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Oct 21 13:33 GMT

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Mid-Day Report: Financial Markets Lacked Direction, Forex in Consolidation
Oct 21 12:42 GMT, by ActionForex.com
The financial markets lacked a clear direction today so far. Japanese Nikkei gave up 15000 level again and dropped -2.03% to close at 14804.28. Nonetheless, European indicates are broadly higher with FTSE up 0.85%, DAX up 1% and CAC up 1.5% at the time of writing. US stock futures point to higher open. The currency markets are rather steady today....

Technical Outlook

EUR/USD Mid-Day Outlook
Outlook in EUR/USD is unchanged. The recovery from 1.2500 might extend higher. But we'd expect strong resistance from 1... - Oct 21 12:55 GMT
GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains neutral for the moment. As long as 1.6226 resistance holds, further fall is still expe... - Oct 21 12:52 GMT
USD/CHF Mid-Day Outlook
No change in USD/CHF's outlook. We'd still expect strong support from from 0.9300/9395 support zone to complete the cor... - Oct 21 12:49 GMT
USD/JPY Mid-Day Outlook
USD/JPY faced some resistance from 107.49 and retreated. Intraday bias remains neutral for the moment. Deeper fall cann... - Oct 21 12:43 GMT

Special Reports

Decelerated Chinese Growth Calls For More Easing
Oct 21 09:06 GMT
China's GDP growth exceeded market expectations in 3Q14 but the dataflow for Se...
RBA Reiterated A Period Of Stable Interest Rates
Oct 21 07:33 GMT
The RBA minutes for the October sent little surprise and the message was largel...
Fed's Beige Book Described US Growth As 'Modest to Moderate'
Oct 16 05:38 GMT
The Beige Book prepared by the Minneapolis Fed, covering the period before Octo...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Update: USD/CHF - Sell at 0.9480
The greenback has rebounded after holding above minor support at 0.9396, retaining our view that further consolidation would be s... - Oct 21 10:11 GMT
Trade Idea Update: GBP/USD - Buy at 1.6060 or sell at 1.6220
Although cable has risen again today, loss of near term upward momentum should prevent sharp move beyond 1.6190-00 and bring retr... - Oct 21 10:07 GMT
Trade Idea Update: EUR/USD - Stand aside
Despite intra-day rebound to 1.2840, as the single currency has retreated after faltering below indicated resistance at 1.2845-50... - Oct 21 10:05 GMT
Trade Idea Update: USD/JPY - Hold long entered at 106.40
Although the greenback slipped again after meeting renewed selling interest just above 107.00 level, if our view that low has bee... - Oct 21 10:00 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

GBP/USD Candlesticks and Ichimoku Analysis
Although the British pound fell again and hit a low of 1.5875 last week, t... - Oct 21 09:43 GMT
USD/CHF Candlesticks and Ichimoku Analysis
Although the greenback slipped last week to as low as 0.9360, as the pair ... - Oct 21 09:38 GMT
EUR/USD Candlesticks and Ichimoku Analysis
The single currency found renewed buying interest just above 1.2600 level ... - Oct 20 10:03 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/JPY - Stand aside
Although the single currency has retreated again after faltering below yesterday's high of 137.01 and consolidation would be seen... - Oct 21 09:35 GMT
Trade Idea: AUD/USD - Sell at 0.8845
Although aussie edged higher after rebounding from 0.8686 and near term upside risk remains for marginal gain, as outlook is stil... - Oct 21 09:30 GMT
Trade Idea: EUR/GBP - Sell at 0.7980
Although the single currency rallied to 0.8047 last week, the subsequent retreat after faltering below resistance at 0.8066 sugge... - Oct 20 14:31 GMT
Trade Idea: USD/CAD - Buy at 1.1100
Despite last week's rise to 1.1386, the subsequent retreat suggests consolidation would be seen and pullback to 1.1190-00 cannot ... - Oct 20 14:26 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Although the British pound slipped again to as low as 1.5875 last wee... - Oct 21 10:59 GMT
GBP/CHF Elliott Wave Analysis
The British pound only recovered to 1.5470 before falling sharply in ... - Oct 21 10:54 GMT
USD/JPY Elliott Wave Analysis
Although the greenback slipped again last week to as low as 105.20, t... - Oct 20 11:09 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: Oct 21 13:25 GMT

Action Bias

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

Fundamental Analysis Reports

Central Banks in View After China Growth Surprise Fails to Lift Markets
Oct 21 11:46 GMT, by MarketPulse
Earlier today China released the official Gross Domestic Product for the third quarter. It came in at 7.3% a slight improvement over the expected 7.2% but still the lowest print since 2009. The gain ...
USD/JPY - Yen Pressing on Greenback Ahead of Japanese Trade Balance
Oct 21 11:45 GMT, by MarketPulse
The Japanese yen is stable on Tuesday, as USD/JPY trades in the high-106 range in the European session. In Japan, All Industries Activities posted another decline, coming in at -0.1%. Later in the da...
Gold Prices Close To 6-Week Highs
Oct 21 11:12 GMT, by MarketPulse
Gold is steady on Tuesday, as the spot price is $1248.16 per ounce in the European session. The metal is trading just shy of $1249.71, which marks a 6-week high. Today’s sole release on the calendar ...
China Economic Growth Slows To A Five-Year Low
Oct 21 11:07 GMT, by ForexTime
The big headline of the day is that China's economy expanded at a five year low of 7.3%. This figure is below Beijing's 7.5% target and the slower growth will likely raise fears over global economic ...
EUR/USD – Euro Under Pressure, Slips Under 1.28
Oct 21 10:35 GMT, by MarketPulse
EUR/USD has posted slight losses on Tuesday, as the pair pushed into 1.28 territory but was unable to consolidate. It’s a very quiet day on the release front, with no Eurozone events. In the US, toda...
European Market Update: Europe Endures Another Quiet Session As Analysts' Measure Up Chinese GDP Data
Oct 21 10:25 GMT, by Trade The News
The USD/JPY moved off its Asian session lows of 106.30 area as the Nikkei-225 Index gave back half of Monday's gains. The yen firmed after a Japanese official played down recent speculation over the ...
All Daily Fundamental Reports >>

Technical Analysis Reports

EUR/USD Drops on ECB Bond Buying Report, Downward Trend May Have Resumed
Oct 21 11:48 GMT, by Forex.com
The EUR/USD has dropped sharply in the past hour or so and is in danger of resuming its long-term downward trend. Not only has it come under pressure from technical selling, but there's also some fun...
Forex Technical Analysis
Oct 21 10:29 GMT, by DeltaStock Inc.
Yesterday's slide broke through 106.70 support, reaching local low at 106.23. My outlook here is bullish, for a rise through 106.70, en route to 107.50 and 108.40.
Technical Analysis for Crosses
Oct 21 09:39 GMT, by ICN.com
The pair retested the significant support of intraday trading 172.00, whereas stabilizing above it is the main catalyst to extending the expected upside move for the coming period targeting 173.65 an...
Technical Analysis for Major Currencies
Oct 21 09:38 GMT, by ICN.com
The pair managed to move to the upside above 1.2780 and stabilized above it, as trading above it is positive and could extend the upside move towards 1.3070 later, but the positive outlook should be ...
Today's Market Outlook
Oct 21 08:59 GMT, by Windsor Brokers Ltd
The Euro probes above 1.28 barrier, on a fresh strength, off yesterday's low at 1.2730. Near-term price action continues to trade in choppy consolidation, entrenched within 1.2700/1.2840 range. Posit...
USDCAD Elliott Wave Analysis: Correction Within Uptrend!?
Oct 21 08:57 GMT, by Elliott Wave Financial Service
USDCAD is reversing from the highs but it can be just another deep corrective retracement. Ideally price turned down into wave ii) that may find the low at 1.1180-1.1200 zone. Keep in mind that as lo...
All Daily Technical Reports >>

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Long Term Forecasts

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...
USD/CAD - 2013 In Review
Jan 02 02:23 GMT, by MarketPulse
The Canadian dollar looked sharp as we began 2013, but struggled badly late in the year, as the cur...
All Long Term Forecasts >>
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