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Forex Blogs
Forex Trading Today: AUD/USD At Risk for Correction as Deep Appreciation Continues by Tim Salem
We check back in on One of our Three Units from our previous Big Post Update, and with the Aussie Dollar being as I said… In my personal View… the Strongest of the "Six Sibling" Pairs… A significant Correction may be "looming on The Horizon".
The Day Job Trader: Another Day, Another Rally… by Ryan O'Keefe
The Disciplined Trader: EUR/USD update - Looking for a topby Pierre Charlebois
FX Market Readings: A day of swing and slide by Dr. Sivaraman
Sponsored by 
Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Jun 3, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Jun 3, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jun 3, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Jun 3, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Jun 3, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Jun 3, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
Current Session: Europe − U.S.
Forex: EUR/USD: Euro testing support at 1.4260
FXstreet.com Independent Analyst Team −The Euro has pulled back from 5−month high at 1.4335, as the pair has weakened on European session to test initial support level at 1.4260 at the time of writing.
Support levels, below 1.4260, lie at 1.4240/45 and below there, 1.4200/10 and 1.4140/45. On the upside, initial resistance lies at 5−month high 1.4330, and above there, 1.4365 (Dec 29 high) and 1.4400.
GBP/USD
Forex: GBP/USD: Pound decline from 1.6660, halted at 1.6515 by FXstreet.com
The Pound has gone trough a mild corrective decline from fresh 7−month high at 1.6660 ahead of the European session opening, to 1.6515, and the Pound has picked up to levels around 1.6560.
USD/JPY
USD/JPY: Dollar reverses from 96.40 and drops below 96.00 by FXstreet.com
Blipping to new a high for this year at 137.57. This and other pairs may follow, or if they do not then they might drag the others down again. All very difficult and subject to change at short notice.
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 ISM NON−MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jun 3 | 14:00 | ISM Non−Manufacturing | 45.0 | 43.7 |
US economic indicators - We expect ISM non−manufacturing to have gone up again by BHF−Bank
The ISM non−manufacturing, which had fallen in March, recovered noticeably in April. We expect it to have gone up again, albeit more moderately, to 44.5 in May. Thus both ISM indices would still have remained well below the expansion threshold.
[ Full Story ]Daily Global Commentary - ISM Manufacturing Advances in May, Noteworthy Jump of New Orders Index by Northern Trust
Top Market Movers Review
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 3 | 09:00 | Gross Domestic Product s.a. (QoQ) | -2.5% | -2.5% | -2.5% |
| Jun 3 | 09:00 | Gross Domestic Product s.a. (YoY) | -4.8% | -4.6% | -4.6% |
DATA SNAP:Euro−zone 1Q Contraction Driven By Inventory Moves (Dow Jones)
[ Full Story ]- Read the GDP data at Eurostat
- Euro Zone GDP, unrevised at −2.5% in the 1Q; Euro and Pound, down; Yen up (FXstreet.com)
- EU QoQ GDP stays unchanged at −2.5% in 1Q (FXstreet.com)
- Forex: EUR/USD: Euro declines below 1.4240/45 ahead of Eurozone GDP (FXstreet.com)
Friday Notes - GDP forecast is −0.6% q−o−q by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 3 | 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (1Q)  | -2.5% | -2.5% | -2.5% |
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (1Q) | -4.8% | -4.6% | -4.6% | |
| 09:00 | EMU | Producer Price Index (MoM) (Apr) | -1.0% | -0.8% | -0.7% | |
| 09:00 | EMU | Producer Price Index (YoY) (Apr) | -4.6% | -4.5% | -3.1% | |
| 09:30 | UK | BRC Shop Price Index (YoY) (May) | 1.3% | 1.4% | ||
| 11:00 | US | MBA Mortgage Applications (May 29) | -16.2% | -14.2% | ||
| 12:15 | US | ADP Employment Change (May) | -533K | -491K | ||
| 14:00 | US | Factory Orders (Apr) | 0.7% | -0.9% | ||
| 14:00 | US | Fed's Bernanke testifies | ||||
| 14:00 | US | ISM Non−Manufacturing (May) | 45.0 | 43.7 | ||
Educational Resources
Practically, whatever your trading strategy is, market rarely goes exactly as planed. And exit point should be known to the trader, before they do enter the market. Later, as market makes some movements, especially if those movements do not match your plans, possible to exit early than your exit point is, but one thing must remain unmovable: do not exit on emotions. Read Tomas Cedavicius's report!
Related Resources
A Discussion About Exit Strategies - Gabe Velázquez's report
Multi-time frames for entry and exit signals in Forex - Webinar recording
Stop Loss - Tomas Cedavicius's report