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Jul 31 11:21 GMT

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Daily Report: Yen Mildly Higher after Batch of Weak Data
Jul 31 04:05 GMT, by ActionForex.com
Asian markets are stuck in tight range after US stocks closed nearly flat overnight. Yen is mildly higher after a batch of weak data from Japan. National CPI rose slightly by 0.1% yoy in June versus expectation of 0.0%. But Tokyo CPI dropped -0.1% yoy in July versus expectation of 0.0% yoy. Recently, BoJ stayed optimistic that inflation will pick ...

Technical Outlook

AUD/USD Daily Outlook
No change in AUD/USD's outlook. With 0.7448 minor resistance intact, deeper fall is still expected to long term retrace... - Jul 31 09:30 GMT
USD/CAD Daily Outlook
Intraday bias in USD/CAD is turned neutral for the moment. the consolidation from 1.3102 might extend and another fall ... - Jul 31 09:28 GMT
EUR/USD Daily Outlook
Intraday bias remains neutral for the moment. As noted before, the corrective structure of current decline argues that ... - Jul 31 04:17 GMT
GBP/USD Daily Outlook
Intraday bias in GBP/USD remains neutral for the moment. Another rise is mildly in favor 1.5465 minor support holds. Ab... - Jul 31 04:15 GMT

Special Reports

FOMC Adjusted Economic Assessment, September Rate Hike Remains Open
Jul 30 06:08 GMT
In its July statement, the FOMC made some changes on its assessment of the curr...
China Might Soon Widen Renminbi Further to Get Included in IMF's SDR
Jul 29 06:56 GMT
Chinese State Council released a statement titled 'Key steps to promote foreign...
Watch For Forward Guidance In July FOMC Statement
Jul 27 17:26 GMT
The upcoming FOMC meeting in July would be in focus, as the market watches clos...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.9665
Dollar's firmness after breaking above previous resistance at 0.9674 adds credence to our view that recent erratic rise from 0.90... - Jul 30 15:47 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
As the British pound has retreated again after meeting resistance at 1.5644 in NY morning, below 1.5588 would bring weakness to 1... - Jul 30 15:43 GMT
Trade Idea Wrap-up: EUR/USD - Sell at 1.0985
Euro's intra-day breach of previous support at  1.0925 signals rebound from 1.0809 has ended at 1.1130 and mild downside bias rem... - Jul 30 15:37 GMT
Trade Idea Wrap-up: USD/JPY - Stand aside
Despite intra-day breach of previous resistance at 124.48, lack of follow through buying and current retreat from 124.58 suggest ... - Jul 30 15:35 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
Although aussie dropped quite sharply last week, break of recent low 89.20... - Jul 30 07:57 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Although aussie has remained under pressure, as recent decline is losing n... - Jul 30 07:11 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Although the British pound retreated after rising to 1.5667 earlier, as re... - Jul 28 09:12 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Stand aside
The single currency continued to trade lower after retreating from 0.7161 (this week's high), dampening our near term bullishness... - Jul 30 15:03 GMT
Trade Idea: USD/CAD - Hold long entered at 1.2900
The greenback found renewed buying interest at 1.2862 yesterday and has staged a rebound, retaining our bullishness and above 1.3... - Jul 30 14:52 GMT
Trade Idea: EUR/JPY - Hold long entered at 136.25
Although the single currency has retreated after rising to 137.11 earlier this week, as long as 135.75-80 holds, mild upside bias... - Jul 30 08:26 GMT
Trade Idea: AUD/USD - Hold long entered at 0.7285
Although aussie has retreated again after faltering below resistance at 0.7351, as long as this week's low at 0.7257 holds, conso... - Jul 30 08:15 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
As the single currency has retreated again after meeting resistance a... - Jul 30 10:05 GMT
USD/CAD Elliott Wave Analysis
The greenback found renewed buying interest at 1.2656 and has surged ... - Jul 30 09:44 GMT
GBP/USD Elliott Wave Analysis
Cable's rebound after finding support at 1.5330 suggests near term up... - Jul 28 10:09 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: Jul 31 11:15 GMT

Action Bias

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

Fundamental Analysis Reports

Russia Central Bank To Ease, Risk Of AUD Downside
Jul 31 10:26 GMT, by Swissquote Bank SA
'Today the Bank of Russia is releasing its key rate which is currently at 11.50%. Earlier this week, the central bank has announced that it stopped purchasing U.S. dollars for the account of its fore...
Gold Set For Its Sixth Straight Weekly Decline
Jul 31 10:09 GMT, by ICN.com
Precious-Gold set for its sixth straight weekly decline, where it dropped near its lowest level in five and a half years on Friday, as the acceleration in U.S. second-quarter growth enhanced expectat...
European Market Update: Euro Zone Core Inflation Backing ECB View On Positive QE Impact Since Its Launch, Italy Unemployment Data Jumps Higher
Jul 31 09:52 GMT, by Trade The News
Analyst noted that EUR/USD breaking below the 1.0930 level had weakened the technical picture, suggesting more short-term EUR weakness. An unexpected dip in German retail sales data eroded the slight...
Dollar Stays Well Bid, Even After Modest US Q2 GDP
Jul 31 07:40 GMT, by KBC Bank
Yesterday, the dollar extended the post-Fed gains. US Q2 GDP was mixed, but strong enough to keep rate hike expectations alive. Sterling was well bid too and EUR/GBP revisited the 0.70 barrier. Today...
Summer Calm In Stocks & Fx
Jul 31 07:25 GMT, by Swissquote Bank SA
FX markets were quiet, shifting into summer trading patterns. USD was marginally weaker against G10 and EM currencies as US rates were unchanged at 2.264%. EURUSD traded from 1.0929 to 1.0949 in cont...
New Zealand Business Confidence Declines To 6-Year Low In July
Jul 31 07:01 GMT, by Dukascopy Swiss FX Group
Morale among New Zealand businesses unexpectedly dropped to the lowest level in six years in July, with agriculture being the most downbeat sector. The July release of ANZ Business Outlook revealed t...
All Daily Fundamental Reports >>

Technical Analysis Reports

USDJPY Strength Even After Bad Advance GDP Data
Jul 31 09:11 GMT, by Admiral Markets
USDJPY has bounced after FED statement which clearly stated that the rate hike is inevitable after further job gains. We think it could come in September or December, but December seems more likely. ...
EUR/USD Takes A Break At 1.0930
Jul 31 08:58 GMT, by Dukascopy Swiss FX Group
Bears failed to push though the weekly PP yesterday, but this does not change the bearish outlook on the Euro. The ceiling is still at 1.11, while the July low at 1.0810 is the target, meaning any ra...
GBP/USD Hovers Above 1.56
Jul 31 08:55 GMT, by Dukascopy Swiss FX Group
The GBP/USD currency pair experienced some volatility yesterday, amid mixed US fundamental data. As a result, the Cable remained relatively unchanged, as the Sterling added only four pips against the...
USD/JPY Attempts To Preserve The Bullish Trend
Jul 31 08:54 GMT, by Dukascopy Swiss FX Group
The US Dollar reached a daily high of 124.60 against the Yen yesterday, but was instantly pushed back down, where it stabilised at 124.07. Although the gains were not as large as anticipated, the 124...
XAU/USD Gains Bearish Momentum
Jul 31 08:52 GMT, by Dukascopy Swiss FX Group
XAU/USD is under heavy selling pressure at the moment, which should be enough to take the price down to the 2010 low eventually. Once the July 20 and 24 lows are surpassed, there will be no significa...
Forex Technical Analysis
Jul 31 08:02 GMT, by DeltaStock Inc.
EUR/USD The rebound above 1.0892 low is corrective, preceding a slide towards 1.0870. Only a break through 1.1015 resistance area will signal a major reversal of the whole slide from 1.1126 and will ...
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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