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Trader's eye on majors - short term

Valeria Bednarik - Dollar corrects lower after yesterday’s gains. No time to call for bottoms/tops just yet.


GBP/USD: corrects higher, far from reversing by FXstreet.com

EURUSD Spot by Amplify Trading

Dollar Dives as Correction Sets In by BK Asset Management

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Latest from the Forex Social Network

photogenxtrader commented a photo 1 minute ago 2013-05-21_gbpusd 1hr
The crazy sister.

photoBrian Twomey commented a blog post 17 minutes ago Inside the Currency Market: Signal, Noise and Range Prices
Last Max, Allow the academics to teach you not the market people that seek to profit monetarily or gain influence from other's ignorance. Boris Schlos...

photoBrian Twomey commented a blog post 32 minutes ago Inside the Currency Market: Signal, Noise and Range Prices
Hi Max, Peter's strategy using Regression lines is a reversion to the mean strategy, the mean is the actual average at whatever time period. It works...

photoJohniFx commented a photo 48 minutes ago Chart of the Day - EUR/JPY Finally the Top?
nice chart :)

Webinars Schedule

Navin PrithyaniHunting Your Stops Is In My Best Interest
Expert: Navin Prithyani
Start: Thu, May 23, 13:00 GMT

Type of Session: Webinar


Brandon Wendell, CMTThe Proper Way to Use Technical Indicators
Expert: Brandon Wendell, CMT
Start: Thu, May 23, 14:00 GMT

Type of Session: Webinar


Sponsored by
Thu, May 23, 11:00 GMTCharting the CourseCurt WehrleyWBNSponsored by
Thu, May 23, 12:00 GMTTrading Clinic: USD/JPY Steve RuffleyWBNSponsored by
Thu, May 23, 13:00 GMTHunting Your Stops Is In My Best InterestNavin PrithyaniWBNSponsored by
Thu, May 23, 14:00 GMTThe Proper Way to Use Technical IndicatorsBrandon Wendell, CMTWBNSponsored by
Thu, May 23, 15:00 GMTLive Trading Room Mark De La PazWBNSponsored by
[ View All ]

Current Session: Europe

GBP/USD: corrects higher, far from reversing

GBP/USD Spot


The GBP/USD corrects higher this Thursday, after reaching 1.5013 with the European opening. Risk aversion extended to Asian session, with the Nikkei losing over 7% after some initial gains, favoring the fall.

EUR/USD: Intraday bearish reversal

USD/JPY: A top has been set at 103.72

Charting the Market Movers

EUR USD, Hourly


EUR/USD

Event of the Day

UK GROSS DOMESTIC PRODUCT

Date (GMT)EventActualCons.Previous
May 2308:30Gross Domestic Product (QoQ)0.3%0.3%-0.3%

UK: Annual GDP expands 0.6% in Q1, as expected (FXstreet.com)

[ Full Story ]

Event of the Week

US FED'S BERNANKE TESTIFIES

Date (GMT)EventActualCons.Previous
May 2214:00Fed's Bernanke testifies---

Bernanke warns ‘premature' Fed tightening could stifle US economic recovery (FXstreet.com)

[ Full Story ]

Morning Report - US existing home sales grew 0.6% by Westpac Institutional Bank

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

Economic Events

Date (GMT)CountryEventActualCons.Previous
May 2308:30UK Gross Domestic Product (QoQ) (1Q) 0.3%0.3%-0.3%
08:30UK Gross Domestic Product (YoY) (1Q) 0.6%0.6%0.2%
08:30UK Total Business Investment (QoQ) (1Q) Preliminary Release-0.4%1.7%-0.8%
10:05US Fed's Bullard speech 
12:30US Continuing Jobless Claims (May 11) 3.000M3.009M
12:30US Initial Jobless Claims (May 17) 345K360K
12:58US Markit Manufacturing PMI (May) Preliminary Release51.852.1
13:00US Housing Price Index (MoM) (Apr) 0.8%0.7%
14:00US American Petroleum Institute Monthly Report  (Apr) 
14:00US New Home Sales Change (MoM) (Apr) 1.9%1.5%
[ View All ]

Educational Resources

Targeting entries with inside price bars

FuturesMag.com − Observe any world−class sprinter in training. He will speed down a track in obsessive pursuit of a faster time but occasionally will break and rest before resuming his charge. Often, its during these pauses that the athlete recovers his physical stamina for a perfectly timed surge designed to deliver a superior finish.

Also check:

Types of Entries: Short the Breakdown & Short the Rallies by Steve Misic

Capturing breakouts with precise entries by Billy Williams

Forex Glossary

Spread Order

A simultaneous long and short position order attempts to profit via the price differential or "spread" between two prices. This type of order can be established between different months of the same commodity, between related commodities or between the same or related commodities traded on two different exchanges.

Fill or Kill

A FOK order is used by traders wishing an immediate fill, but at a specified price. The dealer will bid or offer the order three times and if he can get the limit price or better, there and then the order will be placed (filled); if it is not possible to get the desired limit price it will be immediately cancelled (killed).
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