Thursday, Jun 11, 11:19 GMT
U.S. Trading Newsletter
To Get Started
- Learning Center: Chapter 1 of Unit B: Technical Analysis is out. Check it out!
- WEBINAR VIDEOS: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Trading for a living: Today Asian support and resitance worked like a charm, again by David Aranzabal
Double top at resistance level gave us a short opportunity in EUR after the Frankfurt opening.
− Stop above the previous swing (Above the Asian ressistance).
− Targeting the Asian support, for a fast scalp of about 60 pips, depending of your entry. (There was 2 or 3 opportunities.
The Advisor Blog: Majors’s sentiment for today by Valeria Bednarik
Forex Trading Today: Markets Mixed heading into Europe as Currencies Continue Accumulation by Tim Salem
Share your opinions with your fellow traders at FXstreet.com Forum
Sponsored by 
Live Sessions Schedule
Forex Basics Series: Chapter 4 − Technical indicators: Movering Averages − Free Access Day
Expert: Valeria Bednarik
Start: Thu, Jun 11, 14:00 GMT
Type of Session: Webinar
The Green Revolution − Free Access Day
Expert: Joseph Trevisani
Start: Thu, Jun 11, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jun 11, 11:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN |  |
| Thu, Jun 11, 12:30 GMT | Trading Range bound vs. Trending Markets − Free Access Day | Adam Rosen | WBN |  |
| Thu, Jun 11, 14:00 GMT | Forex Basics Series: Chapter 4 − Technical indicators: Movering Averages − Free Access Day | Valeria Bednarik | WBN | |
| Thu, Jun 11, 15:00 GMT | How to Get Started Trading Forex − Free Access Day | Mark Whistler | WBN | |
Current Session: Europe − U.S.
Sterling breaks away from it's months of oversold status
KBC Bank − News sensitive pair continues to see upward pressure as the Sterling breaks away from it's months of oversold status on a flurry of even mildly encouraging news and data. We are testing highs as we speak on strong signs the housing market is making a recovery. A break past 1.6474 will see the pair break away and head for recent highs at 1.6666. Double top will allow for a retest of 1.6300 with 1.6243.
EUR/USD
Forex Technical Analysis − EUR/USD: (1.4052) In Triangle pattern by KBC Bank
Reversal Day at 1.4339 sent the pair back towards 1.3739 (neckline Daily Double Bottom), with rebound putting it currently back in channel off 1.2964 (see graph) and trying to settle back in daily channel off 1.2885 (bottom at 1.4114 today).
USD/JPY
USD/JPY: We have broken the momentum trend line to the upside by FXstreet.com Independent Analyst Team
USDJPY− We had a green candle yesterday but it is engulfed by Tuesdays down candle. Moving averages are ‘in order' to buy. We have previous highs at 9982 then 9974. We have broken the momentum trend line to the upside.
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 RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jun 11 | 12:30 | Retail Sales ex Autos (MoM) | 0.2% | -0.5% |
| Jun 11 | 12:30 | Retail Sales (MoM) | 0.4% | -0.4% |
US%3A Preview of US May retail sales by Easy Forex
US May retail sales will be released on June 11th. The retail sales report is important because it will be looked at for clues to whether the US economy is nearing a bottom. Two thirds of the US economy is based on consumer spending. Consumer spending has been weak as the US economy sank deeper into recession, credit conditions tightened and the US savings rose to its highest level in nine years.
[ Full Story ]Sunrise Market Commentary - US retail sales may be decisive for near term outlook by KBC Bank
Top Market Movers Review
EMU ECB MONTHLY REPORT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 11 | 08:00 | ECB Monthly Report | - | - | - |
ECB: Eurozone Economy will start growing on mid 2010; Euro picks up (FXstreet.com)
European Central Bank's Monthly Bulletin estimates that Eurozone's economy will, start giving positive quarterly GDP figures around mid 2010, as on the light of recent surveys, the Bank expects economic activity to contract at a much slower pace over the coming quarters.
[ Full Story ]- Read full Report at ECB
- European markets pick up after ECB bulletin; Euro and Pound bounce up (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 10 | 23:50 | JP | Gross Domestic Product (QoQ) (1Q) | -3.8% | -4.0% | -4.0% |
| 23:50 | JP | Gross Domestic Product Annualized (1Q) | -14.2% | -14.9% | -15.2% |
|
| Jun 11 | 01:00 | AU | Consumer Inflation Expectation (Jun) | 2.8% | 2.3% | |
| 01:30 | AU | Employment Change (May) | -1.7K | -30.0K | 27.3K | |
| 01:30 | AU | Unemployment Rate (May) | 5.7% | 5.7% | 5.4% | |
| 08:00 | EMU | ECB Monthly Report (Jun) | ||||
| 12:30 | CA | Capacity Utilization (1Q) | 71.6% | 74.7% | ||
| 12:30 | US | Continuing Jobless Claims (May 30) | 6735K | |||
| 12:30 | US | Initial Jobless Claims (Jun 6) | 614K | 621K | ||
| 12:30 | US | Retail Sales (MoM) (May) | 0.4% | -0.4% | ||
Educational Resources
Money management overlaps with risk, trade, business, and personal management, yet it has many aspects that make it unique, distinctly different from all of the other areas of management. In this chapter we want to examine some areas of money management that seem to involve mental quirks leading to costly mistakes. Read Joe Ross' article
Related Resources
Money Management in Forex Trading - Report by ForexHit
Money Management Calculator - Trading Tool
Institutional Trading Strategies: Money Management 101 - Webinar Recording with Andrei Pehar
Position Sizing and Money Management - Webinar Recording with John Jagerson