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May 22 08:27 GMT

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Daily Report: Yen Recovers on Upbeat BoJ
May 22 04:11 GMT, by ActionForex.com
Yen recovers mildly today after BoJ left monetary policies unchanged and offered a slightly more upbeat view of the economy. The central bank held the annual pace of monetary base expansion at JPY 80T and kept interest rate near zero. The decisions were made with 8-1 vote with board member Takahide Kiuchi again voted for lowering the purchase targ...

Technical Outlook

EUR/USD Daily Outlook
As long as 1.1215 minor resistance holds, further fall is still expected in EUR/USD. The corrective rebound from 1.0461... - May 22 03:33 GMT
GBP/USD Daily Outlook
GBP/USD is staying in range below 1.5814 and intraday bias remains neutral. More consolidations could still be seen. In... - May 22 03:30 GMT
USD/CHF Daily Outlook
Intraday bias in USD/CHF remains neutral for consolidation above 0.9072 temporary low. Another decline is expected as l... - May 22 03:27 GMT
USD/JPY Daily Outlook
USD/JPY retreats today but with 120.58 minor support intact, further rise is still in favor. Sideway pattern from 122.0... - May 22 03:25 GMT

Special Reports

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...
BOE Minutes Warned Of Upside Risks In Housing Market
May 20 11:12 GMT
Delivering little surprise, the BOE minutes for the May showed that policymaker...
RBA Stays Open For Further Easing
May 19 06:37 GMT
RBA minutes for the May meeting unveiled that policymakers had consider reducin...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea : USD/CHF - Buy at 0.9285
As the greenback has retreated after faltering below indicated resistance at 0.9382 (yesterday's high), retaining our view that f... - May 22 08:20 GMT
Trade Idea: GBP/USD - Stand aside
The British pound has maintained a firm undertone after staging a strong rebound yesterday on solid UK data, suggesting the fall ... - May 22 08:13 GMT
Trade Idea: EUR/USD - Sell at 1.1220
As the single currency has rebounded after finding support just above 1.1100, retaining our view that further consolidation above... - May 22 08:07 GMT
Trade Idea: USD/JPY - Buy at 120.40
As the greenback has slipped after meeting resistance at 121.26, retaining our view that further sideways trading below this week... - May 22 07:51 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/GBP Candlesticks and Ichimoku Analysis
Current break of previouos support at 0.7117 adds credence to our view tha... - May 21 09:15 GMT
EUR/CHF Candlesticks and Ichimoku Analysis
Although the single currency rebounded to 1.0502 earlier this week, as thr... - May 21 09:00 GMT
AUD/JPY Candlesticks and Ichimoku Analysis
Aussie did find renewed buying interest at 94.35 (we recommended in our pr... - May 20 09:26 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.7230
As the single currency has trader lower after breaking indicated support at 0.7117-23, retaining our view that correction from 0.... - May 21 15:22 GMT
Trade Idea: USD/CAD - Buy at 1.2135
As the greenback has continued to trade with a firm undertone after recent rally, adding credence to our view that a temporary lo... - May 21 15:18 GMT
Trade Idea: EUR/JPY - Buy at 134.50
As the single currency has rebounded again after intra-day brief retreat to 134.22, suggesting low has possibly been formed at 13... - May 21 09:55 GMT
Trade Idea: AUD/USD - Sell at 0.7985
As aussie has remained under pressure after dropping from 0.8163 (last week's high), bearishness remains for this fall to extend ... - May 21 09:48 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/GBP Elliott Wave Analysis
The single currency finally broke below previous support at 0.7117, a... - May 21 10:45 GMT
USD/CAD Elliott Wave Analysis
As the rebound from 1.1920 (last week'slow) turned out to be stronger... - May 21 10:38 GMT
AUD/USD Elliott Wave Analysis
Although aussie did extend the rebound from 0.7533 low in line with o... - May 20 11:25 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 22 08:20 GMT

Action Bias

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

Fundamental Analysis Reports

Dollar Rebound Running Into Resistance As US Data Fail To Convince
May 22 08:23 GMT, by KBC Bank
Yesterday, EUR/USD showed some technically inspired intraday swings. At the end of the day, the dollar traded slightly lower against the euro and the yen. This morning, the USD is still in the defens...
Power For The Pound Bulls
May 22 08:13 GMT, by ForexTime
The Pound bulls went on a rampage yesterday, with the GBP punishing the majority of its trading partners following UK retail sales being announced much higher than expected. Aside from inflation risk...
Dollar Lower Amid Poor US Data, Yellen, CPI
May 22 08:11 GMT, by Swissquote Bank SA
The month of April was a disappointment. Despite encouraging housing data on Tuesday, all other indicators point toward a delay in economic recovery as the Philadelphia Fed survey (6.7 versus 8 expec...
China's Manufacturing Activity Continues To Decline In May
May 22 07:52 GMT, by Dukascopy Swiss FX Group
China's manufacturing activity declined for the third consecutive months in May as demand remained weak, fuelling expectations for more stimulus to support the growth in the world's second biggest ec...
BoJ Unbeat On Economy, Keeps Stimulus On Hold
May 22 07:02 GMT, by Dukascopy Swiss FX Group
The Bank of Japan refrained from adding more monetary stimulus and expressed more upbeat view on the world's third largest economy, as a rebound in consumption boosted services sector's sentiment to ...
UK Retail Sales Rebound Strongly In April
May 22 06:59 GMT, by Dukascopy Swiss FX Group
UK retail sales unexpectedly jumped in Aprils as warm weather boosted clothing demand the most in four years. The volume of sales including auto fuel soared 1.2% from March, the Office for National S...
All Daily Fundamental Reports >>

Technical Analysis Reports

AUDUSD Could Make Corrective Pause Before Continues Much Lower
May 22 08:16 GMT, by Elliott Wave Financial Service
AUDUSD reached new highs last week at 0.8160 where could be the end of a corrective rally from March lows if we consider recent turn down through the lower side of a trading channel, deeply back into...
EUR/USD Fails To Return Back Above 100-Day SMA
May 22 08:06 GMT, by Dukascopy Swiss FX Group
Despite EUR/USD's attempts to return back above the 100-day SMA at 1.1147, the key attention remains on the downside and the closest support level at 1.1013 (weekly S2). This demand is accompanied by...
GBP/USD Attempts To Negate Weekly Losses
May 22 08:05 GMT, by Dukascopy Swiss FX Group
The Sterling appreciated against the US Dollar for the second day yesterday. The British currency almost managed to erase Tuesday's losses, with the session high even stretching out to 1.57. However,...
USD/JPY Falls Beneath 121
May 22 08:02 GMT, by Dukascopy Swiss FX Group
On Thursday, the US Dollar suffered losses, amid worse-than-expected fundamentals. However, the Bollinger band at 121.04 managed to stop the USD/JPY pair from falling too deep. Further weakness is ex...
XAU/USD Is Unchanged Below Weekly PP
May 22 08:01 GMT, by Dukascopy Swiss FX Group
Yesterday, the bullion registered no substantial price movements. The key resistance zone remains in place around 1,210. This cluster of supply levels is represented by 100 and 200-day SMAs, weekly P...
Today's Market Outlook
May 22 06:57 GMT, by Windsor Brokers Ltd
Near-term bears pause above fresh low at 1.1060, with consolidation being a main theme. Neutral hourly tone and price action moving between daily Kijun-sen and 20SMA, suggest prolonged consolidative ...
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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