Wednesday, May 13, 07:30 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
The Trader's Edge: EUR/GBP Trade Analysis by Ross Yamashita
Looking at the EUR/GBP 5 minute chart, we see a movement up, hit a top and is now moving back down. Is this a retracement or will this turn out to be a reversal? It appears to be a retracement at this point. We marked off 3 potential points to place your stop loss − depending on your risk tolerance.
Forex Trading Today: Yen Crosses Look To Gain Strength After Corrective Sentiment by Tim Salem
FX Path: USD/CAD - Bounce off Channel Low by James Chen
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Expert: Mark De La Paz
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Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, May 13, 10:00 GMT
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| Wed, May 13, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 13, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, May 13, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, May 13, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN |  |
Current Session: Europe
EUR/USD: Price now finds the IntraDay Range of 1.3584 − 1.3702
FXstreet.com Independent Analyst Team − Hourly Consolidation continues as Price now finds the IntraDay Range of 1.3584 − 1.3702 with Bullish Sentiment in the Near−Term now Breaching the Range. Solid Daily Static Resistance Holds Price at the 1.3694/1.3702 Area, and Violation brings 1.3728 and 1.3766/83 where Rejction completes the Macro− Hourly "M" Double−Top Formation.
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USD/JPY
Daily Technical Analysis − USD/JPY: Expect prices to try and hold above 95.63 (April's low) this morning by Mizuho Corporate Bank
Dropping quickly into a large Ichimoku ‘cloud', below the moving averages which are signalling a short position, and testing trendline support. Expect prices to try and hold above 95.63 (April's low) this morning and maybe all day as the US dollar is close to oversold.
GBP/USD
GBP/USD: Pound reaches a fresh 4−month high at 1.5353 by FXstreet.com
The Pound remains moving below the fresh 4−month high at 1.5350 reached on Monday's U.S. session, right below1.5370 (Jan 8 high). At the moment, the Pound moves in a narrow range both sides of 1.5300.
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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 13 | 09:00 | Industrial Production w.d.a. (YoY) | -17.6% | -18.4% |
| May 13 | 09:00 | Industrial Production s.a. (MoM) | -1.0% | -2.3% |
EMU economic indicators - EMU industrial production (March): down by BHF−Bank
French, Italian and EMU industrial production will probably have continued declining in March, because most of the correlated indicators deteriorated.
[ Full Story ]Top Market Movers Review
Japan ADJUSTED CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 12 | 23:50 | Adjusted Current Account | ¥902.3B | ¥513.5B | ¥685.0B |
Japan Mar Unadjusted Curr Acct Surplus Y1.486T; −48.8% Y/Y (Dow Jones)
Japan's March current account, the broadest measure of the economy's trade with the rest of the world, logged a 48.8% on−year drop in surplus as exports and imports remained weak due to the global economic slump. The current account fell to Y1.486 trillion before seasonal adjustments, the Ministry of Finance said Wednesday.
[ Full Story ]- Read the Current Account data at Japanese Ministry of Finance
- Japan March Current Account Table Of Data (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 12 | 23:50 | JP | Bank Lending (YoY) (Apr) | 3.4% | 3.4% | |
| 23:50 | JP | Trade Balance − BOP Basis (Mar) | ¥132.9B | ¥137.1B | ¥202.1B | |
| May 13 | 05:00 | JP | Eco Watchers Survey: Current | 34.2 | 30.1 | 28.4 |
| 05:00 | JP | Eco Watchers Survey: Outlook | 39.7 | 35.8 | ||
| 08:00 | JP | BoJ's Governor Shirakawa Speech | ||||
| 09:00 | EMU | Industrial Production s.a. (MoM) (Mar) | -1.0% | -2.3% | ||
| 09:00 | EMU | Industrial Production w.d.a. (YoY) (Mar) | -17.6% | -18.4% | ||
| 09:30 | UK | Bank of England Quarterly Inflation Report | ||||
| 09:30 | UK | BoE's Governor King Speech | ||||
| 12:30 | US | Import Price Index (MoM) (Apr) | 0.4% | 0.5% | ||