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Sep 02 08:26 GMT

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Daily Report: Risk Aversion Continues, Aussie Lower on GDP Miss
Sep 02 04:47 GMT, by ActionForex.com
US equities tumbled overnight with DJIA losing -469.68 pts, or -2.84% to close at 16058.35, after breaching 16000 handle. S&P 500 also dropped -58.33 pts, or -2.96%, to close at 1913.85. Asian markets opened lower but quickly recovered. Sentiments were weighed down by renewed worry over slowdown in China and spillover to the global economy. IM...

Technical Outlook

GBP/JPY Daily Outlook
Focus in GBP/JPY is back to 61.8% retracement of 174.86 to 195.86 at 182.88. Sustained trading there is an early sign o... - Sep 02 08:13 GMT
EUR/JPY Daily Outlook
The break of 134.99 support suggests that fall from 138.99 is resuming. Intraday bias turned to the downside. As noted ... - Sep 02 08:11 GMT
EUR/CHF Daily Outlook
Intraday bias in EUR/CHF remains neutral for the moment. As long as 1.0689 resistance turned support holds, further rem... - Sep 02 08:08 GMT
EUR/USD Daily Outlook
Outlook in EUR/USD is unchanged. Deeper fall is expected with 1.1363 minor resistance intact. The corrective rise from ... - Sep 02 05:10 GMT

Special Reports

RBA Left Rate Unchanged, Stayed Neutral Despite Chinese Slowdown And Equity Volatility
Sep 01 08:01 GMT
As expected, the RBA left the cash rate unchanged at 2%. Despite recent stock m...
Limited Impacts Expected from PBOC's Belated Easing
Aug 26 12:52 GMT
PBOC cut its policy rates by -25 bps, taking the benchmark one-year lending rat...
Fed's Rate Hike Speculations Shrank. Less Likely to Hike Rates in September
Aug 26 12:41 GMT
The China-led global financial market crash has made the case of a September Fe...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea : USD/CHF - Sell at 0.9670
As the greenback has rebounded again after holding above yesterday's low at 0.9569, suggesting initial upside risk remains for fu... - Sep 02 07:48 GMT
Trade Idea: GBP/USD - Stand aside
Although the British pound has remained under pressure after resuming recent decline and near term downside risk remains for the ... - Sep 02 07:43 GMT
Trade Idea : EUR/USD - Stand aside
Although the single currency has retreated after faltering below yesterday's high of 1.1332 and consolidation with initial downsi... - Sep 02 07:38 GMT
Trade Idea: USD/JPY - Stand aside
Despite yesterday's fall to 119.23, the subsequent rebound suggests low has possibly been formed there and consolidation above th... - Sep 02 07:31 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

NZD/USD Candlesticks and Ichimoku Analysis
Kiwi met renewed selling interest at 0.6709 last month and dropped quite s... - Sep 02 07:55 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Despite recovering to 0.7206 late last week, aussie met renewed selling in... - Sep 02 07:51 GMT
GBP/USD Candlesticks and Ichimoku Analysis
The British pound ran into heavy selling interest at 1.5818 last week and ... - Sep 01 09:35 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea : AUD/USD - Sell at 0.7075
Yesterday's selloff together with the breach of previous support at 0.7043 signals recent downtrend has resumed and bearishness r... - Sep 02 08:21 GMT
Trade Idea: EUR/GBP - Buy at 0.7280
The single currency found good support at 0.7245 and has rebounded, suggesting the correction from 0.7423 has possibly ended ther... - Sep 01 14:41 GMT
Trade Idea: USD/CAD - Stand aside
Despite yesterday's brief bounce to 1.3327, the subsequent retreat has retained our view that further consolidation below last we... - Sep 01 14:33 GMT
Trade Idea: EUR/JPY - Sell at 136.50
As the single currency has fallen again after brief recovery, suggesting the decline from 139.01 top is still in progress and may... - Sep 01 10:32 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Cable's retreat from 1.5818 turned out to be much stronger than expec... - Sep 01 10:53 GMT
GBP/JPY Elliott Wave Analysis
Sterling's retreat from 195.25 turned out to be much stronger than ex... - Sep 01 10:44 GMT
EUR/USD Elliott Wave Analysis
Although the single currency surged to 1.1714 last week, the subseque... - Aug 31 10:49 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: Sep 02 08:20 GMT

Action Bias

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

AUD/USD Hit By Weak GDP Data, Asian Equities Lower
Sep 02 07:48 GMT, by Swissquote Bank SA
Canada's June GDP surprised to the upside yesterday as it came in at 0.5%m/m versus 0.2% median forecast and -0.2% previous reading while the economy contracted by 0.5% saar during the second quarter...
Dollar Running Into Resistance
Sep 02 07:17 GMT, by KBC Bank
Yesterday, the dollar lost some ground against the yen and the euro as global equities sold off. However, the damage was limited given the losses on global equity markets. Investors apparently didn't...
Canada's Economy Slides Into Recession In Q2
Sep 02 07:07 GMT, by Dukascopy Swiss FX Group
The worst expectations were confirmed as the Canadian economy slid into recession in the first half of the year for the first time since the Great Recession. Canada's economic output contracted 0.5% ...
Euro Zone Unemployment Rate At 3-Year Low, Italy Grows 0.3% In Q2
Sep 02 07:06 GMT, by Dukascopy Swiss FX Group
The jobless rate in the 19-nation currency bloc declined more than expected in July, reaching the lowest level in more than three years. The Euro zone unemployment stood at 10.9% in the reported mont...
Growth In US Manufacturing Sector Decelerates In August, Construction Spending At 7-Year High
Sep 02 07:04 GMT, by Dukascopy Swiss FX Group
Activity in the US manufacturing sector slowed in August to the weakest level in more than two years, while construction spending surged to the highest level in more than seven years. According to th...
Growth In UK Manufacturing Sector Slows In August, Net Lending Increases Most Since 2008
Sep 02 07:02 GMT, by Dukascopy Swiss FX Group
Growth in British manufacturing sector slowed in August as export orders dropped for a fifth straight month. UK manufacturing PMI dropped to 51.5 last month, compared with 51.9 in July. Markit Econom...
All Daily Fundamental Reports >>

Technical Analysis Reports

Today's Market Outlook
Sep 02 08:02 GMT, by Windsor Brokers Ltd
The Euro consolidates under fresh recovery highs at 1.1318/31, posted yesterday. Consolidation is entrenched within 100-pips range and expected to precede fresh attempts higher. Yesterday's long bull...
EUR/USD Was Stopped By 23.6% Fibo
Sep 02 07:57 GMT, by Dukascopy Swiss FX Group
EUR/USD advanced for a third working day in a row on Tuesday, but the cross failed to overcome the nearest resistance at 1.1295 (23.6% Fibo) and close above the 1.13 round level. According to daily t...
GBP/USD Stuck Around 1.53
Sep 02 07:56 GMT, by Dukascopy Swiss FX Group
The Sterling fell to the lowest in in two months on Tuesday, as weak UK PMI data put pressure along with the plunging equity markets around the world. As a result, the support cluster around 1.5320 w...
USD/JPY Attempts To Regain Its Bullish Momentum
Sep 02 07:55 GMT, by Dukascopy Swiss FX Group
The US Dollar suffered more losses on Tuesday, amid weaker-than-expected fundamental data from both the US and China. The USD/JPY breached the immediate support cluster and ultimately fell under the ...
XAU/USD Failed To Overcome Weekly PP
Sep 02 07:54 GMT, by Dukascopy Swiss FX Group
Gold attempted to advance higher on Tuesday, but any gains were capped by the weekly pivot point at 1,140. In case bulls and unable to push the price above this resistance of medium difficulty, then ...
Foreign Exchange Market Commentary
Sep 02 07:46 GMT, by HY Markets
THE EURO was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possib...
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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