Thursday, May 21, 16:07 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: Conquering Fear and Greed: How to Deal With Emotions When Trading by Markus Heitkoetter
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Slight Corrections See Accumulation Continue in EUR/USD and GBP/USD by Tim Salem
We are about 40 minutes into the NYSE Open, where Equities and the Major Indices are Bidding Lower, as the European Bourses feed into the U.S. Session. Crude Oil is maintaining Support slightly above the $60 Area, and Gold is Buoyant at $937.
The Disciplined Trader: GBP/USD - a picture says a 1000 words by Pierre Charlebois
The Advisor Blog: Usd/Jpy and Gbp/Usd update by Valeria Bednarik
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Asia−Pacific Trading Webinar
Expert: Abdul Khan
Start: Fri, May 22, 05:00 GMT
Type of Session: Webinar
Understanding Bias and Generating Objective Bias
Expert: Steve Beaumont
Start: Fri, May 22, 10:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 21, 15:00 GMT | MONTHLY WEBINAR: Part 2 − Building a Mechanical Forex Trading System  | Steve Misic | WBN |  |
| Fri, May 22, 05:00 GMT | Asia−Pacific Trading Webinar | Abdul Khan | WBN | |
| Fri, May 22, 09:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, May 22, 10:00 GMT | Understanding Bias and Generating Objective Bias | Steve Beaumont | WBN | |
| Fri, May 22, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
Current Session: U.S.
U.S. Update: Again risk appetite rules
FXstreet.com − The dollar rebound in Europe is extending by falling stocks: DJIA is under 8300 points while S&P breaks under 900, triggering again some risk aversion in market: dollar and yen are pushing higher thus appreciation seems limited at this time. A longer term perspective will need to consider the fact that, despite the global economic outlook is improving, high yield currencies appreciation seems a bit over extended at this point.
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EUR/USD
Daily Technical Strategist − EURUSD: Loss Of The 1.3720/38 Levels Triggers EUR's Uptrend Resumption by FXTechstrategy
With a break and close above its key overhead resistance located the 1.3720/38 levels, Mar 04'09/May 13'09 highs seen on Wednesday, resumption of its short term uptrend off the 1.2456 level.
GBP/USD
GBP/USD:Pound's recovery, limited by negative stock markets by FXstreet.com Independent Analyst Team
Pair lost ground after Standard & Poor credit downgrade after hitting a multi month high at 1.5815, but is slowly regaining the upside, thus limited by stocks falling across the world.
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
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Cons. | Previous | |
| May 22 | 08:30 | Gross Domestic Product (QoQ) | -1.9% | -1.9% |
| May 22 | 08:30 | Gross Domestic Product (YoY) | -4.1% | -4.1% |
Friday Notes - UK, GDP Widespread weakness by UniCredit Group
The second release of Q1 GDP should confirm the economy contracted by 1.9% q−o−q. The expenditure breakdown is likely to show that weakness was wide−spread, with both private consumption and investment possibly shrinking at a faster pace than in Q4 and stock depletion exacerbating the descent.
[ Full Story ]Top Market Movers Review
US LEADING INDICATORS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 21 | 14:00 | Leading Indicators (MoM) | 1.0% | 0.8% | -0.2% |
US Leading Index Rises 1.0% In Apr; First Gain In 7 Months (Dow Jones)
The April index of leading indicators suggested the U.S. economy has moved slightly closer to recovery. The leading index rose 1.0% after a revised 0.2% drop in March, the Conference Board reported Thursday. March's drop was originally reported as 0.3%.
[ Full Story ]- US Leading Index Rises 1.0% In Apr; First Gain In 7 Months (Dow Jones)
- US Apr Leading Indicators increase 1% (FXstreet.com)
US economic indicators - Leading indicators (Apr): sharp rise mainly due to stock market recovery by BHF−Bank
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 21 | 12:30 | Continuing Jobless Claims | 6662K | 6650K | 6587K |
| May 21 | 12:30 | Initial Jobless Claims | 631K | 630K | 643K |
US Jobless Claims −12K To 631K In May 16 Week; Survey −7K (Dow Jones)
The number of U.S. workers filing new claims for state unemployment benefits fell more than expected last week even as the tally of workers collecting benefits for more than a week and another figure aimed at mitigating the effects of volatility in continuing claims data rose to record highs.
[ Full Story ]- Read the Jobless Claims data at Labor Department
- UPDATE: US Jobless Claims −12K To 631K In May 16 Week; Survey −7K (Dow Jones)
- Forex: EUR/USD: Euro drops below 1.3755 after U.S. jobless claims (FXstreet.com)
- US May 16 Initial Jobless Claims down to 631K, continuing rise to 6662K (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 21 | 14:00 | US | Leading Indicators (MoM) (Apr) | 1.0% | 0.8% | -0.2% |
| 14:00 | US | Philadelphia Fed Manufacturing Survey (May) | -22.6 | -18.0 | -24.4 | |
| 23:00 | US | Philadelphia Fed's Plosser speech | ||||
| May 22 | 04:00 | JP | BoJ Interest Rate Decision | 0.1% | 0.1% | |
| 05:00 | JP | Coincident Index (Mar) | 86% | |||
| 05:00 | JP | Leading Economic Index (Mar) | 76.6 | |||
| 08:30 | UK | Gross Domestic Product (QoQ) (1Q)  | -1.9% | -1.9% | ||
Educational Resources
A channel is a figure of high reliability, formed by two parallel trend lines at its borders. There are different kinds of channels, but they mostly work the same way. Check Valeria Bednarik's Technical Basic Lesson !
Related Resources
Advanced Indicator Manual - Price Channels by Doug Schaff
Q&A Transcripts - Trading with Bands and Channels by Robert Firestone
Q&A Transcripts - Trading with Channels by Valeria Bednarik