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Market Overview |
Mid-Day Report: Sterling Rounds on Record Producer Price InflationMay 12 13:16 GMT, by ActionForex.com The British Pound stages a strong rebound across the board today after strong producer price inflation data prompted further speculation that BoE won't speed up the pace of policy easing. PPI input accelerated sharply to 23.3% yoy in Apr, beating exp...
Daily Report: Sterling Mixed ahead of PPIMay 12 07:55 GMT, by ActionForex.com Markets are lacking a consensus view on the Sterling at this moment as a string of important economic is scheduled to be released this week, starting with PPI inflation report today. While the pound edges lower against the greenback, the downside mom...
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EURUSD Technical Outlook |
EUR/USD Mid-Day OutlookMay 12 13:24 GMT, by ActionForex.com Outlook in EUR/USD remains unchanged. TOuching of 1.5387 minor resistance argues recovery from 1.5284 could have completed at 1.5489. Intraday bias is mildly on the downside for retest of 1.5284 low. Break will confirm whole fall from 1.6019 has resu...
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USDJPY Technical Outlook |
USD/JPY Mid-Day OutlookMay 12 13:33 GMT, by ActionForex.com USD/JPY's recovery extends to 104.04 in early US session. Further downside is still mildly in favor as long as 104.10 resistance holds. As mentioned before, bearish divergence condition in 4 hours MACD and RSI argues the rebound from 95.77 has topped...
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GBPUSD Technical Outlook |
GBP/USD Mid-Day OutlookMay 12 13:22 GMT, by ActionForex.com Cable recovers strongly after edging lower to 1.9442 earlier today. As mentioned before, even though downside momentum seems diminishing, intraday bias remains on the downside as long as 1.9621 resistance holds. Prior break of 1.9599 support indicate...
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USDCHF Technical Outlook |
USD/CHF Mid-Day OutlookMay 12 13:35 GMT, by ActionForex.com USD/CHF's recovery and touching of 1.0498 minor resistance suggests that an intraday low is in place. Outlook remains neutral for the moment. Nevertheless, with bearish divergence condition in 4 hours MACD and RSI, rise from 0.9995 could have already...
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USDCAD Technical Outlook |
USD/CAD Mid-Day OutlookMay 12 12:54 GMT, by ActionForex.com The flag like consolidation from 1.0326 continues as USD/CAD has another dip today. After all, there is no indication of completion of such consolidation yet. Though, downside is expected to be contained well above 0.9709 support and bring rally resu...
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AUDUSD Technical Outlook |
AUD/USD Mid-Day OutlookMay 12 12:49 GMT, by ActionForex.com No change in AUD/USD's outlook as consolidation continues. With 0.9339 support still holds, price actions from 0.9505 is treated as pull back to rise from 0.9275 only. As mentioned before, correction from 0.9541 should have completed with three waves...
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EURJPY Technical Outlook |
EUR/JPY Daily OutlookMay 12 10:21 GMT, by ActionForex.com EUR/JPY recovers after decline from 164.97 just met 100% projection of 164.97 to 160.58 from 163.09 at 158.70 and was contained slightly above mentioned 158.24 support (50% retracement of 151.71 to 164.97 at 158.34). 4 hours MACD's cross above signal...
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GBPJPY Technical Outlook |
GBP/JPY Daily OutlookMay 12 10:30 GMT, by ActionForex.com GBP/JPY's strong recovery today, with 4 hours MACD crossing above signal line and touching of 203.31 minor resistance, indicates that an intraday low is in place. Outlook is turned neutral for the moment and further sideway consolidation could be see...
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