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Forex Blogs
The Trader's Edge: EUR/USD Key Price Levels by Ross Yamashita
What a day last Friday. We saw the EUR/USD go up a little bit then freefall down. We hope that everyone was on the right side of the trade on that one.
Forex Trading Today: The Queen and Her Cross See Breaks of Appreciation by Tim Salem
CEO's Weblog: Crown Forex S.A to file an appeal to FINMA’s liquidation decision Wednesday June 10th by Francesc Riverola
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Jun 9, 14:00 GMT
Type of Session: Webinar
Understanding Market Rhythm − Part 2
Expert: Lea Peters
Start: Tue, Jun 9, 19:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jun 9, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Jun 9, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Tue, Jun 9, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Tue, Jun 9, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe − U.S.
We need to break and hold back above 98.90 to ease downside threat
Charmer Charts.com − USD/JPY dispatched sellers with force on Friday and yesterday had a well earned rest ( or lack of interest). Today however we need quickly to break and hold back above 98.90 which would ease any immediate downside threat.
Failure and more importantly a break below 97.70 would lead the market lower with 96.50 the short term objective. Here sellers will be looking to short cover. Buyers will be abundant at these lows, and it is unlikely under current market conditions that this support would break.
EUR/GBP
Weekly Technical Chart − EURGBP Weekly Technical Chart by Chart−Workshop
0.8640 is relatively important right now and would consider this the line in the sand for today. Below this level and 0.8580 followed by 0.8530 are levels of support that would have to hold for any kind of bounce to materialise.
EUR/USD
Daily Analysis − The Dollar may rise against the Euro as investors look for reassurance says UBS by Finotec Group Inc.
The dollar may rise to $1.30 per euro in the next three months as the U.S. economy shows signs of a recovery and concerns ease that overseas investors will reduce holdings of Treasuries, according to UBS AG.
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 WHOLESALE INVENTORIES
| Date (GMT) | Event | Cons. | Previous | |
| Jun 9 | 14:00 | Wholesale Inventories | -1.1% | -1.6% |
US economic indicators - We expect declines in wholesale and retail inventories by BHF−Bank
As inventory stocks move into better alignment with sales, firms should become more willing to increase production, as Mr. Bernanke commented recently. But at present, stock liquidation does not yet appear to have slowed: the ISM manufacturing's inventory component was a mere 33.6 in April, and we already know that factory inventories fell by another 1.0% mom. We expect similar declines in wholesale and retail inventories, and thus total business inventories could have fallen by about 1.0% mom in April, the same rate as in March.
[ Full Story ]Top Market Movers Review
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 9 | 10:00 | Industrial Production s.a. (MoM) | -1.9% | -0.2% | 0.3% |
| Jun 9 | 10:00 | Industrial Production s.a. w.d.a. (YoY) | -21.6% | -21.1% | -20.4% |
DATA SNAP: German April Indus Output Weaker Than Expected (Dow Jones)
[ Full Story ]- Read the Industrial Production data at BMWi [text in German]
- Germany Apr MoM Industrial Production falls 1.9% in Apr, −21.6% YoY (FXstreet.com)
EMU economic indicators - Output in the German producing sector (April): decrease likely by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 9 | 05:00 | JP | Leading Economic Index (Apr)  | 76.5 | 77.3 | 75.5 |
| 06:00 | JP | Machine Tool Orders (YoY) (May) | -79.3% | -80.4% | ||
| 06:00 | DE | Trade Balance (Apr) | 9.4B | 9.4B | 11.3B | |
| 08:30 | UK | DCLG House Price Index (YoY) (Apr) | -13.0% | -13.2% | -13.6% | |
| 10:00 | DE | Industrial Production s.a. (MoM) (Apr) | -1.9% | -0.2% | 0.3% |
|
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Apr) | -21.6% | -21.1% | -20.4% | |
| 14:00 | US | Wholesale Inventories (Apr) | -1.1% | -1.6% | ||
| 14:30 | US | Treasury's Geithner Speech | ||||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Jun 7) | -49 | |||
| 23:50 | JP | Core Machinery Orders (MoM) (Apr) | -0.2% | -1.3% | ||
Educational Resources
New Rob Booker's ebook: Man vs. Market
Is it Man versus Market? Or something else entirely?
It's you against the Market, that's what they'll tell you. But if we stop for a moment, what do we see? Is it maybe the contrary, Man versus Market?
Read Rob Booker's last ebook... A little entertaining lesson about trading and your relationship with the market, the rest of traders and yourself.
Related Resources
Previous Rob Booker's ebook - It's 2009. Get Your Trading S*** Together, Man!
Meet Rob in person at the ITC '09 Barcelona!