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May 06 12:32 GMT

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European Session: Orders and Options Watch
May 06 09:27 GMT, by ActionForex.com
EUR: The single currency moved higher after yesterday's rebound from 1.1066, offers at 1.1180, 1.1200 and 1.1220 were filled, however, sell orders are still noted at 1.1225-35 (stops above) and further out at 1.1280, mixture of offers and stops is located at 1.1300, selling interest is tipped at 1.1325-30, 1.1360, 1.1385 and 1.1400. On the downsid...

Technical Outlook

GBP/JPY Daily Outlook
Intraday bias in GBP/JPY remains neutral for the moment. As long as 180.64 minor support holds, further rise is expecte... - May 06 08:06 GMT
EUR/JPY Daily Outlook
Intraday bias in EUR/JPY remains neutral for the moment. Another rise is in favor as long as 131.28 resistance turned s... - May 06 08:02 GMT
EUR/GBP Daily Outlook
Intraday bias in EUR/GBP remains neutral for the moment. We'd still expect rebound from 0.7013 to continue. Above 0.741... - May 06 07:59 GMT
EUR/AUD Daily Outlook
Intraday bias in EUR/AUD remains neutral for the moment. At this point, we're still preferring the case that fall from ... - May 06 07:56 GMT

Special Reports

UK General Election – Most Divided Ever
May 06 05:36 GMT
UK's general election this year would be the most uncertain one ever. With only...
RBA Cut Rate To 2%, Fuelling Of Housing Prices Inevitable
May 05 07:45 GMT
RBA cut the cash rate by -25 bps to 2% in May, after pausing over the past 2 mo...
RBA To Cut In May
May 04 02:30 GMT
Following the previous cut in February, we expect the RBA would trim the cash r...
All Special Reports >>

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Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/CHF - Stand aside
Although yesterday's break of previous support at 0.9277 (last week's low) confirms recent decline from 1.0129 top has resumed an... - May 06 11:07 GMT
Trade Idea Update: GBP/USD - Stand aside
As the British pound has rebounded after yesterday's marginal fall to 1.5089, suggesting consolidation above this level would be ... - May 06 11:04 GMT
Trade Idea Update: EUR/USD - Buy at 1.1150
As the single currency has staged a strong rebound after finding good support at 1.1066 yesterday, suggesting the retreat from 1.... - May 06 11:02 GMT
Trade Idea Update: USD/JPY - Hold short entered at 120.35
As the greenback has slipped again after meeting renewed selling interest at 120.05, retaining our bearish view that top has been... - May 06 11:00 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
Aussie found renewed buying interest at 91.75 and has rallied since late l... - May 06 08:38 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Although aussie retreated after rising to 0.8076 last week, as the pair fo... - May 06 08:05 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Despite last week's rise to 1.5498, the subsequent selloff suggests first ... - May 05 08:48 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY - Buy at 132.45
Although the single currency rebounded after finding support at 133.11 yesterday, break of last week's high of 135.29 is needed t... - May 06 09:51 GMT
Trade Idea: AUD/USD - Hold short entered at 0.7960
Aussie has staged a strong rebound after falling to 0.7788 yesterday, suggesting caution on our near term bearishness and 0.8000 ... - May 06 09:46 GMT
Trade Idea: EUR/GBP - Buy at 0.7300
Euro's retreat after rising to 0.7420 on Friday has retained our view that further consolidation below this level would be seen a... - May 05 14:34 GMT
Trade Idea: USD/CAD - Stand aside
Current selloff dampened our near term bullishness and suggests the rebound from 1.1945 (last week's low) has ended at 1.2205 and... - May 05 14:32 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Although aussie retreated after rising to 0.8076 last week, as 0.7788... - May 06 10:54 GMT
EUR/CAD Elliott Wave Analysis
Euro's rebound from 1.3025 turned out to be stronger than expected, s... - May 06 10:42 GMT
GBP/USD Elliott Wave Analysis
Although cable surged last week to as high as 1.5498, the subsequent ... - May 05 10:07 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 06 13:25 GMT

Action Bias

  Hourly 6 Hours Daily Weekly
EURUSD↑ UP- NE↑ UP- NE
USDJPY↓ DN- NE- NE- NE
GBPUSD↑ UP- NE- NE- NE
USDCHF↓ DN↓ DN↓ DN- NE
USDCAD↓ DN↓ DN↓ DN- NE
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Forex Brokers

Fundamental Analysis Reports

Bund Yields Provide EUR the Support
May 06 11:55 GMT, by MarketPulse
Currently, there are a lot of moving parts in capital markets that are keeping investors on their toes. If it's not exploding sovereign bond yields or new yearly high crude prices, then it's the doll...
CAC: Stock Market Sentiment Remains Cagy Ahead Of US Data
May 06 11:38 GMT, by Forex.com
The European stock markets have recovered somewhat after Tuesday’s sharp sell-off. Sentiment has improved a little on the back of mostly better-than-expected European data but remains cautious due to...
Euro Data Is Positive, While NZ Economy Suffers Worse Than Expected Unemployment
May 06 10:33 GMT, by ForexTime
The European Services data has been very positive for struggling Eurozone nations, with Spain leading the way after achieving a number not seen since November 2006. A reading of 60.3 is extremely str...
Brazil's Industrial Production, Waiting For US ADP
May 06 10:12 GMT, by Swissquote Bank SA
The largest economy in Latin America experienced a sharp slowdown in the first quarter and is apparently not out of the woods yet, as suggested by the latest economic indicator. Despite a small impro...
European Market Update: Major European PMI Services Data Generally Improves In April, Bond Yield Volatility Endures
May 06 10:07 GMT, by Trade The News
European Bond yields saw volatility in session. Initially price action continued their recent trend higher in the session and this that aided the Euro currency. Euro tested above its 100-day moving a...
USD Decline Slows Despite Uninspiring US ISM
May 06 07:41 GMT, by KBC Bank
On Friday, the dollar was in the defensive for most of the day, but fortunes changed later in the session as US bond yields rose. Hawkish Fed talk might have played a role. Was Friday's price action ...
All Daily Fundamental Reports >>

Technical Analysis Reports

USDCHF Looks For Support Near 0.9200
May 06 11:44 GMT, by Elliott Wave Financial Service
USDCHF fell to a new low last week, beneath 0.9400 level and extended to 161.8% Fibonacci zone. We have seen a break out of a bearish triangle in wave B), so pair can be in final leg down of a big co...
Today's Market Outlook
May 06 10:18 GMT, by Windsor Brokers Ltd
The pair extends recovery rally from 1.1064, where correction off 1.1288 peak was contained by daily cloud top. Today’s acceleration above yesterday’s high at 1.1221, dented descending daily 100SMA t...
EUR/USD Resumes Growing
May 06 08:03 GMT, by Dukascopy Swiss FX Group
After two consecutive days of losses, EUR/USD renewed its bullish trend on Tuesday, while growth continues taking place in the early morning on Wednesday. Still, considerable resistance is created by...
GBP/USD Regains Bullish Momentum
May 06 08:01 GMT, by Dukascopy Swiss FX Group
Sterling found more support at the 100-day SMA, as it prevented the GBP/USD pair from falling yesterday. The nearest resistance, namely the monthly PP, was easily pierced, as the Cable negated Monday...
USD/JPY: Further Weakness Expected
May 06 07:59 GMT, by Dukascopy Swiss FX Group
USD/JPY experienced substantial volatility on Tuesday. The Buck stretched out towards 120.50 and 119.70, failing to reach the worst-case scenario low of 119.64. 55-day SMA provided sufficient support...
XAU/USD To Test Resistance At 1,194
May 06 07:58 GMT, by Dukascopy Swiss FX Group
Gold traded on the upside during the trading session on Tuesday. Positive momentum was provided by the weekly PP at 1,187, even though the precious metal faced a dense cluster of resistances ahead of...
All Daily Technical Reports >>

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Long Term Forecasts

Euro Area Outlook for 2015: Impact of Broad-Based QE
Jan 17 03:46 GMT, by Danske Bank
The expected ECB QE programme will support economic activity through a number of channels and hence...
When Will the Bank of England Hike Rates?
Aug 16 08:33 GMT, by Wells Fargo Securities
In the first report of a two-part series on the outlook for Bank of England (BoE) monetary policy, ...
Growth in China Appears to Be Stabilizing
Jul 19 08:05 GMT, by Wells Fargo Securities
The year-over-year rate of real GDP growth in China edged up to 7.5 percent in Q2 from 7.4 percent ...
FX Forecast Update: Negative Rates and Liquidity Tools to Weaken the Euro
Jun 14 03:24 GMT, by Danske Bank
The ECB delivered more easing than expected at its rate meeting in June by cutting both the refi an...
AUD/USD - 2013 In Review
Jan 02 02:25 GMT, by MarketPulse
The Australian dollar is known for its strong volatility, and taking traders on roller coaster ride...
All Long Term Forecasts >>
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