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Forex Blogs
FX Path: USD/CAD − Hits Long−Term Uptrend Support Line by James Chen
Substantially dollar−weakening price action on USD/CAD, a daily chart of which is shown, has hit and slightly broken below a long−term uptrend support line extending from a major low back in November 2007. Further follow−through on the break should target key support in the 1.0800 price region.
Forex Trading Today: Appreciation Continues with Data Points as Corrections May Arrive by Tim Salem
The Disciplined Trader: EUR/USD - How much more upside? Update EW potentialby Pierre Charlebois
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Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Mon, Jun 1, 05:00 GMT
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jun 1, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jun 1, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN |  |
| Mon, Jun 1, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Mon, Jun 1, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Jun 1, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jun 1, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: U.S.
U.S. Update: Dollar down trend
FXstreet.com − Oil and gold continue rising, and while Wall Street struggles to remain positive, dollar continue falling across the board. Majors keep printing higher highs and lower lows, except for Gbp, but including against Pound dollar downside midterm trend is setting good bases. Close to next key weekly level at the 50% retracement of the 1.6018/1.2330, pair could extend today's rally to the 1.4180 zone, as despite the overbought state in smaller time frames, no signs from reversal are seen yet.
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EUR/USD
Bullish rally continues firming up by FXstreet.com Independent Analyst Team
Bullish rally continues firming up despite indicators show the pair is quite overbought in the hourly chart. Moving inside an ascendant channel, 1.4140 is our first resistance for today, followed by 1.4180, 50% Fibonacci retracement of the monthly rally 1.6118/1.2330
USD/CAD
USD to CAD Daily Chart by FXstreet.com
Not a lot to say other than we continue our journey due south on the dollar to cad pair with the next target at 1.055 where we may find some minor support which could temporarily halt the collapse of the US dollar but should this be breached then we may well see a return to parity in due course.
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 PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jun 1 | 08:30 | Purchasing Manager Index Manufacturing | - | 42.9 |
Friday Notes - UK, PMI: Further signs of improvement by UniCredit Group
The PMIs have apparently bottomed out, signaling that the worst in terms of GDP growth was likely recorded in Q1. In April, both PMIs had a big jump, which should not be repeated in May, in our view. Still, we see a moderate increase for the manufacturing and services index, respectively to 43.5 (from the previous 42.9) and 49 (from the previous 48.7). Signs of recovery in the global cycle and a sizeable stock depletion so far bode well, in particular for the manufacturing sector.
[ Full Story ]Top Market Movers Review
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 29 | 12:30 | Gross Domestic Purchases Price Index | 2.8% | 2.9% | 2.9% |
| May 29 | 12:30 | Gross Domestic Product Annualized | -5.7% | -5.5% | -6.1% |
DATA SNAP: US Economy 1Q Revised Less Than Expected (Dow Jones)
The U.S. economy didn't contract as much last winter as first thought, according to a report that showed rising corporate profits and suggested the recession hit bottom at the end of 2008.
[ Full Story ]- Forex: GBP/USD tests 1.6175 resistance after the US 1Q GDP data (FXstreet.com)
- US GDP Annualized up to −5.7% in 1Q (FXstreet.com)
- Table Of Data On U.S. Corporate Profits (Dow Jones)
US economic indicators - GDP (Q1 preliminary): upward revision due to inventories and net exports by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 29 | 13:45 | US | Chicago Purchasing Managers' Index (May) | 34.9 | 42.0 | 40.1 |
| 14:00 | US | Reuters/Michigan Consumer Sentiment Index (May) | 68.7 | 68.0 | 67.9 |
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| Jun 1 | 00:00 | DE | Whit Monday Market Holiday | |||
| 01:00 | AU | HIA New Home Sales (MoM) (Apr) | 4.2% | |||
| 01:30 | JP | Labor Cash Earnings (YoY) (Apr) | -3.9% |
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| 01:30 | AU | Retail Sales Trend (MoM) | 2.2% | |||
| 08:00 | EMU | Purchasing Manager Index Manufacturing (May) | 40.5 | |||
Educational Resources
Seasonal Patterns are simply cycles in a Commodity's life that repeat on a consistent basis year after year. This creates opportunities in outright Futures or Spread positions that fall in an optimized window in time. Read full Lessons from the Pros report!
Webinar - Correlations: commodities and small dollars with Valeria Bednarik on Jun 2 at 15:00 GMT - Register now!
Webinar Recording - The Relationship between Commodities and the Foreign Exchange Market by Dan Blystone
Webinar Recording - Seasonal Patterns for Grain Traders by Carley Garner
Check Carley Garner's book Commodity Options