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May 06 04:27 GMT

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Daily Report: Kiwi Pressured after Weak Employment Data
May 06 03:40 GMT, by ActionForex.com
New Zealand dollar tumbles in Asian session after weaker than expected employment data. Unemployment rate came in at 5.8% in Q1, unchanged from upwardly revised 5.8% in Q4. That's notably higher than expectation of a fall to 5.5%. Employment growth slowed to 0.7% qoq, inline with expectation. Private sector labor cost grew 0.3% qoq, below expectat...

Technical Outlook

EUR/USD Daily Outlook
Intraday bias in EUR/USD remains neutral for the moment. Overall, price actions form 1.0461 are treated as a consolidat... - May 06 04:06 GMT
GBP/USD Daily Outlook
A temporary low is in place at 1.5088 and intraday bias in GBP/USD is turned neutral first. At this point, we're favori... - May 06 04:03 GMT
USD/CHF Daily Outlook
USD/CHF's fall from 1.0127 resumes by taking out 0.9277. Intraday bias is back on the downside for 100% projection of 1... - May 06 03:55 GMT
USD/JPY Daily Outlook
USD/JPY's recovery was limited at 120.50, below 120.83 resistance and retreated. Overall, the pair is possibly still bo... - May 06 03:52 GMT

Special Reports

RBA Cut Rate To 2%, Fuelling Of Housing Prices Inevitable
May 05 07:45 GMT
RBA cut the cash rate by -25 bps to 2% in May, after pausing over the past 2 mo...
RBA To Cut In May
May 04 02:30 GMT
Following the previous cut in February, we expect the RBA would trim the cash r...
RBNZ Signaled Easing Bias
Apr 30 03:49 GMT
Kiwi plunged, erasing the gains made over the past 2 days after release of RBNZ...
All Special Reports >>

Markets Snapshot

Action Insight Newsletter
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Candlesticks Intraday Trade Ideas

Trade Idea Wrap-up: USD/CHF - Stand aside
Although current break of previous support at 0.9277 (last week's low) signals recent decline from 1.0129 top has resumed and bea... - May 05 15:21 GMT
Trade Idea Wrap-up: GBP/USD - Stand aside
As the British pound has rebounded after intra-day marginal fall to 1.5089, suggesting consolidation above this level would be se... - May 05 15:17 GMT
Trade Idea Wrap-up: EUR/USD - Buy at 1.1135
Despite intra-day fall to 1.1066, the subsequent rebound suggests an intra-day low has possibly been formed there and consolidati... - May 05 15:14 GMT
Trade Idea Wrap-up: USD/JPY - Hold short entered at 120.35
As the greenback has retreated after intra-day brief rise to 120.51, suggesting consolidation below this level would be seen with... - May 05 15:09 GMT
More Candlesticks Trade Ideas >>

Canadlesticks and Ichimoku Weekly Analysis

GBP/USD Candlesticks and Ichimoku Analysis
Despite last week's rise to 1.5498, the subsequent selloff suggests first ... - May 05 08:48 GMT
USD/CHF Candlesticks and Ichimoku Analysis
The greenback did break below previous support at 0.9481 last week and fel... - May 05 08:27 GMT
EUR/USD Candlesticks and Ichimoku Analysis
Last week's breach of previous resistance at 1.1052 signals temporary low ... - May 04 09:28 GMT
More Ichimoku Weekly Analysis >>

Elliott Wave Daily Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.7300
Euro's retreat after rising to 0.7420 on Friday has retained our view that further consolidation below this level would be seen a... - May 05 14:34 GMT
Trade Idea: USD/CAD - Stand aside
Current selloff dampened our near term bullishness and suggests the rebound from 1.1945 (last week's low) has ended at 1.2205 and... - May 05 14:32 GMT
Trade Idea: EUR/JPY - Buy at 132.45
Euro's retreat after last week's rally to 135.29 suggests temporary top has been formed there and consolidation below this level ... - May 05 09:36 GMT
Trade Idea: AUD/USD - Sell at 0.7960
Despite intra-day brief fall to 0.7788, as aussie has rebounded after finding support there, suggesting consolidation would be se... - May 05 09:29 GMT
More Elliott Wave Trade Ideas >>

Elliott Wave Weekly Analysis

GBP/USD Elliott Wave Analysis
Although cable surged last week to as high as 1.5498, the subsequent ... - May 05 10:07 GMT
GBP/JPY Elliott Wave Analysis
Despite last month's anticipated decline174.90, the subsequent strong... - May 05 09:58 GMT
USD/JPY Elliott Wave Analysis
Despite last week's brief fall to 118.50, as the greenback found rene... - May 04 10:52 GMT
More Elliott Wave Weekly Analysis >>

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Currency Heat Map (Daily)

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Last Updated: May 06 05:20 GMT

Action Bias

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

Fundamental Analysis Reports

USD/CAD Loonie Shrugs Off Largest Canadian Trade Deficit
May 06 02:14 GMT, by MarketPulse
The Canadian dollar continues to advance versus the U.S. dollar even as both nations delivered worse than expected trade deficits. The Canadian trade balance was expected to improve from the disappoi...
Morning View: Yes, They Cut
May 06 01:56 GMT, by Vantage FX
In a widely expected move, the RBA yesterday cut rates to a record low 2.00%. What was slightly less expected was the price action following the release (and for once it wasn't dodgy front runners!)....
US ISM Non-Manufacturing Index Unexpectedly Improved in April
May 05 15:24 GMT, by RBC Financial Group
The pace of growth in US non-manufacturing sectors accelerated in April 2015, as indicated by the ISM non-manufacturing index increasing to 57.8 from 56.5 in March. The pickup in April was in contras...
US Trade Deficit Widened Significantly in March
May 05 15:23 GMT, by RBC Financial Group
The US trade deficit widened to $51.4 billion in March 2015 from a revised $35.9 billion shortfall (previously reported as -$35.4 billion) in February. Market expectations had been for a much smaller...
Canada's Trade Deficit Hit Record in March as Export Prices Fell
May 05 15:21 GMT, by RBC Financial Group
The Canadian merchandise trade balance posted a $3.0 billion deficit in March, which was the largest monthly deficit on record, following a downwardly revised $2.2 billion shortfall (was $1.0 billion...
USD Softens on Trade Deficit Announcement
May 05 14:15 GMT, by ForexTime
The USD has softened once again following its trade deficit being announced even wider than expected. As a result, I am now expecting possible revisions to GDP forecasts in the near future. Prior to ...
All Daily Fundamental Reports >>

Technical Analysis Reports

Daily Technical Analysis
May 06 03:32 GMT, by FX Instructor
The EURUSD attempted to push lower yesterday bottomed at 1.1065 but whipsawed to the upside topped at 1.1222. The bias is bullish in nearest term testing 1.1288. Immediate support is seen around 1.11...
Market Morning Briefing
May 06 03:32 GMT, by Kshitij Consultancy Services
Euro (1.1192) has almost been flat yesterday and is trading slightly higher now. We may expect some sideways movement for a couple of sessions in the 1.128-1.1099 region. While the German yields cont...
The Daily Forecaster: AUDUSD
May 06 02:22 GMT, by FX-Forecaster
The expected correction higher was towards the maximum - noting the 0.7955-68 area. To actually confirm the high is in place, we need a break below 0.7860 at least. AS long as this develops it should...
Australia 200 – Threatens To Remain Below Key 5800 Level
May 06 02:19 GMT, by MarketPulse
To start this new week the Australia 200 index has continued on from last week by trading right around the key 5800 level. After making another solid run at the key 6000 level earlier last week but a...
AUD/USD – Surges Higher But Runs Into Resistance At 0.7950
May 06 02:16 GMT, by MarketPulse
In the last 24 hours the Australian dollar has surged higher however it has run into resistance right around 0.7950 before easing slightly lower in recent hours. After a solid start to last week, the...
AUDUSD - Rally Warns Of 0.8000 Retest
May 06 02:07 GMT, by FXTechstrategy
AUDUSD - With the pair turning off its intra day low at 0.7785 level to strengthen strongly on a rally today, risk could be building for a retest of the 0.8000 level. On the downside, support resides...
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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