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May 22 06:39 GMT

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Daily Report: Dollar Softer on Fedspeaks, Bernanke Awaited
May 22 04:30 GMT, by ActionForex.com
Dollar is a touch weaker against euro as markets enter into an eventful day. Comments from Fed officials suggested that Fed could refrain from tapering the asset purchase for a while. St. Louis Fed Bullard noted that inflation is pretty low in US and he can't envision a good case to be made for tapering unless inflation is turning around. He n...

Technical Outlook

AUD/USD Daily Outlook
Intraday bias in AUD/USD remains neutral for the moment and stronger recovery could be seen to 4 hours 55 EMA (now at 0... - May 22 05:21 GMT
USD/CAD Daily Outlook
Despite spiking higher to 1.0321, there was no follow through buying in USD/CAD. Intraday bias stays neutral for some m... - May 22 05:04 GMT
EUR/USD Daily Outlook
EUR/USD's recovery from 1.2796 continued and is pressing 4 hours 55 EMA for the moment. Strong recovery might be seen b... - May 22 05:03 GMT
USD/CHF Daily Outlook
Intraday bias in USD/CHF stays neutral as consolidation from 0.9760 extends. As long as 0.9578 support holds, further r... - May 22 04:57 GMT

Special Reports

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...
RBA Cut Rate To Record Low
May 07 05:49 GMT
The RBA cut the cash rate by -25 bps to 2.75% in May citing that domestic growt...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Hold long entered at 0.9670
Despite intra-day rebound to 0.9751, current sharp retreat signals recent upmove is not ready to resume yet and further consolida... - May 21 16:01 GMT
Trade Idea Wrap-up: GBP/USD - Sell at 1.5245
Despite intra-day resumption of decline to 1.5113 (exactly as indicated level of 50% projection of 1.5593-1.5173 measuring from 1... - May 21 15:57 GMT
Trade Idea Wrap-up: EUR/USD - Stand aside
Despite intra-day retreat to 1.2841, current rebound has retained our view that further consolidation above last week's low of 1.... - May 21 15:50 GMT
Trade Idea Wrap-up: USD/JPY - Sell at 102.65
Despite intra-day rebound to 102.89, current retreat has retained our view that further consolidation below last week's high of 1... - May 21 15:43 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

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
USD/CHF Candlestick and Ichimoku Analysis
The greenback continued to find good support just above the Tenkan-Sen and... - May 21 09:43 GMT
EUR/USD Candlesticks and Ichimoku Analysis
The single currency continued to head soutyh last week and price finally b... - May 20 10:28 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Stand aside
As the single currency has rebounded again after brief retreat, dampening our bearishness and test of resistance at 0.8516 (last ... - May 21 15:10 GMT
Trade Idea: USD/CAD - Buy at 1.0260
As the greenback has risen again after retreating to 1.0217 yesterday (we recommended to buy at 1.0200), suggesting recent upmove... - May 21 14:44 GMT
Trade Idea: EUR/JPY - Buy at 131.35
As the single currency staged a strong rebound after yesterday's brief fall to 130.93, suggesting consolidation within 103.93-132... - May 21 08:45 GMT
Trade Idea: AUD/USD – Sell at 0.9915
Aussie's recovery after last week's selloff to 0.9711 has retained our view that minor consolidation above this level would be se... - May 21 08:41 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
The British pound only recovered to 1.5323 (we recommended to sell at... - May 21 11:01 GMT
GBP/JPY Elliott Wave Analysis
Although the British pound moved higher again to as high as 156.75 ea... - May 21 10:54 GMT
USD/JPY Elliott Wave Analysis
The greenback only eased to 98.58 before finding renewed buying inter... - May 20 11:03 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: May 22 07:30 GMT

Action Bias

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

Fundamental Analysis Reports

The BoJ Holds Firm
May 22 05:38 GMT, by Forex.com
The Bank of Japan elected not to adjust its current easing plans. Instead, the bank retained its commitment to its plan announced in April to increase the supply of money in the economy by 60-70 tril...
Asian Market Update
May 22 05:37 GMT, by Trade The News
Asian equity markets are mixed and contained within tight ranges ahead of the critical address by Fed Chairman Bernanke before the Joint Economic Committee in Congress on Wednesday morning. Bank of J...
EUR/USD: Euro Trading Lower In The Asian Session
May 22 05:15 GMT, by GCI Financial
The pair is expected to find support at 1.2860, and a fall through could take it to the next support level of 1.2800. The pair is expected to find its first resistance at 1.2960, and a rise through c...
GBP/USD: Pound Slipped As Inflation Cooled In April
May 22 05:15 GMT, by GCI Financial
The pair is expected to find support at 1.5087, and a fall through could take it to the next support level of 1.5023. The pair is expected to find its first resistance at 1.5239, and a rise through c...
USD/CAD: Canadian Retail Sales Data Eyed
May 22 05:14 GMT, by GCI Financial
The pair is expected to find support at 1.0234, and a fall through could take it to the next support level of 1.0197. The pair is expected to find its first resistance at 1.0316, and a rise through c...
AUD/USD: Aussie Trading Lower In The Asian Session
May 22 05:13 GMT, by GCI Financial
The pair is expected to find support at 0.9745, and a fall through could take it to the next support level of 0.9701. The pair is expected to find its first resistance at 0.9838, and a rise through c...
All Daily Fundamental Reports >>

Technical Analysis Reports

Daily FX Report
May 22 06:28 GMT, by Varengold Bank
Federal Reserve Bank of New York President William C. Dudley said he has not decided whether the Fed's next move should be to enlarge or shrink its bond buying program as he called for a fresh look a...
Daily Technical Analysis
May 22 05:57 GMT, by FX Instructor
The EURUSD attempted to push lower yesterday bottomed at 1.2840 but whipsawed to the upside and hit 1.2937 earlier today. Price has been moving sideways between 1.2935 – 1.2800. I still prefer a bear...
EUR/USD Cheered By Fed Reassurance
May 22 04:55 GMT, by ZIFX.com
On Tuesday Euro/Dollar increased with almost 95 pips. The European currency appreciated from 1.2840 to 1.2934 yesterday, matching the positive money flow sentiment at around +14%, closing the day at ...
EUR/USD - Inverted Head And Shoulders Vs. Flag
May 22 04:33 GMT, by FXTimes
The EUR/USD has been bearish in the short-medium term since retreating from the May 1 high of 1.3241. This week however, the market has given EUR/USD support from about 1.28 slowly edging up above 1....
Foreign Exchange Market Commentary
May 22 03:50 GMT, by HY Markets
The EURO closed higher due to short covering on Tuesday and the highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI re...
Market Morning Briefing
May 22 03:33 GMT, by Kshitij Consultancy Services
The Euro (1.2925) has seen a move above 1.29 and now may look to target 1.30 which also happens to be the 200 day moving average for the Euro. Supports have shifted higher to 1.2880. Dollar-Swiss (0....
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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