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Jul 29 22:01 GMT

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Mid-Day Report: Dollar Mildly Firmer ahead of FOMC
Jul 29 13:14 GMT, by ActionForex.com
Dollar is generally firmer today, except versus sterling and swiss franc as markets await FOMC statement. Fed is expected to keep policies unchanged today. While there are expectations that Fed will finally start hiking interest rate, there are also talks that Fed might delay such first hike. Meanwhile, a main focus today is on whether Fed will hi...

Technical Outlook

GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains neutral for the moment. Another rise is mildly in favor 1.5450 minor support holds. Ab... - Jul 29 13:19 GMT
USD/CHF Mid-Day Outlook
Upside momentum in USD/CHF isn't very convincing. But with 0.9524 minor support intact, further rise is expected to 61.... - Jul 29 13:18 GMT
USD/JPY Mid-Day Outlook
Intraday bias in USD/JPY remains neutral for the moment. Break of 122.91 will indicate the rebound from 120.40 has comp... - Jul 29 13:16 GMT
EUR/USD Mid-Day Outlook
EUR/USD retreats mildly today but stays in range. Intraday bias remains neutral for the moment. As noted before, the co... - Jul 29 13:14 GMT

Special Reports

China Might Soon Widen Renminbi Further to Get Included in IMF's SDR
Jul 29 06:56 GMT
Chinese State Council released a statement titled 'Key steps to promote foreign...
Watch For Forward Guidance In July FOMC Statement
Jul 27 17:26 GMT
The upcoming FOMC meeting in July would be in focus, as the market watches clos...
China PMI Fell To Lowest Level In 15 Months
Jul 24 07:38 GMT
After HSBC terminated its PMI survey for China*, the newly renamed Caixin-Marki...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Stand aside
The greenback surged above last week's high at 0.9649, adding credence to our view that recent erratic rise from 0.9072 low is st... - Jul 28 15:38 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
Despite intra-day brief retreat to 1.5528, as the British pound found renewed buying interest there and has staged a strong rebou... - Jul 28 15:29 GMT
Trade Idea Wrap-up: EUR/USD - Buy at 1.1000
Euro's retreat after rising to 1.1130 yesterday suggests consolidation below this level would be seen and minor correction to pre... - Jul 28 15:26 GMT
Trade Idea Wrap-up: USD/JPY - Hold short entered at 123.55
Although the greenback rebounded after falling to 123.01 yesterday, as long as resistance at 123.84 holds, prospect of a retreat ... - Jul 28 15:22 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

GBP/USD Candlesticks and Ichimoku Analysis
Although the British pound retreated after rising to 1.5667 earlier, as re... - Jul 28 09:12 GMT
USD/CHF Candlesticks and Ichimoku Analysis
As the greenback has maintained a firm undertone, retaining our bullishnes... - Jul 28 08:50 GMT
EUR/USD Candlesticks and Ichimoku Analysis
Despite falling to 1.0809 last week, lack of follow through selling on bre... - Jul 27 08:14 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Hold short entered at 0.7130
As the single currency has retreated after rising to 0.7161 yesterday, suggesting consolidation below this level would be seen an... - Jul 28 14:10 GMT
Trade Idea: USD/CAD - Buy at 1.2900
As the greenback has retreated after rising to 1.3103 late last week and consolidation below this level would be seen for minor c... - Jul 28 14:04 GMT
Trade Idea: EUR/JPY - Buy at 136.25
As the single currency has maintained a firm undertone after staging a strong rebound from 134.33, suggesting near term bullishne... - Jul 28 09:47 GMT
Trade Idea: AUD/USD - Buy at 0.7285
As aussie has rebounded after intra-day marginal fall to 0.7257, suggesting consolidation above this level would be seen and reco... - Jul 28 09:40 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Cable's rebound after finding support at 1.5330 suggests near term up... - Jul 28 10:09 GMT
GBP/CHF Elliott Wave Analysis
The British pound found renewed buying interest at 1.4467 (just misse... - Jul 28 10:05 GMT
EUR/USD Elliott Wave Analysis
Although the single currency fell briefly below previous support at 1... - Jul 27 09:13 GMT
More Elliott Wave Weekly Analysis >>

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Last Updated: Jul 29 21:55 GMT

Action Bias

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

Fundamental Analysis Reports

Fed Statement Eyed For September Hike Clues
Jul 29 11:11 GMT, by MarketPulse
Despite a change in policy stance being extremely unlikely today, the FOMC announcement is going to be tracked extremely closely by investors and could drive large amounts of market volatility. Inves...
USD Range-Bound Ahead Of FOMC
Jul 29 10:27 GMT, by Swissquote Bank SA
Traders globally will be singularly focused on the FOMC meeting this afternoon. Given the importance of this event we anticipate FX markets will shift into tight ranges. The market is currently prici...
European Market Update: Quiet Trading Conditions Ahead Of Fed Decision
Jul 29 10:07 GMT, by Trade The News
USD putting in a mixed performance ahead of the Fed statement on Wed. There is concern that recent Greece and China troubles might put the Fed off any immediate rate hike. Dealers noting that a sign ...
Gold Steadies With Eyes On Fed Meeting Outcome
Jul 29 09:34 GMT, by ICN.com
Precious-Gold steadied on Wednesday ahead of the release of Fed statement, as investors aim to get clues about the interest rates and the strength of recovery. The yellow metal hit a high of $1099.26...
Euro Inches Up As Greece-Creditors Negotiations Continue
Jul 29 09:32 GMT, by ICN.com
The euro inched up against the U.S. dollar on Wednesday as the talks between Greece and its creditors continue as Athens tries to release its third bailout. Delia Velculescu, the IMF's lead negotiato...
Fed Statement: Markets Looking More Positive Ahead Of FOMC
Jul 29 08:49 GMT, by ForexTime
The combination of some stabilization in the Shanghai Composite Index after recent intense pressures and a rebound in the commodity markets has provided the platform for major indices to end a consec...
All Daily Fundamental Reports >>

Technical Analysis Reports

Can the Fed Disrupt the GBPUSD Rally?
Jul 29 16:58 GMT, by Forex.com
Ahead of this evening's FOMC meeting, the pound is the strongest performer in the G10 FX space. Sterling is still benefitting from the decent GDP figure released on Tuesday, which has triggered a 150...
Could the Fed Push USDJPY Above the "Kuroda Line"?
Jul 29 15:41 GMT, by Forex.com
It's been a quiet overnight session for most major currencies as market participants refrained from placing large trades ahead of today's FOMC meeting. As we noted yesterday, the central bank is unli...
USDCAD Is Retracing Towards POC
Jul 29 11:08 GMT, by Admiral Markets
US FED will release the statement today, without any press conference and we will probably have some range-bound market till FED statement. Expectations towards rate hike are rising and we could see ...
Today's Market Outlook
Jul 29 09:18 GMT, by Windsor Brokers Ltd
The Euro continues to trade between daily 55SMA, where recent rallies were capped at 1.1128 and strong lower boundary at 1.10 zone, where daily 20SMA, Fibonacci 38.2% of 1.0807/1.1128 upleg and daily...
Forex Technical Analysis
Jul 29 09:11 GMT, by DeltaStock Inc.
EUR/USD The support zone around 1.1020 is still intact, but an eventual break there will extend the corrective pullback towards 1.0925, before renewal of the general upmove to 1.1216.
USDJPY: Bulls Are Looking Towards 126.00 Level
Jul 29 09:05 GMT, by Elliott Wave Financial Service
USDJPY has turned down from 124.00-124.40 area last week as expected, where we highlighted end of an impulsive wave (a). As such, a downward retracement should be corrective wave (b), maybe already f...
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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