Shares Mixed; Trade Subdued Before FOMC Results (Dow Jones)
The Currency Futures Report - Most analysts expect the FED to keep interest rate hikes on hold through mid−2010 by Alaron
Sunrise Market Commentary - No change in interest rates is expected by KBC Bank
Event of the Week
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 5 | 12:45 | ECB Interest Rate Decision | - | 1% | 1% |
EMU economic indicators - ECB council: no policy change by BHF−Bank
As far as next week's ECB council meeting is concerned, however, we are expecting the policy stance to be left unchanged. The central bank will probably restrict itself to gradually becoming more upbeat in its assessment of the macroeconomic situation and gently hinting that exit will be necessary "at some point".
[ Full Story ]BOE and ECB: Preview of Thursday's meetings by Easy Forex
Euro Thoughts - No major surprises are expected on the November ECB meeting by UniCredit Group
Top Fundamental Stories - Analysts expect the rate to remain unchanged by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 4 | 08:55 | DE | Purchasing Manager Index Services (Oct) | 50.7 | 50.9 | 52.1 |
| 09:00 | EMU | Purchasing Manager Index Services (Oct) | 52.6 | 52.3 | 50.9 | |
| 09:30 | UK | Purchasing Manager Index Services (Oct) | 56.9 | 55.5 | 55.3 | |
| 10:00 | EMU | Producer Price Index (YoY) (Sep) | -7.7% | -7.7% | -7.5% | |
| 10:00 | EMU | Producer Price Index (MoM) (Sep) | -0.4% | -0.3% | 0.4% | |
| 12:00 | US | MBA Mortgage Applications (Oct 30) | 8.2% | -12.3% | ||
| 13:15 | US | ADP Employment Change (Oct) | -200K | -254K | ||
| 15:00 | US | ISM Non−Manufacturing (Oct) | 51.5 | 50.9 | ||
| 15:30 | US | EIA Crude Oil Stocks change | 0.8 | |||
| 19:15 | US | Fed Interest Rate Decision | 0.25% | 0.25% | ||