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May 30 14:09 GMT
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Mid-Day Report: Risk Aversion Dominates after Poor Italian Bond Auction, Spain Yield Broke 6.7%
May 30 13:09 GMT, by ActionForex.com
European majors and risk markets were hit strongly today as Spanish 10 year yield jumped to a record high of 6.7%. Spread with German bund also continued to make new record high of 5.36%. Worries on the Spanish banking sector persisted and there was already consensus in the market that Spain will eventually need regional help to bailout it's banks...

Technical Outlook

EUR/USD Mid-Day Outlook
EUR/USD drops further to as low as 1.2421 so far today. Intraday bias remains on the downside and current decline is ex... - May 30 13:33 GMT
GBP/USD Mid-Day Outlook
GBP/USD drops further to as low as 1.5550 so far today and intraday bias remains on the downside. Current fall from 1.6... - May 30 13:29 GMT
USD/CHF Mid-Day Outlook
USD/CHF rises further to as high as 0.9667 so far today and intraday bias remains on the upside. Rise from 0.8930 resum... - May 30 13:27 GMT
USD/JPY Mid-Day Outlook
USD/JPY's sharp fall today argues that recent decline from 84.17 might be resuming. Intraday bias is cautiously on the ... - May 30 13:20 GMT
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Special Reports

Direct Yen-Yuan Trading Marks a Step Forward to Yuan Internationalization
May 29 15:40 GMT
Japanese yen (yen) and the Chinese Renminbi (yuan) will be allowed for direct t...
Ireland's Ability to Access Bond Markets Not Certain although Fiscal Pact Likely Approved
May 28 11:51 GMT
It is likely that Ireland will pass the European fiscal pact on the referendum ...
EU Informal Summit Brings No Surprises, Members Not Ready For Eurobonds
May 24 07:37 GMT
The informal EU summit ended with no concrete resolutions to deal with the sove...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/CHF – Buy at 0.9530
Although dollar resumed recent upmove yesterday on breach of last week’s high of 0.9612 and gain to 0.9670 would be seen, loss of... - May 30 13:06 GMT
Trade Idea Update: GBP/USD – Sell at 1.5720
Cable met renewed selling interest yesterday at 1.5717 and resumed recent decline as price dropped below 1.5630 (last week’s low)... - May 30 13:03 GMT
Trade Idea Update: EUR/USD – Sell at 1.2625
Although yesterday’s breach of previous support at 1.2495 (last week’s low) confirms recent decline has resumed and weakness to 1... - May 30 13:01 GMT
Trade Idea Update: USD/JPY – Stand aside
Although current breach of indicated support at 79.21 signals the rebound from 79.01 has ended at 80.15 and a retest of this leve... - May 30 12:59 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
Although the Australian dollar extended recent decline to as low as 76.85 ... - May 30 08:56 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Although aussie extended recent decline to as low as 0.9690 last week, as ... - May 30 08:38 GMT
USD/CHF Candlesticks and Ichimoku Analysis
The greenback found renewed buying interests around the Tenkan-Sen and has... - May 29 08:53 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY – Sell at 100.30
As euro has fallen again after consolidation and the breach of previous support at 99.37 confirms recent decline has resumed, sug... - May 30 09:15 GMT
Trade Idea: AUD/USD – Sell at 0.9990
Although aussie has retreated after rebounding to 0.9898 yesterday, break of recent low of 0.9690 is needed to signal recent decl... - May 30 09:09 GMT
Trade Idea: EUR/GBP – Stand aside
Although euro has remained narrowly after our anticipated retreat from 0.8102 to 0.7980 and further consolidation would be seen, ... - May 29 14:14 GMT
Trade Idea: USD/CAD – Buy at 1.0150
As the greenback has retreated after rising to 1.0312 late last week, retaining our view that a minor top is formed and consolida... - May 29 14:11 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Despite last week’s fall to 0.9690 (reached indicated projection leve... - May 30 10:51 GMT
EUR/CHF Elliott Wave Analysis
Despite last week’s brief bounce to 1.2076, lack of follow through bu... - May 30 10:47 GMT
GBP/CHF Elliott Wave Analysis
Although the British pound did find renewed buying interests around 1... - May 29 10:48 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 30 13:50 GMT

Action Bias

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

Fundamental Analysis Reports

US: What to Expect from Friday's ISM
May 30 13:53 GMT, by Danske Bank
With the release of the first-ever Markit PMI in May, we obtain yet another source of insight into the state of the US manufacturing sector. With a sample almost twice the size of the ISM sample and ...
Ireland Research: How to Trade a 'Yes'
May 30 13:49 GMT, by Danske Bank
The Irish people will vote on the European Fiscal Stability Treaty on Thursday 31 May. The referendum is crucial, as it determines a crossroads for Ireland. Securing a 'Yes' to the treaty is, in our ...
Spain Edges Towards the Abyss and Drags EURUSD with it...
May 30 12:19 GMT, by Forex.com
The markets took the lead from bond markets today and a broad-based sell off in risk occurred. Spanish 10-year bond yields reached a fresh euro-era high above 6.7% this morning. There is an air of in...
Pessimism Sends High Yielding Currencies South
May 30 11:18 GMT, by ICN.com
High yielding currencies reversed to the downside with the start of the session today, affected by pessimism and rising concerns, the thing that supported the U.S. dollar and Japanese Yen to rebound ...
European Market Update
May 30 10:12 GMT, by Trade The News
Risk aversion continued to envelope market sentiment sending European equities and various commodities lower, peripheral yields highs and refuge into safe havens instruments. Reports that the ECB wou...
Swiss KoF Improves
May 30 10:03 GMT, by Swissquote Bank SA
May KoF Leading Indicator rose to 0.81 (vs. 0.40) in May continuing what looks to be a steady trend higher, since bottoming out in January at -0.15. Clearly, this number indicates that the Swiss econ...
All Daily Fundamental Reports >>

Technical Analysis Reports

EURUSD: Extends Weakness, Pressure Builds On The 1.2400/1.2350 Levels
May 30 12:22 GMT, by FXTechstrategy
EURUSD: The pair continues to weaken selling off on Tuesday and following through lower in today's trading session. While maintaining below its broken key support at the 1.2620 level, further decline...
FX Thoughts for the Day
May 30 12:17 GMT, by Kshitij Consultancy Services
Cable fell below 1.5600 as expected during the day to record a low of 1.5550. Although it has bounced back from its low, the overall picture is still weak and today's break below 1.5600 can add furth...
EUR/USD Confirmed Bearish Breakout, 2008 Low 1.2330 In Sight
May 30 11:25 GMT, by FXTimes
The breakout from consolidation came with a break below 1.25 in the 5/29 US session. Then there was a end-of-session pullback to 1.25 with bears standing ground. After this picture-perfect breakout c...
Forex Technical Analysis
May 30 09:59 GMT, by DeltaStock Inc.
The downtrend here has been renewed, targeting 1.2330 support area. The intraday bias is negative as well, with an initial resistance at 1.2460 and crucial area around yesterday's break-out level at ...
USD/JPY Renews Downtrend, Hitting At The 79 Support
May 30 09:56 GMT, by ZIFX.com
On Tuesday Dollar/Yen traded within narrow 30 pip range. The currency couple depreciated from 79.64 to 79.32 yesterday, matching the negative money flow sentiment at almost -19%, closing the day at 7...
Today's Market Outlook
May 30 08:45 GMT, by Windsor Brokers Ltd
Near-term sentiment turned negative, as the pair lost ground again after brief correction and basing attempt failed. Upside rejection above 1.2600 and subsequent reversal that resulted in loss of nea...
All Daily Technical Reports >>

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Long Term Forecasts

Cross Asset Strategy: The Return of the Great Moderation? Not Yet, But...
Mar 16 15:50 GMT, by Danske Bank
Yesterday, S&P500 closed above 1400 for the first time since June 2008. Hence, the US stock mar...
Strong Canadian Dollar Ahead, But Mind the Potholes
Feb 24 16:10 GMT, by TD Bank Financial Group
The Canadian dollar's steady climb since the end of the last recession has put to bed any notion of...
Chinese Dragon To Unshackle Renminbi?
Jan 18 15:32 GMT, by Merk Hard Currency Fund
With the Year of the Dragon around the corner, will the renminbi be unshackled? Will there be a sur...
FX Forecast Update January 2012: Euro Pain - Stocky Gain
Jan 17 15:16 GMT, by Danske Bank
EUR/USD: Eurozone money market rates are expected to fall further and as a result we have opted to ...
U.S. Dollar & Currencies: Review and Outlook
Jan 05 17:22 GMT, by Merk Hard Currency Fund
In 2012, policy makers around the world may be driven by the realization that the theme of 2011 was...
All Long Term Forecasts >>
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