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Apr 27 08:57 GMT

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Daily Report: Forex Markets Steady in New Week
Apr 27 07:57 GMT, by ActionForex.com
The forex markets are generally steady as the week starts with mild weakness in dollar and yen. Asian equities were broadly higher as China stocks hit seven year high. But Nikkei closed slightly lower by -36.7 pts at 19983, below 20000 handle. European indices also opened mixed. Gold recovered some of last week's sharp losses but there is no clear...

Technical Outlook

EUR/USD Daily Outlook
Outlook in EUR/USD is unchanged. Price actions from 1.0461 are viewed as a consolidation pattern. As long as 1.1096 res... - Apr 27 08:22 GMT
GBP/USD Daily Outlook
Intraday bias in GBP/USD remains on the upside for the moment. Rebound from 1.4565 is expected to extend higher with fo... - Apr 27 08:20 GMT
USD/CHF Daily Outlook
Intraday bias in USD/CHF remains neutral for the moment. Fall from 1.0127 is still in favor to extend lower. Break of 0... - Apr 27 08:16 GMT
USD/JPY Daily Outlook
Intraday bias in USD/JPY stays neutral for the moment. Overall, the pair is staying in sideway consolidation and anothe... - Apr 27 08:09 GMT

Special Reports

China's Manufacturing Sector Contracted Further In April
Apr 24 06:30 GMT
Flash China Manufacturing PMI by HSBC fell to a 12-month low of 49.2 in April f...
SNB Added More Accounts To Negative Rates
Apr 23 05:44 GMT
The SNB announced that it would eliminate some groups of sight deposit account ...
BOE Sounded More Hawkish in April
Apr 22 11:31 GMT
British pound rose against US dollar and euro, after the BOE minutes unveiled t...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea : USD/CHF - Stand aside
Dollar's recovery after holding above support at 0.9500-02 suggests further consolidation would be seen and recovery to the upper... - Apr 27 08:20 GMT
Trade Idea: GBP/USD - Buy at 1.5065
As cable has eased after intra-day marginal rise to 1.5190 (Friday's high was 1.5189), suggesting minor consolidation below this ... - Apr 27 08:07 GMT
Trade Idea: EUR/USD - Buy at 1.0785
Euro's retreat after rising to 1.0900 last week suggests consolidation would be seen and pullback to 1.0805-10 cannot be ruled ou... - Apr 27 08:02 GMT
Trade Idea : USD/JPY - Stand aside
As the greenback has rebounded after falling to 118.78 earlier today, suggesting consolidation above this level would be seen and... - Apr 27 07:58 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

USD/JPY Candlesticks and Ichimoku Analysis
Despite last week's rebound to 120.09, as dollar has retreated after falte... - Apr 27 08:46 GMT
EUR/JPY - Candlesticks and Ichimoku Analysis
As the single currency has continued to edge higher after rebounding from ... - Apr 24 08:19 GMT
USD/CAD - Candlesticks and Ichimoku Analysis
The greenback only recovered to 1.2306 earlier this week before retreating... - Apr 24 08:08 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Hold long entered at 0.7135
Although the single currency has retreated after intra-day bounce to 0.7212, as long as yesterday's low at 0.7117 holds, further ... - Apr 24 14:11 GMT
Trade Idea: USD/CAD - Sell at 1.2320
Although the greenback has retreated after meeting resistance at 1.2306, reckon support at 1.2088 (last week's low) would limit d... - Apr 24 14:08 GMT
Trade Idea: EUR/JPY - Buy again at 129.00
As the single currency has rallied again after finding renewed buying interest at 127.88 yesterday, adding credence to our view t... - Apr 24 08:37 GMT
Trade Idea: AUD/USD - Stand aside
As aussie has rebounded again after finding support at 0.7711 yesterday, suggesting another test of last week's high at 0.7843 wo... - Apr 24 08:28 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/JPY Elliott Wave Analysis
Euro's rebound after falling to 126.09 earlier this month has retaine... - Apr 24 09:30 GMT
USD/CHF Elliott Wave Analysis
As the greenback has retreated again after this week's brief bounce t... - Apr 24 09:17 GMT
EUR/GBP Elliott Wave Analysis
Although the single currency has fallen again after brief recovery to... - Apr 23 10:52 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: Apr 27 09:50 GMT

Action Bias

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

Dollar In The Defensive Despite Rising Tensions On Greece
Apr 27 08:45 GMT, by KBC Bank
On Friday, the dollar lost ground as core bond yields declined. Poor US durable orders were also no help. At the same time, the euro had its ‘issues' too as there was an open rift between Greece and ...
Greece: Clock Is Ticking, Chinese Shares On The Rise
Apr 27 08:39 GMT, by Swissquote Bank SA
As expected the meeting of eurozone finance ministers in Riga last Friday has not resulted in an agreement that could potentially unlock the situation in Greece. Yanis Varoufakis, Greece's finance mi...
FOMC To Downplay Q1 Data Weakness
Apr 27 07:19 GMT, by Danske Bank
The April FOMC meeting concludes on Wednesday 29 April and the FOMC statement is released at 20:00 CET. There will be no press conference or updated projections. The tone of the speeches since the Ma...
Business Confidence In Germany Improves, As Ifo Business Climate Index At 10-Month High
Apr 27 07:07 GMT, by Dukascopy Swiss FX Group
German business morale improved further in the current month, as business confidence surged to the highest level in 10 months, a sign the Euro zone's number one economy is set to pick up steam on the...
US Durable Goods Soar 4% In March Amid Robust Demand For Commercial Aircraft
Apr 27 07:05 GMT, by Dukascopy Swiss FX Group
US durable goods, a bellwether of business spending, soared considerably more than expected in March. Orders for durable manufacturing goods surged 4% in March, the biggest increase since July 2014, ...
SNB Prepares To Intervene Currency Market, As Franc Is Overvalued
Apr 27 07:03 GMT, by Dukascopy Swiss FX Group
The Swiss National Bank stands ready to intervene in currency market, the central bank's President Thomas Jordan said. Swiss policy makers have pledged repeatedly to intervene in the FX market in rec...
All Daily Fundamental Reports >>

Technical Analysis Reports

EUR/USD Erodes Monthly PP
Apr 27 08:23 GMT, by Dukascopy Swiss FX Group
Towards the end of last week, EUR/USD erased important resistance at 1.0811, represented by the monthly pivot point. It allows the pair to build up a prolonged upside correction in the short-term, wi...
GBP/USD Attempts To Surpass 1.52
Apr 27 08:21 GMT, by Dukascopy Swiss FX Group
The Cable exceeded expectations, as it edged up a lot higher at the end of last week. The initial resistance was easily pierced, as well as the next cluster at 1.5156. Ultimately, the GBP/USD pair st...
USD/JPY Aims To Climb Over 119
Apr 27 08:20 GMT, by Dukascopy Swiss FX Group
On Friday, the US Dollar slumped more than anticipated. The two closest supports could not stop the USD/JPY pair from declining. As a result, the Greenback crossed the 119 level and closed trade at 1...
XAU/USD Tests 2013 Low For First Time Since March
Apr 27 08:19 GMT, by Dukascopy Swiss FX Group
Being strongly influenced by downward-sloping 55 and 20-day SMAs, the yellow metal slumped significantly during last trading session of the previous week. Weakness of Gold allowed bears to push the b...
NZDUSD Sends Bearish Signal Below 77c
Apr 27 06:40 GMT, by ThinkForex
To recap, RBNZ provided strong hints to the markets of a rate cut this year and all but removed a further rate hike. AUDNZD proceeded to bounce further away from Parity and even raises questions of t...
Daily FX Report
Apr 27 04:59 GMT, by Varengold Bank
Last week data about US orders of durable goods, manufacturing, and new home sales all came in weaker-than-estimated. Fed officials are going to decide on monetary policy on April 29, the same day a ...
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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