Thursday, May 28, 07:42 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
The Trader's Edge: CAD/CHF − Pre−European Opening by Ross Yamashita
Here is a CHF analysis before the opening of the European session. Looking at the CAD/CHF daily chart, it looks like we're forming a potential Ending Diagonal. In the shorter−term, look for a trade up − which looks to be verified by the shorter term charts. After the currency pair tops out, look for a sharp movement down.
The Day Job Trader: Japan Sees Continued Improvement by Ryan O'Keefe
Forex Trading Today: EUR/USD Looks to Correct as The NZD/JPY Looks for Appreciation by Tim Salem
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Live Sessions Schedule
Correlations: commodities and small dollars
Expert: Valeria Bednarik
Start: Thu, May 28, 11:00 GMT
Type of Session: Webinar
Review and expectations of Forex market for this year − 2009
Expert: Dr.S.Sivaraman
Start: Thu, May 28, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 28, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, May 28, 11:00 GMT | Correlations: commodities and small dollars | Valeria Bednarik | WBN |  |
| Thu, May 28, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Thu, May 28, 13:00 GMT | Review and expectations of Forex market for this year − 2009 | Dr.S.Sivaraman | WBN | |
Current Session: Europe
Bullish Momentum continues as Price stages a new Upleg from 95.15
FXstreet.com Independent Analyst Team − Bullish Momentum continues as Price stages a significant new Upleg from the 95.15 Daily Pivot Area. RSI Reading and Slope are at "80", so Over−Extension is evident where a Corrective Retracement in the Immediate−Term from the Daily Static Resistance at 96.50 should be seen. Corrective Hourly Sentiment will find the 96.00 Figure, and then Dynamic Resistance−turned−Support at 95.66 if the Area can Hold.
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EUR/USD
Euros baulked at 1.4000 yesterday and sellers soon took the reins by Charmer Charts.com
Euros baulked at 1.4000 yesterday and sellers soon took the reins and pushed this lower to 1.3822. Now this morning weakness has followed through with 1.3793 the low.
GBP/USD
Daily Technical Analysis − Cable is overbought but bullish momentum is strong by Mizuho Corporate Bank
From most reviled to favourite son in the space of six months as many re−think and cut Sterling positions. Yesterday's ‘spike high' after the ‘spike low/doji' candles the two previous days underline the fact this market is looking for direction.
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 UNEMPLOYMENT RATE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 28 | 07:55 | Unemployment Change | 64K | 58K |
| May 28 | 07:55 | Unemployment Rate s.a. | 8.4% | 8.3% |
EMU economic indicators - German adjusted unemployment (May): sharper rise by BHF−Bank
Due to short−time working allowances, for which the government has extended the maximum entitlement period to two years, German unemployment has only risen moderately so far. According to the Federal Employment Agency, if it had not been for short−time working, the April unemployment level would have been about 450,000 higher.
[ Full Story ]Top Market Movers Review
Japan RETAIL TRADE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 27 | 23:50 | Retail Trade s.a (MoM) | 0.6% | - | -1.1% |
| May 27 | 23:50 | Retail Trade (YoY) | -2.9% | -3.2% | -3.8% |
| May 27 | 23:50 | Large Retailer's Sales | -6.7% | - | -8.1% |
Daily FX Market Commentary - Retail sales in Japan show first monthly increase by Danske Bank A/S
According to data released in Japan overnight retail sales increased 0.6% m/m (consensus: 0.5%) in April. This is the first monthly increase in retail sales in Japan since August last year and in line with other recent data suggests at least some stabilisation in the Japanese economy.
[ Full Story ]- Read the Retail Trade data at METI
- Japan Apr Overall Retail Sales −2.9% On Year (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 28 | 01:30 | AU | Private Capital Expenditure (1Q) | -8.9% | -6.0% | 7.3% |
| 03:00 | NZ | M3 Money Supply (YoY) (Apr) | 7.5% | 7.2% |
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| 06:00 | DE | ILO Unemployment Rate (Apr) | 7.7% | 7.7% | 7.6% | |
| 06:15 | CH | Trade Balance (Apr) | 2.56B | 0.11B | 0.15B |
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| 07:55 | DE | Unemployment Change (May) | 64K | 58K | ||
| 07:55 | DE | Unemployment Rate s.a. (May) | 8.4% | 8.3% | ||
| 09:00 | EMU | Consumer Confidence (May) | -31 | -31 | ||
| 09:00 | EMU | Economic Confidence (May) | 69.0 | 67.2 | ||
| 09:00 | EMU | Industrial Confidence (May) | -33 | -35 | ||
| 10:00 | UK | CBI Distributive Trades Survey − Realized (MoM) | 3 | |||
PSYCHOLOGY
Listen to Steven Croft's podcast about trading strategies and psychology matters. Listen now! Here are the topics for this week:
− Step Outside Of Your Comfort Zone
− Become a Great Trader Without Trading
− Building a Bridge To New Programs
− The Old Is Forever New
− Action Needs To Conquer Caution