Forex news and insightful analysis reports from ActionForex.com on spot forex market, covering EUR/USD, USD/JPY, GBP/USD & USD/CHF, and much more. http://www.actionforex.com Thu, 18 Mar 2010 16:48:08 +0100 FeedCreator 1.7.2 http://www.actionforex.com/images/M_images/aflogo.jpg http://www.actionforex.com Forex news and insightful analysis reports from ActionForex.com on spot forex market, covering EUR/USD, USD/JPY, GBP/USD & USD/CHF, and much more. http://www.actionforex.com/action-insight/gbpusd-outlook/gbp%10usd-mid%11day-outlook-20100318109181/ With 4 hours MACD crossed below signal line, intraday bias in GBP/USD is turned neutral. While another rise cannot be ruled out, we'd expect strong resistance from 38.2% retracement of 1.6456 to 1.4783 at 1.5422 to conclude the correction from 1.4783 and bring fall resumption. Break of 1.4977 will flip... Thu, 18 Mar 2010 09:43:44 +0100 http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-mid%11day-outlook-20100318109180/ Another fall could still be seen in USD/CHF with 1.6034 resistance intact. However, we'd expect strong support from rising trend line (now at 1.0476) to conclude the correction from 1.0897 and bring rally resumption. Above 1.0634 will argue that such correction is finished and should flip intraday bias back to... Thu, 18 Mar 2010 09:40:18 +0100 http://www.actionforex.com/action-insight/usdjpy-outlook/usd%10jpy-mid%11day-outlook-20100318109179/ USD/JPY dips to as low as 89.76 earlier today but remains supported above 89.62 cluster support (50% retracement of 88.13 to 91.08 at 89.60). Rise from 88.13 is still expected to continue. Above 91.08 will bring rally resumption to 92.14 resistance next. However, note that decisive break of 89.62 cluster... Thu, 18 Mar 2010 09:37:47 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-gbp%10usd-%11-sell-at-1.5445-o.c.o.-buy-at-1.5140-20100318109176/ Cable’s intra-day sideways trading is expected to continue and although retracement to the Kijun-Sen (now at 1.5180) cannot be ruled out, reckon 1.5125/30 (approx. 50% Fibonacci retracement of 1.4873 to 1.5382) would attract renewed buying interest and bring another rally later. Above resistance at 1.5382 (yesterday’s high) would bring stronger... Thu, 18 Mar 2010 09:13:48 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-usd%10chf-%11-sell-at-1.0655-20100318109175/ Despite falling marginally to 1.0507 yesterday, the subsequent rebound from there suggests minor low is in place and as price just broke above the Kijun-Sen on intra-day bounce to 1.0600, suggesting correction to 1.0642 would be seen, however, renewed selling interest should emerge around 1.0656-57 (50% Fibonacci retracement of 1.0805... Thu, 18 Mar 2010 09:12:35 +0100 http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-mid%11day-outlook-20100318109174/ EUR/USD drops to as low as 1.3647 today and remains soft. As noted before, break of 1.3641 minor support will indicate that consolidations from 1.3443 has completed at 1.3817 already. In such case, intraday bias will be flipped to the downside for retesting 1.3435 low. Break will confirm that whole... Thu, 18 Mar 2010 09:10:04 +0100 http://www.actionforex.com/action-insight/market-overview/mid%11day-report%3a-euro-remains-soft-on-greece-uncertainty-20100318109173/ Euro remains pressured by the uncertain on who will provide financial aids to Greece to resolve its debt problems. There are rumors that the situation has become increasingly pessimistic for concrete assistance at next EU summit on March 25 and Greece may eventually need to seek IMF assistance during Easter.... Thu, 18 Mar 2010 09:09:06 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-eur%10usd-%11-stand-aside-20100318109172/ Despite early marginal rise to 1.3819, the subsequent sharp retreat from there suggests the rise from 1.3433 has formed a temporary top and mild downside bias is seen for correction to 1.3639 (previous support and the current level of the Ichimoku cloud top), however, only a break below the flat... Thu, 18 Mar 2010 09:03:44 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-usd%10jpy-%11-hold-long-entered-at-90.20-20100318109171/ Despite intra-day fall to 89.75, as dollar has rebounded after holding above support at 89.63, retaining our near term bullishness and as long as this intra-day support holds, gain to minor resistance at 90.72/74 is seen and break there would signal pullback from 91.09 is over, bring resumption of the... Thu, 18 Mar 2010 09:02:36 +0100 http://www.actionforex.com/action-insight/elliott-wave-trades/trade-idea%3a-eur%10jpy-%11-buy-at-122.10-20100318109155/ Although the stronger-than-expected retreat signals a temporary top has been formed at 125.36 and further consolidation would be seen, reckon downside would be limited to 122.51 (50% Fibonacci retracement of 119.66 to 125.36) and 121.84 (61.8% Fibonacci retracement) would hold, bring another rise later. Above 124.25/30 would suggest correction from... Thu, 18 Mar 2010 05:17:41 +0100 http://www.actionforex.com/action-insight/elliott-wave-trades/trade-idea%3a-aud%10usd-%11-buy-at-0.9100-20100318109154/ Despite yesterday's rise to 0.9253, as the Australian dollar has retreated from there, suggesting minor consolidation would take place, however, renewed buying interest should emerge above this week's low at 0.9096 and bring another rally in wave iii from 0.8578 to 0.9294 (100% projection of wave i) would be seen,... Thu, 18 Mar 2010 05:16:09 +0100 http://www.actionforex.com/action-insight/elliott-wave-analysis/eur%10cad-elliott-wave-analysis-20100318109151/ Recent wave (C) selloff is still in progress and bearishness remains for weakness to indicated downside target at 1.3773 (100% projection of 1.7509 to 1.5186 measuring from 1.6096) and later to 1.3687 (100% projection of wave (A) from wave (B)). Thu, 18 Mar 2010 05:00:20 +0100 http://www.actionforex.com/action-insight/elliott-wave-analysis/usd%10cad-elliott-wave-analysis-20100318109150/ The breach of indicated support at 1.0206 signals only wave iii has ended there and the subsequent consolidation from there is now labeled as a-b-c wave iv correction which ended at 1.0781 and wave v is now in progress for weakness to 1.0005 (76.4% Fibonacci retracement of 0.9059 to 1.3066).... Thu, 18 Mar 2010 04:59:06 +0100 http://www.actionforex.com/action-insight/canadlesticks-and-ichimoku-analysis/eur%10chf-candlesticks-and-ichimoku-analysis-20100318109142/ The single currency finally resumed recent decline as suggested and broke below support at 1.4551, indicating decline from 1.5880 is still in progress and weakness to 1.4400 would be seen, however, break of 2009 low of 1.4300 is needed to confirm medium term downtrend from 1.6828 top has resumed and... Thu, 18 Mar 2010 04:06:46 +0100 http://www.actionforex.com/action-insight/canadlesticks-and-ichimoku-analysis/usd%10cad-candlesticks-and-ichimoku-analysis-20100318109141/ The greenback finally penetrated recent low at 1.0206, confirming our view that medium term downtrend from 1.3066 has resumed and indicated downside target at 1.0100 has been met and further weakness to psychological support at 1.0000 would be seen, below would extend to 0.9932 (61.8% projection of 1.1725 to 1.0206... Thu, 18 Mar 2010 04:05:21 +0100 http://www.actionforex.com/action-insight/gbpjpy-outlook/gbp%10jpy-daily-outlook-20100318109132/ GBP/JPY rose to 139.33 but retreated sharply after hitting 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21). As noted before, choppy rise from 132.13 is treated as consolidation in the larger decline only and is expected to be limited... Thu, 18 Mar 2010 02:39:03 +0100 http://www.actionforex.com/action-insight/usdjpy-outlook/usd%10jpy-daily-outlook-20100318109130/ Intraday bias in USD/JPY remains neutral as choppy sideway trading from 91.08 continues. More consolidations could still be seen but after all, rise from 88.13 is expected to continue as long as 89.62 cluster support (50% retracement of 88.13 to 91.08 at 89.60) holds. Break of 91.08 will target near... Thu, 18 Mar 2010 02:34:42 +0100 http://www.actionforex.com/action-insight/audusd-outlook/aud%10usd-daily-outlook-20100318109128/ With 0.9096 support intact, AUD/USD's rally is still expected to continue towards 100% projection of 0.8577 to 0.9070 from 0.8802 at 0.9295 next. On the down side, though, break of 0.9096 minor support will indicate that a short term top is formed with bearish divergence condition in 4 hours MACD... Thu, 18 Mar 2010 02:30:36 +0100 http://www.actionforex.com/action-insight/usdcad-outlook/usd%10cad-daily-outlook-20100318109127/ With 4 hours MACD crossed above signal line, intraday bias is turned neutral again. But after all, another fall is still in favor in USD/CAD as long as 1.0231 resistance holds and current decline would extend towards 161.8% projection of 1.0779 to 1.0369 from 1.0679 at 1.0016 next, which is... Thu, 18 Mar 2010 02:27:40 +0100 http://www.actionforex.com/action-insight/gbpusd-outlook/gbp%10usd-daily-outlook-20100318109126/ GBP/USD's corrective rise from 1.4783 might still be in progress but after all, we'd still expect upside to be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 and bring fall resumption. Below 1.5208 minor support will turn intraday bias neutral first. Further break of 1.4977 will argue that... Thu, 18 Mar 2010 02:20:49 +0100