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Jul 29 08:40 GMT

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Daily Report: Quiet Consolidation Continues, Yen Steady as after Weak Data
Jul 29 03:33 GMT, by ActionForex.com
The markets remained rather dull so far this week. DOW ended 22.02 pts higher at 16892.59 after initial dip to 16877.72. Asian equities are mildly higher with Nikkei up 60 pts while HK HSI is up 50 pts at the time of writing. The dollar index continues to struggle in tight range around 81 handle as the forex markets are generally stuck in tight ra...

Technical Outlook

AUD/USD Daily Outlook
AUD/USD's consolidation pattern from 0.9504 continued is still in progress and intraday bias remains neutral. More corr... - Jul 29 04:07 GMT
USD/CAD Daily Outlook
Intraday bias in USD/CAD remains on the upside for the moment. Current development suggests that correction from 1.1278... - Jul 29 04:05 GMT
EUR/USD Daily Outlook
With 1.3486 minor resistance intact, deeper fall is expected in EUR/USD. Medium term trend could have reversed and thei... - Jul 29 04:02 GMT
GBP/USD Daily Outlook
Focus remains on 1.6952 support in GBP/USD. Decisive break there will argue that 1.7190 was already the medium term top... - Jul 29 03:59 GMT

Special Reports

Upbeat Chinese PMI Reflects Feed-Through Of Stimulus, More In 2H14
Jul 25 02:42 GMT
Chinese economic growth has shown signs of gathering momentum again, thanks to ...
RBNZ Announced Last Rate Hike Before Pause To Assess Impacts
Jul 24 06:01 GMT
The RBNZ raised the OCR for a 4th consecutive time, by +25 bps to 3.5%, in July...
BOE Minutes Toned Down Rate Hike Speculations
Jul 23 10:13 GMT
Despite rising growth momentum, BOE policymakers remained divided on whether wh...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea : USD/CHF - Buy at 0.8980
As the greenback has maintained a firm undertone after last week's rally above indicated previous resistance at 0.9037, adding cr... - Jul 29 08:05 GMT
Trade Idea: GBP/USD - Sell at 1.7050
Cable's near term sideways trading is expected to continue and although corrective bounce to 1.7000 cannot be ruled out, reckon 1... - Jul 29 08:00 GMT
Trade Idea: EUR/USD - Buy at 1.3400
As the single currency has remained under pressure, retaining our view that near term downside risk remains for recent decline fr... - Jul 29 07:57 GMT
Trade Idea: USD/JPY - Hold short entered at 101.70
Although dollar has risen again after brief pullback yesterday, reckon 102.00-05 would limit upside and bring retreat later, belo... - Jul 29 07:50 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

GBP/USD Candlesticks and Ichimoku Analysis
The British pound met renewed selling interest just below the Tenkan-Sen (... - Jul 29 08:10 GMT
USD/CHF Candlesticks and Ichimoku Analysis
The greenback finally broke above previous resistance at 0.9037, justifyin... - Jul 29 08:08 GMT
EUR/USD Candlesticks and Ichimoku Analysis
The single currency continued to head south in line with our bearish expec... - Jul 28 07:21 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY - Hold long entered at 136.70
Euro's near term sideways trading is expected to continue and although price retreated from 137.25, as long as last week's low at... - Jul 29 08:29 GMT
Trade Idea: AUD/USD - Stand aside
Although the Australian dollar has retreated after last week's stronger-than-expected rebound to 0.9472 and consolidation with mi... - Jul 29 08:23 GMT
Trade Idea: EUR/GBP - Buy at 0.7855
Lack of follow through buying last week's breach of resistance at 0.7933 and the subsequent retreat from 0.7940 suggest near term... - Jul 28 14:41 GMT
Trade Idea: USD/CAD - Buy at 1.0770
The greenback has rallied on Friday and broke above previous resistance at 1.0794, adding credence to our view that low has been ... - Jul 28 14:34 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Although the British pound has retreated after rising to 1.7192 earli... - Jul 29 08:38 GMT
USD/JPY Elliott Wave Analysis
Dollar's rebound after holding above support at 101.07 has retained o... - Jul 28 09:50 GMT
EUR/USD Elliott Wave Analysis
The single currency dropped again after meeting renewed selling inter... - Jul 28 09:42 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: Jul 29 08:35 GMT

Action Bias

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

Fundamental Analysis Reports

Daily FX Analysis
Jul 29 08:24 GMT, by Investica
The Euro managed to find some support above the 1.3420 level with the 200-week moving average providing some additional backing for now even though underlying sentiment remained negative. Markets wer...
Dollar Strength Ahead of Tomorrow's FOMC Statement
Jul 29 08:23 GMT, by Easy Forex
The euro (EUR) remains range bounded near its lowest point in the last 8-months against the US dollar (USD) at 1.3437. The single currency remains under pressure despite the bad data from the monthly...
Kiwi Becoming Lactose Intolerant
Jul 29 08:06 GMT, by Blackwell Global
The kiwi dollar has taken a beating in the last few weeks. There are good reasons for this, with dairy products at the top of the list, and now it looks like it has one more level to test before a br...
Dax Touches Key Area
Jul 29 08:02 GMT, by Blackwell Global
The DAX index is generally a good representation of the economy and has as of late been struggling to break through key resistance on the daily chart. After looking for it to fall further in recent a...
ECB Efforts Full Of Hot Air
Jul 29 07:49 GMT, by Dukascopy Swiss FX Group
This week European Central Bank's patience will be tested once again, as key inflation data for July are on the radar. While policy makers may feel there is a room for complacency at least for this s...
FOMC To Hold Course With More Tapering
Jul 29 07:44 GMT, by Dukascopy Swiss FX Group
Economists from the ING believe the world's largest economy has bounced back in the second quarter following a dismal start to the year. While growth is expected to reach around 3.0% in the three mon...
All Daily Fundamental Reports >>

Technical Analysis Reports

Foreign Exchange Market Commentary
Jul 29 07:56 GMT, by HY Markets
THE EURO closed lower on Friday as it extends the decline off this month's high. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastic...
Cable Below 1.7, Consumer Credit Ahead
Jul 29 07:31 GMT, by ZIFX.com
On Monday Pound/Dollar increased insignificantly with 30 pips. The Cable appreciated from 1.6971 to 1.7001 yesterday, in converse with the negative money flow sentiment at around -11%, closing the da...
Daily FX Report
Jul 29 07:11 GMT, by Varengold Bank
The U.S. economy failed to rebound as much as investors forecast in the second quarter but the USD increased the most in two weeks against the EUR to $1.3440 yesterday, dropping the most on a closing...
EURAUD's Sell-Off Approaches A Critical Juncture
Jul 29 04:39 GMT, by Forex.com
EURAUD has broken through a key long-term trend line. The move came after a sustained negative divergence between price action and RSI on a weekly chart. Yet, is the sell-off over? On very long-term ...
Euro Remains Weak Ahead Of Fed Rates
Jul 29 04:37 GMT, by ZIFX.com
On Monday Euro/Dollar traded within narrow almost 20 pip range. The European currency appreciated from 1.3426 to 1.3444 yesterday, not matching the negative money flow sentiment at nearly -7%, closin...
The Daily Wave Analysis
Jul 29 04:17 GMT, by Admiral Markets
A break below 1.3425 would break the 138.2% Fibonacci level of wave X (vs wave W) and the alternative count would most likely be a wave 3 (both blue). Price is moving down in a well balanced down tre...
All Daily Technical Reports >>

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Long Term Forecasts

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...
USD/CAD - 2013 In Review
Jan 02 02:23 GMT, by MarketPulse
The Canadian dollar looked sharp as we began 2013, but struggled badly late in the year, as the cur...
USD/JPY - 2013 In Review
Dec 26 02:31 GMT, by MarketPulse
The Bank of Japan continued its radical monetary program in 2013, and the yen responded with sharp ...
All Long Term Forecasts >>
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