Welcome to Forex-TSD!, one of the largest Forex forums worldwide, where you will be able to find the most complete and reliable Forex information imaginable.
From the list below, select the forum that you want to visit and register to post, as many times you want. Its absolutely free. Click here for registering on Forex-TSD.
Exclusive Forum
The Exclusive Forum is the only paid section. Once you subscribe, you will get free access to real cutting-edge Trading Systems (automated and not), Indicators, Signals, Articles, etc., that will help and guide you, in ways that you could only imagine, with your Forex trading.
Elite Section
Get access to private discussions, specialized support, indicators and trading systems reported every week.
Advanced Elite Section
For professional traders, trading system developers and any other member who may need to use and/or convert, the most cutting-edge exclusive indicators and trading systems for MT4 and MT5.
AU:
Monday: House Price Index QoQ (Previous 4.2%, Expected 3.0%) &YoY House Price Index (Previous -1.4%, Expected 4.3%).
Tuesday: RBA Decision about the interest rate on the Australian Dollar (Previous 3.25%%, Expected 3.50%).
Wednesday: Retail Sales (Previous 0.9%, Expected 0.5%).
Thursday: Trade Balance (Previous -1524 M, Expected -2150 M).
Forex trading analysis by Forexpros Written by Munther Marji
---
Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
UK traders await the release of the Nationwide Consumer Confidence report tomorrow (Oct 3rd).
The report is calculated from a survey of about 1,000 consumers, and measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict the consumer spending, which is a major part in the total economic activity.
A higher than expected reading should be taken as positive/bullish for the GBP since it points to consumer optimism, while a lower than expected reading should be taken as negative/bearish for the GBP.
Analysts forecast an increase on lasts months figure of 71.00 to 72.00.
---
Euro Dollar
The Euro broke the short-term resistance 1.4737, and reached the first target suggested for this break at 1.4827 successfully. The most important question for now is this: Is the current rise a corrective or impulsive move? We believe that the limit separating those two possibilities is 1.4916, which is Fibonacci 61.8% for the drop from 1.5061. And as long as the Euro stays below this resistance it is considered a corrective rise, while breaking it would announce more upside movement to come, probably to reach new highs above the last top 1.5061. The first resistance in front of us is 1.4872, and if it is broken we will head towards the important test of 1.4916, and if this one is broken we will target 1.4980 first, on the way to higher targets. Short-term support is provided by the rising trendline from Wednesday's low, currently at 1.4786, and if broken we will test 1.4702 again, and if this one is broken we will head towards 1.4649.
Support:
1.4786: the rising trendline from Wednesday's low on the intraday & hourly charts.
1.4702: Fibonacci 61.8% for the whole move from 1.4480.
1.4649: Oct 7th low.
Resistance:
1.4872: Fibonacci 50% for the drop 1.5061.
1.4916: Fibonacci 61.8% for the drop 1.5061.
1.4980: Oct 26th low.
---
USD/JPY
As we have expected in Friday's report, Dollar-Yen broke the support 90.75 and reached both suggested targets 90.16 & 89.61 successfully. This drop that started on Thursday and continued into the new week, was the result of stopping near Fibonacci 61.8% resistance at 9.52, and as you know, stopping near Fibonacci resistance levels is an evidence that the trend in down. But on the other hand, the abovementioned drop cashed in 250 pips approximately, which could create a correction from here. That is why we prefer to wait for a break of short-term support 89.61 or short-term resistance 90.23 before talking about the direction of the next move from here. If we break the support 89.61 the downtrend will continue, and will target 89.07 and the important 88.64. And if we break Thursday's low 90.23, we will be heading to a test of short-term Fibonacci 61.8% at 90.68, and only if it is broken, we will expect a retest of the broken channel at 91.28, which would be an important test if it happens.
Support:
89.61: previous support & Oct 12th low.
89.07: previous intraday support.
88.64: Oct 9th low.
Resistance:
90.23: Oct 29th low.
90.68: Fibonacci 61.8% for the short-term, important resistance.
91.28: the retest level of the broken channel.
---
Forex trading analysis by Forexpros Written by Munther Marji
---
Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Purchasing managers' index of manufacturing activity shows growth for the third straight month, indicating a 'sustainable recovery.'
NEW YORK (CNNMoney.com) -- A key index of U.S. manufacturing activity jumped in October, reaching its highest level in three and a-half years, a purchasing managers' group said Monday.
The Tempe, Ariz.-based Institute for Supply Management's (ISM) manufacturing index rose to a reading of 55.7 in October from 52.6 the month before. It was the highest reading since April 2006 when the index registered 56.
Economists were expecting a reading of 53, according to consensus estimates gathered by Briefing.com.
"This is another clear sign the recession is over, and the recovery has begun," said Adam York, an economist at Wells Fargo.
The monthly report is a national survey of ISM members, who are purchasing managers in the manufacturing field. Index readings above 50 indicate growth, while levels below 50 signal contraction. Readings below 41.2 are associated with a recession in the broader economy.
The index first showed growth in August after 18 months of contraction. It dipped slightly in September from the previous month, but has held above the level indicating growth for three months in a row.
"The jump in the index was driven by production and employment," said Norbert Ore, chair of the ISM's manufacturing business survey committee. "Overall, it appears that inventories are balanced and that manufacturing is in a sustainable recovery mode."
The employment index rose to 53.1, indicating growth for the first time in 14 months. The ISM says an employment index above 49.7 is "generally consistent" with an increase in government jobs data in the manufacturing sector.
Ore said the jump in manufacturing employment was due to "some callbacks and opportunities for temporary workers."
On Friday, the Labor Department is expected to report that employers cut payrolls by 175,000 jobs in October after a loss of 263,000 jobs in September, according to a consensus of economists surveyed by Briefing.com. The unemployment rate is expected to rise to 9.9% from 9.8%.
Production in the manufacturing sector rose for the fifth month in a row, led by strength in plastics and rubber products, furniture and apparel.
The gain in production came as the index of new orders for manufactured goods rose for the fourth consecutive month.
The ISM tracks new orders, production, employment, supplier deliveries, inventories, customers' inventories, the backlog of orders, prices, new export orders, imports and buying policies.
Of the 18 manufacturing sectors reporting, 13 posted growth -- including categories such as petroleum and coal products, apparel and transportation equipment. Sectors reporting contractions included metals, mineral products and wood products.
A government report showed last week that theU.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression.
The Federal Open Market Committee (FOMC) decision on short term interest rate is due out tomorrow (Nov 4).
The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency.
A higher than expected rate is positive/bullish for the USD, while a lower than expected rate is negative/bearish for the USD.
Analysts forecast no change, with the interest rate remaining at 0.25%.
---
Euro Dollar
In spite of the importance of the 1.4682 support that has stopped price twice exactly at the same price, we will not wait until it is broken to turn our outlook for the Euro to negative. We will set out most important support at Fibonacci 61.8% for the short-term 1.4744, because it is the last important support defending 1.4682, and if 1.4744 is broken, the odds of breaking 1.4682 on a third attempt will be big. The most important support for the short-term is 1.4809, provided by the falling trendline from 1.4926, and breaking it would give the Euro some strength that could be enough to test Fibonacci 50% at 1.4872. We will await a break of either of those levels before deciding on today's direction. If we break support at 1.4744, that will mean a continuation of falling on the short-term and targeting the important bottom 1.4649 and may be 1.4610 after that. But if we break the resistance 1.4809, today's direction would be up, and the suggested targets would be 1.4872 first, and may be 1.4916.
Support:
• 1.4744: Fibonacci 61.8% for the short-term.
• 1.4649: Oct 7th low.
• 1.4610: Sep 21st low.
Resistance:
• 1.4980: the falling trendline from 1.4926.
• 1.4872: Fibonacci 50% for the drop 1.5061.
• 1.4916: Fibonacci 61.8% for the drop 1.5061.
---
USD/JPY
Down to the pip, the Dollar-Yen stopped at Fibonacci resistance specified in yesterday's report 90.68 (yesterday's high is EXACTLY 90.68), and as you know, stopping near Fibonacci resistance levels is an evidence that the trend in down. That’s why we find ourselves favoring a continuation of the short-term downtrend as long as we are below 90.68. And we will await a break of short-term Fibonacci support 90.16, after the price literally "sat" on it for the past few hours. If we break this support the downtrend will continue, and will target 89.61 first, then 89.07 and may be the important 88.64. The price behavior for yesterday, and the amazingly accurate reversal at the Fibonacci resistance that we talked about (90.68),makes it the most important resistance, and only if it is broken, we will change our negative outlook for this pair. If this surprise happens, we will be heading to a test the upper limit of the short-term downtrend (the trendline drawn on the chart), which is currently at 90.95, and that would be an important test if it happens.
Support:
• 90.16: Fibonacci 61.8% for short-term.
• 89.61: previous support & Oct 12th low.
• 89.07: previous intraday support.
Resistance:
• 90.68: Fibonacci 61.8% for the short-term, important resistance.
• 90.95: the upper limit of the short-term downtrend and the trendline descending from last week tops.
• 91.60: Oct 29th high.
---
Forex trading analysis by Forexpros – Written by Munther Marji
---
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Last edited by forexpros2; 11-03-2009 at 11:02 AM.
Initial Jobless Claims to Be Published in the US Tomorrow
The Initial Jobless Claims is a measure of the number of people who file for unemployment benefits for the first time during the given week. This data is collected by the Department of Labor, and published as a weekly report.
The number of jobless claims is used as a measure of the health of the job market, as a series of increases indicates that there are fewer people being hired.
On a week-to-week basis, claims are quite volatile.
Usually, a move of at least 35K in claims, is required to signal a meaningful change in job growth.
A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.
Analysts forecast 520.00K, down from 530.00K.
---
Euro Dollar
The Euro broke short-term support 1.4744 and successfully reached the first suggested target 1.4649. But the point where yesterday's drop stopped, uncovered a very harmonized channel, and price has touched its lines a whole 7 times. Yesterday's low was exactly at the bottom of that channel, as the attached chart shows (hourly chart). We will monitor this channel to try and specify the direction, and we strongly believe that if this channel is broken to the downside, the medium-term price direction will be in a downtrend. The bottom of the channel is currently at 1.4649 which makes this level the most important support for the short-term. On the other hand, resistance congregate its power in one important area, where we find the falling trendline from 1.5061, the moving average SMA100, and Fibonacci 61.8% for the short-term at 1.4762 (calculated for the 5 waves dropping from 1.4843 to the orthodox bottom 1.4631 and not the price bottom 1.4625), which clearly makes this area the most important of all resistance levels. A break of the 1.4649 support will put the Euro under pressure and that would push it lower to 1.4559, then the important bottom 1.4480, and later to 1.4404. While a break of the resistance 1.4762 ill give the Euro a chance to catch a break and to correct upwards towards 1.4846 and may be 1.4897.
Support:
1.4649: the bottom of the coordinated channel on the hourly chart, and the most important support for medium-term.
1.4559: Fibonacci 38.2% for medium-term.
1.4480: Oct 2nd low.
Resistance:
1.4762: important resistance area combining Fibonacci 61.8% for the short-term, the moving average SMA100, and the falling trendline from 1.5061..
1.4846: Fibonacci 50% for the drop 1.5061.
1.4897: Fibonacci 61.8% for the drop 1.5061.
---
USD/JPY
After stopping on Monday, at Fibonacci resistance 90.68 down to the pip, Dollar-Yen stopped yesterday at the moving average SMA100, with the same kind of accuracy. And as you know, stopping near Fibonacci resistance levels (and moving averages as well) is an evidence that the trend in down. Thats why we find ourselves favoring a continuation of the short-term downtrend as long as we are below 90.68. And we will await a break of short-term Fibonacci support 90.21. If we break this support the downtrend will resume, and will target 89.61 first, then 89.07 and may be the important 88.64. The price behavior for the past two days, and the amazingly accurate reversal at the Fibonacci resistance (90.68), makes it the most important resistance, and to add to that, the upper limit of the short-term downtrend (the trendline drawn on the chart), is currently at the same level. And only if it is broken, we will change our negative outlook for this pair. If this surprise happens, we will expect price to reach 91.28 then the important resistance 91.63.
Support:
90.21: Fibonacci 61.8% for short-term.
89.61: previous support & Oct 12th low.
89.07: previous intraday support.
Resistance:
90.68: Fibonacci 61.8% for the short-term, and the falling line of the downtrend, important resistance.
91.28: previous intraday important top.
91.63: a well known support area that contained a number of daily tops and bottoms, the last of which was Oct 29th high.
---
Forex trading analysis by Forexpros Written by Munther Marji
---
Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Unemployment Rate in the US to Be Announced Tomorrow
The Unemployment Rate is a measure of the percentage of the total labor force that is unemployed but actively seeking employment and willing to work in the US.
A high percentage indicates weakness in the labor market. A low percentage is a positive indicator for the labor market in the US and should be taken as positive for the USD.
Analysts forecast a 9.90% unemployment rate, up from 9.80%.
---
Euro Dollar
The Euro broke short-term resistance and reached both suggested targets 1.4846 and 1.4897 successfully. Yesterday's climb stopped 10 pips above Fibonacci level, then went back to settle below it. That is why this resistance will keep its importance. Breaking it would send the Euro above 1.50, or at least close to the dollar and a half mark. The Euro continued its shine since reaching the bottom of the hourly channel that we talked about yesterday, and is currently rising inside an upward rising channel on the intraday charts, with its top at 1.4972, a level we consider as a first target to a break of 1.4897, and after that we could see 1.5014. The bottom of the same channel is currently at 1.4839, and as long as price holds above it (at the moment its only pips above this level) the potential for more short-term upside works stays alive. On the other hand a break of the bottom of the channel indicates that the direction for the short-term has turned down, which will target 1.4769 first, and may be 1.4701 later. We remind you of the rate decision of the ECB that will be announced today, and the news conference for president Trichet that will follow, which usually moves the Euro violently.
Support:
1.4839: the bottom of the rising channel on the intraday charts.
1.4769: Fibonacci 50% for the last rising move.
1.4701: previous important support/resistance area.
Resistance:
1.4897: Fibonacci 61.8% for the drop 1.5061.
1.4972: the top of the rising channel on the intraday charts.
1.5014: previous resistance.
---
USD/JPY
Dollar-Yen broke Fibonacci resistance 90.68 and reached 91.28 as we accepted, with accuracy (yesterday's high 91.30), before retreating fast. This behavior redefined the rising channel on the hourly chart to make its bottom at 90.18. And when calculating Fibonacci 61.8% resistance for the short-term (for the drop from yesterday's high), we find that it is at the resistance level of 90.90. In case of a break of either of those levels, we believe price will move in the direction of the break. If the bottom of the channel at 90.18 is broken, the price will move down and target 89.61 first, and may be 89.07 as well. While if we break Fibonacci resistance at 90.90 we expect a rise to surpass yesterday's high, targeting the important 91.63 first, and only if it is broken we can expect 92 to appear on the price screens when the price targets the obvious resistance on the hurly chart 92.17.
Support:
90.18: the bottom of the rising channel on the hourly chart.
89.61: previous support & Oct 12th low.
89.07: previous intraday support.
Resistance:
90.90: Fibonacci 61.8% for the short-term.
91.63: a well known support area that contained a number of daily tops and bottoms, the last of which was Oct 29th high.
92.17: obvious resistance on the hourly chart.
---
Forex trading analysis by Forexpros Written by Munther Marji
---
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Free Webinar Tomorrow on Forexpors.com: Mapping Out the Banking System & Foreign Exchange Dealing Process
Tue, Nov 10, 2009, 11:00 EST/16:00GMT
Dan Cook, Senior Market Analyst at IG Markets will shed light on the inner workings of the international banking system and its impact on currency trading.
The webinar will provide a breakdown of the Central Banks and the Interbank System, highlighting the roles of each of the major players and how their policy decisions impact currency markets. Additionally, Cook will review major market indicators and identify which data releases most critically impact currency markets, enabling traders to get a better sense of which economic announcements warrant the most attention.
Traders await tomorrows release of the Economic Sentiment report by The German Zentrum fόr Europδische Wirtschaftsforschung (ZEW).
The report determines the sentiment of German institutional investors over the past month.
The ZEW report, which is concluded from survey of about 350 German institutional investors and analysts, is considered a leading indicator of business conditions.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
Analysts expect tomorrow's report to indicate a slight drop to 55.00 from lasts month's measure of 56.00
--------------------
Euro/Dollar
Finally, the Euro broke short-term Fibonacci 61.8% resistance level at 1.4897 and reached the previous known resistance 1.4942 which is October 22nd low. Breaking it would send the Euro above 1.50, since we see the first important resistance above it is at 1.5014. Then there is nothing separating the Euro from this year's high 1.5061, and may be reach the important resistance 1.5082. The most important support for the next few hours will be the rising trendline from November 3rd bottoms, which is 1.4880. In case it is broken, the Euro will face a correction on the short-term horizon that will target Fibonacci 38.2% for the short-term at 1.4821, at least, and could reach 61.8% at 1.4746. In this case, the latter will be the most important support for the short-term because staying above means this drop is only a correction, while breaking it means it is more than a correction.
Support:
1.4880: The bottom of the rising channel from Nov 3rd lows.
1.4821: Fibonacci 38.2% for the last rising move.
1.4746: Fibonacci 61.8% for the last rising move.
The Pound broke the resistance 1.6636, and reached the first target 1.6690 successfully, and came close to the second 1.6739 this morning (the high until the moment is 1.6739). This resistance, that represents September 11th high, will be the most important for today. If price fail to break it, it will be heading towards a test of the short-term support at 1.6661, and if this support is broken, we believe the price will be in a correction for the whole rise from 1.6259. Such a correction will target Fibonacci 38.2% at 1.6552 (at least), and could reach Fibonacci 50% at 1.6496. on the other hand, if the price manage to break 1.6739, this rise will continue, and reach areas above 1.68, where there is the important resistance 1.6830 that we believe to be the minimum target for breaking 1.6739. And may be later, we will see a test of the important resistance from August 1.6910. All eyes on 1.6739.
Support:
1.6661: short-term resistance.
1.6552: Fibonacci 38.2% for the short-term.
1.6496: Fibonacci 50% for the short-term.
Resistance:
1.6739: Sep 11th high.
1.6830: Aug 7th high.
1.6910: a previous resistance from August.
----------------
USD/JPY
Dollar-Yen broke the support 90.41 and reached our first target suggested for this break at 89.61 with an amazing accuracy (Friday's low was 89.60). And with the two-time stop at the descending trendline on Friday, and at Fibonacci 50% resistance during the Asian session, the borders of the downtrend is getting clearer and clearer. The falling trendline is now at 90.55, and short-term Fibonacci 61.8% resistance is at 90.37, making this area the most important for the short-term. Staying below it means that bears are in control. More confidence for the downtrend will be gained once we break 90.05, which will target 89.40 then the important bottom 88.82. If a surprise happens, and we break 90.37, we will target 90.90 first, then 91.30.
Support:
90.05: short-term support.
89.40: previous support.
88.82: Oct 14th low, and an important low for determining the medium-term trend.
Resistance:
90.37: Fibonacci 61.8% for the short-term.
90.90: a well known previous support/resistance.
91.30: Nov 4th high.
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Free webinar today - Mapping out the Banking System & Foreign Exchange Dealing Process, Part I
Expert: Dan Cook
When: Tue, Nov 10, 2009, 11:00 EST
As the first Webinar of a two part series, Dan Cook, Senior Market Analyst at IG Markets will shed light on the inner workings of the international banking system and its impact on currency trading.
The webinar will provide a breakdown of the Central Banks and the Interbank System, highlighting the roles of each of the major players and how their policy decisions impact currency markets. Additionally, Cook will review major market indicators and identify which data releases most critically impact currency markets, enabling traders to get a better sense of which economic announcements warrant the most attention.
Traders await the release of the Bank of England's (BOE) Quarterly Inflation Report tomorrow (NOV 10th).
The report sets out a detailed economic analysis and inflation projection on which the Bank's Monetary Policy Committee bases its interest rate decisions. The Monetary Policy Committee is also expected to present an assessment of the prospects for UK inflation over the next two years.
---
Euro Dollar - Rising Trendline
The Euro broke the resistance specified in yesterday's report 1.4942 and reached the first target suggest for his break 1.5014 with good accuracy (yesterday's high was 1.5018). Yesterday's target will be today's resistance, and if broken we expect this rise to go on, reaching new highs that we have not seen this year, first of which is 1.5082, then 1.5144. The most important support for the next few hours will be the rising trendline from November 3rd bottoms, which is at 1.4925 currently. In case it is broken, the Euro will face a correction on the short-term horizon that will target Fibonacci 38.2% for the short-term at 1.4821, at least, and could reach 61.8% at 1.4746. In this case, the latter will be the most important support for the short-term because staying above means this drop is only a correction, while breaking it means it is more than a correction.
Support:
1.4925: The bottom of the rising channel from Nov 3rd lows.
1.4821: Fibonacci 38.2% for the last rising move.
1.4746: Fibonacci 61.8% for the last rising move.
Resistance:
1.5014: previous resistance from 2008.
1.5082: previous resistan4ce from 2008.
1.5144: previous support from 2008.
---
USD/JPY - Falling Trendline
As we said yesterday, the two-time stop at the descending trendline on Friday, and at Fibonacci 50% resistance at the beginning of the week, the borders of the downtrend is getting clearer and clearer. The falling trendline is now at short-term Fibonacci 61.8% resistance is at 90.37, meeting them in the same area is the moving average SMA100, making this area the most important for the short-term. Staying below it means that bears are in control. More confidence for the downtrend will be gained once we break 89.79, the support provided by the rising trendline from this weeks low. Such a break will target 89.40 then the important bottom 88.82. If a surprise happens, and we break 90.37, we will target 90.90 first, then 91.30.
Support:
89.79: the rising trendline from this weeks low.
89.40: previous support.
88.82: Oct 14th low, and an important low for determining the medium-term trend.
Resistance:
90.37: a resistance area that includes Fibonacci 61.8% for the short-term, a falling trendline, and the moving average SMA100.
90.90: a well known previous support/resistance.
91.30: Nov 4th high.
---
Forex trading analysis by Forexpros Written by Munther Marji
---
Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Linear Mode
