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May 29 08:09 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

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea : USD/CHF - Buy at 0.9395
Although dollar has rebounded after holding above indicated previous support at 0.9405, reckon resistance at 0.9513 would limit u... - May 29 08:01 GMT
Trade Idea: GBP/USD - Stand aside
Although the British pound recovered after falling to 1.5261 yesterday and consolidation above this level would be seen, reckon u... - May 29 07:52 GMT
Trade Idea: EUR/USD - Sell at 1.1005
As the single currency found support at 1.0867 yesterday and rebounded, retaining our view that further consolidation above this ... - May 29 07:46 GMT
Trade Idea: USD/JPY - Buy at 122.90
Dollar's retreat after yesterday's rise to 124.46 suggests consolidation below there would be seen and minor correction to 123.49... - May 29 07:39 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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Currency Heat Map (Daily)

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Last Updated: May 29 08:00 GMT

Action Bias

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

Dollar Rally Slows, Waiting Better US Eco Data
May 29 07:45 GMT, by KBC Bank
Yesterday , there was no clear driver for USD trading. USD/JPY still set a new multi-year top, but the momentum of the overall USD rebound slowed. Today, the US eco data might be slightly USD support...
WTI Losses Continue As Commodity Linked Currencies Feel The Consequences
May 29 07:34 GMT, by ForexTime
While the headline attention continues to focus on Greece, investors could have found some outstanding opportunities to price weakness into those currencies linked to commodity prices yesterday. The ...
Canada's Current Account Widens In Q1
May 29 07:02 GMT, by Dukascopy Swiss FX Group
Canada's current account widened in the first quarter to the second highest level on record amid worsening trade, particularly in the energy sector. The deficit widened to $17.5 billion in the beginn...
Japan's Economic Data Paints Mixed Picture
May 29 07:01 GMT, by Dukascopy Swiss FX Group
A set of economic data from Japan painted a mixed picture with inflation and industrial production surpassing analysts' expectations, while improved labour market failed to persuade consumers to open...
UK GDP Grows 0.3% In Q1, ONS Confirms
May 29 06:15 GMT, by Dukascopy Swiss FX Group
The UK economic output rose in line with expectation in the first three months of 2015, marking the lowest growth rate since the fourth quarter of 2012. The British GDP expanded 0.3%, whereas economi...
Euro Zone Consumer And Business Confidence Remains Stable In May
May 29 06:10 GMT, by Dukascopy Swiss FX Group
The European Commission's Economic Sentiment Indicator, a measure of business and consumer confidence, was stable in May, after slightly falling in April from near the highest level in four years in ...
All Daily Fundamental Reports >>

Technical Analysis Reports

Forex Technical Analysis
May 29 07:41 GMT, by DeltaStock Inc.
EUR/USD The intraday bias here is positive, for a rise towards 1.1050 major resistance area. Crucial on the downside is 1.0860 low and a break through the latter will challenge 1.0784 support zone.
Today's Market Outlook
May 29 06:22 GMT, by Windsor Brokers Ltd
Hourly recovery ascend from fresh low at 1.0818, posted on 27 May, probed above the first pivot at 1.0955, daily Ichimoku cloud base. Gains peaked at 1.0973, marking over 38.2% retracement of 1.1206/...
WTI Signalling End Of Correction
May 29 06:05 GMT, by ThinkForex
The low of the Bullish Hammer is above the Morning Star Reversal pattern from 23rd April to suggest an interim base could form. It also closed back inside the lower Bollinger Band after breaking to t...
NZDUSD Eyes 71c
May 29 06:03 GMT, by ThinkForex
The 72c target projected by the Bearish Wedge was achieved this week, but I did expect a bit more of a bounce higher before losses resumed. Instead we were treated to a mild bounce before price unrav...
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...
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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