Tuesday, May 19, 07:40 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
The Trader's Edge: AUD/USD − A second look by Ross Yamashita
Pulling up the AUD/USD daily chart, we see that we are forming what seems to be the final wave of a corrective movement. The last couple of candle formations along with looking at the shorter term charts shows that there is still potential up movement for this currency pair.
The Advisor Blog: Usd/Jpy regaining some ground by Valeria Bednarik
Forex Trading Today: The Yen Crosses Look For Corrective Strength in the Near-Term by Tim Salem
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Advanced APF Methods To Determine The Price Momentum
Expert: Sunil Mangwani
Start: Tue, May 19, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, May 19, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, May 19, 09:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN | |
| Tue, May 19, 10:00 GMT | Advanced Technical Analysis | Peter Leonidou | WBN |  |
| Tue, May 19, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Tue, May 19, 12:00 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
Forex: GBP/USD: Pound reaches 1.5447; 2009 high so far − UPDATE
FXstreet.com − Recovery from yesterday's low art 1.5115 has extended above 1.5374 (Jan 8 high/2009 high) ahead of the European session opening, and the Pound has reached a maximum level at 1.5447, the highest level in the year 2009 so far.
Resistance levels, at this point, could lie at 1.5535(Nov 25 and 27 high) and above there, 1.5600 and 1.5725 (Dec 17 high). On the downside, support levels lie at 1.5355 (May 12 high), and below there, 1.5285 (May 15 high) and 1.5255 (May 8 high).
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EUR/USD
Currency Majors Technical Perspective − Bullish Sentiment sees continued Adherence to the Hourly Uptrend Channel by FXstreet.com Independent Analyst Team
Bullish Sentiment sees continued Adherence to the Hourly Uptrend Channel, as Consolidation takes place within a Range of 1.3549 Dynamic Support and 1.3580 Dynamic Resistance.
USD/JPY
Daily Technical Analysis − Bouncing from the bottom of the Ichimoku ‘cloud' by Mizuho Corporate Bank
Bouncing from the bottom of the Ichimoku ‘cloud', retracing 38% of the most recent drop. Now watch for signs of topping, probably between 96.65 and 97.25. Then back down to re−test the bottom of the ‘cloud'.
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
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Cons. | Previous | |
| May 19 | 09:00 | ZEW Survey − Economic Sentiment | 20 | 13 |
EMU economic indicators - German ZEW economic sentiment (May): improvement by BHF−Bank
The German ZEW economic sentiment might have improved again in May, just like the ifo business expectations and the US ISM manufacturing index did in April. German yield spreads have widened somewhat, as short−term interest rates have continued declining and long−term rates have gone up.
[ Full Story ]Top Market Movers Review
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 18 | 17:00 | NAHB Housing Market Index | 16 | 16 | 14 |
Morning Report - US NAHB housing market index rises from 14 to 16 in May by Westpac Institutional Bank
US NAHB housing market index rises from 14 to 16 in May. Less pessimistic homebuilder sentiment adds to the body of evidence suggesting the US housing market might be finding a base.
[ Full Story ]- Read the Housing Market Index data at NAHB
- NAHB: US Home Builders' Confidence Grows 2nd Month In Row (Dow Jones)
Daily Global Commentary - Homebuilders Survey Records Improvement, Will New Home Sales Follow? by Northern Trust
Daily Market Report - Economic releases include U.S. NAHB Housing Market Index by Wachovia
Friday Notes - NAHB housing market index: Builders confirm less pessimistic mood by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 19 | 04:30 | JP | Capacity Utilization (Mar) | 0.8 | -11.9 | |
| 04:30 | JP | Industrial Production (MoM) (Mar) | 1.6% | 1.6% | -9.4% | |
| 04:30 | JP | Industrial Production (YoY) (Mar) | -34.2% | -38.4% | ||
| 06:00 | JP | Machine Tool Orders (YoY) (Apr) | -80.4% | -85.2% | ||
| 08:30 | UK | Consumer Price Index (MoM) (Apr) | 0.4% | 0.2% | ||
| 08:30 | UK | Consumer Price Index (YoY) (Apr) | 2.4% | 2.9% | ||
| 08:30 | UK | Core Consumer Price Index (YoY) (Apr) | 1.7% | 1.7% | ||
| 08:30 | UK | Retail Price Index (MoM) (Apr) | 0.2% | 0.0% | ||
| 08:30 | UK | Retail Price Index (YoY) (Apr) | -1.2% | -0.4% | ||
| 09:00 | DE | ZEW Survey − Economic Sentiment (May) | 20 | 13 | ||