Wednesday, May 27, 07:58 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: AUD/JPY Holds The 75.00 Handle as Consolidation Continues by Tim Salem
A few Hours after our Last Post, our Aussie Yen Friend is still holding tightly to the Clear 75.00 Handle of Daily Static Resistance on the IntraDay Hourly View. Most Asian Bourses picked up where the Bullish Sentiment of the Dow and NASDAQ left off in Overnight Sessions, as The Dollar and Yen continue with subtle Ranging Accumulation in most Units.
The day job trader: Selling Pivot for USD/JPY? by Ryan O'Keefe
Chartology: Follow-up to 240 USD/JPY by Raghee Horner
Find other fellow traders to share your comments and market view in the FOREX FORUM
CEO's Weblog: SEC Halts Foreign Exchange Offering Fraud by College Professor and Houston-Based Lawyer
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 27, 09:00 GMT
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Type of Session: Webinar
Trading Waves with Fibonacci
Expert: Phil Newton
Start: Wed, May 27, 10:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 27, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 27, 10:00 GMT | Trading Waves with Fibonacci | Phil Newton | WBN | |
| Wed, May 27, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, May 27, 13:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN |  |
Current Session: Europe
EUR/USD: Market looking for direction
Mizuho Corporate Bank − Yesterday's small ‘spike low/hanging man' candle hints at a market looking for direction (here and in several major currencies too). As we move towards the pivotal 1.4200 area we feel that implied volatility should leap higher on a sustained break above 15.00%.
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GBP/USD
Currency Majors Technical Perspective − Bearish Hourly Sentiment follows with a Breach of Daily Dynamic Resistance at 1.5946 by FXstreet.com Independent Analyst Team
Bearish Hourly Sentiment follows with a Breach of Daily Dynamic Resistance at 1.5946 with the Daily Pivot to follow at 1.5890. The Hourly 20SMA is providing slight Divergence in Slope, as is the case with The Euro as well, which Confirms The Weight of Price.
USD/JPY
Forecast on USD Majors − The Hourly Oscillators are bullish; bears have to be Sidelined by Precise Trader
The patterns are suggesting bullish and giving a price target of 9580 and 9660 level. We prefer to be cautiously long as the price is choppy , as long as 9480 is not breached expect the price to move higher.
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 CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 27 | 06:00 | Consumer Price Index (MoM) | 0.1% | 0.0% |
| May 27 | 06:00 | Consumer Price Index (YoY) | 0.2% | 0.7% |
EMU economic indicators - German CPI inflation (May): decreasing by BHF−Bank
The preliminary results for national German CPI for May are due to be released on Wednesday at the latest. We expect German consumer prices to have gone up by 0.1 % month−on−month; the annual rate would then decrease to 0.2%. On the energy side, there are mixed signals: gasoline and heating oil prices have gone up since April, whereas gas prices are expected to have gone down.
[ Full Story ]Top Market Movers Review
Australia CONSTRUCTION WORK DONE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 27 | 01:30 | Construction Work Done | -3.7% | -3.0% | 2.3% |
Australian 1Q Building Activity Falls 4.4% Vs 4Q (Dow Jones)
The value of building work completed in Australia fell 4.4% to A$17.43 billion in the first quarter of 2009 from the fourth quarter 2008, the Australian Bureau of Statistics said Wednesday. The value of total construction, which includes building and engineering work, during the quarter fell 3.7% from the previous quarter to A$34.47 billion.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 27 | 01:30 | AU | Construction Work Done (1Q) | -3.7% | -3.0% | 2.3% |
| 03:00 | NZ | Business Confidence (May) | 1.9 | -14.5 | ||
| 07:58 | DE | Consumer Price Index (MoM) (May)  | 0.1% | 0.0% | ||
| 07:58 | DE | Consumer Price Index (YoY) (May) | 0.2% | 0.7% | ||
| 08:30 | UK | BBA Mortgage Approvals | 29.1K | 26.1K | ||
| 11:00 | US | MBA Mortgage Applications (May 22) | 2.3% | |||
| 14:00 | US | Existing Home Sales (Apr) | 4.65M | 4.57M | ||
| 14:00 | US | Existing Home Sales (MoM) (Apr) | 1.8% | -3.0% | ||
| 14:00 | US | Housing Price Index (MoM) (Mar) | 0.2% | 0.7% | ||
| 23:50 | JP | Large Retailer's Sales (Apr) | -8.1% | |||
Currency Trading and Intermarket Analysis
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