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May 28 07:54 GMT

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Daily Report: Dollar Firm With USD/JPY Breaks 7 Year High
May 28 02:49 GMT, by ActionForex.com
US equities staged a strong rebound overnight, in particular, with NASDAQ closing at new record high of 5106.56, up 73.84 pts, or 1.47%. DJIA also closed up 121.45 pts, or 0.67% at 18162.99 after drawing strong support from 55 days EMA. Similar picture was seen in S&P 500 which closed at 2123.48, up 19.28 pts or 0.92%. There were talks that th...

Technical Outlook

GBP/JPY Daily Outlook
GBP/JPY's rally resumes after brief consolidation and intraday bias is back on the upside. Current up trend should now ... - May 28 03:34 GMT
EUR/JPY Daily Outlook
The rebound from 133.09 extends higher today and break of 135.34 minor resistance suggests that pull back from 136.95 i... - May 28 03:31 GMT
EUR/GBP Daily Outlook
EUR/GBP lost some downside momentum but with 0.7162 minor resistance intact, deeper decline is still expected to 0.7013... - May 28 03:25 GMT
EUR/AUD Daily Outlook
Intraday bias in EUR/AUD remains neutral for the moment. We're still preferring the case that fall from 1.5331 has comp... - May 28 03:24 GMT

Special Reports

BOC Indicates Canada's Economy Hinges On US' Growth
May 28 06:34 GMT
The BOC meeting in May delivered little surprise as it was widely anticipated t...
BOJ Expects Inflation To Achieve Target Later Than Expected. Yen Slumped
May 27 06:26 GMT
Japanese yen slumped as BOJ minutes unveiled that Japan’s inflation would reach...
Fed Unveiled Rate Hike In June Unlikely
May 21 03:42 GMT
The FOMC minutes for the April meeting contained little news. Yet, the indicati...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea: USD/JPY - Buy at 122.90
The greenback has retreated after intra-day brief rise to 124.30 and consolidation below this level is in store and pullback to 1... - May 28 07:45 GMT
Trade Idea Wrap-up: USD/CHF - Buy at 0.9425
As the greenback has risen again after intra-day brief retreat, suggesting recent rise from 0.9072 is still in progress and may e... - May 27 15:56 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
The British pound resumed recent decline after meeting renewed selling interest at 1.5437, suggesting near term downside risk rem... - May 27 15:53 GMT
Trade Idea Wrap-up: EUR/USD - Sell at 1.0980
As the single currency has recovered after intra-day fall to 1.0819, suggesting consolidation above this level would be seen and ... - May 27 15:47 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/USD Candlesticks and Ichimoku Analysis
Aussie's sharp retreat from 0.8163 (this month's high) adds credence to ou... - May 27 09:21 GMT
NZD/USD Candlesticks and Ichimoku Analysis
Kiwi has fallen again after meeting renewed selling interest at 0.7564 ear... - May 27 08:50 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Although cable rebounded initially last week to 1.5700 (we recommended to ... - May 26 08:57 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.7165
Outlook remains bearish for recent decline from 0.7483 to extend further weakness, bring retest of 0.7014 (wave iii trough), brea... - May 27 15:00 GMT
Trade Idea: USD/CAD - Buy at 1.2360
As the greenback has continued to move higher, adding credence to our bullish view low has been formed at 1.1920 (as wave c and p... - May 27 14:50 GMT
Trade Idea: EUR/JPY - Buy at 134.25
The single currency has rebounded again after brief retreat to 133.67 (missed our long entry at 133.50) and this move adds creden... - May 27 10:23 GMT
Trade Idea: AUD/USD - Hold long entered at 0.7730
Although aussie has remained under pressure and marginal weakness from here cannot be ruled out, oversold condition suggests curr... - May 27 10:05 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Aussie continued to fall after retreating sharply from 0.8163 (this m... - May 27 11:05 GMT
EUR/CHF Elliott Wave Analysis
The single currency slipped again this week and near term downside ri... - May 27 10:55 GMT
GBP/USD Elliott Wave Analysis
Although the British pound rebounded initially last week (we recommen... - May 26 09:48 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 28 07:45 GMT

Action Bias

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

Fundamental Analysis Reports

Bearish Momentum In The Pound/Dollar Continues
May 28 07:37 GMT, by ForexTime
The recent close below 1.55 was a critical blow for the Pound/Dollar bulls, and the bears have continued to exploit each opportunity to increase selling pressure with the pair still looking technical...
Chinese Shares Tumble, Greek Hopes
May 28 07:34 GMT, by Swissquote Bank SA
Chinese equities tumble after margin lending tighten at brokerages. The Shanghai Composite retreated -3.78% while Hong Kong’s Hang Seng lost -2.10%. In Shanghai, the main gauge is up more than 50% si...
EUR/USD Decline Halted After 'Positive' Rumours On Greece
May 28 07:30 GMT, by KBC Bank
Yesterday, USD strength initially prevailed with the dollar gaining ground against the euro and the yen. However, positive headlines from Greek officials changed fortunes for the euro, even as not al...
Japan's Retail Sales Soar 5% From 2014, But Rises Less Than Expected From March
May 28 06:45 GMT, by Dukascopy Swiss FX Group
Japan's retail sales rose less than expected in April compared with the previous year, suggesting a weak start to the second quarter for an economy that is struggling with a devastating effect of las...
Bleak Capex Data May Prompt RBA To Step Up Stimulus Again
May 28 06:44 GMT, by Dukascopy Swiss FX Group
Dismal capex data raised concerns that Australia's transition from a mining-led economy offers nothing but hard landing, spurring bets the Reserve Bank of Australia may cut its official interest rate...
Bank Of Canada Keeps Rate Unchanged At 0.75%
May 28 06:39 GMT, by Dukascopy Swiss FX Group
The Bank of Canada maintained its target for the overnight rate at 0.75% for a third consecutive meeting, underscoring that growth and inflation are in line with expectations. Most economists now exp...
All Daily Fundamental Reports >>

Technical Analysis Reports

USDCHF Could Move Higher After Finding Support Near 0.9400
May 28 07:39 GMT, by Elliott Wave Financial Service
USDCHF broke higher, above the former swing high so we adjusted the wave count as current rally can be wave wave three of three headed towards 0.9600 but ideally up to 0.9800. If we are correct then ...
Today's Market Outlook
May 28 06:25 GMT, by Windsor Brokers Ltd
Euro extended losses further yesterday and posted fresh low at 1.0818, but dips were short-lived. Subsequent bounce returned to magnetic 1.09 zone, but daily action remained capped by 55SMA at 1.0928...
BRENT Accelerating To The Downside
May 28 06:12 GMT, by ThinkForex
The strength of the US has continued to weigh down on commodities, seeing Brent accelerate the downside with no immediate signs of a bottom pattern forming yet. Sitting below the Daily Pivot and form...
Daily FX Report
May 28 06:04 GMT, by Varengold Bank
The dollar hovered at eight-year highs against the yen early on Thursday, having stopped short of breaking above its 2007 peak as it consolidated recent gains against the euro and other peers. The US...
Foreign Exchange Market Commentary
May 28 03:53 GMT, by HY Markets
THE EURO closed slightly higher on Wednesday as it consolidates some of the decline off May's high. The midrange close sets the stage for a steady to higher opening when Thursday's night session begi...
Daily Technical Analysis
May 28 03:44 GMT, by FX Instructor
The EURUSD was indecisive yesterday. Price attempted to push lower slipped below 1.0850 but closed higher at 1.0901. The bias is neutral in nearest term but overall I remain bearish with nearest targ...
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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