Wednesday, May 27, 11:40 GMT
U.S. Trading Newsletter
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Forex Blogs
Trading for a living: How Far Has The Currency Recovery Trade Come? by David Aranzabal
In the current market environment, for forex traders, being in the recovery trade means to be short U.S. dollars. In the last week of June 2008, the bear market was declared and in July, oil prices peaked at $147 a barrel.
CEO's Weblog: NFA Rule: 2-43 (b) - Is US retail FX going to be the same ever again? GFT Forex Gary Tilkin’s View by Francesc Riverola
Forex Trading Today: AUD/JPY Holds The 75.00 Handle as Consolidation Continues by Tim Salem
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Main Fundamental theme in the Currency Market
Expert: John Kicklighter
Start: Wed, May 27, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, May 27, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 27, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, May 27, 13:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN | |
| Wed, May 27, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, May 27, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
Current Session: Europe − U.S.
The pound has just passed the 1.6000 long−term resistance
Swiss e Trade AG − The pound has just passed the 1.6000 long−term resistance level in early Europen trading against the dollar and is currently priced at 1.6010. With the market heavily overbought, we do not expect much more upside potential at this point for today. A downward correction is more likely, gaining momentum during today, to the 1.5850 level.
EUR/USD
Forex Economic Analysis − EUR/USD: Struggling to break beyond 1.4025 dynamic resistance by Deltastock
The pair sharply reversed above the 1.3830 support zone and is currently struggling to break beyond 1.4025 dynamic resistance. Intraday bias is positive for 1.4050 and the overall uptrend is intact, aiming at 1.4162, en route to 1.4367.
GOLD
Daily Technical Analysis − Gold recovery, capped at 953.50 by Charmer Charts.com
Gold tried to trade higher, but faltered and sellers took advantage and blitzed lower to 941.45. Now there has been a recovery, but it has captured at 953.50 and looking under threat at the moment.
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 EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| May 27 | 14:00 | Existing Home Sales | 4.65M | 4.57M |
| May 27 | 14:00 | Existing Home Sales (MoM) | 1.8% | -3.0% |
US economic indicators - We expect existing home sales to have followed suit by BHF−Bank
Existing home sales dropped more sharply than expected in March, from 4.71m to 4.57m. However, given that pending home sales increased again by 3.2% mom in March, we expect existing home sales to have followed suit. They could have gone up from 4.57m to about 4.65m in April, driven particularly by foreclosures. In addition, tax incentives, low mortgage rates and increased affordability are also supporting sales.
[ Full Story ]Top Market Movers Review
UK BBA MORTGAGE APPROVALS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 27 | 08:30 | BBA Mortgage Approvals | 27.7K | 29.1K | 26.7K |
DATA SNAP: UK Apr Net Mtge Lending +GBP2.7B Vs Mar +GBP3.4B (Dow Jones)
Growth in U.K. mortgage lending slowed for the second straight month to an eight−year low in April, while mortgage approvals picked up from a month earlier, data from the British Bankers Association showed Wednesday.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 27 | 01:30 | AU | Construction Work Done (1Q) | -3.7% | -3.0% | 2.3% |
| 03:00 | NZ | Business Confidence (May) | 1.9 | -14.5 | ||
| 11:39 | DE | Consumer Price Index (MoM) (May)  | 0.1% | 0.0% | ||
| 11:39 | DE | Consumer Price Index (YoY) (May) | 0.2% | 0.7% | ||
| 08:30 | UK | BBA Mortgage Approvals | 27.7K | 29.1K | 26.7K |
|
| 11:00 | US | MBA Mortgage Applications (May 22) | -14.2% | 2.3% | ||
| 14:00 | US | Existing Home Sales (Apr) | 4.65M | 4.57M | ||
| 14:00 | US | Existing Home Sales (MoM) (Apr) | 1.8% | -3.0% | ||
| 14:00 | US | Housing Price Index (MoM) (Mar) | 0.2% | 0.7% | ||
| 16:00 | US | Treasury's Geithner Speech | ||||
Educational Resources
PSYCHOLOGY
Listen to Steven Croft's podcast about trading strategies and psychology matters. Listen now! Here are the topics for this week:
− Step Outside Of Your Comfort Zone
− Become a Great Trader Without Trading
− Building a Bridge To New Programs
− The Old Is Forever New
− Action Needs To Conquer Caution