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May 23 19:27 GMT

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US Session: Orders and Options Watch
May 23 14:35 GMT, by ActionForex.com
EUR: The single currency has continued to move higher on dollar's broad-based weakness and offers at 1.2880, 1.2900 and 1.2920 were filled, however, sell orders are still noted at 1.2930 and also at 1.2950-60, followed by mixture of offers and stops at 1.2990-1.3000. On the downside, bids are raised to 1.2875-80 and also in good size at 1.2820-30,...

Technical Outlook

EUR/USD Mid-Day Outlook
Consolidation from 1.2796 is still in progress and intraday bias remains neutral. Another fall remains in favor and bel... - May 23 13:03 GMT
GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains on the downside for the moment. Fall from 1.5606 is still in progress for retest of 1.... - May 23 13:01 GMT
USD/CHF Mid-Day Outlook
Intraday bias in USD/CHF remains neutral for the moment and some more consolidations would be seen below 0.9838. Consol... - May 23 13:00 GMT
USD/JPY Mid-Day Outlook
USD/JPY formed a short term top at 103.73 and consolidations from there is still in progress. Intraday bias is neutral ... - May 23 12:56 GMT

Special Reports

Bernanke's Testimony And FOMC Minutes Intensified Speculations For QE Tapering
May 23 04:12 GMT
Speculations over Fed's tapering of QE heightened after Chairman Bernanke's tes...
Three Out of Nine BOE Members Proposed to Expand the Size of Asset Purchases
May 22 13:29 GMT
The BOE minutes unveiled that all 9 MPC members voted for keeping the Bank rate...
RBA Minutes Signaled Rate Cut Was Needed To Boost Growth
May 21 04:59 GMT
The RBA released minutes for the May monetary policy meeting, explaining the ra...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Sell at 0.9750
As the greenback has recovered after intra-day selloff to 0.9634, suggesting minor consolidation would be seen and recovery to th... - May 23 15:46 GMT
Trade Idea Wrap-up: GBP/USD - Sell at 1.5175
Despite intra-day initial fall to 1.5014, lack of follow through selling on break of yesterday's low of 1.5020 and current reboun... - May 23 15:43 GMT
Trade Idea Wrap-up: EUR/USD - Sell at 1.2965
Euro's rebound after intra-day brief fall to 1.2821 suggests first leg of decline from 1.2998 has ended there and consolidation w... - May 23 15:36 GMT
Trade Idea Wrap-up: USD/JPY - Sell at 102.65
Despite intra-day selloff to 100.83, as the greenback found support there and has recovered, suggesting consolidation above this ... - May 23 15:33 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/GBP Candlesticks and Ichimoku Analysis
Despite falling to 0.8420 late last week, the single currency found good s... - May 23 10:18 GMT
EUR/CHF - Candlesticks and Ichimoku Analysis
The single currency surged again this week and finally broke above previou... - May 23 09:40 GMT
AUD/JPY Candlesticks and Ichimoku Analysis
The Australian dollar met renewed selling interest at 102.15 in line with ... - May 22 09:49 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8520
Although yesterday's rally to 0.8590 suggests low has possibly been formed at 0.8398 earlier last month and consolidation with up... - May 23 14:50 GMT
Trade Idea: USD/CAD - Buy at 1.0260
Although the greenback has retreated after rising to 1.0393 earlier today and minor consolidation below this level would be seen,... - May 23 14:45 GMT
Trade Idea: EUR/JPY - Stand aside
Despite yesterday's rally to 133.82, the subsequent reversal from there together with the break of support at 130.93 confirm a te... - May 23 09:02 GMT
Trade Idea: AUD/USD – Turn long at 0.9625
Despite resuming recent decline to 0.9593, loss of near term downward momentum should prevent sharp fall below said support and p... - May 23 08:55 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
Despite last week's fall to 0.8420, as the single currency found good... - May 23 11:26 GMT
USD/CAD Elliott Wave Analysis
We recommended in our previous update made last Thursday (16 May) to ... - May 23 11:19 GMT
AUD/USD Elliott Wave Analysis
Aussie has fallen again after brief recovery, the strength of recent ... - May 22 10:53 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 23 20:20 GMT

Action Bias

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

Fundamental Analysis Reports

U.S. New Home Sales Rise in April
May 23 15:25 GMT, by RBC Financial Group
Sales of new single-family homes in the US rose 2.3% to an annualized 454,000 units in April 2013 and built on an upwardly revised 3.5% increase to 444,000 in March (previously reported as 417,000). ...
U.S. Initial Claims Dropped in the Week Ending May 18
May 23 15:23 GMT, by RBC Financial Group
US initial claims dropped 23,000 the week ending May 18, 2013 after jumping 35,000 to an upwardly revised 363,000 (was 360,000) the previous week. The decline in the latest week left the level of cla...
Chinese Weakness and Monetary Policy Uncertainty Triggers Sell-off. The End of the Risk Rally? Probably Not
May 23 13:41 GMT, by Danske Bank
This morning, risky assets have been selling off - most notably the Japanese stock market is down more than 7%. The sell-off has continued in European trading with European stocks trading sharply low...
Is this What the End of QE Looks Like?
May 23 12:20 GMT, by Forex.com
There have been some violent moves across asset classes this morning after a perfect storm of central bank chatter, weak Chinese economic data and some large declines in Asian equities knock risk sen...
The Capitulation Trade Has Short Yen Positions Worried
May 23 11:24 GMT, by OANDA
Risk aversion seen in Asia is showing little signs of slowing up this morning as we head into the North American session. There has been a rush to safety with both the CHF and Yen higher across the b...
Yen Jumps On China Growth Concern, Pound Rise After UK GDP Data
May 23 10:51 GMT, by ICN.com
Sterling pound hit session highs against the dollar on Thursday, after official report confirmed that the U.K. economy expanded by 0.3% in the first quarter of this year. The Office for National Stat...
All Daily Fundamental Reports >>

Technical Analysis Reports

USD/JPY Puts in a Short-term Top
May 23 14:23 GMT, by FXTimes
Top: The USD/JPY fell sharply during the 5/23 Asian-European session. It is establishing a top, but is challenged by some support factors during the 5/23 US session. We have a rising short-term trend...
EUR/USD Fails to Extend Bearish Reaction and Rallies Above 1.29
May 23 13:10 GMT, by FXTimes
Reaction after Bernanke: The main event risk yesterday (5/22) was the Bernanke testimony in front of the Join Economic Committee. The reaction after it was a strong USD across the board. The EUR/USD ...
GBP/AUD Forming a Double Top and Threatening a Rising Trendline
May 23 12:46 GMT, by FXTimes
Bullish market: GBP/AUD has been in a bull market since the beginning of April. The 4H chart shows that very clearly as price continues to makes higher highs and lows, remains above a rising trendlin...
GBP/USD Trades in a Falling Channel; Bounces off Support Pivot
May 23 12:18 GMT, by FXTimes
Support pivot: After a bearish push that followed softer UK inflation data and Bernanke's testimony, the GBP/USD finally found support around a previous support pivot near 1.5025.The 4H RSI also reso...
Forex Technical Analysis
May 23 11:18 GMT, by DeltaStock Inc.
The intraday bias is positive above 1.2860, for another rise towards 1.3000 area. Minor intraday resistance is projected at 1.2903 and key support on the downside is 1.2798.
EURUSD - Bearish, Faces Further Downside Threats
May 23 10:10 GMT, by FXTechstrategy
EURUSD - With a failed attempt on the upside seeing EUR closing lower on Wednesday, further down side is likely in the days ahead. A return to the 1.2750/35 levels, its key support levels is now expe...
All Daily Technical Reports >>

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Long Term Forecasts

Is the U.K. Economy (Finally) Turning the Corner?
Apr 29 15:48 GMT, by Wells Fargo Securities
Recently released data show that real GDP in the United Kingdom grew 0.3 percent (1.2 percent at an...
Easy Money: Japan's Policy Gamble
Apr 13 04:00 GMT, by Wells Fargo Securities
This report focuses on Japan and considers the domestic implications of the bold fiscal and monetar...
A Bird's Eye View of the Global Economy
Mar 19 16:25 GMT, by TD Bank Financial Group
The global economy grew by an estimated 2.9% in 2012. The euro zone double dip recession, a softer ...
FX Top Trades 2013: How to Position for the Coming Year
Dec 05 14:55 GMT, by Danske Bank
For the fourth time, we present our year-end FX Top Trades for the coming year. In the years 2010-2...
Implications for UK & Canada from the Appointment of Mark Carney as BoE Governor
Nov 27 11:51 GMT, by TD Bank Financial Group
Chancellor Osborne announced today that Mark Carney, currently the Governor of the Bank of Canada, ...
All Long Term Forecasts >>
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