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May 23 10:04 GMT

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European Session: Orders and Options Watch
May 23 08:28 GMT, by ActionForex.com
JPY: Dollar reversed yesterday's rise on massive risk aversion due to selloff in equities, bids at 102.65-70, 102.25-35 were filled and stops below 102.00,101.80 and even 101.50 were triggered. At the moment, sell orders are lined up at 102.00-10, 102.40-60 region and also at 102.75, more sell orders are tipped further out at 103.00 and in very go...

Technical Outlook

GBP/USD Daily 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 07:49 GMT
USD/CHF Daily Outlook
USD/CHF jumped to as high as 0.9838 but retreats sharply from there. Though, as long as 0.9578 support holds, further r... - May 23 07:46 GMT
USD/JPY Daily Outlook
USD/JPY reversed from 103.73 and drops sharply today. Intraday bias is turned neutral first for some consolidations. As... - May 23 07:42 GMT
USD/CAD Daily Outlook
USD/CAD's rally resumed after brief consolidation and reaches as high as 1.0392 so far today. The break of 1.0341 resis... - May 23 05:23 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: USD/CHF - Turn short at 0.9770
Despite yesterday's anticipated resumption of recent upmove to 0.9839 (exactly as indicated - 61.8% projection of 0.9331-0.9748 m... - May 23 07:32 GMT
Trade Idea: GBP/USD - Sell at 1.5150
The British pound extended recent decline after brief bounce to 1.5158 yesterday, however, loss of momentum suggests downside is ... - May 23 07:25 GMT
Trade Idea: EUR/USD - Sell at 1.2930
Despite yesterday's initial rally to 1.2998, the subsequent reversal from there suggests top has been formed there and the correc... - May 23 07:19 GMT
Trade Idea: USD/JPY - Sell at 102.60
Despite yesterday's resumption of upmove to 103.74, the subsequent sharp retreat together with the break of previous support at 1... - May 23 07:13 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

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
AUD/USD Candlesticks and Ichimoku Analysis
Aussie extended recent decline to as low as 0.9711 last week, exceeded our... - May 22 09:30 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

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
Trade Idea: EUR/GBP - Stand aside
Although intra-day rally to 0.8590 suggests low has possibly been formed at 0.8398 earlier and consolidation with upside bias rem... - May 22 15:07 GMT
Trade Idea: USD/CAD - Hold long entered at 1.0260
Despite intra-day brief retreat to 1.0251 (we recommended to buy at 1.0260 yesterday), as the greenback found renewed buying inte... - May 22 15:02 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Aussie has fallen again after brief recovery, the strength of recent ... - May 22 10:53 GMT
EUR/CHF Elliott Wave Analysis
Current break of previous resistance at 1.2573 confirms our bullish v... - May 22 10:45 GMT
GBP/USD Elliott Wave Analysis
The British pound only recovered to 1.5323 (we recommended to sell at... - May 21 11:01 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 23 10:55 GMT

Action Bias

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

Fundamental Analysis Reports

European Market Update
May 23 09:58 GMT, by Trade The News
Risk aversion theme dominated the Asian session but sentiment calmed down a bit after major European PMI manufacturing data beat expectations The USD initially firmed up against the European currenci...
EU Leaders Intensify Efforts To Tackle Tax Evasion
May 23 08:37 GMT, by ICN.com
The EU leaders continue to push through to tackle major issues in the region that suffers still from anemic growth and uncertain outlook as the euro area debt crisis takes a toll on the region’s enti...
PMI Suggests Ongoing Recession In Euro Area, Though Contraction Slows In May
May 23 08:36 GMT, by ICN.com
The Euro area's recession have likely dragged on into a seven consecutive quarter in the second quarter of 2013, though the rate of contraction eased for the second straight month, according to Marki...
Dollar Gains As Bernanke Leaves Markets In Doubt On The Exit
May 23 08:30 GMT, by KBC Bank
EUR/USD and other major currency cross rates had a rollercoaster ride over the last 24 hours. Soft comments from Bernanke hit the dollar first, but the US currency did fight back as the Fed president...
Morning Forex Fundamental
May 23 08:24 GMT, by Dukascopy Swiss FX Group
The 17-nation economy's current account surplus surged to the all-time high in March, due in part to the increase in exports, the European Central Bank data showed Wednesday. A broad measure of an ec...
Growth Fears, US Stimulus Concerns Drive European Stocks Lower
May 23 08:22 GMT, by ICN.com
European shares kick started the session in red on Thursday session with a poor factory activity survey from China along with concerns the U.S. Federal Reserve may end its asset-purchasing program so...
All Daily Fundamental Reports >>

Technical Analysis Reports

USD/JPY Collapses To Two Week's Low
May 23 09:53 GMT, by ZIFX.com
On Wednesday Dollar/Yen traded within 140 pip range. The currency couple appreciated from 102.34 to 103.74 yesterday, matching the positive money flow sentiment at over +22%, closing the day at 103.1...
USDJPY: Dragged Lower By Nikkei
May 23 09:17 GMT, by Forex.com
It's been a volatile 24 hours for USDJPY, which has traded in a 200 pip range, after trading in a 100 pip range for most of the last week. After rallying on the back of the Bernanke testimony on Wedn...
Morning Forex Technical
May 23 09:03 GMT, by Dukascopy Swiss FX Group
The latest recovery did not last for long, as it was discontinued at a resistance area 1.2986/74, which is formed by the 20 and 55-day SMAs and weekly R1 level. However, bears are likely to be hesita...
Technical Analysis for Major Currencies
May 23 08:40 GMT, by ICN.com
The pair rebounded to the upside yesterday and stabilized below the upside key support again confirming that the downside move is ongoing. Further bullishness is expected today to touch the previous ...
GBP/USD Tumbles Down Towards 1.5
May 23 07:50 GMT, by ZIFX.com
On Wednesday Pound/Dollar continued decreasing significantly with 150 pips. The Cable depreciated from 1.5175 to 1.5026 yesterday, in line with the negative money flow sentiment at almost -26%, closi...
Technical Analysis for Crosses
May 23 06:58 GMT, by ICN.com
Our concerns were right, indeed price failed to maintain the bullish wave, moving sharply lower below the 154.70 horizontal support level, confirming a possible medium term top below 156.75. We look ...
All Daily Technical Reports >>

Analysis Report Search

Central Bank Analysis
Economic Data Reviews
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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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