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Mid-Day Report: Dollar Dives on GDP, Yen Maintains Post BoJ Gains
Jul 29 13:07 GMT, by ActionForex.com
Dollar is under some selling pressure against Euro in early US session as GDP missed expectation. Q1 GDP showed 1.2% growth only versus expectation of 2.6%. The data could raise some doubts on whether Fed will hike interest rate this year. GDP price index rose 2.2%. Employment cost index rose 0.3% in Q2. From Canada, GDP dropped more than expected...

Technical Outlook

USD/CHF Mid-Day Outlook
USD/CHF's fall from 0.9949 extends today and intraday bias remains on the downside. The consolidation pattern from 0.94... - Jul 29 13:16 GMT
USD/JPY Mid-Day Outlook
Intraday bias in USD/JPY remains on the downside for 98.97/99.98 support zone. As noted before, current developments ma... - Jul 29 13:14 GMT
GBP/USD Mid-Day Outlook
Current development argues that the corrective pattern from 1.2794 is still in progress. Above 1.3480 will bring strong... - Jul 29 13:11 GMT
EUR/USD Mid-Day Outlook
EUR/USD's rise from 1.0951 continues today and intraday bias remains on the upside. Consolidation pattern from 1.0911 i... - Jul 29 13:08 GMT

Special Reports

RBA On Crossroad
Jul 29 08:22 GMT
Better-than-expected underlying CPI in Australia might buy RBA some time before...
BOJ Under-Delivers…
Jul 29 07:28 GMT
To our, as well as the market's, disappointment, BOJ announced fewer than expec...
Fed Stays Put, Turns More Hawkish, Thanks To Job Market Improvement
Jul 28 06:51 GMT
FOMC voted 9-1 to leave the Fed funds rate unchanged. However, policymakers sen...
All Special Reports >>

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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Sell at 0.9750
As the greenback has remained under pressure after this week's selloff from 0.9951, adding credence to our view that top has been... - Jul 29 15:39 GMT
Trade Idea Wrap-up: GBP/USD - Buy at 1.3185
Cable has rebounded again in NY morning after the release of US GDP data and test of previous resistance at 1.3315 would be seen,... - Jul 29 15:35 GMT
Trade Idea Wrap-up: EUR/USD - Buy at 1.1120
The single currency has surged again after brief pullback on dollar's broad-based weakness after GDP data, adding credence to our... - Jul 29 15:30 GMT
Trade Idea Wrap-up: USD/JPY - Stand aside
As the greenback has fallen again after brief bounce to 103.97, suggesting the selloff from 107.49 is still in progress and may e... - Jul 29 15:21 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/JPY Candlesticks and Ichimoku Analysis
Despite rising to 118.47 earlier this month, the single currency topped ou... - Jul 29 10:07 GMT
USD/CAD Candlesticks and Ichimoku Analysis
This week's breach of previous resistance at 1.3188 signals the erratic ri... - Jul 29 09:42 GMT
EUR/GBP Candlesticks and Ichimoku Analysis
Although the single currency recovered after falling to 0.8251 earlier thi... - Jul 28 09:26 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Hold long entered at 0.8390
The single currency found buying interest at 0.8387 and rebounded again, retaining our bullishness for the erratic rise from 0.82... - Jul 29 15:03 GMT
Trade Idea : USD/CAD - Stand aside
The greenback met renewed selling interest at 1.3192 and has dropped again today, dampening our bullishness and suggesting top ha... - Jul 29 14:53 GMT
Trade Idea: EUR/JPY - Stand aside
The single currency faltered below indicated resistance at 117.15 and dropped again today, suggesting the retreat from 118.47 top... - Jul 29 10:41 GMT
Trade Idea: AUD/USD - Buy at 0.7470
Aussie met resistance at 0.7550 twice and has retreated, suggesting consolidation below this level would be seen and pullback to ... - Jul 29 10:35 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/JPY Elliott Wave Analysis
As the single currency ran into strong resistance at 118.47 and has r... - Jul 29 11:06 GMT
USD/CHF Elliott Wave Analysis
Despite this week's initial rise to 0.9951, as the greenback faltered... - Jul 29 11:01 GMT
EUR/GBP Elliott Wave Analysis
Although the single currency retreated to 0.8251 earlier this month, ... - Jul 28 13:33 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: Jul 29 20:59 GMT

Action Bias

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

Second Quarter Growth Disappoints Despite Consumption Strength
Jul 29 13:47 GMT, by TD Bank Financial Group
Real GDP increased by an annualized 1.2% in the second quarter of 2016 according to the advance BEA estimate, or about a half of the expected growth rate of 2.5%. To make matters worse, growth in the...
Bank of Japan Eases Less than Expected
Jul 29 13:44 GMT, by TD Bank Financial Group
Yesterday the Bank of Japan (BoJ) decided to ease monetary policy by almost doubling its annual purchases of ETFs to 6 trillion yen from 3.3 trillion yen. In addition, the bank doubled its U.S. dolla...
Yen Jumps as BoJ Stays Pat, US GDP Disappoints
Jul 29 13:09 GMT, by MarketPulse
The Japanese yen has posted strong gains on Friday. In the North American session, USD/JPY is trading at 102.80. On the release front, Japanese consumer inflation and consumer spending indicators dis...
Are Central Banks Running Out of Options?
Jul 29 12:09 GMT, by MarketPulse
In the Bank of Japan's (BoJ) case, it may be so, as Governor Kuroda and his fellow monetary policy members disappointed the market overnight with its modest stimulus package. Of late, Kuroda has h...
EUR/USD – Euro Ticks Higher, Markets Eye US GDP
Jul 29 10:36 GMT, by MarketPulse
The euro has posted small gains on Friday, continuing the upward movement we’ve seen in the past two sessions. EUR/USD is currently trading slightly above the 1.11 line. On the release front, it’s an...
US Data In Focus, BoJ Disappoints
Jul 29 10:33 GMT, by Swissquote Bank SA
The US dollar has been under significant selling pressure in the wake of the publication of the July FOMC statement. Even though the idea of a rate hike in September gained support to some extent, th...
All Daily Fundamental Reports >>

Technical Analysis Reports

EUR/USD Appproaching 1.11 Level On Friday
Jul 29 08:13 GMT, by Dukascopy Swiss FX Group
The common European currency surged on Thursday to 1.1076 by the end of day's trading session. In addition, it was more volatile during the session to the upside, as the pair touched the 1.1120 level...
GBP/USD Risks Suffering More Losses
Jul 29 08:12 GMT, by Dukascopy Swiss FX Group
Yesterday the Cable behaved according to expectations, as the immediate support cluster succeeded in limiting the losses. Technically, the GBP/USD pair should now rebound and end the week with anothe...
USD/JPY Falls After BoJ Fails To Deliver
Jul 29 08:11 GMT, by Dukascopy Swiss FX Group
The US Dollar remained relatively unchanged against the Japanese Yen on Thursday, as a calm before the storm. And the storm did deliver, the USD/JPY currency pair plunged over 250 pips after the BoJ ...
Gold Continues To Fluctuate Around 1,340 Level On Friday
Jul 29 08:08 GMT, by Dukascopy Swiss FX Group
As it was stated yesterday, all what the FOMC announcement achieved was a movement of gold price fluctuation by 20 US dollars northwards. On Friday morning, the yellow metal continues to fluctuate ar...
Forex Technical Analysis
Jul 29 07:46 GMT, by DeltaStock Inc.
EUR/USD Current pullback after 1.1120 peak should be considered corrective, preceding another rise towards 1.1190 resistance area. Key support lies at 1.1030-40.
Wave Analysis Clarify Extensive Correction Triangles In Forex
Jul 29 06:44 GMT, by Admiral Markets
The EUR/USD continues its long-term consolidation pattern by staying between support (green) and resistance (orange). A bearish breakout is needed before the wave count is confirmed whereas any move ...
All Daily Technical Reports >>

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Long Term Forecasts

WTI Crude Oil A Year Ahead - Trends And Expectations 2016
Dec 24 11:45 GMT, by MarketPulse
The second half of 2014 saw a sharp drop in the price of WTI Crude Oil, which had traded at $105 a ...
DAX Year Ahead – Trends And Expectations 2016
Dec 24 11:11 GMT, by MarketPulse
It has been another testing year for the German economy but once again it has shown the kind of str...
British Pound Year Ahead - Brexit To Dominate 2016
Dec 22 12:49 GMT, by MarketPulse
This has been something of a turnaround year for the UK in which unemployment has fallen back to pr...
Gold for Bear Market?
Oct 13 13:23 GMT, by Merk Hard Currency Fund
A "bear market" is frequently defined as a decline of at least 20% in the S&P 500 index. Troubl...
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...
All Long Term Forecasts >>
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