Wednesday, Jun 03, 07:46 GMT
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Forex Blogs
Forex Trading Today: AUD/USD At Risk for Correction as Deep Appreciation Continues by Tim Salem
We check back in on One of our Three Units from our previous Big Post Update, and with the Aussie Dollar being as I said… In my personal View… the Strongest of the "Six Sibling" Pairs… A significant Correction may be "looming on The Horizon".
The Day Job Trader: Another Day, Another Rally… by Ryan O'Keefe
The Disciplined Trader: EUR/USD update - Looking for a topby Pierre Charlebois
FX Market Readings: A day of swing and slide by Dr. Sivaraman
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jun 3, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jun 3, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jun 3, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jun 3, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jun 3, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Jun 3, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
Current Session: Europe
Bullish Sentiment of Price, Anchored by the Macro−Uptrend Channel
FXstreet.com Independent Analyst Team − Bullish Sentiment of Price continues to be Anchored by the Macro−Uptrend Channel, as Daily Dynamic Support sees 1.6553 with the Hourly 20SMA and RSI Slope and Readings see slightly Overbought Levels at "72". Appreciation looks to find 1.6674 Daily Static Resistance, followed by 1.6719 and 1.6767 in the Near−Term.
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EUR/USD
Forex Chartist Technical Analysis − Euros caught up yesterday, coming higher to 1.4335 by Charmer Charts.com
Euros caught up yesterday, coming higher to 1.4335. Now unless buyers can break and hold above this resistance you will have a small top in place and this leaves room for sellers to have a corrective move lower today.
USD/JPY
Currency Trading News − A push above 97.25 or back under 93.85 required for a clearer bias by DailyFX
The market has been well offered over the past several weeks but setbacks have now stalled out just shy of next key support by 93.55 from March, which guards against the critical 87.15 multi−year trend lows.
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
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jun 3 | 09:00 | Gross Domestic Product s.a. (QoQ) | -2.5% | -2.5% |
| Jun 3 | 09:00 | Gross Domestic Product s.a. (YoY) | -4.6% | -4.6% |
Friday Notes - GDP forecast is −0.6% q−o−q by UniCredit Group
The drop in Q1 GDP was most likely driven by tumbling exports and fixed investment, similar to what happened at the end of 2008. Inventories should have been a (possibly significant) drag, while private consumption probably continued to fall, but at a relatively contained pace. The recent improvement in business surveys points to a clearly less severe pace of GDP contraction in Q2. Our forecast is −0.6% q−o−q.
[ Full Story ]Top Market Movers Review
Australia GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 3 | 01:30 | Gross Domestic Product (YoY) | 0.4% | -0.4% | 0.3% |
| Jun 3 | 01:30 | Gross Domestic Product (QoQ) | 0.4% | -0.2% | -0.6% |
DATA SNAP: Australian 1Q GDP +0.4% Vs 4Q (Dow Jones)
Australia's average measure of gross domestic product rose 0.4% in the first quarter of 2009 from the fourth quarter 2008 and rose 0.4% from the year−earlier period, the Australian Bureau of Statistics said Wednesday.
[ Full Story ]- Read the GDP data at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 2 | 21:00 | US | ABC/Washington Post Consumer Confidence (May 31) | -49 | -47 | |
| 22:01 | UK | Nationwide Consumer Confidence (May) | 53 | 52 | 51 |
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| Jun 3 | 01:30 | AU | Gross Domestic Product (QoQ) (1Q) | 0.4% | -0.2% | -0.6% |
| 01:30 | AU | Gross Domestic Product (YoY) (1Q) | 0.4% | -0.4% | 0.3% | |
| 07:55 | DE | Purchasing Manager Index Services (May) | 46 | 46 | ||
| 08:00 | EMU | Purchasing Manager Index Services (May) | 44.7 | 44.7 | ||
| 08:30 | UK | Purchasing Manager Index Services (May) | 49.5 | 48.7 | ||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (1Q)  | -2.5% | -2.5% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (1Q) | -4.6% | -4.6% | ||
| 09:00 | EMU | Producer Price Index (MoM) (Apr) | -0.8% | -0.7% | ||
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