ASIAN SESSION
A) CALENDAR
-18/10/2007
-GMT 23:50 JPN All-Industries Index (m/m), (Aug) EST 1.1% PREVIOUS -0.4%
-GMT 23:50 JPN All-Industries Index (y/y), (Aug) EST 2.0% PREVIOUS 1.2%
Definition
The all-industries index adds data from the primary sector – composed of fishing, farming, forestry and mining – and from the secondary, or manufacturing sector, to data for the tertiary sector.
-19/10/2007
-GMT 06:00 GER PPI (m/m), (Sep) EST 0.4% PREVIOUS 0.1%
-GMT 06:00 GER PPI (y/y), (Sep) EST 1.8% PREVIOUS 1.0%
Definition
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.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4355 116.45 2.0530
R2 1.4335 116.25 2.0510
R1 1.4310 115.85 2.0470
S1 1.4265 115.25 2.0410
S2 1.4245 115.00 2.0380
S3 1.4220 114.70 2.0355
C) WATCH
-Interest Rates
- (18/10/2007) GMT 23:50 JPN All-Industries Index
D) TRADING TIPS
The principle of confirmation is one of the common themes running throughout the entire subject of market analysis, and is used in conjunction with its counterpart- divergence.
Confirmation refers to the comparison of all technical signals and indicators to ensure that most of those indicators are pointing in the same direction and are confirming one another.
Divergence is the opposite of confirmation and refers to a situation where different technical indicators fail to confirm one another. While it is being used here in negative sense , divergence is a valuable concept in market analysis, and one of the best early warning signals of impending trend reversals.
EUROPEAN SESSION
A) CALENDAR
-G7 Meeting
-GMT 08:30 UK GDP (q/q), (3Q) EST 0.7% PREVIOUS 0.8%
-GMT 08:30 UK GDP (y/y), (3Q) EST 3.1% PREVIOUS 3.1%
Definition
Gross Domestic Product (GDP) is the total value of final goods and services produced within a country’s borders in a year. It is one of the measures of national income and output. It may be used as one indicator of the standard of living in a country, but there may be limitations with this view.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4380 116.25 2.0575
R2 1.4355 115.85 2.0535
R1 1.4335 115.40 2.0510
S1 1.4265 114.85 2.0470
S2 1.4245 114.70 2.0445
S3 1.4220 114.45 2.0410
C) WATCH
-Interest Rates
-G7 Meeting
-GMT 08:30 UK GDP
D) TRADING TIPS
The principle of confirmation is one of the common themes running throughout the entire subject of market analysis, and is used in conjunction with its counterpart- divergence.
Confirmation refers to the comparison of all technical signals and indicators to ensure that most of those indicators are pointing in the same direction and are confirming one another.
Divergence is the opposite of confirmation and refers to a situation where different technical indicators fail to confirm one another. While it is being used here in negative sense , divergence is a valuable concept in market analysis, and one of the best early warning signals of impending trend reversals.
US SESSION
A) CALENDAR
-G7 Meeting
-GMT 14:00 USA Bernanke, Poole Speak at St. Louis Fed Economic Conference
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4380 116.45 2.0575
R2 1.4335 116.25 2.0535
R1 1.4315 115.85 2.0510
S1 1.4265 114.85 2.0445
S2 1.4220 114.70 2.0405
S3 1.4195 114.45 2.0380
C) WATCH
-Interest Rates
-G7 Meeting
-GMT 14:00 USA Bernanke, Poole Speak at St. Louis Fed Economic Conference
D) TRADING TIPS
The principle of confirmation is one of the common themes running throughout the entire subject of market analysis, and is used in conjunction with its counterpart- divergence.
Confirmation refers to the comparison of all technical signals and indicators to ensure that most of those indicators are pointing in the same direction and are confirming one another.
Divergence is the opposite of confirmation and refers to a situation where different technical indicators fail to confirm one another. While it is being used here in negative sense , divergence is a valuable concept in market analysis, and one of the best early warning signals of impending trend reversals.