Newsletter European Session 14/11/2007

A) CALENDAR

-GMT 09:30 UK Av. Earnings inc bonus (3Mo/Yr), (Jun) EST 4.0% PREVIOUS 3.7%
Definition
The Average Earnings Index (AEI) measures the average wage, including bonuses, paid to employees.

- GMT 09:30 UK Average Earnings ex bonus (3Mo/Yr), (Jun) EST 3.8% PREVIOUS 3.7%
Definition
The Average Earnings Index (AEE) measures the average wage, paid to employees

-GMT 09:30 UK Claimant count Rate (Jul) EST 2.6% PREVIOUS 2.6%
Definition
The Claimant Count measures the change in number of people claiming unemployment related benefits over the previous month.

-GMT 09:30 UK ILO Unemployment Rate (3Mo),(Jun) EST 5.4% PREVIOUS 5.4%
Definition
The percentage of the people classified as unemployed as compared to the total labor force.

-GMT 10:00 EU GDP flash (q/q), (3Q) EST 0.6% PREVIOUS 0.3%
-GMT 10:00 EU GDP flash (y/y), (3Q) EST 2.6% REVIOUS 2.5%
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.

-GMT 10:30 UK Bank of England Quarterly Inflation Report


B) SUPPORT-RESISTANCE
EURO/USD   USD/JPY   GBP/USD
R3 1.4750      112.10         2.0900
R2 1.4730      111.80         2.0850
R1 1.4695      111.50         2.0800
S1 1.4625      110.85         2.0745
S2 1.4600      110.60         2.0700
S3 1.4585      110.35         2.0660

C) WATCH
-Interest Rates
-GMT 09:30 UK Employment Report
-GMT 10:30 UK Bank of England Quarterly Inflation Report



D) TRADING TIPS
CANDLESTICKS REVERSAL PATTERNS
Dark Cloud Cover: This is a two day reversal pattern that only has bearish implications. This is also one of the times when the pattern\'s counterpart exists but has a different name. The first day of this pattern is a long white candlestick. This reflects the current trend of the market and helps confirm the uptrend to traders. The next day opens above the high price of the previous day, again
adding to the bullishness. However, trading for the rest of the day is lower with a close price at least below the midpoint of the body of the first day. This is a significant blow to the bullish mentality and will force many to exit the market. Since the close price is below the open price on the second day, the body is black. This is the dark cloud referred to in the name.