Monday, May 18, 16:01 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- NEW: Live Webinars during the Asian Trading Session: Markets Commentaries at 5 and 6 GMT. Check our schedule!
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. Read it now!
- WEBINAR VIDEOS: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Chartology: Looking at a EUR/USD Swing by Raghee Horner
This morning I was watching a breakout on the 15 and 30 minute charts and was not really happy with the brakout set ups I saw…the 15 minute's chart was ok: decent flat Wave, good downtrend line break. It was all a moot point because the trigger happend before I was awake so I saw the follow through as it rallied toward the "00″ of 1.3500.
The Advisor Blog: Usd/Jpy regaining some ground by Valeria Bednarik
Forex Trading Today: The Euro and The Queen See Quiet Consolidation by Tim Salem
Find other fellow traders to share your comments and market view in the FOREX FORUM
Sponsored by 
Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, May 19, 06:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, May 19, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 18, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, May 19, 06:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, May 19, 09:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Tue, May 19, 10:00 GMT | Advanced Technical Analysis | Peter Leonidou | WBN | |
| Tue, May 19, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
Current Session: U.S.
U.S. Update: Risk swings at the beginning of the week
FXstreet.com − Wall Street opened higher and continues quite positive having gained 150 points or 1.5% at this time. Risk swings continue to dominate market, provoking wide intraday ranges and quick mood changes across the day. GBP/USD remains bullish and pushing higher with daily charts showing the 1.5000 zone will be key for the pair bias. Failure attempts to break under that zone during past week and actual consolidation stage open doors for bullish longer term bias in the pair.
.
GBP/USD
Currency Majors Technical Perspective − Bearish in the hourly the 38.2% of the last up leg is offering support by FXstreet.com Independent Analyst Team
Also regaining the upside, indicators lost steam and seem a bit exhausted and suggesting a downside correction before further continuation in the pair. Close to past week high at 1.5352, clear break above that level will turn the pair bullish for the rest of the week.
USD/CHF
FX Thoughts for the Day − Dollar−Swiss has ranged during the day between 1.1216 and 1.1270 by Kshitij Consultancy Service
Dollar−Swiss has ranged during the day between 1.1216 and 1.1270 as the 13−DMA Support is being tested currently. It is likely to get into a Support region of 1.1216−1.1190. A break below might see it dip towards 1.1150.
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
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 18 | 17:00 | NAHB Housing Market Index | 16 | 14 |
Friday Notes - NAHB housing market index: Builders confirm less pessimistic mood by UniCredit Group
Home−builders are experiencing the worst slump in their lifetime. But the degree of pessimism is diminishing. That doesn't mean that there will be a recovery in residential construction any time soon. That won't happen until next year or 2011.
[ Full Story ]Daily Market Report - Economic releases include U.S. NAHB Housing Market Index by Wachovia
Top Market Movers Review
EMU TRADE BALANCE N.S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 18 | 09:00 | Trade Balance n.s.a. | €0.4B | -€0.3B | -€1.0B |
| May 18 | 09:00 | Trade Balance s.a. | -€2.1B | -€3.8B | -€2.9B |
DATA SNAP: Euro Zone Posts Unexpected Trade Surplus In March (Dow Jones)
The euro zone posted an unexpected trade surplus in March, but exports and imports were both weaker on the year as demand at home and abroad was hit by recession, official data showed Monday.
[ Full Story ]- Read the Trade Balance data at Eurostat
- UPDATE: Euro Zone Posts Surprise Trade Surplus In March (Dow Jones)
- Euro Zone Trade balance swings unexpectedly to surplus in March (FXstreet.com)
- EU n.s.a. Trade surplus rises to €0.4B in Mar (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 18 | 00:00 | CA | Victoria Day Market Holiday | |||
| 15:30 | US | Treasury's Geithner Speech | ||||
| 17:00 | US | NAHB Housing Market Index (May) | 16 | 14 | ||
| 22:10 | AU | RBA's Governor Glenn Stevens Speech | ||||
| May 19 | 01:30 | AU | RBA Meeting's Minutes | |||
| 04:30 | JP | Capacity Utilization (Mar) | -11.9 | |||
| 04:30 | JP | Industrial Production (MoM) (Mar) | 1.6% | -9.4% | ||