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May 17 00:11 GMT
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Mid-Day Report: Risks Recover Mildly after Selloff, Sterling Pressured after BoE Inflation Report
May 16 13:12 GMT, by ActionForex.com
Greece triggered selloff in risk markets seems to have exhausted today as markets recovered in early US session on US housing data. The near term situation is somewhat cleared that Council of State president Panagiotis Pikramenos will lead the caretaker government till election, which is now set to be on June 17 after political leaders met with Gr...

Technical Outlook

EUR/USD Mid-Day Outlook
With 1.2814 minor resistance intact, intraday bias in EUR/USD remains on the downside and deeper decline is expected to... - May 16 13:31 GMT
USD/CHF Mid-Day Outlook
With 0.9374 minor support intact, intraday bias in USD/CHF remains on the upside. Current rally from 0.8930 is expected... - May 16 13:31 GMT
USD/JPY Mid-Day Outlook
USD/JPY's recovery from 79.42 extends higher but is still limited below 80.61 resistance. Outlook remains cautiously be... - May 16 13:28 GMT
GBP/USD Mid-Day Outlook
GBP/USD drops to as low as 1.5888 so far today and touched mentioned 38.2% retracement of 1.5234 to 1.6300 at 1.5893. I... - May 16 13:11 GMT
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Special Reports

BOE Revised Lower Growth and Inflation Forecasts
May 16 12:39 GMT
The BOE released a dovish quarterly inflation report in May, lowering both infl...
Eurozone Avoids Recession Temporarily, More Negative Effects To Be Seen In 2Q12
May 16 07:46 GMT
The Eurozone economy turned out to be better than expected in 1Q12. Notwithstan...
RBA Releases Dovish Minutes in May
May 15 06:29 GMT
The May minutes released by the RBA came in more dovish than expected. Together...
All Special Reports >>

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Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF – Buy at 0.9380
As the greenback has retreated after intra-day brief rise to 0.9471, suggesting minor consolidation would be seen and test of 0.9... - May 16 15:21 GMT
Trade Idea Wrap-up: GBP/USD – Sell at 1.6010
As cable has rebounded after intra-day selloff to 1.5889, suggesting a minor low is formed and consolidation would be seen and te... - May 16 15:17 GMT
Trade Idea Wrap-up: USD/JPY – Buy again at 79.90
Despite intra-day anticipated rise to 80.56, as the greenback has retreated after faltering below indicated previous resistance a... - May 16 15:15 GMT
Trade Idea Wrap-up: EUR/USD – Sell at 1.2810
As the single currency has rebounded after intra-day fall to 1.2682, suggesting consolidation would be seen and retracement to 1.... - May 16 15:14 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
Aussie tumbled this month and decline accelerated after the breach of prev... - May 16 09:30 GMT
AUD/USD Candlesticks and Ichimoku Analysis
As aussie has fallen again after brief bounce to 1.0144 late last week, su... - May 16 08:49 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Despite falling to 1.6051 yesterday, the British pound did find support ar... - May 15 08:43 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP – Sell at 0.8080
Despite intra-day marginal fall to 0.7951 (yesterday’s low was 0.7953), lack of follow through and current rebound suggest a mino... - May 16 14:45 GMT
Trade Idea: USD/CAD – Buy at 0.9900
As the greenback has retreated after intra-day brief rise to 1.0131, suggesting minor top is formed and consolidation would be se... - May 16 14:39 GMT
Trade Idea: EUR/JPY – Sell at 103.75
Although the single currency has fallen again after brief recovery yesterday, loss of near term downward momentum should prevent ... - May 16 09:08 GMT
Trade Idea: AUD/USD – Sell at 1.0015
As aussie has recovered after intra-day fall to 0.9870, suggesting minor consolidation would be seen and correction to 1.0000 is ... - May 16 09:02 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Aussie’s decline gathered momentum and last week’s breach of psycholo... - May 16 10:45 GMT
EUR/CHF Elliott Wave Analysis
Although euro’s near term narrow range trading is likely to continue ... - May 16 10:21 GMT
GBP/CHF Elliott Wave Analysis
As the British pound has rallied again this month after early anticip... - May 15 10:16 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 17 00:05 GMT

Action Bias

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EURUSD- NE↓ DN↓ DN↓ DN
USDJPY- NE- NE- NE- NE
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USDCHF- NE↑ UP↑ UP↑ UP
USDCAD↑ UP↑ UP↑ UP- NE
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Forex Brokers

Fundamental Analysis Reports

Highlights of the Minutes from the April 24/25 FOMC meeting
May 16 19:55 GMT, by RBC Financial Group
The Minutes of the April 24/25 FOMC meeting indicated that Committee members viewed that the economy "continued to expand moderately" in the period since the last meeting in March. While some members...
FOMC Minutes a Non-Event Against USD Strength: USD Index Approaches 2012 High
May 16 19:29 GMT, by FXTimes
The FOMC Minutes was released. As far as stimulus goes: “Several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the do...
US Industrial Production Posts Larger-than-Expected Gain in April
May 16 15:30 GMT, by RBC Financial Group
US industrial production jumped 1.1% in April, beating market expectations going into the report for a 0.6% increase. The previously reported flat readings for both February and March were revised to...
US Housing Starts Rose in April; First Quarter Revised Up
May 16 15:28 GMT, by RBC Financial Group
Privately owned housing starts in the US rose 2.6% in April to an annualized pace of 717,000 units, from a revised 699,000 units in March (previously reported as 654K,000) Market expectations going i...
Canadian Manufacturing Sales Jump 1.9% in March
May 16 15:27 GMT, by RBC Financial Group
Canadian manufacturing sales rose 1.9% in March, rebounding from 0.2% and 2.3% drops in February and January, respectively. Much of the gain in March was concentrated in transportation and petroleum ...
Housing Starts Break 700K for the Third Time Since 2008
May 16 14:31 GMT, by TD Bank Financial Group
Housing starts appear to have reached a new plateau above 700K in the first few months of 2012. While we do not expect a major resurgence in housing construction over the next several months, this su...
All Daily Fundamental Reports >>

Technical Analysis Reports

USD/JPY Breaks Above Channel Resistance; Trades at May High
May 16 14:14 GMT, by FXTimes
USD/JPY indeed bottomed out in the short-term and broke above a declining channel resistance. The 1H chart shows the bottoming formation. There is resistance in the 80.50-80.60 area. This is the May ...
USD/CAD Breaks Key Resistance Opening Up the 1.30 Handle
May 16 13:46 GMT, by FXTimes
The USD/CAD finally breaks above the 1.0050-1.0060 resistance, suggesting a bullish trend developing after a period of sideways trading below 1.0050. Looking at the 1H chart we see that the previous ...
EUR/USD - Reward to Risk Assessment for Buying Near the 1.2625 Support
May 16 12:36 GMT, by FXTimes
The EUR/USD is trading at a 4-month low and continues to be weighed by the uncertainty in the Greek parliament, which is headed for a re-election on June 17. One ray of light does shine from the dipl...
FX Thoughts for the Day
May 16 12:34 GMT, by Kshitij Consultancy Services
Cable extended its downmove further breaking below its 55-Week-MA (1.5940) to a low of 1.5889 and is now bouncing back from its low. The strong uptrend since Jan-12 has been broken now and a failure ...
GBP/USD Trades Below the 2012 Trendline After BoE Inflation Report
May 16 11:59 GMT, by FXTimes
The GBP/USD was already breaking a key support area ahead of the BoE inflation report and Mervyn King's press conference. The 1.5990-1.60 area was a rising trendline that goes back to January 2012. A...
USD/JPY Recovery Extends To 80.45
May 16 09:52 GMT, by ZIFX.com
On Tuesday Dollar/Yen increased with almost 55 pips. The currency couple appreciated from 79.80 to 80.34 yesterday, matching the positive money flow sentiment at nearly +6%, closing the day at 80.16....
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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