-GMT 07:30 EU ECB’s Hurley Speaks at Conference in Dublin
-GMT 08:00 EU ECB Council Member Liikanen Speaks in Helsinki
�GMT 08:30 UK Indus. prod. (m/m), (Aug) EST 0.3% PREVIOUS -0.1%
�GMT 08:30 UK Indus. prod. (y/y), (Aug) EST 0.9% PREVIOUS 0.9%
Industrial production consists of the total output of a nation�s plants, utilities, and mines. From a fundamental point of view, it is an important economic indicator that reflects the strength of the economy, and by extrapolation, the strength of a specific currency.
�GMT 08:30 UK Manuf. prod. (m/m), (Aug) EST 0.4% PREVIOUS -0.3%
�GMT 08:30 UK Manuf. prod. (y/y), (Aug) EST 0.5% PREVIOUS 0.8%
Manufacturing production is the indicator of production level in the manufacturing sector.
-GMT 08:30 UK PPI input s.a (m/m), (Sep) EST 1.5% PREVIOUS -0.5%
-GMT 08:30 UK PPI input n.s.a (y/y), (Sep) EST 4.3% PREVIOUS 0.6%
-GMT 08:30 UK PPI output n.s.a (m/m), (Sep) EST 0.2% PREVIOUS 0.1%
-GMT 08:30 UK PPI output n.s.a (y/y), (Sep) EST 2.8% PREVIOUS 2.5%
-GMT 08:30 UK PPI output core s.a (m/m), (Sep) EST 0.2% PREVIOUS 0.2%
-GMT 08:30 UK PPI output core n.s.a (y/y), (Sep) EST 2.0% PREVIOUS 2.4%
The PPI gauges the average changes in prices received by domestic producers for their output at all stages of processing. The PPI data is compiled from most sectors of the economy, such as manufacturing, mining and agriculture.
-GMT 10:00 GER Factory Orders (m/m), (Aug) EST 1.9% PREVIOUS -7.1%
-GMT 10:00 GER Factory Orders (y/y), (Aug) EST 4.1% PREVIOUS 9.8%
Factory orders refer to the total of durable and nondurable good orders.
EURO/USD USD/JPY GBP/USD
R3 1.4230 117.75 2.0490
R2 1.4180 117.55 2.0470
R1 1.4155 117.30 2.0440
S1 1.4105 116.80 2.0385
S2 1.4055 115.60 2.0370
S3 1.4030 115.40 2.0330
-GMT 08:30 UK Indus. Prod
-GMT 08:30 UK Manuf. prod.
-GMT 08:30 UK PPI
D) TRADING TIPS
Flags and Pennants
The more important points of both patterns:
- They are both preceded by an almost straight line move (called flagpole) on heavy <<trading noise>>.
- Both patterns occur at about the midpoint of the new market move.
- The pennant resembles a small horizontal symmetrical triangle.
- The flag resembles a small parallelogram that slopes against the prevailing trend.
- Both patterns take less time to develop in downtrends.