Thursday, May 23, 19:21 GMT
ASIA-PACIFIC Trading Newsletter
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To Get Started
- Economic Surveillance: AUDUSD pushes higher above 4 hour 10 and 20 SMA's by ForexTrading.TV
- Latest WEBINAR recording: How to Trade the EUR by Kathy Lien
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The Trader's Eye on USD/JPY, short-term
Gonçalo Moreira - The US dollar saw a short-lived rise versus the yen at the beginning of the American session.
The JPY strengthened across the board, by Fan Yang
USD/JPY correcting lower within long term bullish channel by Eric Viloria
Website improvements
Have you noticed? We have changed the organization of the Homepage and Technical subhome.
Latest from the Forex Social Network
joseph Dabe has a new status 13 minutes ago Aud/Usd bullish divergence on daily long at current price tp 0.9860 no sl
Daologic commented a blog post 32 minutes ago Some tips - part 2
Peter, no one is re-painting the candle-sicks. Yes, off course the prices are manipulated and there is a stop hunt but they don't repaint the pinbars...
Romano commented a blog post 37 minutes ago EUR / JPY and OB''s / OS's
Yes Hi/Lo indy u got on GFT I miss here. The one thats here doesnt work same way, unfortunately.
You can extend lines: double click on them, then u se...
Jim Arens uploaded a photo 1 hour ago jim
Webinars Schedule
Gold and Silver End of Week Review
Expert: Phil Carr
Start: Fri, May 24, 10:00 GMT
Type of Session: Webinar
US Pre−Market Open
Expert: Ed Ponsi
Start: Fri, May 24, 12:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 23, 20:00 GMT | Pairs Correlations and Stop Hunting | Dale J Pinkert | WBN |  |
| Fri, May 24, 10:00 GMT | Gold and Silver End of Week Review | Phil Carr | WBN | |
| Fri, May 24, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Fri, May 24, 13:00 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, May 24, 15:00 GMT | Fibonacci Friday | Andrei Knight | WBN | |
Current Session: U.S.
EUR/USD: Buyers still defending 1.2800/40
But along the European session, with peripheral yields falling and stocks off their lows, majors correct against the greenback. As for the short term, the EUR/USD hourly chart shows a clear upward momentum, although selling interest is aligned in the 1.2930/50 area.
USD/JPY: Profit taking bias intact beneath 102.05
GBP/USD Trades in a Falling Channel; Bounces off Support Pivot
Charting the Market Movers
USD CAD, Hourly
Event of the Day
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 23 | 08:30 | Gross Domestic Product (QoQ) | 0.3% | 0.3% | -0.3% |
UK: Annual GDP expands 0.6% in Q1, as expected (FXstreet.com)
[ Full Story ]- Read the official report at National Statistics
- EUR/GBP continues to trade positively at 0.8555/56 after UK GDP (FXstreet.com)
- GBP/USD holds at 1.5066/68 after UK GDP (FXstreet.com)
- United Kingdom Gross Domestic Product (QoQ) increase to 0.3% in 1Q; 0.6% (YoY) (FXstreet.com)
Event of the Week
US FED'S BERNANKE TESTIFIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 14:00 | Fed's Bernanke testifies | - | - | - |
Bernanke warns ‘premature' Fed tightening could stifle US economic recovery (FXstreet.com)
[ Full Story ]- Read the official report at Federal Reserve
- Bernanke warns against early tightening, looking for sustained improvement (Forex Live)
- Lots of wiggle room on taper for Bernanke (FXBriefs.com)
- Bernanke declines to comment when asked if he would accept another term (FXBriefs.com)
Flash Comment - FOMC: QE tapering is drawing closer by Danske Bank A/S
Asia Market Open - USD stays well bid after Bernanke testimony by FXWW
Daily Forex Market Wraps - Bernanke speaks, US dollar rallies, stocks and bonds sell off by Vantage FX
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 23 | 14:30 | US | EIA Natural Gas Storage change | 89B | 99B | |
| 15:00 | US | Kansas Fed manufacturing activity (May) | 5 | -5 | 1 | |
| 19:30 | EMU | ECB President Draghi's Speech | ||||
| 22:45 | NZ | Exports (Apr) | $4.06B | $4.42B | ||
| 22:45 | NZ | Imports (Apr) | $3.64B | $3.70B | ||
| 22:45 | NZ | Trade Balance (MoM) (Apr) | $475M | $718M | ||
| 22:45 | NZ | Trade Balance (YoY) (Apr) | -$0.36B | -$0.52B | ||
Educational Resources
Setting the Stop Loss in a Breakout Scenario – Close or Far? 4 Factors
Forex Crunch − Where do you place your stop loss? Many traders struggle with this wonder, but it doesn't have to be so complicated. The answer to the question above depends on your system. Let's see what is a "close point", a "far point", and how you can better determine the placement.
Also Check:
Basic Trading Video: Stop Loss by Investopedia
Stop Losses by Brandon Wendell - Online Trading Academy