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Forex Blogs
Trading for a living: Awesome start of the week! by David Aranzabal
Today we had an amazing start of the day / week, Eur and Pound breaking levels and making again new highs. All the fundamentals are dropping the dollar. And the European opening gave us a good trade and easy one this morning in Cable and Eur.
Forex Trading Today: The Queen Continues On in the The Battle of The Channel by Tim Salem (CVJ)
Trade Setups: Forex Video 01 June ‘09 Analysis by Phil Newton
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Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jun 1, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Tue, Jun 2, 05:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jun 1, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Jun 1, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Jun 1, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jun 1, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe − U.S.
GBP/USD consolidates its 7−month high
FXstreet.com − After the last bullish momentum, which took the Sterling from 1.6185 to post 1.6430 against Greenback in the early European session, the GBP/USD is consolidating its high levels during the European morning. Currently cable is rising 1.40% so far today from opening price at 1.6180.
EUR/USD
Timeframe Breakdowns − MACD and Momentum holding above their trend lines by Ian G Coleman
We dropped off the edge of a cliff in July 2008 (1.6050) We made lows at 1.2330 (28th Oct) We then pulled back aggressively to 1.4725. This was around 61.8 % of the move down. We then sold off again but didn't make lower lows and reversed higher. The MACD and Momentum are both holding above their trend lines.
GBP/USD
GBPUSD: Sustaining Gains With Eyes On Further Upside by FXTechstrategy
With the pair closing higher for the week and maintaining its short term upside since decisively invalidating the 1.5374 level, its Jan 08'09 high and the 1.5724 level, its Dec 17'08 high, additional upside gains are now beckoning with the 1.6399 level, its Nov 03'08 high. …
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
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
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 1 | 08:00 | Purchasing Manager Index Manufacturing | 40.7 | - | 36.8 |
DATA SNAP: Euro−Zone May Mfg PMI Rises To Seven−Month High (Dow Jones)
The euro zone's manufacturing sector contracted in May but at the slowest pace since November last year. The Purchasing Managers Index for the euro zone's factory sector rose to 40.7 in May from 36.8 in April, according to Markit Economics Monday.
[ Full Story ]- Read the official data at Markit Economics
- UPDATE:Euro−Zone May Mfg PMI Monthly Rise Sharpest On Record (Dow Jones)
- Eurozone manufacturing PMI rises 3.9 pts to 40.7 in May (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 1 | 00:00 | DE | Whit Monday Market Holiday | |||
| 05:00 | JP | Vehicle Sales (YoY) (May) | -19.4% | -32.0% | ||
| 05:30 | AU | RBA Commodity Index SDR (YoY) (May) | -23.0% | -17.8% |
||
| 07:55 | DE | Purchasing Manager Index Manufacturing (May) | 39.6 | 39.1 | 35.4 |
|
| 08:00 | EMU | Purchasing Manager Index Manufacturing (May) | 40.7 | 36.8 |
||
| 08:30 | UK | Purchasing Manager Index Manufacturing (May) | 45.4 | 43.1 |
||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Apr) | 0.2% | |||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Apr) | 1.8% | |||
| 12:30 | CA | Gross Domestic Product (MoM) (Mar) | -0.1% | |||
| 12:30 | CA | Industrial Product Price (MoM) (Apr) | 0.3% | |||
Educational Resources
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