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Mar 06 04:32 GMT

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Mid-Day Report: Euro Extends Down Trend after Knee Jerk Reactions to ECB Draghi
Mar 05 14:24 GMT, by ActionForex.com
ECB left policies unchanged as widely expected. Euro was originally lifted by the positive projections. However, the common currency quickly reversed as Draghi said that bond yields could fall to ECB's deposit rate, which is -0.2%. ECB president Draghi said that the central bank will start purchasing government bonds on March as part of the EUR 1....

Technical Outlook

EUR/USD Mid-Day Outlook
EUR/USD's down trend continues after brief recovery and reaches as low as 1.1006 so far. Intraday bias remains on the d... - Mar 05 14:53 GMT
EUR/JPY Mid-Day Outlook
Intraday bias in EUR/JPY remains on the downside for the moment. Corrective rise from 130.13 should have already comple... - Mar 05 14:35 GMT
GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains on the downside for the moment. As noted before, corrective rebound from 1.4950 has co... - Mar 05 14:33 GMT
USD/JPY Mid-Day Outlook
USD/JPY rises mildly today but is still staying below 120.46 resistance. Intraday bias remains neutral first. Overall, ... - Mar 05 14:29 GMT

Special Reports

ECB Unveiled Details Of Additional QE, Raised Growth Outlook
Mar 06 02:02 GMT
The ECB unveiled details of how the additional QE program would be implemented....
BoC Left Rate Unchanged, Stance More Neutral
Mar 05 02:32 GMT
As expected, the BOC left the monetary policy unchanged in March, following a s...
China Watch: Flash PMI Signaled Manufacturing Activities Expanded. Deflation Risks Heightened, An Official Warned
Feb 25 10:36 GMT
China's flash manufacturing PMI by HSBC surprisingly drifted back to above 50, ...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.9595
As the greenback has risen again after intra-day brief retreat to 0.9650, adding credence to our view that recent upmove is still... - Mar 05 15:39 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
As cable has remained under pressure after yesterday's selloff below indicated level at 1.5333-37 (previous support and 38.2% Fib... - Mar 05 15:36 GMT
Trade Idea Wrap-up: EUR/USD - Stand aside
Despite intra-day brief bounce to 1.1115, as the single currency has fallen again in part due to the dovish remarks from Draghi, ... - Mar 05 15:33 GMT
Trade Idea Wrap-up: USD/JPY - Stand aside
Although intra-day break of this week's high of 120.27 signals near term upside risk remains for further gain to previous chart r... - Mar 05 15:29 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/GBP Candlesticks and Ichimoku Analysis
As the single currency has fallen again after brief recovery, adding crede... - Mar 05 08:53 GMT
EUR/CHF Candlesticks and Ichimoku Analysis
Although the single currency has retreated after faltering below resistanc... - Mar 05 08:37 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Although aussie retreated after meeting resistance at 0.7913, as price has... - Mar 04 08:59 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Stand aside
The single currency fell again today and has remained under pressure, suggesting near term downside risk remains for recent decli... - Mar 05 15:20 GMT
Trade Idea: USD/CAD - Stand aside
As the greenback slipped again today, dampening our bullishness and further consolidation would be seen, however, still reckon do... - Mar 05 15:15 GMT
Trade Idea: EUR/JPY - Sell at 133.20
This week's selloff from 134.60 adds credence to our view that the fall from 136.69 is still in progress and further weakness to ... - Mar 05 09:53 GMT
Trade Idea: AUD/USD - Hold long entered at 0.7800
Aussie's rebound after finding good support at 0.7752 earlier this week has retained our bullishness and as long as this level ho... - Mar 05 09:35 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
As the single currency has remained under pressure, adding credence t... - Mar 05 10:17 GMT
USD/CAD Elliott Wave Analysis
As the greenback has retreated after meeting resistance at 1.2565 ear... - Mar 05 10:11 GMT
AUD/USD Elliott Wave Analysis
Although aussie retreated after early rebound to 0.7913, as long as i... - Mar 04 10:00 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: Mar 06 04:25 GMT

Action Bias

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

Fundamental Analysis Reports

Euro Nosedives As ECB Announces QE To Start Monday
Mar 06 02:59 GMT, by ThinkForex
With bond yields across the Eurozone increasingly negative, across the yield curve, EURUSD is not a market I would want to be calling a bottom on any time soon. The decline from 1.40 highs is becomin...
The Daily Forecaster: USDJPY
Mar 06 02:56 GMT, by MarketPulse
The break above 120.26 has turned the tables back to bullish. It suggests that the 118.23 low was the final low in the triangle and therefore, with the broader picture Dollar bullish, we should see g...
Bulls And Bears Await U.S. Jobs Report
Mar 06 02:41 GMT, by MarketPulse
It's been a busy week in the forex market thanks to a bevy of major central bank rate statements and economic data releases. But currency traders won't rest before the major data event of any month: ...
The ECB Is Finally Ready To Buy Bonds On Monday
Mar 06 02:31 GMT, by Danske Bank
The ECB will not buy bonds with yields below the deposit rate. This does NOT mean that the ECB is considering cutting the deposit rate further. If the ECB decided to lower the deposit rate further, i...
Research Note: Februrary NFP Prep
Mar 06 02:15 GMT, by Forex.com
The February Non-Farm Payroll report will be released tomorrow at 8:30 ET (13:30 GMT), with expectations centered on a headline reading of 241k. My model suggests that the report could print a tick b...
ECB: Draghin The EUR Lower…
Mar 06 02:10 GMT, by Forex.com
Finally, a good news story for Mario Draghi. A fairly uneventful ECB meeting, apart from one irate local journalist in Nicosia, saw Draghi and co. announce no new monetary measures, instead the focus...
All Daily Fundamental Reports >>

Technical Analysis Reports

Foreign Exchange Market Commentary
Mar 06 04:09 GMT, by HY Markets
THE EURO closed lower on Thursday as it consolidates some of the rally off last Thursday's low. The lowrange close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bullis...
Australia 200 – Steadies Around 5900
Mar 06 02:53 GMT, by MarketPulse
Over the last few days the Australia 200 index has eased back to around 5900 where it is presently consolidating. This was after just recently reaching yet another multi-year high near 6000 a few day...
AUD/USD – Remains Within Well Established Trading Range Below 0.7850
Mar 06 02:51 GMT, by MarketPulse
A few days ago the Australian dollar made repeated attempts to move up strongly to the resistance level at 0.7850 however it was rejected every time and sent back easing lower. It has now eased back ...
USDJPY - Recovering With Caution
Mar 06 02:33 GMT, by FXTechstrategy
USDJPY - Broader outlook for USDJPY may be higher in the medium term but faces consolidation to downside threats in the short term. While the 120.47/81 zone caps, our bias remains lower. On the downs...
RBNZ Derails NZDJPY's rally
Mar 06 02:24 GMT, by Forex.com
As my colleague Matthew Weller pointed out here, the RBNZ said it was looking into ways to tighten rules around lending for residential property investors by targeting rental properties. The bank is ...
USD Head And Shoulders Above AUD
Mar 06 02:08 GMT, by Forex.com
Today's focus has rightly been on the ECB and the euro. But that's not to say the non-EU markets have been dull. The US dollar, for one, has rallied strongly against most major currencies while the K...
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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