Newsletter 25/10/2007

[akforex]

ASIAN SESSION

A) CALENDAR

-(24/10/2007)
-GMT 23:50 JPN Corporate Service Price (y/y) (Sep) EST 1.0% PREVIOUS 1.0%

B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4340 114.85 2.0570
R2 1.4320 114.60 2.0535
R1 1.4290 114.35 2.0515
S1 1.4240 114.00 2.0480
S2 1.4210 113.80 2.0460
S3 1.4185 113.45 2.0440

C) WATCH
-Interest Rates

D) TRADING TIPS
One of the keys to survival in the forex market is to keep trading losses small and to exit a losing trade as quickly as possible. One of the greatest advantages of chart analysis is its ability to quickly alert the trader to the fact that he or she is on the wrong side of the market. The ability and willingness to quickly recognize
trading errors and to take defensive action immediately are qualities not to be taken lightly in the forex market.

[akforex]

EUROPEAN SESSION

A) CALENDAR

-GMT 08:00 GER IFO Business Climate (Oct) EST 103.8 PREVIOUS 104.2
-GMT 08:00 GER IFO Current Assessment (Oct) EST 109.4 PREVIOUS 109.9
-GMT 08:00 GER IFO Expectations (Oct) EST 98.3 PREVIOUS 98.7
Definition
The Ifo Business Climate Index is based on ca. 7,000 monthly survey responses of firms in manufacturing, construction, wholesaling and retailing. The firms are asked to give their assessments of the current business situation and their expectations for the next six months. They can characterise their situation as “good”, “satisfactorily” or “poor” and their business expectations for the next six months as “more favourable”, “unchanged” or “more unfavourable”. The balance value of the current business situation is the difference of the percentages of the responses “good” and “poor”, the balance value of the expectations is the difference of the percentages of the responses “more favourable” and “more unfavourable”. The business climate is a transformed mean of the balances of the business situation and the expectations. For calculating the index values the transformed balances are all normalized to the average of the year 2000.

B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4340 114.85 2.0570
R2 1.4320 114.60 2.0535
R1 1.4290 114.35 2.0515
S1 1.4240 114.00 2.0440
S2 1.4210 113.80 2.0410
S3 1.4185 113.45 2.0385

C) WATCH
-Interest Rates
-GMT 08:00 GER IFO

D) TRADING TIPS
One of the keys to survival in the forex market is to keep trading losses small and to exit a losing trade as quickly as possible. One of the greatest advantages of chart analysis is its ability to quickly alert the trader to the fact that he or she is on the wrong side of the market. The ability and willingness to quickly recognize
trading errors and to take defensive action immediately are qualities not to be taken lightly in the forex market.

[akforex]

US SESSION

A) CALENDAR

-GMT 12:30 USA Durable Goods (m/m), (Sep) EST 1.5% PREVIOUS -4.9%
-GMT 12:30 USA ex Transportati (m/m), (Sep) EST 0.7% PREVIOUS -1.8%
Definition
Durable goods orders consist of products with a life span of more than three years. Examples of durable goods are autos,appliances, furniture, jewelry and toys.
This data is fairly important to foreign exchange markets because it gives a good indication of consumer confidence. Because durable goods cost more than
nondurables, a high number in this indicator shows consumer’s propensity to spend. Therefore , a good figure is generally bullish for the domestic currency.

-GMT 12:30 USA Initial Claims EST 320k PREVIOUS 337k
Definition
New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility.

-GMT 13:00 USA Fed's Consumer Advisory Council to Discuss Mortgage Rules

-GMT 14:00 USA New Home Sales (Sep) EST 775k PREVIOUS 795k
-GMT 14:00 USA New Home Sales (m/m),(Sep) EST -2.5% PREVIOUS -8.3%
Definition
The New Home Sales report shows the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends, and economic momentum signaling consumer purchases of furniture and appliances. Simply, the volume of sales indicates housing demand. Also, the monthly supply of homes serves as an input into the level of housing pressure.
However, when analyzing sales trends, one must remember to take into account unusual weather and seasonal effects.

B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4350 114.85 2.0570
R2 1.4330 114.60 2.0535
R1 1.4290 114.40 2.0515
S1 1.4240 113.85 2.0440
S2 1.4210 113.70 2.0410
S3 1.4185 113.45 2.0385

C) WATCH
-Interest Rates
-GMT 12:30 USA Durable Goods
-GMT 13:00 USA Fed's Consumer Advisory Council to Discuss Mortgage Rules
-GMT 14:00 USA New Home Sales

D) TRADING TIPS
One of the keys to survival in the forex market is to keep trading losses small and to exit a losing trade as quickly as possible. One of the greatest advantages of chart analysis is its ability to quickly alert the trader to the fact that he or she is on the wrong side of the market. The ability and willingness to quickly recognize
trading errors and to take defensive action immediately are qualities not to be taken lightly in the forex market.