Tuesday, May 26, 11:31 GMT
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Forex Blogs
Trading for a living: 1, 2, 3… Frankfurt to London = 100 pips by David Aranzabal
Today we got an amazing opening at the Frankfurt opening in Cable. The setup was very easy and It's been a pattern that shows up very often in Cable (This month several times, even yesterday again…). Let's review the setup:
− 60 min. Topping formation (4th top).
− Just at Frankfurt opening, price touches the 60m resistance level 1.5950
FX Market Readings: Extended drop by Dr.S. Sivaraman
CEO's Weblog: FINMA suspends all Crown Forex S.A activities, including trading by Francesc Riverola
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Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, May 26, 14:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, May 26, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, May 26, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, May 26, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Tue, May 26, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Tue, May 26, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe − U.S.
Daily Trading Forecast − USD Index Meets Support
Swiss e Trade AG − The trade−weighted Dollar−Index, which provides the best indicator for the dollar‘s future direction, seems to have found some firmer footing after its fall for the last 20 days.
Cable is hovering above its longer−term support area at 1.5750 in early European trading, right now priced at 1.5785. We expect lower prices in today's trading, reaching levels around 1.5700, while the upside is limited at 1.5830.
EUR/USD
Support levels at 1.3950−70 are breached by FXGreece
Today starts negative for euro after yesterday's bank holiday and first important support levels at 1.3950−70 are breached. A possible reversal candle formation in the daily chart would indicate that the rise from April lows is completed and lower levels will be back into focus.
EUR/GBP
EURGBP Weekly Technical Chart by Chart−Workshop
EUR/GBP Weekly Candlestick Chart. The 10 week and 30 week moving averages have crossed negative but the 30 week moving average is still pointing upwards!
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
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US CONSUMER CONFIDENCE
| Date (GMT) | Event | Cons. | Previous | |
| May 26 | 14:00 | Consumer Confidence | 42.0 | 39.2 |
US economic indicators - Consumer confidence indicators (May): still at low levels despite improvement by BHF−Bank
Despite the ongoing deterioration on the labour market, the Conference Board's consumer confidence rose by 12.3 points to 39.2 in April. But the indicator remained very low compared to the University of Michigan's (UMI) consumer sentiment, and we thus forecast that consumer confidence will have increased further, albeit only slightly, to about 42.0 in May.
[ Full Story ]Top Market Movers Review
EMU CURRENT ACCOUNT N.S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 26 | 08:00 | Current Account s.a | -€6.5B | -€7.5B | -€7.8B |
| May 26 | 08:00 | Current Account n.s.a | -€3.5B | - | -€2.1B |
DATA SNAP: Euro−Zone Current Account Deficit Narrows In March (Dow Jones)
The euro zone's current account deficit narrowed for the fourth consecutive month in March, with the income balance swinging to a small surplus for the first time in over a year, data showed Tuesday.
[ Full Story ]- Read the Current Account data at ECB
- 3rd UPDATE: Euro−Zone Curr Acct Deficit Narrows In March (Dow Jones)
- 2nd UPDATE: Euro−Zone Curr Acct Deficit Narrows In March (Dow Jones)
- UPDATE: Euro−Zone Current Account Deficit Narrows In March (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 26 | 06:00 | DE | Gross Domestic Product n.s.a (YoY) (1Q) | -6.7% | -6.7% | -1.7% |
| 07:15 | CH | Employment Level (QoQ) (1Q) | 3.96M | 3.92M | 3.96M | |
| 08:00 | EMU | Current Account n.s.a (Mar) | €-3.5B | -€2.1B |
||
| 08:00 | EMU | Current Account s.a (Mar) | €-6.5B | -€7.5B | -€7.8B |
|
| 09:00 | EMU | Industrial New Orders (YoY) (Mar) | -26.9% | -30.1% | -34.2% |
|
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Mar) | -0.8% | 1.0% | 0.0% |
|
| 13:00 | US | S&P/Case−Shiller Home Price Indices (Mar) | -18.3% | -18.6% | ||
| 14:00 | US | Consumer Confidence (May) | 42.0 | 39.2 | ||
| 14:00 | US | Richmond Fed Manufacturing Index (May) | -7 | -9 | ||
| 21:00 | US | ABC/Washington Post Consumer Confidence (May 24) | -45 | |||
Educational Resources
Currency Trading and Intermarket Analysis
Ashraf Laidi's book is the first work to provide illustrative and indepth analysis on the evolving relationships shaping currencies, metals, energy and agricultural commodities, while devoting full chapters on the increasingly important topics of risk appetite, yield curves and how these underpin currencies.
Ashraf Laidi will be Key Speaker at the ITC'09 Barcelona
Check his report Weekly Fx Strategy