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May 22 20:01 GMT

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Mid-Day Report: Sterling Tumbled on BoE Minutes and Retail Sales, Dollar Volatile on Bernanke
May 22 12:45 GMT, by ActionForex.com
Dollar spiked against euro, with EUR/USD just missing 1.3 psychological level in early US session. In his testimony to the Joint Economic Committee of Congress, Fed chairman Bernanke warned that premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the ec...

Technical Outlook

EUR/CHF Mid-Day Outlook
EUR/CHF's rally accelerated today and break through 1.2568 key resistance. The development confirmed resumption of medi... - May 22 12:20 GMT
EUR/USD Mid-Day Outlook
Recovery from 1.2796 might extend higher and could target 55 days EMA (now at 1.3021). But overall, we'd expect upside ... - May 22 12:19 GMT
USD/CHF Mid-Day Outlook
USD/CHF is staying below 0.9760 temporary top and intraday bias remains neutral. More consolidations could be seen. But... - May 22 12:17 GMT
USD/JPY Mid-Day Outlook
USD/JPY recovers mildly today but stays below 103.30 temporary top. More consolidations could still be seen and intrada... - May 22 12:15 GMT

Special Reports

Three Out of Nine BOE Members Proposed to Expand the Size of Asset Purchases
May 22 13:29 GMT
The BOE minutes unveiled that all 9 MPC members voted for keeping the Bank rate...
RBA Minutes Signaled Rate Cut Was Needed To Boost Growth
May 21 04:59 GMT
The RBA released minutes for the May monetary policy meeting, explaining the ra...
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...
All Special Reports >>

Markets Snapshot

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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Target met and stand aside
Despite intra-day brief retreat in New York morning, as indicated support at 0.9680 has held and the greenback has rallied from h... - May 22 15:50 GMT
Trade Idea Wrap-up: GBP/USD - Sell at 1.5125
Despite intra-day brief bounce to 1.5158, as the British pound met renewed selling interest there and has fallen again on dollar'... - May 22 15:45 GMT
Trade Idea Wrap-up: EUR/USD - Sell at 1.2930
Despite intra-day rally to 1.2998, as the single currency ran into heavy offers just below 1.3000 level and has retreated sharply... - May 22 15:39 GMT
Trade Idea Wrap-up: USD/JPY - Stand aside
Although current break of last week's high of 103.31 confirms recent upmove has resumed and further gain to 130.70-75 would be se... - May 22 15:35 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

AUD/JPY Candlesticks and Ichimoku Analysis
The Australian dollar met renewed selling interest at 102.15 in line with ... - May 22 09:49 GMT
AUD/USD Candlesticks and Ichimoku Analysis
Aussie extended recent decline to as low as 0.9711 last week, exceeded our... - May 22 09:30 GMT
GBP/USD Candlesticks and Ichimoku Analysis
Although the British pound extended recent decline from 1.5607 to as low a... - May 21 10:06 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Stand aside
Although intra-day rally to 0.8590 suggests low has possibly been formed at 0.8398 earlier and consolidation with upside bias rem... - May 22 15:07 GMT
Trade Idea: USD/CAD - Hold long entered at 1.0260
Despite intra-day brief retreat to 1.0251 (we recommended to buy at 1.0260 yesterday), as the greenback found renewed buying inte... - May 22 15:02 GMT
Trade Idea: EUR/JPY - Buy at 132.55
Current rally above last week's high of 132.78 confirms recent upmove has finally resumed and further gain to 133.50 and 133.90-0... - May 22 08:38 GMT
Trade Idea: AUD/USD – Sell at 0.9915
Although aussie has retreated again after recovering to 0.9842, break of recent low of 0.9711 (last week's low) is needed to conf... - May 22 08:31 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

AUD/USD Elliott Wave Analysis
Aussie has fallen again after brief recovery, the strength of recent ... - May 22 10:53 GMT
EUR/CHF Elliott Wave Analysis
Current break of previous resistance at 1.2573 confirms our bullish v... - May 22 10:45 GMT
GBP/USD Elliott Wave Analysis
The British pound only recovered to 1.5323 (we recommended to sell at... - May 21 11:01 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 22 20:55 GMT

Action Bias

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

Fundamental Analysis Reports

U.S. Existing Home Sales in April Rise to Highest Level Since November 2009
May 22 15:15 GMT, by RBC Financial Group
An annualized 4.97 million existing homes were sold in the US in April 2013, which was a 0.6% increase from the revised 4.94 million annualized units sold in March (initially reported as 4.92 million...
Canadian March Retail Sales Flat although Volumes up Strongly
May 22 15:12 GMT, by RBC Financial Group
Nominal retail sales in March 2013 were unchanged in the month following a 0.7% jump in February, which was revised downward slightly from an initially reported gain of 0.8%. Expectations had been fo...
Are We Pre-Trading A Dovish Announcement From Bernanke?
May 22 11:33 GMT, by OANDA
St Louis Fed President, James Bullard, a supposed hawk, has been bullying the 'single' currency bears into temporary submission ahead of today's FOMC meeting minutes or at least he should be held res...
Bank Of Japan Not Concerned About Increase In Bond Yields
May 22 11:05 GMT, by Danske Bank
There was no big news in connection with today's meeting, which underscores that we have entered a phase in which BoJ-meetings in general will be less dramatic than during the past six months. The Bo...
Pound Declines On Weak Retail Sales Data, BoE Minutes, Yen Falls After BOJ
May 22 10:55 GMT, by ICN.com
The Japanese yen dropped to a three-year low against the euro after Bank of Japan (BOJ) policy makers affirmed a plan to double the monetary base over two years and their statement made no reference ...
Fed: To Taper Or Not To Taper?
May 22 10:38 GMT, by Swissquote Bank SA
The markets mostly remain on wait-and-see mood to hear what the Fed President Bernanke will say to end the suspense on 'to taper or not to taper' specs. The USD is broadly sold ahead of Bernanke’s te...
All Daily Fundamental Reports >>

Technical Analysis Reports

EUR/GBP has 0.8635 in Sight; Fractal Breakout Observed
May 22 14:40 GMT, by FXTimes
Breakout: The 4H EUR/GBP chart shows a market that is extending a breakout above a consolidation range roughly between 0.84 and 0.8515. The market is not trending, as reflected by the relatively flat...
USD/CHF Trading in an Ascending Triangle after Completing Swing Projection
May 22 13:32 GMT, by FXTimes
Ascending triangle, bullish biases: USD/CHF has been bullish in May, but since it found resistance around 0.9750 it has been forming an ascending triangle. This congestion pattern reflects a market c...
FX Mover: USDJPY above 103.00 ahead of Bernanke's Testimony
May 22 13:20 GMT, by Forex.com
The dollar is back in the ascendency today as we lead up to the key event that ALL eyes will be on: Fed chairman Bernanke's testimony to Congress at 1500 BST/ 1000 ET. USDJPY is close to the top of i...
USD/JPY Rises, Testing 103 Again
May 22 09:28 GMT, by ZIFX.com
On Tuesday Dollar/Yen traded within 75 pip range. The currency couple appreciated from 102.11 to 102.89 yesterday, matching the positive money flow sentiment at nearly +7%, closing the day at 102.42....
Morning Forex Technical
May 22 08:57 GMT, by Dukascopy Swiss FX Group
The major currency pair appreciated further in yesterday's trading session, as the exchange rate settled above a 1.2900 benchmark. Investors wait for more information from the Federal Open Market Com...
Technical Analysis for Major Currencies
May 22 08:33 GMT, by ICN.com
The pair moved to the upside yesterday after failing to stable below the ascending key support level as shown on graph, but we see it stable below Linear Regression Indicator 34 indicating the possib...
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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