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Mar 05 16:03 GMT

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Mid-Day Report: Euro Extends Down Trend after Knee Jerk Reactions to ECB Draghi
Mar 05 14:24 GMT, by ActionForex.com
ECB left policies unchanged as widely expected. Euro was originally lifted by the positive projections. However, the common currency quickly reversed as Draghi said that bond yields could fall to ECB's deposit rate, which is -0.2%. ECB president Draghi said that the central bank will start purchasing government bonds on March as part of the EUR 1....

Technical Outlook

EUR/USD Mid-Day Outlook
EUR/USD's down trend continues after brief recovery and reaches as low as 1.1006 so far. Intraday bias remains on the d... - Mar 05 14:53 GMT
EUR/JPY Mid-Day Outlook
Intraday bias in EUR/JPY remains on the downside for the moment. Corrective rise from 130.13 should have already comple... - Mar 05 14:35 GMT
GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains on the downside for the moment. As noted before, corrective rebound from 1.4950 has co... - Mar 05 14:33 GMT
USD/JPY Mid-Day Outlook
USD/JPY rises mildly today but is still staying below 120.46 resistance. Intraday bias remains neutral first. Overall, ... - Mar 05 14:29 GMT

Special Reports

BoC Left Rate Unchanged, Stance More Neutral
Mar 05 02:32 GMT
As expected, the BOC left the monetary policy unchanged in March, following a s...
China Watch: Flash PMI Signaled Manufacturing Activities Expanded. Deflation Risks Heightened, An Official Warned
Feb 25 10:36 GMT
China's flash manufacturing PMI by HSBC surprisingly drifted back to above 50, ...
Upbeat Yellen Signaled Fed's On Course For Hike Later This Year
Feb 25 06:29 GMT
Fed Chair Janet Yellen in the congressional testimony reiterated the message th...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.9595
As the greenback has risen again after intra-day brief retreat to 0.9650, adding credence to our view that recent upmove is still... - Mar 05 15:39 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
As cable has remained under pressure after yesterday's selloff below indicated level at 1.5333-37 (previous support and 38.2% Fib... - Mar 05 15:36 GMT
Trade Idea Wrap-up: EUR/USD - Stand aside
Despite intra-day brief bounce to 1.1115, as the single currency has fallen again in part due to the dovish remarks from Draghi, ... - Mar 05 15:33 GMT
Trade Idea Wrap-up: USD/JPY - Stand aside
Although intra-day break of this week's high of 120.27 signals near term upside risk remains for further gain to previous chart r... - Mar 05 15:29 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/GBP Candlesticks and Ichimoku Analysis
As the single currency has fallen again after brief recovery, adding crede... - Mar 05 08:53 GMT
EUR/CHF Candlesticks and Ichimoku Analysis
Although the single currency has retreated after faltering below resistanc... - Mar 05 08:37 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Although aussie retreated after meeting resistance at 0.7913, as price has... - Mar 04 08:59 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Stand aside
The single currency fell again today and has remained under pressure, suggesting near term downside risk remains for recent decli... - Mar 05 15:20 GMT
Trade Idea: USD/CAD - Stand aside
As the greenback slipped again today, dampening our bullishness and further consolidation would be seen, however, still reckon do... - Mar 05 15:15 GMT
Trade Idea: EUR/JPY - Sell at 133.20
This week's selloff from 134.60 adds credence to our view that the fall from 136.69 is still in progress and further weakness to ... - Mar 05 09:53 GMT
Trade Idea: AUD/USD - Hold long entered at 0.7800
Aussie's rebound after finding good support at 0.7752 earlier this week has retained our bullishness and as long as this level ho... - Mar 05 09:35 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
As the single currency has remained under pressure, adding credence t... - Mar 05 10:17 GMT
USD/CAD Elliott Wave Analysis
As the greenback has retreated after meeting resistance at 1.2565 ear... - Mar 05 10:11 GMT
AUD/USD Elliott Wave Analysis
Although aussie retreated after early rebound to 0.7913, as long as i... - Mar 04 10:00 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: Mar 05 15:55 GMT

Action Bias

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

Draghi Optimism Fails to Prevent Euro Decline
Mar 05 15:34 GMT, by MarketPulse
Once again, despite offering very little new or unexpected information, ECB President Mario Draghi managed to bring plenty of volatility back to the markets. In the run up to the press conference, th...
US Initial Jobless Claims Unexpectedly Increased in the Week Ending February 28
Mar 05 14:15 GMT, by RBC Financial Group
US initial claims rose by 7,000 to 320,000 in the week ending February 28, 2015, thereby building on an unexpectedly large 31,000 increase to 313,000 (unrevised) in the previous week. The increase in...
Bank of England Maintains Bank Rate at 0.50% - We Still Look for the First Hike in Q3 15
Mar 05 13:58 GMT, by Danske Bank
As expected, the Monetary Policy Committee (MPC) just announced that it voted to maintain the Bank Rate and the stock of asset purchases at 0.50% and GBP375bn, respectively. There was no statement...
Will Super Mario Stand and Deliver on QE?
Mar 05 12:11 GMT, by MarketPulse
Markets are waiting to scrutinize Mario Draghi's every word in a couple of hours. Investors and dealers want to know if he will say anything to change everyone's assessment of the quantitative easing...
Euro Selling Gathers Momentum ahead of ECB
Mar 05 12:08 GMT, by MarketPulse
It's already been a busy week in the markets with plenty of high quality economic data being released, a rate cut from the People's Bank of China and an attempt by the Saudi's to hike oil prices. And...
Could Central Banks Begin To Purchase The Euro‏
Mar 05 10:56 GMT, by ForexTime
Aside from the euro continuing to receive aggressive punishment ahead of the ECB interest rate decision and President Mario Draghi unveiling further details regarding the imminent QE program, the oth...
All Daily Fundamental Reports >>

Technical Analysis Reports

NZDUSD: Did the RBNZ Just Cap the Kiwi?
Mar 05 13:54 GMT, by Forex.com
Despite the broad-based strength in the US Dollar, the New Zealand dollar has managed to hold its own against the world's reserve currency over the last few weeks. Unfortunately for kiwi bulls, that ...
EUR/USD Drops Down To 1.1035 Before ECB Meeting
Mar 05 09:57 GMT, by Dukascopy Swiss FX Group
After a considerable drop yesterday, EUR/USD continues declining on Thursday morning as well. On Wednesday it lost more than 100 pips and is getting additional 40-pip hit today. The Euro has already ...
GBP/USD Keeps Plunging
Mar 05 09:55 GMT, by Dukascopy Swiss FX Group
As the UK Services PMI was worse than expected, and later through the day the US data showed strong figures, the Pound came under strong selling pressure, and the currency depreciated dramatically. G...
USD/JPY: Correction To Take Place
Mar 05 09:54 GMT, by Dukascopy Swiss FX Group
On Wednesday the USD/JPY pair continued to trade between the weekly PP an R1 levels. The Greenback experienced a minor eight-pip slump, before the currency settled at 119.64. Although technical studi...
XAU/USD Remains Calm Around 1,200
Mar 05 09:51 GMT, by Dukascopy Swiss FX Group
XAU/USD cross showed no significant changes in course of the previous trading day as it remained hovering just around the major level of 1,200. The closest resistance and support are located at 1,207...
Today's Market Outlook
Mar 05 09:30 GMT, by Windsor Brokers Ltd
The Euro holds firm bearish tone and heads towards psychological 1.10 support, ahead of today’s ECB meeting. Yesterday’s close in long red candle and eventual completion of 1.1096/1.1532 corrective p...
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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