Wednesday, May 21, 08:01 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- Ichimoku, an exclusive indicator of our Live Charts Panel!
- New features and filters in our Real-Time Economic Calendar
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 21, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Tracking the forex market together / Part I
Expert: Dr.S.Sivaraman
Start: Wed, May 21, 10:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 21, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 21, 10:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN |  |
| Wed, May 21, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Wed, May 21, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: Europe
GBP/USD
Daily Market Commentary − The dollar was trashed on Tuesday by Global Forex Trading
Sterling/dollar surged to a near two−week high and this forced my model to go long after being short a day earlier. At least I like move, especially since it formed interim inversed head−and−shoulders. Initial resistance now moved to 1.9719. Strong resistance is seen nearby at 1.9730. Above 1.9766, there is further resistance at 1.9880. Distant resistance is at 2.0030. Immediate support is now seen at 1.9645. This is followed by 1.9585. Only a break below 1.9495 jeopardized the cable's recovery.
- Dan Blystone's Daily Briefing at 12:30 GMT/08:30 EDT
- Longer−term Support and Resistance Trading: Setups and Rules by Rob Booker, Currency Analyst Piptopia
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Banks' Analysis
Today's Technical Trading Points by Danske Bank A/S
FX Analysts' Comments
Is your strategy designed for a trending or non−trending market? by Raghee Horner, Founder of EZ2Trade Software
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.5646 , above pivot level 1.5609
05/21/2008 06:54 GMT - GBP/USD
- Moves down towards pivot level 1.9626
05/21/2008 06:54 GMT - USD/CHF
- Trades around opening price level 1.0373 , below pivot level 1.0420
05/21/2008 06:56 GMT - USD/JPY
- Moves down below first support level 103.26
05/21/2008 06:56 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Cons. | Previous | |
| May 21 | 08:00 | IFO − Business Climate | 102.0 | 102.4 |
| May 21 | 08:00 | IFO − Expectations | 96.4 | 96.8 |
Daily Forex Commentary - Further Ifo weakness ahead? by Jyske Bank
Furthermore macro economic events could contribute to the sour mood among investors as the German Ifo index is due for release at 10:00 am. The index fell sharply in April but we expect that further weakness in the index lies ahead.
[ Full Story ]Forex Trading Strategies - EUR in focus with IFO release today by Saxo Bank
Asia Market Update - EUR well supported ahead of Ifo survey by TradeTheNews.com
Top Market Movers Review
Australia NEW MOTOR VEHICLE SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 21 | 01:30 | New Motor Vehicle Sales (MoM) | -0.8% | - | 0.7% |
| May 21 | 01:30 | New Motor Vehicle Sales (YoY) | 3.5% | - | 3.7% |
Australian New Auto Sales −0.8% In Apr Vs Mar (Dow Jones)
Australian new motor vehicle sales fell 0.8% to a seasonally adjusted 89,255 units in April from March, the Australian Bureau of Statistics said Wednesday. The bureau's trend estimate, which further smoothes the seasonally adjusted data, fell 0.4% in April from March.
[ Full Story ]- Read the New Motor Vehicle Sales report at Australian Bureau of Statistics
- Australia new vehicle sales fall 0.8 percent in April (Thomson Financial News)
Australia WESTPAC CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 21 | 00:30 | Westpac Consumer Confidence | 2.7% | 1.8% | -1.3% |
Australia's Westpac consumer sentiment index rises 2.7 pct in May (Thomson Financial News)
The Westpac−Melbourne Institute Consumer Sentiment Index rose 2.7 percent in May, marking the first increase since December, after the Australian government promised income tax cuts in its federal budget announced last week. The index rose to 89.8 in May from 87.4 in April, Westpac Banking Corp Ltd. said on Wednesday. Last month's reading was the lowest level since June 1993.
[ Full Story ]- Read the Consumer Confidence report at Melbourne Institute website
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 21 | 00:30 | AU | Westpac Consumer Confidence (May) | 2.7% | 1.8% | -1.3% |
| 01:30 | AU | New Motor Vehicle Sales (MoM) (Apr) | -0.8% | 0.7% |
||
| 01:30 | AU | New Motor Vehicle Sales (YoY) (Apr) | 3.5% | 3.7% | ||
| 03:00 | NZ | Credit Card Spending (Apr) | 8.3% | 3.3% |
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| 08:00 | DE | IFO − Business Climate (May) | 102.0 | 102.4 | ||
| 08:00 | DE | IFO − Expectations (May) | 96.4 | 96.8 | ||
| 08:30 | UK | Bank of England Minutes | ||||
| 08:30 | UK | M4 Money Supply (MoM) (Apr)  | 0.6% | 0.8% | ||
| 08:30 | UK | M4 Money Supply (YoY) (Apr) | 11.1% | 11.9% | ||
| 08:30 | UK | M4 Sterling Lending (Apr) | £16.0B | £17.4B | ||