Friday, May 24, 11:26 GMT
U.S. Trading Newsletter
Follow us on Twitter • Subscribe to our RSS feeds • Visit our Facebook page
To Get Started
- WEBINAR RECORDING: The Proper Way to Use Technical Indicators by Brandon Wendell
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Trader's eye on majors - short term
Valeria Bednarik - Yen stronger, dollar weaker: European currencies take short term advantage.
GBP/USD: short term bullish above 1.5130 by FXstreet.com
Better IFO Helps EUR/USD But 1.30 Proves Elusive by BK Asset Management
The next phase of Abenomics by FOREX.com
Website improvements
Have you noticed? We have changed the organization of the Homepage and Technical subhome.
Latest from the Forex Social Network
Daologic commented a blog post 7 minutes ago EUR/USD & GOLD forecast 24.05.2013
I was out, I did not take this trade, unfortunately. Congratulations!
Francesc Riverola created a blog post 8 minutes ago M&G Investments - Japanese investors are not buying foreign bonds, they’re selling
M&G Investments - "One of the stories that has driven global financial markets higher for the past few months has been about how Japanese investors ar...
Francesc Riverola created a blog post 20 minutes ago BBH - EURUSD A weekly close above 1.3000 may help lift the technical tone
Brown Brothers Harriman - "The dollar is mixed against the majors heading into the US holiday weekend. The euro firmed a bit after the stronger than e...
Luke Sierpniak commented a blog post 33 minutes ago EU - Friday Intraday Time log
Hi Peter and all, just scalping this one up and down, not a bad day, FYI, 3006-3015 major res on mine, so a short from there good for at least 12-15 p...
Webinars Schedule
US Session Open
Expert: Ed Ponsi
Start: Fri, May 24, 13:00 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Knight
Start: Fri, May 24, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 24, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Fri, May 24, 13:00 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, May 24, 15:00 GMT | Fibonacci Friday | Andrei Knight | WBN | |
| Mon, May 27, 05:00 GMT | Asian Session: Live Market Analysis | Dr. S. Sivaraman | WBN | |
| Mon, May 27, 09:00 GMT | Weekly FX Briefing with Wmd | Will Hunting | WBN | |
Current Session: Europe
EUR/USD: it's all in the eye of the beholder
Last week update, purely focus on a technical perspective, showed how dangerously close the EUR/USD was to the neckline of a big H&S pattern in the daily chart. However, price was not even close to test the base of the figure, around 1.2740/50...
USDJPY: Still in the range above 100.81 low
Charting the Market Movers
EUR USD, Hourly
Event of the Day
US DURABLE GOODS ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 24 | 12:30 | Durable Goods Orders | - | 1.5% | -6.9% |
Event of the Week
US FED'S BERNANKE TESTIFIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 14:00 | Fed's Bernanke testifies | - | - | - |
Bernanke warns ‘premature' Fed tightening could stifle US economic recovery (FXstreet.com)
[ Full Story ]- Read the official report at Federal Reserve
- Bernanke warns against early tightening, looking for sustained improvement (Forex Live)
- Lots of wiggle room on taper for Bernanke (FXBriefs.com)
- Bernanke declines to comment when asked if he would accept another term (FXBriefs.com)
Flash Comment - FOMC: QE tapering is drawing closer by Danske Bank A/S
Asia Market Open - USD stays well bid after Bernanke testimony by FXWW
Daily Forex Market Wraps - Bernanke speaks, US dollar rallies, stocks and bonds sell off by Vantage FX
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 24 | 08:00 | DE | IFO − Current Assessment (May) | 110.0 | 107.2 | 107.3 |
| 08:00 | DE | IFO − Expectations (May) | 101.6 | 101.6 | 101.6 | |
| 08:30 | UK | BBA Mortgage Approvals (Apr) | 32.2K | 32.7 | 31.4K |
|
| 10:00 | DE | German Buba President Weidmann speech | ||||
| 12:30 | US | Durable Goods Orders (Apr) | 1.5% | -6.9% |
||
| 12:30 | US | Durable Goods Orders ex Transportation (Apr) | 0.5% | -1.4% | ||
| May 26 | 04:50 | JP | Bank of Japan Governor Kuroda Speech | |||
| 23:50 | JP | BoJ Monetary Policy Meeting Minutes | ||||
| May 27 | 00:00 | US | Memorial Day | |||
| 00:00 | UK | Spring Bank Holiday | ||||
Educational Resources
Setting the Stop Loss in a Breakout Scenario – Close or Far? 4 Factors
Forex Crunch − Where do you place your stop loss? Many traders struggle with this wonder, but it doesn't have to be so complicated. The answer to the question above depends on your system. Let's see what is a "close point", a "far point", and how you can better determine the placement.
Also Check:
Basic Trading Video: Stop Loss by Investopedia
Stop Losses by Brandon Wendell - Online Trading Academy
Forex Glossary
CandlestickThe candlestick symbol represents a narrow vertical rectangle (box) with short straight lines (called upper and lower "shadows" or "wicks") extending from the center of each end. The price range between the open and the close is plotted as a narrow rectangle and is referred to as the body. If the close is above the open, the body is white (or "unfilled"); if the close is below the open, the body is black (or "filled").
Renko Chart
A FOK order is used by traders wishing an immediate fill, but at a specified price. The dealer will Renko charts derived from the Japanese word renga, which means bricks, where each brick represents a fixed change in price. A Renko chart is similar to a Kagi chart except that the renko chart is drawn in the direction of the primary trend and has a fixed size. In this regard it is also similar to point and figure charts but without their asymmetric filter. This means, in order to generate an opposite color, the fixed brick size of the Renko must be exceeded. During a trend continuation, when the price goes above or below a previous price, a new brick is added to the chart.
This charts serve very well to analyze support and resistance levels as their show pure price action.