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May 29 12:09 GMT

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European Session: Orders and Options Watch
May 29 09:56 GMT, by ActionForex.com
EUR: The single currency maintained a relatively firm undertone after rebounding from this week's low at 1.0819, however, offers are still noted at 1.0980 and 1.1000, selling interest is tipped further out at 1.1020, 1.1050 and 1.1080, mixture of offers and stop is located at 1.1100. On the downside, bids are raised to 1.0925-30, 1.0900 and 1.0880...

Technical Outlook

EUR/USD Daily Outlook
Intraday bias in EUR/USD remains neutral for consolidation above 1.0818 temporary low. Further decline is expected as l... - May 29 04:17 GMT
GBP/USD Daily Outlook
With 1.5088 support intact, rise from 1.4565 could extend higher. Above 1.5814 will target 61.8% retracement of 1.7190 ... - May 29 04:15 GMT
USD/CHF Daily Outlook
Intraday bias in USD/CHF stays neutral for some consolidations below 0.9542 temporary top. Another rise is still expect... - May 29 04:13 GMT
USD/JPY Daily Outlook
A temporary top is in place after USD/JPY rose to 124.45 and intraday bias is turned neutral first. Some consolidations... - May 29 04:11 GMT

Special Reports

BOC Indicates Canada's Economy Hinges On US' Growth
May 28 06:34 GMT
The BOC meeting in May delivered little surprise as it was widely anticipated t...
BOJ Expects Inflation To Achieve Target Later Than Expected. Yen Slumped
May 27 06:26 GMT
Japanese yen slumped as BOJ minutes unveiled that Japan’s inflation would reach...
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...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/CHF - Buy at 0.9395
As dollar has slipped again after intra-day brief bounce to 0.9479, retaining our view that further consolidation is in store and... - May 29 10:42 GMT
Trade Idea Update: GBP/USD - Stand aside
As the British pound has retreated again after meeting resistance at 1.5342, suggesting a retest of yesterday's low at 1.5261 wou... - May 29 10:38 GMT
Trade Idea Update: EUR/USD - Sell at 1.1005
As the single currency found support at 1.0867 yesterday and rebounded, retaining our view that further consolidation above this ... - May 29 10:32 GMT
Trade Idea Update: USD/JPY - Buy at 122.90
Dollar's retreat after yesterday's rise to 124.46 suggests consolidation below there would be seen and minor correction to 123.49... - May 29 10:29 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

EUR/JPY - Candlesticks and Ichimoku Analysis
Although the single currency slipped again and fell to 133.10 earlier this... - May 29 09:11 GMT
USD/CAD - Candlesticks and Ichimoku Analysis
As the rebound from 1.1920 turned out to be much stronger than expected, s... - May 29 08:50 GMT
EUR/GBP Candlesticks and Ichimoku Analysis
As euro has recovered after falling to 0.7055 yesterday, suggesting consol... - May 28 08:50 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY - Hold long entered at 134.25
The single currency has continued to move higher, retaining our view that low has possibly been formed at 133.10 earlier this wee... - May 29 09:57 GMT
Trade Idea: AUD/USD - Stand aside
Although aussie has remained under pressure and near term downside risk remains for the decline from 0.8163 (wave A top) to exten... - May 29 09:51 GMT
Trade Idea: EUR/GBP - Sell at 0.7230
As the single currency has rebounded after finding support at 0.7055 yesterday, suggesting consolidation above this level would b... - May 28 15:08 GMT
Trade Idea: USD/CAD - Buy at 1.2400
As the greenback has maintained a firm undertone recent rally, adding credence to our bullish view that low has been formed at 1.... - May 28 15:00 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

EUR/JPY Elliott Wave Analysis
Although the single currency slipped to 133.10 initially this week, a... - May 29 10:23 GMT
USD/CHF Elliott Wave Analysis
The greenback staged a stronger-than-expected rebound after holding a... - May 29 10:12 GMT
EUR/GBP Elliott Wave Analysis
Although last week's breach of previous support at 0.7117 adds creden... - May 28 10:49 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 29 12:00 GMT

Action Bias

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

Fundamental Analysis Reports

ECB Preview: Summer Front-Loading And QE Implementation Flexibility
May 29 10:44 GMT, by Danske Bank
We do not expect any new policy measures to be announced on Wednesday and believe that the statement will be broadly unchanged. We expect the ECB to repeat that risks surrounding the economic outlook...
Brazil's Q1 GDP In Focus, NZD Under Pressure
May 29 10:22 GMT, by Swissquote Bank SA
Today, Brazil's Q1 GDP release will be in focus ahead of a busy week as the Copom will announce monetary decision next Wednesday. On the data front, May's Manufacturing PMI and Trade Balance are due ...
European Market Update: European May CPI Data Showing More Evidence That ECB QE Program Is Showing Results, Greece Situation Remains A Drag On Sentiment
May 29 10:07 GMT, by Trade The News
The EUR/USD continued to crawl back from 1-month lows that were registered earlier in the week. The pair was trying to secure its third straight day of gains as the Greek bailout negotiations continu...
Greece Rumors Driving FX
May 29 09:05 GMT, by Swissquote Bank SA
Risk sentiment remains volatile on concerns over Greece debt repayments. Developments regarding a bailout for Greece will remain the primary driver of FX today. Asia equity markets were mixed with th...
Dollar Rally Slows, Waiting Better US Eco Data
May 29 07:45 GMT, by KBC Bank
Yesterday , there was no clear driver for USD trading. USD/JPY still set a new multi-year top, but the momentum of the overall USD rebound slowed. Today, the US eco data might be slightly USD support...
WTI Losses Continue As Commodity Linked Currencies Feel The Consequences
May 29 07:34 GMT, by ForexTime
While the headline attention continues to focus on Greece, investors could have found some outstanding opportunities to price weakness into those currencies linked to commodity prices yesterday. The ...
All Daily Fundamental Reports >>

Technical Analysis Reports

USDJPY - Sets Up To Correct Lower
May 29 10:35 GMT, by FXTechstrategy
USDJPY - Having capped its strength at the 124.45 level to close marginally higher on a rejection candle on Thursday, further weakness is expected. On the upside, resistance resides at the 124.50 lev...
USDJPY Could Fly Higher After Finding Support
May 29 09:20 GMT, by Elliott Wave Financial Service
USDJPY broke sharply to the upside in the past few days, clearly making an impulsive rise that is still incomplete, but as always pullbacks will occur. A new corrective set-back is here, a red wave 4...
EUR/USD Shows Minor Rebound From Monthly Low
May 29 08:42 GMT, by Dukascopy Swiss FX Group
The EUR/USD pair attempts to recover at least some part of losses that have occurred since May 19. On Thursday, the cross jumped above the 55-day SMA nearest resistance line and closed just below 1.0...
GBP/USD Still In Tight Range Between 1.52 And 1.54
May 29 08:32 GMT, by Dukascopy Swiss FX Group
On Thursday, the Cable edged down for the fourth day this week, although the fall was not as sharp as anticipated. GBP/USD managed to reach the weekly S2, which caused the pair to bounce back a bit a...
USD/JPY Struggles To Stay Above The 2007 High
May 29 08:31 GMT, by Dukascopy Swiss FX Group
USD/JPY extended its rally for another day, but at a much slower pace than before. However, the US Dollar did surge up to 124.47, almost reaching the weekly R3, but then was pushed back under the 200...
XAU/USD Trades With Moderate Bullish Gains
May 29 08:24 GMT, by Dukascopy Swiss FX Group
The precious metal has been trading flat for a second consecutive day on Thursday, while awaiting additional influencing factors. The bullion, however, made an attempt to slump below the weekly S2 at...
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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