Thursday, May 28, 15:55 GMT
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Forex Blogs
Chartology: Following up the follow−up on the USD/JPY by Raghee Horner
Yes I'm having some fun but I don't want to abandon our discussion here because the 240 minute USD/JPY did indeed transition to a sideways market cycle for a momentum set up and broke out. Here's the momo set up after the Wave finished leveling out to a sideways three o'clock angle.
Forex Trading Today: USD/JPY looks to Appreciation as The Queen Wrestles with The Euro by Tim Salem
The Day Job Trader: Swing and a Miss by Ryan O'Keefe
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Live Sessions Schedule
Asia−Pacific Trading Webinar
Expert: Abdul Khan
Start: Fri, May 29, 05:00 GMT
Type of Session: Webinar
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Fri, May 29, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 28, 16:00 GMT | Short−Term Support and Resistance Trading with Naked Charts | James Chen | WBN |  |
| Fri, May 29, 05:00 GMT | Asia−Pacific Trading Webinar | Abdul Khan | WBN | |
| Fri, May 29, 10:00 GMT | Scanning for low risk / high reward trading opportunities  | Sam Seiden | WBN | |
| Fri, May 29, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Mon, Jun 1, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: U.S.
GBPUSD:Shooting Star Formation Portends Lower Prices Nearer Term
FXTechstrategy − GBPUSD:The inability of the pair to sustain its intra gains on saw it reversing most of those gains to close marginally higher forming a shooting star candle on Wednesday. It was seen trading lower in early morning trading today. We now envisage corrective pullbacks to shape up. In such case, supports are located at the 1.5724 level, its eroded resistance which should now provide support.
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EUR/USD
Bigger time frames also support a bullish continuation by FXstreet.com Independent Analyst Team
Slightly bullish in the hourly, the upside is capped by the 1.3900 level that rejected previous attempts to break above. 20 SMA has a nice bearish slope yet price is above it. Break under 1.3810, 38.2% of the last daily upside rally, could change bias and trigger bearish momentum in the pair.
GBP/USD
A fascinating chart for all us interested in technical analysis by Master The Markets
Yesterday's candle was a classic shooting star at the top of a long bull rally characterized with a long upper shadow and narrow body with the open and close virtually identical. Second this candle followed on the back of three consecutive bearish signals, two of which would be classified as "hanging men" reversal candles.
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 CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 29 | 09:00 | Consumer Price Index (YoY) | 0.2% | 0.6% |
| May 29 | 09:00 | Consumer Price Index (MoM) | - | 0.4% |
EMU economic indicators - EMU inflation flash estimate (May): down by BHF−Bank
The Eurostat flash estimate is likely to show that euro area inflation decreased to 0.2% yoy in May.
[ Full Story ]US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| May 29 | 12:30 | Gross Domestic Purchases Price Index | 2.9% | 2.9% |
| May 29 | 12:30 | Gross Domestic Product Annualized | -5.5% | -6.1% |
US economic indicators - GDP (Q1 preliminary): upward revision due to inventories and net exports by BHF−Bank
In the advance release for Q1, the Commerce Department reported that GDP had fallen by an annualised 6.1% qoq, roughly the same pace of decline as in Q4.
[ Full Story ]Top Market Movers Review
US NEW HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 28 | 14:00 | New Home Sales | 352K | 360K | 351K |
| May 28 | 14:00 | New Home Sales (MoM) | 0.3% | 1.1% | -0.6% |
U.S. new home sales increase below expectations in April; Dollar trims losses (FXstreet.com)
Sales of new homes have risen 0.3% in April, to an annual level of 352K, below the 3.0% increase expected by the market. Euro and Pound have pulled down from high levels. EUR/USD has dropped to 1.3915 from 1.3955 high reached ahead of the release of housing data.
[ Full Story ]- Read the New Home Sales data at Census Bureau
- Table Of Data On New Home Sales From Commerce (Dow Jones)
- DATA SNAP: US New−Home Sales Inch Higher In April (Dow Jones)
- US Apr New Home Sales rise a 0.3% to 352K (FXstreet.com)
US economic indicators - New home sales are expected to have risen by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 28 | 15:00 | US | EIA Crude Oil Stocks change | -5.4M | 0.0M | -2.1M |
| 15:00 | ZA | SARB Interest Rate Decision | 7.5% | 8.5% | ||
| 22:45 | NZ | Building Permits (MoM) (Apr) | 2.2% | -4.6% | ||
| 23:01 | UK | Gfk Consumer Confidence (May) | -25 | -27 | ||
| 23:15 | JP | Nomura/ JMMA Manufacturing Puchasing Manager Index (May) | 41.4 | |||
| 23:30 | JP | Jobless Rate (Apr) | 5.0% | 4.8% | ||
| 23:30 | JP | National Consumer Price Index (YoY) (Apr) | -0.3% | -0.3% | ||