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May 05 13:18 GMT

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European Session: Orders and Options Watch
May 05 09:32 GMT, by ActionForex.com
EUR: The single currency met renewed selling interest just below 1.1150 and has fallen again, bids at 1.1115-20, 1.1100 and 1.1070 were filled, however, buy orders are still noted at 1.1050-60, 1.1020 and 1.0990-00 (stops below), fresh demand should emerge around 1.0950 and 1.0920-30. On the upside, offers are now seen at 1.1130 and 1.1150, sell o...

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 05 09:28 GMT
EUR/JPY Daily Outlook
A temporary top is in place at 135.26 and intraday bias is turned neutral for the moment. Another rise is in favor as l... - May 05 09:26 GMT
EUR/GBP Daily Outlook
A temporary top is in place at 0.7418 in EUR/GBP and intraday bias is turned neutral first. We'd still expect rebound f... - May 05 09:20 GMT
EUR/AUD Daily Outlook
A temporary top is in place at 1.4352 and intraday bias in EUR/AUD is turned neutral for the moment. At this point, we'... - May 05 09:12 GMT

Special Reports

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...
RBNZ Signaled Easing Bias
Apr 30 03:49 GMT
Kiwi plunged, erasing the gains made over the past 2 days after release of RBNZ...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/JPY - Sell at 120.35
As the greenback has retreated after intra-day brief rise to 120.51, suggesting consolidation below this level would be seen with... - May 05 12:53 GMT
Trade Idea Update: USD/CHF - Hold long entered at 0.9350
Failure to extend intra-day rebound and current retreat from 0.9413 suggest further consolidation would be seen, however, as long... - May 05 10:37 GMT
Trade Idea Update: GBP/USD - Sell at 1.5200
As the British pound has continued to trade defensively after last week's selloff, adding credence to our view that top has been ... - May 05 10:32 GMT
Trade Idea Update: EUR/USD - Sell at 1.1185
As the single currency has rebounded after intra-day brief fall to 1.1066, suggesting consolidation above this level would bee se... - May 05 10:27 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

GBP/USD Candlesticks and Ichimoku Analysis
Despite last week's rise to 1.5498, the subsequent selloff suggests first ... - May 05 08:48 GMT
USD/CHF Candlesticks and Ichimoku Analysis
The greenback did break below previous support at 0.9481 last week and fel... - May 05 08:27 GMT
EUR/USD Candlesticks and Ichimoku Analysis
Last week's breach of previous resistance at 1.1052 signals temporary low ... - May 04 09:28 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY - Buy at 132.45
Euro's retreat after last week's rally to 135.29 suggests temporary top has been formed there and consolidation below this level ... - May 05 09:36 GMT
Trade Idea: AUD/USD - Sell at 0.7960
Despite intra-day brief fall to 0.7788, as aussie has rebounded after finding support there, suggesting consolidation would be se... - May 05 09:29 GMT
Trade Idea: EUR/GBP - Buy at 0.7300
As the single currency has retreated after rising to 0.7420 on Friday, suggesting consolidation below this level would be seen an... - May 04 14:04 GMT
Trade Idea: USD/CAD - Buy at 1.2135
As the greenback has retreated after rising to 1.2205 on Friday, suggesting consolidation would be seen, however, as long as 1.20... - May 04 13:59 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Although cable surged last week to as high as 1.5498, the subsequent ... - May 05 10:07 GMT
GBP/JPY Elliott Wave Analysis
Despite last month's anticipated decline174.90, the subsequent strong... - May 05 09:58 GMT
USD/JPY Elliott Wave Analysis
Despite last week's brief fall to 118.50, as the greenback found rene... - May 04 10:52 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 05 14:10 GMT

Action Bias

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

Fundamental Analysis Reports

Demand for US Dollar Tied to Yields and NFP
May 05 11:23 GMT, by MarketPulse
The mighty dollar took advantage of thin holiday trading conditions yesterday and rallied against the single currency. That trend continues this morning with the sell off in U.S bonds pushing the 30-...
RBA Cuts Rates and European Markets Start to Look Optimistic
May 05 11:22 GMT, by ForexTime
The Australian dollar was the big news story today, as the Reserve Bank of Australia (RBA) cut interest rates by 25 basis points to 2.0%. The market was very volatile as a result of this move, but th...
RBA Released A Less Dovish Statement, Chinese Equities Retreated For The Fifth Day In A Row
May 05 10:09 GMT, by Swissquote Bank SA
Currency war is far from being over as central banks around the world are easing further their monetary policy. This morning, the Reserve Bank of Australia (RBA) cut its cash rate by 25bps to a recor...
European Market Update: Greece Situation Remains On Front Burner
May 05 09:57 GMT, by Trade The News
The GBP was little changed but still vulnerable to the upcoming UK election results which currently likely to present a chaotic coalition negotiations process. The 10-year Gilt yield was higher by ov...
Range-Bound Yen Provides Opportunity
May 05 08:16 GMT, by Blackwell Global
The Yen is in a very clear range pattern with a slight bearish bias along the top side. A rejection from here would confirm a continuation of the range pattern that will likely take the pair back to ...
Greece: Is A Domestic Default Under Way?
May 05 08:14 GMT, by Blackwell Global
As the latest episode of the soap opera, which is Greece, continues to unfold, many start to question the vexing question of when a default is likely to occur. The reality is that a default is alread...
All Daily Fundamental Reports >>

Technical Analysis Reports

EUR/USD Starts May on the Back Foot but Faces Key Week
May 05 12:45 GMT, by Forex.com
The EUR/USD has started the month of May on the back foot after a surprisingly strong performance in April, a month in which the world's heaviest traded currency pair gained about 470 pips (or 4.4%) ...
EURUSD May Face Resistance At 1.1300-1.1400 Level
May 05 09:55 GMT, by Elliott Wave Financial Service
EURUSD turned up in March, but for now only with three waves back into the area of a former wave four. So we believe that rally is corrective, most likely of a black wave IV which is now trading also...
Today's Market Outlook
May 05 07:57 GMT, by Windsor Brokers Ltd
EURUSD extends lower on two-day corrective pullback from 1.1288, with fresh extension below initial 1.1173 support, being initially contained by daily Ichimoku cloud base at 1.1121. The move is seen ...
Forex Technical Analysis
May 05 07:56 GMT, by DeltaStock Inc.
The slide after the recent reversal at 1.5500 is still underway, facing an immediate support around 1.5070 and crucial on the upside is 1.5190. A break through the latter will challenge 1.5300 resist...
EUR/USD Reverses Bullish Trend
May 05 07:42 GMT, by Dukascopy Swiss FX Group
After strongly upbeat movement of EUR/USD last week, as can be clearly observed on a weekly chart, this week the pair seems to be edging lower on correction. Fuelled by 100-day SMA, the Euro leaves t...
GBP/USD Stuck Between 1.50 And 1.52
May 05 07:41 GMT, by Dukascopy Swiss FX Group
On Monday, the Sterling declined against the US Dollar, but not as much as anticipated. The Cable reached the 100-day SMA at 1.5086, which prevented the pair from falling deeper. Ultimately, the Poun...
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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