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May 05 18:22 GMT

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Mid-Day Report: Dollar Ignores ISM Services, Euro Lifted by Upgraded Projections
May 05 14:25 GMT, by ActionForex.com
Dollar weakens again today in spite of positive services data. The ISM non-manufacturing composite rose to 57.8 in April, better than expectation of a fall to 56.2. New orders rose from 57.8 to 59.2. Employment component also rose slightly to 56.7. Nonetheless, trade deficit jumped to USD 51.4b in March, hitting that widest level since 1996. Some ...

Technical Outlook

EUR/USD Mid-Day Outlook
Intraday bias in EUR/USD remains neutral for the moment. Overall, price actions form 1.0461 are treated as a consolidat... - May 05 13:55 GMT
GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains mildly on the downside for the moment. As noted before, rebound from 1.4565 should hav... - May 05 13:54 GMT
USD/CHF Mid-Day Outlook
Intraday bias in USD/CHF remains neutral for consolidations above 0.9277 temporary low. We'd expect another decline as ... - May 05 13:52 GMT
USD/JPY Mid-Day Outlook
Overall, USD/JPY could still be in consolidation pattern from 121.84 and another decline might be seen. Below 118.32 wi... - May 05 13:51 GMT

Special Reports

RBA Cut Rate To 2%, Fuelling Of Housing Prices Inevitable
May 05 07:45 GMT
RBA cut the cash rate by -25 bps to 2% in May, after pausing over the past 2 mo...
RBA To Cut In May
May 04 02:30 GMT
Following the previous cut in February, we expect the RBA would trim the cash r...
RBNZ Signaled Easing Bias
Apr 30 03:49 GMT
Kiwi plunged, erasing the gains made over the past 2 days after release of RBNZ...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Stand aside
Although current break of previous support at 0.9277 (last week's low) signals recent decline from 1.0129 top has resumed and bea... - May 05 15:21 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
As the British pound has rebounded after intra-day marginal fall to 1.5089, suggesting consolidation above this level would be se... - May 05 15:17 GMT
Trade Idea Wrap-up: EUR/USD - Buy at 1.1135
Despite intra-day fall to 1.1066, the subsequent rebound suggests an intra-day low has possibly been formed there and consolidati... - May 05 15:14 GMT
Trade Idea Wrap-up: USD/JPY - Hold short entered at 120.35
As the greenback has retreated after intra-day brief rise to 120.51, suggesting consolidation below this level would be seen with... - May 05 15:09 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

GBP/USD Candlesticks and Ichimoku Analysis
Despite last week's rise to 1.5498, the subsequent selloff suggests first ... - May 05 08:48 GMT
USD/CHF Candlesticks and Ichimoku Analysis
The greenback did break below previous support at 0.9481 last week and fel... - May 05 08:27 GMT
EUR/USD Candlesticks and Ichimoku Analysis
Last week's breach of previous resistance at 1.1052 signals temporary low ... - May 04 09:28 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.7300
Euro's retreat after rising to 0.7420 on Friday has retained our view that further consolidation below this level would be seen a... - May 05 14:34 GMT
Trade Idea: USD/CAD - Stand aside
Current selloff dampened our near term bullishness and suggests the rebound from 1.1945 (last week's low) has ended at 1.2205 and... - May 05 14:32 GMT
Trade Idea: EUR/JPY - Buy at 132.45
Euro's retreat after last week's rally to 135.29 suggests temporary top has been formed there and consolidation below this level ... - May 05 09:36 GMT
Trade Idea: AUD/USD - Sell at 0.7960
Despite intra-day brief fall to 0.7788, as aussie has rebounded after finding support there, suggesting consolidation would be se... - May 05 09:29 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Although cable surged last week to as high as 1.5498, the subsequent ... - May 05 10:07 GMT
GBP/JPY Elliott Wave Analysis
Despite last month's anticipated decline174.90, the subsequent strong... - May 05 09:58 GMT
USD/JPY Elliott Wave Analysis
Despite last week's brief fall to 118.50, as the greenback found rene... - May 04 10:52 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 05 19:15 GMT

Action Bias

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

US ISM Non-Manufacturing Index Unexpectedly Improved in April
May 05 15:24 GMT, by RBC Financial Group
The pace of growth in US non-manufacturing sectors accelerated in April 2015, as indicated by the ISM non-manufacturing index increasing to 57.8 from 56.5 in March. The pickup in April was in contras...
US Trade Deficit Widened Significantly in March
May 05 15:23 GMT, by RBC Financial Group
The US trade deficit widened to $51.4 billion in March 2015 from a revised $35.9 billion shortfall (previously reported as -$35.4 billion) in February. Market expectations had been for a much smaller...
Canada's Trade Deficit Hit Record in March as Export Prices Fell
May 05 15:21 GMT, by RBC Financial Group
The Canadian merchandise trade balance posted a $3.0 billion deficit in March, which was the largest monthly deficit on record, following a downwardly revised $2.2 billion shortfall (was $1.0 billion...
USD Softens on Trade Deficit Announcement
May 05 14:15 GMT, by ForexTime
The USD has softened once again following its trade deficit being announced even wider than expected. As a result, I am now expecting possible revisions to GDP forecasts in the near future. Prior to ...
US Open - Caution Seen at Start of Massive Week
May 05 13:19 GMT, by MarketPulse
It's been a quiet couple of days in the financial markets as investors in Europe celebrated the May bank holiday, heavily hitting trading volumes in the lead up to a massive weeks for investors. U...
Demand for US Dollar Tied to Yields and NFP
May 05 11:23 GMT, by MarketPulse
The mighty dollar took advantage of thin holiday trading conditions yesterday and rallied against the single currency. That trend continues this morning with the sell off in U.S bonds pushing the 30-...
All Daily Fundamental Reports >>

Technical Analysis Reports

King Dollar Suffers a Setback in the Game of Thrones
May 05 13:20 GMT, by Forex.com
Turning our attention to the dollar index, there is certainly a technical case to be made for a bounce. The trade-weighted index is finding some support at the convergence of the aforementioned 100-d...
EUR/USD Starts May on the Back Foot but Faces Key Week
May 05 12:45 GMT, by Forex.com
The EUR/USD has started the month of May on the back foot after a surprisingly strong performance in April, a month in which the world's heaviest traded currency pair gained about 470 pips (or 4.4%) ...
EURUSD May Face Resistance At 1.1300-1.1400 Level
May 05 09:55 GMT, by Elliott Wave Financial Service
EURUSD turned up in March, but for now only with three waves back into the area of a former wave four. So we believe that rally is corrective, most likely of a black wave IV which is now trading also...
Today's Market Outlook
May 05 07:57 GMT, by Windsor Brokers Ltd
EURUSD extends lower on two-day corrective pullback from 1.1288, with fresh extension below initial 1.1173 support, being initially contained by daily Ichimoku cloud base at 1.1121. The move is seen ...
Forex Technical Analysis
May 05 07:56 GMT, by DeltaStock Inc.
The slide after the recent reversal at 1.5500 is still underway, facing an immediate support around 1.5070 and crucial on the upside is 1.5190. A break through the latter will challenge 1.5300 resist...
EUR/USD Reverses Bullish Trend
May 05 07:42 GMT, by Dukascopy Swiss FX Group
After strongly upbeat movement of EUR/USD last week, as can be clearly observed on a weekly chart, this week the pair seems to be edging lower on correction. Fuelled by 100-day SMA, the Euro leaves t...
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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