Tuesday, May 05, 15:57 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Learning Center: New Contents has been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- WEBINAR VIDEOS: Trading with the ATR & Bollinger Bands by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Equities Keep Major Pairs Buoyant as the NYSE Opens by Tim Salem
Our "Bullet Train" continues to move forwarbull flag, formation, support, resistance,Fibonacci, channel, range, equity, NYSE, correlation, stock, crude oil, energy, reversal, currencyd in most Markets and Currency Units, as Appreciation and Risk Appetite continue to Rule The Day.
FX Path: USD/JPY - Tentative Halt Near Resistance by James Chen
The Disciplined Trader: EUR/JPY may be looking for a topby Pierre Charlebois
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 6, 09:00 GMT
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Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, May 6, 10:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Tue, May 5, 15:00 GMT | Trading with Autochartist | Raghee Horner | WBN |  |
| Tue, May 5, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, May 6, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 6, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, May 6, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
Current Session: U.S.
FXstreet.com Independent Analyst Team − So far, dollar strength against major rivals (except by Japanese Yen) seems more likely a correction than a trend change. EUR/USD Consolidation range has moved up to the 1.33/34 zone, with daily charts still slightly bullish. 1.3550 where we have the 200 EMA will be a key point for the pair in the term.
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EUR/USD
USD/CHF rises back above 1.1300 by FXstreet.com
After falling around 110 pips from 1.1360, intra−day high, to test the 1.1250 support level, the USD/CHF has begun to rise after the US opening bell and ISM data released to climb above 1.1300 level. Currently the pair is trading around 1.1315/25 after rising 0.50% so far today from opening price at 1.1260.
GBP/USD
Pair seems a bit exhausted to the uptrend by FXstreet.com Independent Analyst Team
Pair seems a bit exhausted to the upside, and ready for a downside correction in the hourly charts, probable bearish engulfing in the hourly, yet as long as the pair remains above 1.5000, consider bullish bias intact.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| May 6 | 08:00 | Purchasing Manager Index Services | 43.1 | 43.1 |
EMU economic indicators - EMU PMI probably unchanged by BHF−Bank
Following the seasonal pattern, the German trade balance and current account could have improved in March. The Purchasing Managers' Indices for the German and EMU manufacturing sector in April are unlikely to be revised significantly.
[ Full Story ]Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 5 | 14:00 | ISM Non−Manufacturing | 43.7 | 42.5 | 40.8 |
DATA SNAP: US Service Sector Retreat Moderates In April −ISM (Dow Jones)
Activity in the U.S. service sector shrank less steeply in April, a report said Tuesday. Private research group the Institute for Supply Management said its overall index for non−manufacturing activity last month moved to 43.7, versus the 40.8 seen in March. Economists had expected to see the index at 42.0.
[ Full Story ]- CORRECT: DATA SNAP: US Service Sector Retreat Moderates In April −ISM (Dow Jones)
- US Apr ISM Non−Manufacturing increases to 43.7 vs 40.8 (FXstreet.com)
Friday Notes - ISM non−manufacturing by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 5 | 14:00 | US | Fed's Bernanke testifies | |||
| 14:00 | US | ISM Non−Manufacturing (Apr) | 43.7 | 42.5 | 40.8 | |
| 21:00 | US | ABC/Washington Post Consumer Confidence (May 3) | -44 | -45 | ||
| 23:01 | UK | Nationwide Consumer Confidence (Apr) | 43 | 41 | ||
| May 6 | 01:30 | AU | Retail Sales Trend (MoM) (Mar) | 0.5% | -2.0% | |
| 01:30 | AU | Trade Balance (Mar) | 1.750B | 2.109B | ||
| 07:55 | DE | Purchasing Manager Index Services (Apr) | 43.5 | 43.5 | ||