Tuesday, Jun 02, 07:51 GMT
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Forex Blogs
The Day Job Trader: Long USD/CAD Is Tempting, But I'm a Trendy Guy… by Ryan O'Keefe
Another Monday evening, another trading week begins. There is a plethora of fundamental news on the docket this week from rate statements to employment data. It will be interesting to see if the Dollar smack down continues unabated among the news sentiment.
Forex Trading Today: The Appreciation of EUR/USD, AUD/USD, Gold, and Oil by Tim Salem
Trade Setups: Forex Video - 02 June ‘09 - Analysis by Phil Newton
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Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Jun 2, 14:00 GMT
Type of Session: Webinar
Understanding Market Rhythm
Expert: Lea Peters
Start: Tue, Jun 2, 19:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jun 2, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Jun 2, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN |  |
| Tue, Jun 2, 15:00 GMT | Correlations: commodities and small dollars | Valeria Bednarik | WBN | |
| Tue, Jun 2, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe
The pound is now back to where it was in November
Mizuho Corporate Bank − Soaring, partly because chart levels between 1.6000 and 1.7000 are myriad but poor. The pound is now back to where it was in November on the Bank of England's Trade Weighted basis. One−month at−the−money implied volatility has risen to 16.00% and is expected to squeeze to 20.00%.
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EUR/USD
Daily Recommended Trades − Current price action seem to point downwards by E−Forex
Yesterday's retreat from 1.4250 doesn't suggest much as the euro managed to close slightly higher but current price action seem to point downwards, intra−day sentiment being slightly bearish at the time of this writing.
USD/JPY
Gold, Oil and USD/JPY − USD/JPY found support right at our level of 94.38 by Charmer Charts.com
USD/JPY found support right at our level of 94.38 and the market shot up from here. It came to a halt right at our strong resistance level of 96.70/95.
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 PENDING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jun 2 | 14:00 | Pending Home Sales (MoM) | 0.4% | 3.2% |
US economic indicators - Pending home sales will have risen again by BHF−Bank
Pending home sales went up in February and March, and due to increased housing affordability, tax incentives and low mortgage rates, we forecast that pending home sales will have risen again by about 0.5% mom in April.
[ Full Story ]Top Market Movers Review
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 2 | 04:30 | RBA Interest Rate Decision | 3% | 3% | 3% |
RBA Cash Rate unchanged at 3.00% (FXstreet.com)
The following statement is from the Reserve Bank of Australia Governor Glenn Stevens : At its meeting today, the Board decided to leave the cash rate unchanged at 3.0%. Evidence has continued to emerge that the global economy is stabilizing, after a sharp contraction during the December and March quarters.
[ Full Story ]- Read the Rate data at Reserve Bank of Australia
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 2 | 04:30 | AU | RBA Interest Rate Decision | 3% | 3% | 3% |
| 05:45 | CH | Gross Domestic Product (YoY) (1Q) | -2.4% | -1.8% | -0.6% | |
| 05:45 | CH | Gross Domestic Product s.a. (QoQ) (1Q) | -0.8% | -1.5% | -0.3% | |
| 07:30 | CH | SVME − Purchasing Managers' Index (May) | 39.8 | 36.5 | 34.7 | |
| 08:30 | UK | Consumer Credit (Apr) | £0.1B | £0.1 | ||
| 08:30 | UK | M4 Money Supply (MoM) (Apr) | 0.3% | |||
| 08:30 | UK | M4 Money Supply (YoY) (Apr) | 18.2% | |||
| 08:30 | UK | Mortgage Approvals (Apr) | 39K | |||
| 08:30 | UK | PMI Construction (May) | 38.1 | |||
| 09:00 | EMU | Unemployment Rate (Apr) | 9.1% | 8.9% | ||
Educational Resources
Educator of the Month: Markus Heitkoetter
Markus Heitkoetter is an experienced trader and CEO of Rockwell Trading Inc. He's a close contributor of FXstreet.com for about 3 years now. He's regularly presenting Live webinars here and will also be Key Speaker at FXstreet.com's International Traders Conference in Barcelona on October 14−16. Check his author's page to know more about him and his contents!
Highlighted resources
Forex Trading Strategies: Conservative trading strategy - Video, report and trading plan template
Conquering Fear and Greed: How to Deal With Emotions When Trading - Webinar recording
Facts, Fiction and Truth About Day Trading - Webinar recording
The Complete Guide to Day Trading: A Practical Manual from a Professional Day Trading Coach - Book
International Traders Conference (ITC 09) Barcelona - Markus will be Key Speaker at the event