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May 22 14:47 GMT

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Mid-Day Report: Sterling Tumbled on BoE Minutes and Retail Sales, Dollar Volatile on Bernanke
May 22 12:45 GMT, by ActionForex.com
Dollar spiked against euro, with EUR/USD just missing 1.3 psychological level in early US session. In his testimony to the Joint Economic Committee of Congress, Fed chairman Bernanke warned that premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the ec...

Technical Outlook

EUR/CHF Mid-Day Outlook
EUR/CHF's rally accelerated today and break through 1.2568 key resistance. The development confirmed resumption of medi... - May 22 12:20 GMT
EUR/USD Mid-Day Outlook
Recovery from 1.2796 might extend higher and could target 55 days EMA (now at 1.3021). But overall, we'd expect upside ... - May 22 12:19 GMT
USD/CHF Mid-Day Outlook
USD/CHF is staying below 0.9760 temporary top and intraday bias remains neutral. More consolidations could be seen. But... - May 22 12:17 GMT
USD/JPY Mid-Day Outlook
USD/JPY recovers mildly today but stays below 103.30 temporary top. More consolidations could still be seen and intrada... - May 22 12:15 GMT

Special Reports

Three Out of Nine BOE Members Proposed to Expand the Size of Asset Purchases
May 22 13:29 GMT
The BOE minutes unveiled that all 9 MPC members voted for keeping the Bank rate...
RBA Minutes Signaled Rate Cut Was Needed To Boost Growth
May 21 04:59 GMT
The RBA released minutes for the May monetary policy meeting, explaining the ra...
BOE Stands on the Sideline, Awaiting Carney
May 09 13:20 GMT
The BOE refrained from adding further stimulus at the May meeting, i.e. leaving...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/CHF - Hold long entered at 0.9670
Dollar's near term sideways trading within the established range of 0.9549-0.90761 would continue and as long as said lower range... - May 22 13:19 GMT
Trade Idea Update: GBP/USD - Sell at 1.5185
As the British pound has resumed recent decline after faltering below the Kijun-Sen, bearishness remains for recent decline from ... - May 22 13:17 GMT
Trade Idea Update: EUR/USD - Stand aside
Yesterday's strong rebound after finding renewed buying interest at 1.2841 suggests a temporary low has been formed at 1.2796 ear... - May 22 13:15 GMT
Trade Idea Update: USD/JPY - Stand aside
Despite intra-day brief rise to 103.18, lack of follow through buying and current retreat suggest further consolidation would be ... - May 22 13:14 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
The Australian dollar met renewed selling interest at 102.15 in line with ... - May 22 09:49 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Aussie extended recent decline to as low as 0.9711 last week, exceeded our... - May 22 09:30 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Although the British pound extended recent decline from 1.5607 to as low a... - May 21 10:06 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY - Buy at 132.55
Current rally above last week's high of 132.78 confirms recent upmove has finally resumed and further gain to 133.50 and 133.90-0... - May 22 08:38 GMT
Trade Idea: AUD/USD – Sell at 0.9915
Although aussie has retreated again after recovering to 0.9842, break of recent low of 0.9711 (last week's low) is needed to conf... - May 22 08:31 GMT
Trade Idea: EUR/GBP - Stand aside
As the single currency has rebounded again after brief retreat, dampening our bearishness and test of resistance at 0.8516 (last ... - May 21 15:10 GMT
Trade Idea: USD/CAD - Buy at 1.0260
As the greenback has risen again after retreating to 1.0217 yesterday (we recommended to buy at 1.0200), suggesting recent upmove... - May 21 14:44 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Aussie has fallen again after brief recovery, the strength of recent ... - May 22 10:53 GMT
EUR/CHF Elliott Wave Analysis
Current break of previous resistance at 1.2573 confirms our bullish v... - May 22 10:45 GMT
GBP/USD Elliott Wave Analysis
The British pound only recovered to 1.5323 (we recommended to sell at... - May 21 11:01 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 22 15:40 GMT

Action Bias

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

Fundamental Analysis Reports

Are We Pre-Trading A Dovish Announcement From Bernanke?
May 22 11:33 GMT, by OANDA
St Louis Fed President, James Bullard, a supposed hawk, has been bullying the 'single' currency bears into temporary submission ahead of today's FOMC meeting minutes or at least he should be held res...
Bank Of Japan Not Concerned About Increase In Bond Yields
May 22 11:05 GMT, by Danske Bank
There was no big news in connection with today's meeting, which underscores that we have entered a phase in which BoJ-meetings in general will be less dramatic than during the past six months. The Bo...
Pound Declines On Weak Retail Sales Data, BoE Minutes, Yen Falls After BOJ
May 22 10:55 GMT, by ICN.com
The Japanese yen dropped to a three-year low against the euro after Bank of Japan (BOJ) policy makers affirmed a plan to double the monetary base over two years and their statement made no reference ...
Fed: To Taper Or Not To Taper?
May 22 10:38 GMT, by Swissquote Bank SA
The markets mostly remain on wait-and-see mood to hear what the Fed President Bernanke will say to end the suspense on 'to taper or not to taper' specs. The USD is broadly sold ahead of Bernanke’s te...
GBP Gets A Pounding
May 22 10:27 GMT, by Forex.com
It's been a rough morning for GBP, with economic data thwarting early attempts at a GBP recovery. BOE minutes, retail sales and public sector data all weighed on the pound, pushing it below 1.5100 – ...
BoE Minutes Show Continued Split, Retail Sales Drop And Pound Declines
May 22 10:02 GMT, by ICN.com
Bank of England's minutes of April’s monetary decision showed a split among policymakers regarding the extension or the stop of their asset-purchase program, while U.K. jobless claims dropped in Marc...
All Daily Fundamental Reports >>

Technical Analysis Reports

EUR/GBP has 0.8635 in Sight; Fractal Breakout Observed
May 22 14:40 GMT, by FXTimes
Breakout: The 4H EUR/GBP chart shows a market that is extending a breakout above a consolidation range roughly between 0.84 and 0.8515. The market is not trending, as reflected by the relatively flat...
USD/CHF Trading in an Ascending Triangle after Completing Swing Projection
May 22 13:32 GMT, by FXTimes
Ascending triangle, bullish biases: USD/CHF has been bullish in May, but since it found resistance around 0.9750 it has been forming an ascending triangle. This congestion pattern reflects a market c...
FX Mover: USDJPY above 103.00 ahead of Bernanke's Testimony
May 22 13:20 GMT, by Forex.com
The dollar is back in the ascendency today as we lead up to the key event that ALL eyes will be on: Fed chairman Bernanke's testimony to Congress at 1500 BST/ 1000 ET. USDJPY is close to the top of i...
USD/JPY Rises, Testing 103 Again
May 22 09:28 GMT, by ZIFX.com
On Tuesday Dollar/Yen traded within 75 pip range. The currency couple appreciated from 102.11 to 102.89 yesterday, matching the positive money flow sentiment at nearly +7%, closing the day at 102.42....
Morning Forex Technical
May 22 08:57 GMT, by Dukascopy Swiss FX Group
The major currency pair appreciated further in yesterday's trading session, as the exchange rate settled above a 1.2900 benchmark. Investors wait for more information from the Federal Open Market Com...
Technical Analysis for Major Currencies
May 22 08:33 GMT, by ICN.com
The pair moved to the upside yesterday after failing to stable below the ascending key support level as shown on graph, but we see it stable below Linear Regression Indicator 34 indicating the possib...
All Daily Technical Reports >>

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Long Term Forecasts

Is the U.K. Economy (Finally) Turning the Corner?
Apr 29 15:48 GMT, by Wells Fargo Securities
Recently released data show that real GDP in the United Kingdom grew 0.3 percent (1.2 percent at an...
Easy Money: Japan's Policy Gamble
Apr 13 04:00 GMT, by Wells Fargo Securities
This report focuses on Japan and considers the domestic implications of the bold fiscal and monetar...
A Bird's Eye View of the Global Economy
Mar 19 16:25 GMT, by TD Bank Financial Group
The global economy grew by an estimated 2.9% in 2012. The euro zone double dip recession, a softer ...
FX Top Trades 2013: How to Position for the Coming Year
Dec 05 14:55 GMT, by Danske Bank
For the fourth time, we present our year-end FX Top Trades for the coming year. In the years 2010-2...
Implications for UK & Canada from the Appointment of Mark Carney as BoE Governor
Nov 27 11:51 GMT, by TD Bank Financial Group
Chancellor Osborne announced today that Mark Carney, currently the Governor of the Bank of Canada, ...
All Long Term Forecasts >>
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