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Mid-Day Report: Sterling Rounds on Record Producer Price Inflation
May 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 PPI
May 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...
Weekly Review and Outlook: Yen Surges Broadly as Risk Aversion Fights Back
May 10 20:33 GMT, by ActionForex.com
Risk aversion was the main driving force towards the end of last week as markets witnessed a turn in the global equity markets as well as sharp rebound in the Japanese yen. While bad corporate results and the concern of continuation of the credit mar...
EURUSD Technical Outlook
EUR/USD Mid-Day Outlook
May 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...
USDJPY Technical Outlook
USD/JPY Mid-Day Outlook
May 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...
GBPUSD Technical Outlook
GBP/USD Mid-Day Outlook
May 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...
USDCHF Technical Outlook
USD/CHF Mid-Day Outlook
May 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...
USDCAD Technical Outlook
USD/CAD Mid-Day Outlook
May 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...
AUDUSD Technical Outlook
AUD/USD Mid-Day Outlook
May 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...
EURJPY Technical Outlook
EUR/JPY Daily Outlook
May 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...
GBPJPY Technical Outlook
GBP/JPY Daily Outlook
May 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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