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May 20 15:36 GMT

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Mid-Day Report: Yen Recovery Lost Steam, Markets Consolidate
May 20 13:28 GMT, by Action Forex
Markets are relatively steady in thin holiday trading today. Yen recovered earlier today but there was no follow through buying so far. Dallas Fed Fisher said today that he saw the economy picking up as they go through the year and might even grow at rate above 2.5%. Regarding Fed's expect he preferred Fed to dial back the asset purchase rathe...

Technical Outlook

EUR/USD Mid-Day Outlook
No change in EUR/USD's outlook. With 1.2929 minor resistance intact, deeper decline is still expected in EUR/USD for 1.... - May 20 13:40 GMT
GBP/USD Mid-Day Outlook
No change in GBP/USD's outlook. With 1.5322 minor resistance intact, deeper decline is still expected. As noted before,... - May 20 13:38 GMT
USD/CHF Mid-Day Outlook
As long as 0.9578 support holds, further rally is still expected. Sustained trading above 100% projection of 0.9021 to ... - May 20 13:36 GMT
USD/JPY Mid-Day Outlook
With 101.82 minor support intact, further rise is still expected in USD/JPY and current rally is targeting 61.8% projec... - May 20 13:29 GMT

Special Reports

BOE Stands on the Sideline, Awaiting Carney
May 09 13:20 GMT
The BOE refrained from adding further stimulus at the May meeting, i.e. leaving...
RBA Cut Rate To Record Low
May 07 05:49 GMT
The RBA cut the cash rate by -25 bps to 2.75% in May citing that domestic growt...
ECB Cuts Policy Rate to 0.5%, Hints for Negative Deposit Rate
May 02 16:59 GMT
The ECB cut the main refinancing rate by -25 bps to 0.5% in May, in response to...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/CHF - Buy at 0.9585
Despite Friday's anticipated resumption of recent upmove, lack of follow through buying and the several spikes formed on the hour... - May 20 13:15 GMT
Trade Idea Update: GBP/USD - Look to sell higher
Although cable resumed recent decline last Friday and fell to as low as 1.5158, loss of downward momentum should prevent sharp fa... - May 20 13:13 GMT
Trade Idea Update: EUR/USD - Stand aside
Despite Friday's resumption of decline to 1.2796, the subsequent rebound suggests consolidation above this level would be seen an... - May 20 13:12 GMT
Trade Idea Update: USD/JPY - Stand aside
Despite Friday's resumption of recent upmove to 103.31, the subsequent retreat from there to 102.00 (intra-day low) suggests a mi... - May 20 13:10 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/USD Candlesticks and Ichimoku Analysis
The single currency continued to head soutyh last week and price finally b... - May 20 10:28 GMT
USD/JPY Candlesticks and Ichimoku Analysis
The greenback has risen again after brief pullback and the breach of indic... - May 20 09:56 GMT
EUR/JPY Candlesticks and Ichimoku Analysis
This week's resumption of recent upmove to 132.78 adds credence to our bul... - May 17 10:00 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Hold short entered at 0.8465
Although the single currency rebounded after falling to 0.8420 last week, if our view that top has been formed at 0.8516 last wee... - May 20 14:57 GMT
Trade Idea: USD/CAD - Buy at 1.0200
As the greenback has retreated after rising to 1.0313 last week, suggesting minor consolidation below there would be seen and pul... - May 20 14:53 GMT
Trade Idea: EUR/JPY - Buy at 131.35
Despite intra-day brief fall to 130.93, as the single currency found good support there and has rebounded, suggesting consolidati... - May 20 09:13 GMT
Trade Idea: AUD/USD – Sell at 0.9915
As aussie has recovered after falling to 0.9711 on Friday, suggesting minor consolidation above this level would be seen and mino... - May 20 09:03 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

USD/JPY Elliott Wave Analysis
The greenback only eased to 98.58 before finding renewed buying inter... - May 20 11:03 GMT
EUR/USD Elliott Wave Analysis
The single currency dropped again after brief recovery to 1.3030 last... - May 20 10:55 GMT
EUR/JPY Elliott Wave Analysis
The single currency has maintained a firm undertone this week after r... - May 17 11:05 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 20 16:30 GMT

Action Bias

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

Fundamental Analysis Reports

Reflection Time for Dollar Traders
May 20 13:08 GMT, by Forex.com
It's been pretty slow-going today as economic data has been thin on the ground. Ranges in FX are fairly tight and stock markets are flat to fairly neutral. Currently US futures are pointing to a slig...
EUR/USD - Quiet in Thin Holiday Trading
May 20 11:39 GMT, by OANDA
It's a very quiet start to the new trading week, as the EUR/USD trades in the mid-128 range in Monday trading. The French and German markets are closed today for a holiday, so trading will be thin. I...
USD And Stock Continue To Rally
May 20 10:09 GMT, by Swissquote Bank SA
Currently the recent economic data (including stronger than expected GDP) from the US has been supportive of the Fed easing policy. This will put the focus on the Chairman Bernanke's testimony in Con...
European Market Update
May 20 09:56 GMT, by Trade The News
The USD/JPY was lower by 50+pips ahead of the NY morning. Dealers were wondering whether an implied ceasefire was underway in the stealth currency wars. Japan Econ MIn Amari suggested that excessive ...
Dollar Gains Capped For Now…
May 20 09:53 GMT, by Forex.com
There may be some reasons to be cautious about the dollar outlook this week. Last week's push higher in USD was partially driven by some hawkish Fed commentary. However, on Wednesday we will hear fro...
Bank Of England's King Sends Messages To Carney
May 20 09:40 GMT, by ICN.com
Bank of England Mervyn King gave some messages to his successor Mark Carney, who will take charge of the BOE on July 1, in an interview on Sky News television broadcast on Sunday, telling him signal ...
All Daily Fundamental Reports >>

Technical Analysis Reports

DJIA Trading up to a Swing Projection Zone
May 20 14:20 GMT, by FXTimes
Rising channel: The EUR/USD has been rallying since Nov. 2012, and appears to continue in a rising channel. All the moving averages are in bullish alignment, and the RSI has remained above 40 and tag...
AUDUSD May See a Short-Term Rebound
May 20 14:17 GMT, by Forex.com
AUD/USD has experienced a sharp decline since breaking below its long-term horizontal channel and daily oscillators are indicating that the selloff may be reaching exhaustion as the RSI and stochasti...
Silver Spike Shows Support Above 20
May 20 14:15 GMT, by FXTimes
Bearish continuation, support: Silver ended last week testing the 2013 and April low of 22.03 and started this week by breaking below it. There was a spike lower during the European session. The char...
GBP/JPY Awaits Break from Consolidation; Prevailing Trend is up
May 20 13:33 GMT, by FXTimes
Consolidation: The 4H GBP/JPY chart shows a market that has fallen into a consolidation range roughly between 156.75 and 154.85. This range is set following a bullish market since at least the beginn...
GBP/USD Resolving a Short-term Bullish Divergence
May 20 13:07 GMT, by FXTimes
1.52: The GBP/USD broke below the 1.52 handle, but has not extended lower, pulling back from 1.5156. As we start the week, the market bounced up to 1.52 forming an intra-session bottom from last Frid...
EUR/USD Rallies above May's Falling Trendline
May 20 13:05 GMT, by FXTimes
Breakout, pullback: The EUR/USD fell below 1.28 briefly last Friday but closed above it and has been recovering from there since. The 5/20 session so far has brought the pair back to 1.2877. Although...
All Daily Technical Reports >>

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Long Term Forecasts

Is the U.K. Economy (Finally) Turning the Corner?
Apr 29 15:48 GMT, by Wells Fargo Securities
Recently released data show that real GDP in the United Kingdom grew 0.3 percent (1.2 percent at an...
Easy Money: Japan's Policy Gamble
Apr 13 04:00 GMT, by Wells Fargo Securities
This report focuses on Japan and considers the domestic implications of the bold fiscal and monetar...
A Bird's Eye View of the Global Economy
Mar 19 16:25 GMT, by TD Bank Financial Group
The global economy grew by an estimated 2.9% in 2012. The euro zone double dip recession, a softer ...
FX Top Trades 2013: How to Position for the Coming Year
Dec 05 14:55 GMT, by Danske Bank
For the fourth time, we present our year-end FX Top Trades for the coming year. In the years 2010-2...
Implications for UK & Canada from the Appointment of Mark Carney as BoE Governor
Nov 27 11:51 GMT, by TD Bank Financial Group
Chancellor Osborne announced today that Mark Carney, currently the Governor of the Bank of Canada, ...
All Long Term Forecasts >>
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