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Mid-Day Report: Dollar Pressured on Sharp Deceleration in Employment Cost Growth
Jul 31 13:06 GMT, by ActionForex.com
Dollar drops sharply in early US session, in particular against European majors. Employment cost index rose merely 0.2% in Q2, much lower than expectation of 0.6%. That was also the smallest increase on record for 33 years. The sharp deceleration from Q1's 0.7% was also seen y some economists as a reason for Fed to delay the first rate hike from S...

Technical Outlook

USD/CAD Weekly Outlook
USD/CAD edged higher to 1.3102 last week but turned sideway since then. Initial bias stays neutral this week and more c... - Aug 01 11:41 GMT
GBP/JPY Weekly Outlook
GBP/JPY edge higher last week with weak momentum. Overall outlook is unchanged. We're viewing price actions from 195.86... - Aug 01 11:36 GMT
EUR/JPY Weekly Outlook
EUR/JPY stayed in range of 133.29/137.78 last week and outlook is unchanged. Initial bias remains neutral this week fir... - Aug 01 11:32 GMT
EUR/GBP Weekly Outlook
EUR/GPB stayed in range of 0.6935/7223 last week and outlook is unchanged. Initial bias remains neutral this week first... - Aug 01 11:19 GMT

Special Reports

FOMC Adjusted Economic Assessment, September Rate Hike Remains Open
Jul 30 06:08 GMT
In its July statement, the FOMC made some changes on its assessment of the curr...
China Might Soon Widen Renminbi Further to Get Included in IMF's SDR
Jul 29 06:56 GMT
Chinese State Council released a statement titled 'Key steps to promote foreign...
Watch For Forward Guidance In July FOMC Statement
Jul 27 17:26 GMT
The upcoming FOMC meeting in July would be in focus, as the market watches clos...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.9665
Dollar's firmness after breaking above previous resistance at 0.9674 adds credence to our view that recent erratic rise from 0.90... - Jul 30 15:47 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
As the British pound has retreated again after meeting resistance at 1.5644 in NY morning, below 1.5588 would bring weakness to 1... - Jul 30 15:43 GMT
Trade Idea Wrap-up: EUR/USD - Sell at 1.0985
Euro's intra-day breach of previous support at  1.0925 signals rebound from 1.0809 has ended at 1.1130 and mild downside bias rem... - Jul 30 15:37 GMT
Trade Idea Wrap-up: USD/JPY - Stand aside
Despite intra-day breach of previous resistance at 124.48, lack of follow through buying and current retreat from 124.58 suggest ... - Jul 30 15:35 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
Although aussie dropped quite sharply last week, break of recent low 89.20... - Jul 30 07:57 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Although aussie has remained under pressure, as recent decline is losing n... - Jul 30 07:11 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Although the British pound retreated after rising to 1.5667 earlier, as re... - Jul 28 09:12 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Stand aside
The single currency continued to trade lower after retreating from 0.7161 (this week's high), dampening our near term bullishness... - Jul 30 15:03 GMT
Trade Idea: USD/CAD - Hold long entered at 1.2900
The greenback found renewed buying interest at 1.2862 yesterday and has staged a rebound, retaining our bullishness and above 1.3... - Jul 30 14:52 GMT
Trade Idea: EUR/JPY - Hold long entered at 136.25
Although the single currency has retreated after rising to 137.11 earlier this week, as long as 135.75-80 holds, mild upside bias... - Jul 30 08:26 GMT
Trade Idea: AUD/USD - Hold long entered at 0.7285
Although aussie has retreated again after faltering below resistance at 0.7351, as long as this week's low at 0.7257 holds, conso... - Jul 30 08:15 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
As the single currency has retreated again after meeting resistance a... - Jul 30 10:05 GMT
USD/CAD Elliott Wave Analysis
The greenback found renewed buying interest at 1.2656 and has surged ... - Jul 30 09:44 GMT
GBP/USD Elliott Wave Analysis
Cable's rebound after finding support at 1.5330 suggests near term up... - Jul 28 10:09 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: Jul 31 20:55 GMT

Action Bias

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

Fundamental Analysis Reports

Weekly Economic and Financial Commentary
Aug 01 05:11 GMT, by Wells Fargo Securities
Fed chair Janet Yellen has made no secret that the decision on when to begin to normalize short-term interest rates would depend on the economic data. The policy statement from this past week's FOMC ...
The Weekly Bottom Line
Aug 01 04:56 GMT, by TD Bank Financial Group
The week was off to a rocky start with Chinese equities once again grabbing headlines. After a modest uptick amidst much welcomed stability the previous week, the Shanghai composite dropped a whoppin...
The Fed: Why Economists and the Market do not Agree on a Rate Rise
Aug 01 04:44 GMT, by Forex.com
As we start a new week the focus shifts to the US labor market report scheduled for release on Friday. Another solid reading of 200k + could trigger even more chatter about the prospect of a Fed rate...
Week Ahead in FX: USD to Face Payrolls Challenge
Aug 01 04:38 GMT, by MarketPulse
There is an avalanche of economic indicators next week. The Reserve Bank of Australia (RBA), the Bank of England (BoE) and the Bank of Japan (BoJ) are due to announce their monetary policy decisions....
Weekly Focus: Focus Turning to US Data
Jul 31 14:14 GMT, by Danske Bank
The FOMC statement suggests the Fed is not far from the first rate hike. US data is key to our call for a September Fed hike and very important for financial markets. We expect higher short-end...
Canadian May GDP Declines
Jul 31 14:10 GMT, by RBC Financial Group
May 2015 GDP surprised on the downside by falling 0.2% in the month following a 0.1% drop in April. Market expectations had been for unchanged activity in the month. This represented the fifth consec...
All Daily Fundamental Reports >>

Technical Analysis Reports

USDCHF Testing Bullish Trend Line after ECI Bombshell
Jul 31 13:59 GMT, by Forex.com
We've been paying particularly close attention to USDCHF of late, as the pair rallied into Bearish Gartley pattern completion last week, prompting a 100-pip drop, before last week's historically low ...
USDJPY Strength Even After Bad Advance GDP Data
Jul 31 09:11 GMT, by Admiral Markets
USDJPY has bounced after FED statement which clearly stated that the rate hike is inevitable after further job gains. We think it could come in September or December, but December seems more likely. ...
EUR/USD Takes A Break At 1.0930
Jul 31 08:58 GMT, by Dukascopy Swiss FX Group
Bears failed to push though the weekly PP yesterday, but this does not change the bearish outlook on the Euro. The ceiling is still at 1.11, while the July low at 1.0810 is the target, meaning any ra...
GBP/USD Hovers Above 1.56
Jul 31 08:55 GMT, by Dukascopy Swiss FX Group
The GBP/USD currency pair experienced some volatility yesterday, amid mixed US fundamental data. As a result, the Cable remained relatively unchanged, as the Sterling added only four pips against the...
USD/JPY Attempts To Preserve The Bullish Trend
Jul 31 08:54 GMT, by Dukascopy Swiss FX Group
The US Dollar reached a daily high of 124.60 against the Yen yesterday, but was instantly pushed back down, where it stabilised at 124.07. Although the gains were not as large as anticipated, the 124...
XAU/USD Gains Bearish Momentum
Jul 31 08:52 GMT, by Dukascopy Swiss FX Group
XAU/USD is under heavy selling pressure at the moment, which should be enough to take the price down to the 2010 low eventually. Once the July 20 and 24 lows are surpassed, there will be no significa...
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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