Wednesday, May 06, 07:50 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: New Contents has been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- Webinar Videos: Trading with the ATR & Bollinger Bands by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Accumulation and Consolidation Begin Across the Four Siblings by Tim Salem
Greetings Again, Everyone at the "Bewitching Hour" of Midnight! The "Four Siblings", our Fiber, Cable, Yen, and Swissy Friends have been taking a little "Rest" the last few hours as Accumulation moves into Perspective with some IntraDay Ranges and clear Channels within Static Activity.
The Trader's Edge: CAD/JPY Outlook by Ross Yamashita
The Day Job Trader: Strong Retail Sales Data For AUD by Ryan O'Keefe
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 6, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, May 6, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 6, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 6, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, May 6, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
| Wed, May 6, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
Current Session: Europe
EUR/USD: Euro drops from month−high at 1.3440 to 1.3250 support
FXstreet.com − The Euro has reversed gains achieved on Monday by dropping almost 200 pips from 1.3140 month high reached yesterday, to 1.3250 support level, where the Euro is trying to set a bottom.
On its attempt to pick up, the Euro could find resistance at 1.3285 (May 5 low) and once above there, 1.3345 and 1.3385. On the downside, immediate support level lies at 1.3250 and below there, 1.3210 (May 4 low) and 1.3200
.
GBP/USD
GBP/USD: Slight Appreciation from the Daily Dynamic Support of 1.4984 by FXstreet.com
Bearish Momentum with Dynamic Trendline Resistance leads to slight Consolidation over the last few hourly Candles, as Price finds Daily Dynamic Support at 1.3244.
USD/JPY
Market Session Recaps − Risk aversion was back on the table today in Asia by FOREX.com
USD/JPY sank from early session highs just under 99.00 to just over 98.00 on the news and EUR/JPY went from the 131.80 area to hit a low of 129.85 in a stop driven move.
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
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| May 6 | 08:00 | Purchasing Manager Index Services | 43.1 | 43.1 |
EMU economic indicators - EMU PMI probably unchanged by BHF−Bank
Following the seasonal pattern, the German trade balance and current account could have improved in March. The Purchasing Managers' Indices for the German and EMU manufacturing sector in April are unlikely to be revised significantly.
[ Full Story ]Top Market Movers Review
Australia RETAIL SALES TREND
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 6 | 01:30 | Retail Sales Trend (MoM) | 2.2% | 0.5% | -2.0% |
DATA SNAP:Australian Mar Retail Sales Rise 2.2% Vs Feb (Dow Jones)
Australian retail sales rose a higher−than−expected 2.2% to a seasonally adjusted A$19.30 billion in March from A$18.87 billion in February and rose from A$18.16 billion a year earlier, the Australian Bureau of Statistics said Wednesday. Economists surveyed ahead of the announcement on average had expected a 0.5% rise in sales for March.
[ Full Story ]- Read the Retail Sales data at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 5 | 21:00 | US | ABC/Washington Post Consumer Confidence (May 3) | -43 | -44 | -45 |
| 23:01 | UK | Nationwide Consumer Confidence (Apr) | 50 | 43 | 42 |
|
| May 6 | 01:30 | AU | Retail Sales Trend (MoM) (Mar) | 2.2% | 0.5% | -2.0% |
| 01:30 | AU | Trade Balance (Mar) | 2.50B | 1.75B | 1.75B |
|
| 07:55 | DE | Purchasing Manager Index Services (Apr) | 43.5 | 43.5 | ||
| 08:00 | UK | Halifax House Prices (MoM) | -1.0% | -1.9% | ||
| 08:00 | EMU | Purchasing Manager Index Services (Apr) | 43.1 | 43.1 | ||
| 08:30 | UK | Purchasing Manager Index Services (Apr) | 46.3 | 45.5 | ||
| 09:00 | EMU | Retail Sales (MoM) (Mar) | 0.1% | -0.6% | ||
| 09:00 | EMU | Retail Sales (YoY) (Mar) | -2.6% | -4.0% | ||