Monday, May 18, 07:24 GMT
EUROPEAN Trading Newsletter
To Get Started
- NEW: Live Webinars during the Asian Trading Session: Markets Commentaries at 5 and 6 GMT. Check our schedule!
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. Read it now!
- Webinar Videos: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: The Dollar and The Yen Continue Their Visit with EUR/USD and AUD/JPY by Tim Salem
Greetings, Everyone and Welcome to a New Week! It appears our "Risk Aversion" Friends, The Dollar and The Yen, are not quite done with their Visit on more of a Macro−View! While they seem to disappear into the Shadows here and there, they have not quite left for their Long and Indeterminate Vacation.
FxBootcamp: Pre London Outlook May 18th 2009 by David R Pegler
FX Path: Forex Levels to Watch (Week of May 18-22, 2009) by James Chen
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, May 18, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 18, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 18, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, May 18, 10:00 GMT | Advanced Technical Analysis  | Peter Leonidou | WBN |  |
| Mon, May 18, 12:00 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 18, 12:30 GMT | Trading Forex Volatility | James Chen | WBN | |
Current Session: Europe
EUR/USD: Price currently correcting to the Support Level at 1.3463
FXstreet.com Independent Analyst Team − Bearish Sentiment sees Price currently correcting to the Support Level at 1.3463, where Continuation sees 1.3488 Dynamic Resistance from the Hourly 20SMA, and the 1.3510/1.3519 Cluster Area of the 20SMA/200SMA Bearish Cross which is still valid. This should keep Pressure on Price to below the Daily Pivot at 1.3530 on any Corrections, although if Breached, the Dynamic Resistance Areas of 1.3549 and 1.3580 may be seen.
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GBP/USD
Forex Chartist Technical Analysis − Sterling faltered at 1/5390 and sellers have pushed this lower to 1.5114 by CMS Forex
Sterling faltered at 1/5390 and sellers have pushed this lower to 1.5114 overnight. Buyers have been seen, and currently buyers are nudging closer to the 1.5180/85 resistance.
USD/JPY
Market Session Recaps − USD/JPY opened the session about 40 pips lower than the Friday close by FOREX.com
USD/JPY opened the session about 40 pips lower than the Friday close and continued to drift lower to finally hit bottom at 94.55, representing a level not seen in this pair since the end of March.
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
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 18 | 17:00 | NAHB Housing Market Index | 16 | 14 |
Friday Notes - NAHB housing market index: Builders confirm less pessimistic mood by UniCredit Group
Home−builders are experiencing the worst slump in their lifetime. But the degree of pessimism is diminishing. That doesn't mean that there will be a recovery in residential construction any time soon. That won't happen until next year or 2011.
[ Full Story ]Top Market Movers Review
Japan CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 18 | 05:00 | Consumer Confidence | 33.2 | 31.0 | 29.6 |
Japan Govt: Consumer Sentiment Index 32.4 Apr Vs 28.9 Mar (Dow Jones)
Japanese consumers were more upbeat for the fourth straight month in April, the government said Monday, as some signs that the country's recession is moderating lifted sentiment. The Cabinet Office's consumer confidence survey index, which measures consumers' economic outlook for the coming six months, rose by 3.5 points to 32.4, compared with 28.9 in March.
[ Full Story ]- Read the Confidence data at ESRI
UK RIGHTMOVE HOUSE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 17 | 23:01 | Rightmove House Price Index (MoM) | 2.4% | - | 1.8% |
UK Rightmove May House Price Index +2.4% MM, −6.2% YY (Dow Jones)
U.K. house prices rose on the month for the fourth straight month in early May, and at the highest pace for the month of May since the survey began in 2003, as some sellers are becoming a little more optimistic about the housing market, property Web site Rightmove said Monday.
[ Full Story ]- Read the House data at Rightmove
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 18 | 00:00 | CA | Victoria Day Market Holiday | |||
| 04:00 | JP | Tokyo Condominium Sales (YoY) (Apr) | -8.5% | -46.2% | ||
| 05:00 | JP | Consumer Confidence (Apr) | 33.2 | 31.0 | 29.6 | |
| 05:00 | JP | Consumer Confidence Households (Apr) | 32.4 | 32.1 | 28.9 | |
| 09:00 | EMU | Trade Balance s.a. (Mar) | -€3.8B | -€4.0B | ||
| 15:30 | US | Treasury's Geithner Speech | ||||
| 17:00 | US | NAHB Housing Market Index (May) | 16 | 14 | ||
| 22:10 | AU | RBA's Governor Glenn Stevens Speech | ||||
| May 19 | 01:30 | AU | RBA Meeting's Minutes | |||
| 04:30 | JP | Capacity Utilization (Mar) | -11.9 | |||