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Jul 29 04:35 GMT

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Daily Report: Quiet Consolidation Continues, Yen Steady as after Weak Data
Jul 29 03:33 GMT, by ActionForex.com
The markets remained rather dull so far this week. DOW ended 22.02 pts higher at 16892.59 after initial dip to 16877.72. Asian equities are mildly higher with Nikkei up 60 pts while HK HSI is up 50 pts at the time of writing. The dollar index continues to struggle in tight range around 81 handle as the forex markets are generally stuck in tight ra...

Technical Outlook

AUD/USD Daily Outlook
AUD/USD's consolidation pattern from 0.9504 continued is still in progress and intraday bias remains neutral. More corr... - Jul 29 04:07 GMT
USD/CAD Daily Outlook
Intraday bias in USD/CAD remains on the upside for the moment. Current development suggests that correction from 1.1278... - Jul 29 04:05 GMT
EUR/USD Daily Outlook
With 1.3486 minor resistance intact, deeper fall is expected in EUR/USD. Medium term trend could have reversed and thei... - Jul 29 04:02 GMT
GBP/USD Daily Outlook
Focus remains on 1.6952 support in GBP/USD. Decisive break there will argue that 1.7190 was already the medium term top... - Jul 29 03:59 GMT

Special Reports

Upbeat Chinese PMI Reflects Feed-Through Of Stimulus, More In 2H14
Jul 25 02:42 GMT
Chinese economic growth has shown signs of gathering momentum again, thanks to ...
RBNZ Announced Last Rate Hike Before Pause To Assess Impacts
Jul 24 06:01 GMT
The RBNZ raised the OCR for a 4th consecutive time, by +25 bps to 3.5%, in July...
BOE Minutes Toned Down Rate Hike Speculations
Jul 23 10:13 GMT
Despite rising growth momentum, BOE policymakers remained divided on whether wh...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.8980
As dollar has eased after failing to penetrate last week's high at 0.9052, suggesting minor consolidation below this level would ... - Jul 28 15:38 GMT
Trade Idea Wrap-up: GBP/USD - Sell at 1.7050
Although cable's recovery from Friday's low of 1.6961 suggests minor consolidation would be seen and corrective bounce to 1.7000 ... - Jul 28 15:28 GMT
Trade Idea Wrap-up: EUR/USD - Buy at 1.3400
Although the single currency has recovered after holding above last week's low at 1.3421, reckon the Ichimoku cloud (now at 1.345... - Jul 28 15:25 GMT
Trade Idea Wrap-up: USD/JPY - Hold short entered at 101.70
Although dollar has eased after faltering below Friday's high of 101.94, break of previous resistance at 101.60 is needed to sugg... - Jul 28 15:21 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/USD Candlesticks and Ichimoku Analysis
The single currency continued to head south in line with our bearish expec... - Jul 28 07:21 GMT
USD/JPY Candlesticks and Ichimoku Analysis
As the greenback has rebounded after holding above this month's low at 101... - Jul 28 06:46 GMT
EUR/JPY Candlesticks and Ichimoku Analysis
The single currency only recovered to 138.45 before running into renewed s... - Jul 25 09:39 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.7855
Lack of follow through buying last week's breach of resistance at 0.7933 and the subsequent retreat from 0.7940 suggest near term... - Jul 28 14:41 GMT
Trade Idea: USD/CAD - Buy at 1.0770
The greenback has rallied on Friday and broke above previous resistance at 1.0794, adding credence to our view that low has been ... - Jul 28 14:34 GMT
Trade Idea: EUR/JPY - Buy at 136.70
Although the single currency retreated after last week's rebound to 137.25, as long as last week's low at 136.37 holds, consolida... - Jul 28 08:56 GMT
Trade Idea: AUD/USD - Stand aside
Despite last week's stronger-than-expected rebound to 0.9472, the subsequent retreat has retained our consolidative view and test... - Jul 28 08:49 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

USD/JPY Elliott Wave Analysis
Dollar's rebound after holding above support at 101.07 has retained o... - Jul 28 09:50 GMT
EUR/USD Elliott Wave Analysis
The single currency dropped again after meeting renewed selling inter... - Jul 28 09:42 GMT
EUR/JPY Elliott Wave Analysis
The single currency did meet renewed selling interest at 138.45 (we r... - Jul 25 10:25 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: Jul 29 04:30 GMT

Action Bias

  Hourly 6 Hours Daily Weekly
EURUSD↓ DN- NE↓ DN- NE
USDJPY↑ UP↑ UP↑ UP- NE
GBPUSD↓ DN- NE↓ DN- NE
USDCHF↑ UP- NE↑ UP- NE
USDCAD- NE↑ UP↑ UP- NE
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Fundamental Analysis Reports

Asian Market Update: Japan Unemployment Rate Rises Despite Multiyear High In Job Availability
Jul 29 04:20 GMT, by Trade The News
Japan economic data for June has been consistently disappointing, with soft retail trade and labor figures released today tracking worse than expected exports, CPI, and manufacturing. Jobless rate ro...
The U.S Dollar Set For A Big Week
Jul 29 03:45 GMT, by Blackwell Global
The U.S dollar has been a little lacklustre for some time, but talks of its downfall may have been greatly exaggerated. It has been quite clear now that the U.S economy has had a bit of a tough time;...
GBPUSD Close To Trend Line
Jul 29 03:42 GMT, by Blackwell Global
The Pound has given back all of the gains made early in the month and is now on the trend line. There is not a great deal of news in the market early this week so it is likely to play off technicals,...
Nylon Handover: Sheepish Markets Awaiting The 'Real' Data
Jul 29 02:19 GMT, by ThinkForex
Very quiet session overall which saw currencies hold around their weekly closing prices, albeit a few pips here and there. US Flash Servives PMI fell short of expectations but only marginally below t...
Dollar Inclines Versus Majors Before Fed's Meeting
Jul 29 01:57 GMT, by ICN.com
The greenback strengthened against other major currencies before the two-day Federal Reserve Bank's meeting, where investors are weighing on the meeting's results. From another side, markets are wait...
Japan's Jobless Rate Exceeds Estimates In June
Jul 29 01:56 GMT, by ICN.com
Japanese jobless rate surpassed analysts' estimates during June's reading, where Japanese economy currently witnessing raised challenges in stabilizing prices and reaching its 2 percent inflation tar...
All Daily Fundamental Reports >>

Technical Analysis Reports

The Daily Wave Analysis
Jul 29 04:17 GMT, by Admiral Markets
A break below 1.3425 would break the 138.2% Fibonacci level of wave X (vs wave W) and the alternative count would most likely be a wave 3 (both blue). Price is moving down in a well balanced down tre...
Daily Technical Analysis
Jul 29 02:23 GMT, by FX Instructor
The EURUSD didn't make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term especially if price able to make a clear break below 1.34...
USDCAD Gains To Continue?
Jul 29 02:16 GMT, by ThinkForex
The Canadian dollar is very light on news, with only GDP m/m likely to have any major input on the single currency. Forecast at 0.1% it is hardly setting the world alight but a reading below -0.1% sh...
GBPUSD - Susceptible With Caution
Jul 29 02:12 GMT, by FXTechstrategy
GBPUSD - With continued downside pressure seen the past week, further downside is likely though a correction could occur in the new week. On the other hand, support lies at the 1.6921 level where a b...
Daily Forex Update: USD/MXN
Jul 29 02:05 GMT, by Autochartist
USD/MXN continues to rise after the recent breakout of the 4-hour Triangle chart pattern. USD/MXN is expected to rise to the target level 13.0353 in the nearest time. The stop-level for this forecast...
GBPUSD Bulls Standing on the Precipice
Jul 28 13:33 GMT, by Forex.com
It's been an excruciating slow start to the trading week with an absolutely barren economic calendar in both Asia and Europe today. Over the weekend, news hit the wires that the US and Europe are pre...
All Daily Technical Reports >>

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Long Term Forecasts

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...
USD/CAD - 2013 In Review
Jan 02 02:23 GMT, by MarketPulse
The Canadian dollar looked sharp as we began 2013, but struggled badly late in the year, as the cur...
USD/JPY - 2013 In Review
Dec 26 02:31 GMT, by MarketPulse
The Bank of Japan continued its radical monetary program in 2013, and the yen responded with sharp ...
All Long Term Forecasts >>
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