EUROPEAN SESSION
A) CALENDAR
-GMT 08:55 GER Manuf. PMI (Oct) EST PREVIOUS 54.9
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.
-GMT 09:30 UK Manuf. PMI (Oct) EST PREVIOUS 55.1
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4555 115.90 2.0920
R2 1.4520 115.75 2.0885
R1 1.4500 115.60 2.0855
S1 1.4435 115.15 2.0760
S2 1.4415 115.00 2.0730
S3 1.4380 114.80 2.0700
C) WATCH
-Interest Rates
-GMT 09:30 UK Manuf. PMI
D) TRADING TIPS
Long range price charts provide a perspective on the market trend that is impossible to achieve with the use of daily charts alone. One of the greatest advantages of chart analysis is the application of its principles to virtually any time dimension, including long range forecasting. Anyone who is not consulting these longer range charts is missing an enormous amount of valuable price information.
|
Linear Mode
