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May 23 03:56 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 23 04:50 GMT

Action Bias

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

Fundamental Analysis Reports

Forex Exchange Morning Report
May 23 03:25 GMT, by Westpac Institutional Bank
The US dollar index was volatile but ended up at a three-year high. EUR initially rose from 1.2900 to 1.2998 but plunged to 1.2834 after Bernanke's remark. USD/JPY rose from 102.60 to 103.74 - a five...
Bernanke: To Taper, Or Not To Taper, That Is The Question
May 23 03:19 GMT, by Forex.com
Fed Chairman Ben Bernanke's testimony on the economy to the US Congress, has so far been the epitome of neutral. In typical Bernanke style he has oozed caution, unwilling to side with the doves or th...
Chinese Manufacturing PMI Slows In May
May 23 03:17 GMT, by ICN.com
Chinese manufacturing sector show slower pace during the month of May amid the recent global instability, which added to signs that the world’s second largest economy faces many challenges an obstacl...
Bernanke Speaks, US Dollar Rallies, Stocks And Bonds Sell Off
May 23 03:15 GMT, by Vantage FX
There was little inconvenient truth in Ben Bernanke's speech and then questions last night that has sent US 10 years yields 11 basis points higher to 2.03% , the S&P and Dow down 0.85% and 0.52% ...
Federal Reserve Minutes Show Debate Over Tapering Purchases Continues
May 23 03:03 GMT, by TD Bank Financial Group
The minutes of the Federal Open Market Committee (FOMC) meeting on March 19-20th showed little change in the economic outlook of participants, but an ongoing debate about how long and to what extent ...
FOMC: QE Tapering is Drawing Closer
May 23 02:57 GMT, by Danske Bank
The latest comments from key members of the FOMC, combined with a hawkish twist in this evening's FOMC minutes, suggest that a scaling-down of asset purchases is moving closer. We have so far stuck t...
All Daily Fundamental Reports >>

Technical Analysis Reports

USD/CAD Surges To A New 2013 High, 2012 High In Sight
May 23 03:40 GMT, by FXTimes
The USD is rallying across the board after Bernanke testified to the Joint Economic Committee. Although he said premature tightening could stifle economic activity, he did not talk about any expansio...
GBP/JPY Breaking Down Short-Term Range Support
May 23 03:37 GMT, by FXTimes
Ability to push above 156 would mean today's breakdown is a false break and suggests bullish continuation to threaten the 156.76 resistance especially since the prevailing trend is bullish. We might ...
The Daily Wave Analysis
May 23 03:32 GMT, by Admiral Markets
Presumably, the Impulse or the Diagonal Triangle (v) of [c] is forming . If this assumption is correct, in the course of the formation development we can expect further upward price movement.
Daily Forex Update: CAD/JPY
May 23 03:31 GMT, by Autochartist
The pair is expected to fall further toward the target level 96.27 in the following 7 trading days. The stop-level for this bearish forecast is set by Autochartist at 100.975 (point B, which is the t...
EUR/GBP Breaks Out Of Consolidation, More Upside Expected
May 23 03:23 GMT, by Forex.com
The Bank of England minutes from the May meeting released this morning was largely as expected and showed that Governor King was once again outvoted. The soon-departing Governor voted in favor of a £...
GBPUSD Tests April Lows Ahead Of Key 1.5000 Level
May 23 03:21 GMT, by Forex.com
Technically, GBPUSD was rebuffed once again into the key 55-day sma around 1.5250/55 earlier in the week. The sharp reversal witnessed thereafter saw Sterling take out the April 23rd low near 1.5195,...
All Daily Technical Reports >>

Analysis Report Search

Central Bank Analysis
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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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