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May 29 05:59 GMT

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Daily Report: Yen Recovers after Selloff Off, CPI Stayed Weak
May 29 04:11 GMT, by ActionForex.com
Yen recovers mildly after suffering steep selloff against dollar today. Released from Japan, national CPI core came in at 0.3% yoy in April, slightly higher than expectation of 0.2% yoy. That was still well below BoJ's 2% inflation target. And the data points to the fact that BoJ's stimulus wasn't entirely effective so far. Tokyo CPI core slowed t...

Technical Outlook

EUR/USD Daily Outlook
Intraday bias in EUR/USD remains neutral for consolidation above 1.0818 temporary low. Further decline is expected as l... - May 29 04:17 GMT
GBP/USD Daily Outlook
With 1.5088 support intact, rise from 1.4565 could extend higher. Above 1.5814 will target 61.8% retracement of 1.7190 ... - May 29 04:15 GMT
USD/CHF Daily Outlook
Intraday bias in USD/CHF stays neutral for some consolidations below 0.9542 temporary top. Another rise is still expect... - May 29 04:13 GMT
USD/JPY Daily Outlook
A temporary top is in place after USD/JPY rose to 124.45 and intraday bias is turned neutral first. Some consolidations... - May 29 04:11 GMT

Special Reports

BOC Indicates Canada's Economy Hinges On US' Growth
May 28 06:34 GMT
The BOC meeting in May delivered little surprise as it was widely anticipated t...
BOJ Expects Inflation To Achieve Target Later Than Expected. Yen Slumped
May 27 06:26 GMT
Japanese yen slumped as BOJ minutes unveiled that Japan’s inflation would reach...
Fed Unveiled Rate Hike In June Unlikely
May 21 03:42 GMT
The FOMC minutes for the April meeting contained little news. Yet, the indicati...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.9405
As the greenback has retreated again after intra-day brief bounce to 0.9513, retaining our view that further consolidation below ... - May 28 15:42 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
Although the British pound has remained under pressure after meeting renewed selling interest at 1.5386 and near term downside ri... - May 28 15:38 GMT
Trade Idea Wrap-up: EUR/USD - Sell at 1.0990
Euro's rebound from yesterday's low of 1.0819 has retained our view that initial consolidation would be seen and recovery to 1.09... - May 28 15:33 GMT
Trade Idea Wrap-up: USD/JPY - Buy at 122.90
The greenback has continued to move higher after recent rally, adding credence to our view that medium term upmove is still in pr... - May 28 15:29 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/GBP Candlesticks and Ichimoku Analysis
As euro has recovered after falling to 0.7055 yesterday, suggesting consol... - May 28 08:50 GMT
EUR/CHF Candlesticks and Ichimoku Analysis
Although euro's retreat from 1.0502 has kept price under pressure and near... - May 28 08:42 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Aussie's sharp retreat from 0.8163 (this month's high) adds credence to ou... - May 27 09:21 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.7230
As the single currency has rebounded after finding support at 0.7055 yesterday, suggesting consolidation above this level would b... - May 28 15:08 GMT
Trade Idea: USD/CAD - Buy at 1.2400
As the greenback has maintained a firm undertone recent rally, adding credence to our bullish view that low has been formed at 1.... - May 28 15:00 GMT
Trade Idea: EUR/JPY - Hold long entered at 134.25
The single currency found renewed buying interest at 133.82 and has rallied again, adding credence to our view that low has possi... - May 28 09:43 GMT
Trade Idea: AUD/USD - Stand aside
Aussie has fallen again after brief bounce to 0.7761, suggesting the deline from 0.8163 (wave A top) is still in progress and dow... - May 28 09:37 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
Although last week's breach of previous support at 0.7117 adds creden... - May 28 10:49 GMT
USD/CAD Elliott Wave Analysis
The greenback staged a strong rebound after finding good support at 1... - May 28 10:44 GMT
AUD/USD Elliott Wave Analysis
Aussie continued to fall after retreating sharply from 0.8163 (this m... - May 27 11:05 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 29 05:50 GMT

Action Bias

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

AUD/USD: Aussie Trading On A Stronger Footing In The Asian Session
May 29 05:30 GMT, by GCI Financial
The pair is expected to find support at 0.7617, and a fall through could take it to the next support level of 0.7569. The pair is expected to find its first resistance at 0.7714, and a rise through c...
EUR/USD: Euro Trading Lower Ahead Of Germany's Retail Sales Data
May 29 05:29 GMT, by GCI Financial
The pair is expected to find support at 1.0890, and a fall through could take it to the next support level of 1.0824. The pair is expected to find its first resistance at 1.0998, and a rise through c...
GBP/USD: Britain's Grows Less Than Expected
May 29 05:25 GMT, by GCI Financial
The pair is expected to find support at 1.5267, and a fall through could take it to the next support level of 1.52. The pair is expected to find its first resistance at 1.5394, and a rise through cou...
USD/JPY: Japan's CPI Came In Weak At 0.6%
May 29 05:24 GMT, by GCI Financial
The pair is expected to find support at 123.37, and a fall through could take it to the next support level of 123.04. The pair is expected to find its first resistance at 124.26, and a rise through c...
USD/CHF: Swiss Franc Trading On A Weaker Footing Ahead Of Switzerland's Q1 GDP Data
May 29 05:23 GMT, by GCI Financial
The pair is expected to find support at 0.9391, and a fall through could take it to the next support level of 0.9356. The pair is expected to find its first resistance at 0.9489, and a rise through c...
USD/CAD: Loonie Trading Higher Ahead Of Canada's Q1 GDP Data
May 29 05:22 GMT, by GCI Financial
The pair is expected to find support at 1.2377, and a fall through could take it to the next support level of 1.2333. The pair is expected to find its first resistance at 1.2503, and a rise through c...
All Daily Fundamental Reports >>

Technical Analysis Reports

Daily FX Report
May 29 05:43 GMT, by Varengold Bank
The dollar climbed to a 12-1/2-year high against the yen on Thursday before pulling back as investors bet that U.S. interest rates will rise later this year while Japan's monetary policy remains ultr...
Foreign Exchange Market Commentary
May 29 04:54 GMT, by HY Markets
THE EURO closed higher on Thursday. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutr...
Daily Technical Analysis
May 29 04:17 GMT, by FX Instructor
The EURUSD was corrected higher yesterday and hit 1.0973 earlier today. The bias is bullish in nearest term testing 1.1000 – 1.1050 but overall I remain bearish and any upside pullback now should be ...
Market Morning Briefing
May 29 04:16 GMT, by Kshitij Consultancy Services
Dollar-Yen (123.73) rose to as much as 124.46, surpassing the Jun-2007 high of 124.16, but has come off a bit from there. If may become very bullish if it manages to break above 124.50 next week. But...
Australia 200 – Resistance At 5800 Flexes Its Muscle
May 29 01:45 GMT, by MarketPulse
In the last couple of weeks the ASX200 index has moved back and forth around the key 5650 level, but in doing so has temporarily halted the medium term down trend it was in from 6000. It has been abl...
AUD/USD – Looks For Support Around 0.76
May 29 01:41 GMT, by MarketPulse
The Australian dollar has continued to decline strongly and has recently reached a six week just above 0.76. This is a significant level and the AUD/USD will be looking for support from this level pr...
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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