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Mid-Day Report: Speculation on Greece Bailout Lifts Euro
Feb 09 14:05 GMT, by ActionForex.com
Euro's recovery extends further today as the common currency is lifted by speculation of a bailout package from EU for Greece. The speculation started when ECB President Trichet left Australia earlier than planned to attend a council meeting on Thurs...
Daily Report: Consolidations Continue, Euro Supported by Trichet Speculations
Feb 09 05:38 GMT, by ActionForex.com
Forex pairs are generally engaging in consolidations as markets digest recent moves. DOW closed below 10,000 psychological level at 9908 for the first time in three months but was kept above last week's low of 9835. Asian stocks are mixed which gold...
Mid-Day Report: Markets in Range as Investors Calmed Down
Feb 08 14:36 GMT, by ActionForex.com
Markets are generally in tight range today with dollar a bit softer. The pull back in dollar is so far mild while the recovery in crude oil and gold lack follow through buying. It looks as if risk aversion flows in the markets pull back from last wee...
Special Reports
Net Shorts In EUR Soared To Record High
Feb 08 07:48 GMT, by ActionForex.com
USD positions stayed in the positive territory for the second consecutive week, adding $3.55B to $3.81B in the week ended February 2. During the week, the largest changes came from declines in net longs in AUD and CAD, both being commodity currencies...
ECB: Continue to Wait and See
Feb 04 15:07 GMT, by ActionForex.com
As expected, the ECB kept its main refinancing rate unchanged at 1%. The introductory statement was very similar to the one released 3 weeks ago. The central bank believed current rates remain appropriate and risks to economic outlook are broadly bal...
ECB: No Urgent Needs to Tighten as Growth Seems to have Slowed Down
Feb 03 08:48 GMT, by ActionForex.com
The ECB will most likely announce to keep the main-refinancing rate at 1% at the meeting Thursday. Although economic recovery remains on track, there have been signs showing that the growth is losing steam. Therefore, there's no urgent need for the c...
EURUSD Technical Outlook
EUR/USD Mid-Day Outlook
Feb 09 14:24 GMT, by ActionForex.com
EUR/USD recovers further to as high as 1.3770 so far today and further rise could still be seen. Nevertheless, upside is still expected to be limited by 1.3852 support turned resistance and bring fall resumption. Below 1.3641 minor support will flip...
USDJPY Technical Outlook
USD/JPY Mid-Day Outlook
Feb 09 14:18 GMT, by ActionForex.com
No change in USD/JPY's outlook as consolidations from 88.57 is still in progress. Another recovery cannot be ruled out but upside is expected to be limited below 91.26 resistance and bring fall resumption. Below 88.57 will target 87.36 support first....
GBPUSD Technical Outlook
GBP/USD Mid-Day Outlook
Feb 09 14:20 GMT, by ActionForex.com
Intraday bias in GBP/USD remains neutral as consolidation from 1.5534 continues. Another rise cannot be ruled out but upside should be limited by 1.5849 resistance and bring fall resumption. Below 1.5534 will target 100% projection of 1.6875 to 1.582...
USDCHF Technical Outlook
USD/CHF Mid-Day Outlook
Feb 09 14:06 GMT, by ActionForex.com
USD/CHF's pull back from 1.0793 is still in progress and drops to as low as 1.0654 so far. Further decline could still be seen to 4 hours 55 EMA (now at 1.0612) but after all, downside is expected to be contained by 1.0497/0640 support zone and bring...
USDCAD Technical Outlook
USD/CAD Daily Outlook
Feb 09 05:51 GMT, by ActionForex.com
Intraday bias in USD/CAD remains neutral and consolidations from 1.0779 could still extended further. Deeper retreat to 4 hours 55 EMA (now at 1.0645) might be seen. But still, downside is expected to be contained by 1.0544 support and bring rally re...
AUDUSD Technical Outlook
AUD/USD Daily Outlook
Feb 09 05:54 GMT, by ActionForex.com
Intraday bias in AUD/USD remains neutral for the moment as consolidations from 0.8577 continues. Stronger recovery might be seen but after all, upside is expected to be by 38.2% retracement of 0.9327 to 0.8577 at 0.8864 and bring fall resumption. Bre...
EURJPY Technical Outlook
EUR/JPY Daily Outlook
Feb 09 08:32 GMT, by ActionForex.com
With 4 hours MACD crossed above signal line, an intraday low should be in place at 120.69 and some more consolidation should now be seen. Stronger recovery cannot be ruled out but upside should be limited by 124.73 support turned resistance and bring...
EUR/GBP Technical Outlook
EUR/GBP Daily Outlook
Feb 09 08:27 GMT, by ActionForex.com
At this point, intraday bias in EUR/GBP remains neutral. However, note that decisive break of 0.8792 resistance will be the first signal that the cross has already bottomed out at 0.8601 already. In such case, intraday bias will be turned to the upsi...
EUR/CHF Technical Outlook
EUR/CHF Daily Outlook
Feb 09 08:23 GMT, by ActionForex.com
Intraday bias in EUR/CHF remains neutral for the moment and more sideway trading should be seen above 1.4557 in near term. Stronger recovery cannot be ruled out, and EUR/CHF might climb to above 1.4820. But after all, we'd expect strong resistance ah...
GBPJPY Technical Outlook
GBP/JPY Daily Outlook
Feb 09 08:36 GMT, by ActionForex.com
With 4 hours MACD crossed above signal line, an intraday low should be in place in GBP/JPY at 138.23. Bias is turned neutral and stronger recovery might be seen. But still, upside is expected to be limited by 143.04 support turned resistance and brin...
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