Tuesday, Jun 02, 16:16 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
FX Path: USD/CHF − Continuing Dollar Weakness by James Chen
Price action on USD/CHF, a daily chart of which is shown, has dropped further down to reach support around 1.0600 as of Tuesday (6/2/2009) morning. This occurs after the pair broke down below three different support factors: a well−defined inverted flag, a long−term uptrend support line extending from the March 2008 low, and then the key 1.0700 support resistance region.
The Trader's Edge: Has the EUR/USD formed a top? Read on by Ross Yamashita
The Advisor Blog: Gbp/Usd technical points by Valeria Bednarik
FX Market Readings: A day of swing and slide by Dr. Sivaraman
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Live Sessions Schedule
Understanding Market Rhythm
Expert: Lea Peters
Start: Tue, Jun 2, 19:00 GMT
Type of Session: Webinar
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Wed, Jun 3, 05:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jun 2, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Tue, Jun 2, 19:00 GMT | Understanding Market Rhythm | Lea Peters | WBN |  |
| Wed, Jun 3, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Wed, Jun 3, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Wed, Jun 3, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
Current Session: U.S.
U.S. Update: Could Euro hold gains?
FXstreet.com Independent Analyst Team − Pending home sales in the U.S. are up for third consecutive month with the index rising to 6.7%, triggering another risk appetite spike. Wall Street is at a multi week high, approaching to the 8800 level, while oil and gold continue pushing higher. Pair continues rising and 4 hours charts clearly show how strong the trend remains: after reaching over bought conditions past Monday, pair correction failed to break under bullish 20 SMA and regain the upside, setting a new intraday high at 1.4280.
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USD
Currency Trading Majors Pairs − US Dollar Index by Master The Markets
Yesterday's daily candle on the dollar index chart hinted at a possible short squeeze in the index ending the day with a small body and a deep lower wick, indicative of a hammer, but so far in early trading this morning this signal has failed to be confirmed and the downtrend in the index appears to be continuing unabated
EUR/USD
Bullish trend remains intact in the pair by FXstreet.com Independent Analyst Team
Fresh high at 1.4280 bullish trend remains intact in the pair, as no major downside corrections are seen, and price continues to print higher highs. Hourly indicators seem a bit exhausted, yet price will need to move under 1.4210 static support, to fall a bit further.
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 GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jun 3 | 09:00 | Gross Domestic Product s.a. (QoQ) | -2.5% | -2.5% |
| Jun 3 | 09:00 | Gross Domestic Product s.a. (YoY) | -4.6% | -4.6% |
Friday Notes - GDP forecast is −0.6% q−o−q by UniCredit Group
The drop in Q1 GDP was most likely driven by tumbling exports and fixed investment, similar to what happened at the end of 2008. Inventories should have been a (possibly significant) drag, while private consumption probably continued to fall, but at a relatively contained pace. The recent improvement in business surveys points to a clearly less severe pace of GDP contraction in Q2. Our forecast is −0.6% q−o−q.
[ Full Story ]Top Market Movers Review
US PENDING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 2 | 14:00 | Pending Home Sales (MoM) | 6.7% | 0.4% | 3.2% |
US Pending Home Sales Climb 6.7% In April − Realtors (Dow Jones)
[ Full Story ]- Read the Pending Home Sales data at NAR
- U.S. Pending Home sales rise above expectations; Dollar, down vs Pound, up vs Yen (FXstreet.com)
- US Apr Pending Home Sales rise 6.7%, 0.4% expected (FXstreet.com)
US economic indicators - Pending home sales will have risen again by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 2 | 09:00 | EMU | Unemployment Rate (Apr) | 9.2% | 9.1% | 8.9% |
| 14:00 | US | Pending Home Sales (MoM) (Apr) | 6.7% | 0.4% | 3.2% | |
| 21:00 | US | ABC/Washington Post Consumer Confidence (May 31) | -47 | |||
| 22:01 | UK | Nationwide Consumer Confidence (May) | 52 | 50 | ||
| Jun 3 | 01:30 | AU | Gross Domestic Product (QoQ) (1Q) | -0.2% | -0.5% | |
| 01:30 | AU | Gross Domestic Product (YoY) (1Q) | -0.4% | 0.3% | ||
| 07:55 | DE | Purchasing Manager Index Services (May) | 46 | 46 | ||
Educational Resources
Educator of the Month: Markus Heitkoetter
Markus Heitkoetter is an experienced trader and CEO of Rockwell Trading Inc. He's a close contributor of FXstreet.com for about 3 years now. He's regularly presenting Live webinars here and will also be Key Speaker at FXstreet.com's International Traders Conference in Barcelona on October 14−16. Check his author's page to know more about him and his contents!
Highlighted resources
Forex Trading Strategies: Conservative trading strategy - Video, report and trading plan template
Conquering Fear and Greed: How to Deal With Emotions When Trading - Webinar recording
Facts, Fiction and Truth About Day Trading - Webinar recording
The Complete Guide to Day Trading: A Practical Manual from a Professional Day Trading Coach - Book
International Traders Conference (ITC 09) Barcelona - Markus will be Key Speaker at the event