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 Tue, 09 Feb 2010 14:53:23 +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/candlesticks-trades/trade-idea%3a-gbp%10usd-%11-sell-at-1.5800-20100209106378/ As the British pound continued to find decent demand above yesterday’s low at 1.5535, suggesting further consolidation above there would take place and retracement to 1.5700 and later to the Kijun-Sen (now at 1.5759) cannot be ruled out, however, renewed selling interest should emerge around 1.5800/03 (50% Fibonacci retracement of... Tue, 09 Feb 2010 09:51:06 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-usd%10chf-%11-stand-aside-20100209106377/ As the greenback has moved lower again and just tested the Kijun-Sen, suggesting a temporary top has possibly been formed at 1.0800 last Friday and consolidation with mild downside bias is seen for further fall to 1.0644 (previous resistance turned support), however, break there is needed to confirm and bring... Tue, 09 Feb 2010 09:49:29 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-eur%10usd-%11-sell-at-1.3900-20100209106374/ Although the single currency has continued to edge higher after falling to 1.3585 last Friday, suggesting retracement of recent decline is underway and a break of the Kijun-Sen (now at 1.3798) would bring correction towards resistance at 1.3851 (previous support turned resistance), however, renewed selling interest should emerge around 1.3902... Tue, 09 Feb 2010 09:24:33 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-usd%10jpy-%11-stand-aside-20100209106373/ Despite intra-day brief bounce to 89.82, as dollar has retreated after faltering below the Kijun-Sen, suggesting further consolidation would be seen, below Friday’s low at 88.82 is needed to signal recent fall from 93.78 has resumed and bring retest of 88.55, break would extend weakness towards 88.32, however, loss of... Tue, 09 Feb 2010 09:23:07 +0100 http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-mid%11day-outlook-20100209106366/ 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 intraday bias back to the downside. Further break of... Tue, 09 Feb 2010 08:24:35 +0100 http://www.actionforex.com/action-insight/gbpusd-outlook/gbp%10usd-mid%11day-outlook-20100209106365/ 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 1.5829 from 1.6456 at 1.5410 next. Tue, 09 Feb 2010 08:20:55 +0100 http://www.actionforex.com/action-insight/usdjpy-outlook/usd%10jpy-mid%11day-outlook-20100209106364/ 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. Break will confirm that whole rise from 84.10 has completed... Tue, 09 Feb 2010 08:18:38 +0100 http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-mid%11day-outlook-20100209106363/ 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 rally resumption. Above... Tue, 09 Feb 2010 08:06:28 +0100 http://www.actionforex.com/action-insight/market-overview/mid%11day-report%3a-speculation-on-greece-bailout-lifts-euro-20100209106362/ 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 Thursday. And it's speculated that a deal for Greece bailout would... Tue, 09 Feb 2010 08:05:18 +0100 http://www.actionforex.com/action-insight/elliott-wave-trades/trade-idea%3a-eur%10jpy-%11-buy-at-121.50-20100209106350/ Although the single currency has moved higher again and test of indicated resistance at 123.33 (Friday's high) is likely, still needs to break this level to signal the wave v of the c leg from 134.37 has possibly ended at 120.70 and bring correction of recent decline towards 124.45 (wave... Tue, 09 Feb 2010 04:22:41 +0100 http://www.actionforex.com/action-insight/elliott-wave-trades/trade-idea%3a-aud%10usd-%11-sell-at-0.8845-20100209106349/ The Australian dollar continued to edge higher as we suggested in our previous update and we are keeping our count that minor wave iii of recent C leg decline from 0.9331 has ended at 0.8578 and consolidation would take place in wave iv for recovery towards 0.8846 (38.2% Fibonacci retracement... Tue, 09 Feb 2010 04:21:17 +0100 http://www.actionforex.com/action-insight/elliott-wave-analysis/gbp%10chf-elliott-wave-analysis-20100209106347/ Despite rising to indicated resistance at 1.7113 again, as the British pound retreated after failing to penetrate this level, suggesting further consolidation would take place and mild downside bias is seen for weakness to 1.6500 and then 1.6400. However, only a break of support at 1.6317 would signal the wave... Tue, 09 Feb 2010 03:46:50 +0100 http://www.actionforex.com/action-insight/elliott-wave-analysis/gbp%10usd-elliott-wave-analysis-20100209106346/ The British pound fell in line with our expectation and the breach of indicated support at 1.5832 together with subsequent selloff to 1.5535 yesterday confirm our bearish count that the decline from 1.6879 (failed 5th) is still in progress with wave i ended at 1.5832, wave ii at 1.6459 and... Tue, 09 Feb 2010 03:43:48 +0100 http://www.actionforex.com/action-insight/canadlesticks-and-ichimoku-analysis/gbp%10usd-candlesticks-and-ichimoku-analysis-20100209106341/ The British pound continued to move lower after breaking indicated support at 1.5832, price then fell below support at 1.5708, confirming a downside break of indicated range of 1.5708-1.7044 has taken place and almost reached our suggested target at 1.5500 (yesterday's low is 1.5535). As the chart showed a weekly... Tue, 09 Feb 2010 03:09:51 +0100 http://www.actionforex.com/action-insight/canadlesticks-and-ichimoku-analysis/usd%10chf-candlesticks-and-ichimoku-analysis-20100209106340/ The greenback surged as expected and easily met our indicated upside target at 1.0696 (38.2% Fibonacci retracement of 1.1967 to 0.9910) and 1.0800 (exactly last week's high), confirming our view that medium term decline from 1.2298 has ended last year at 0.9910 and upside bias remains for stronger retracement of... Tue, 09 Feb 2010 03:08:15 +0100 http://www.actionforex.com/action-insight/gbpjpy-outlook/gbp%10jpy-daily-outlook-20100209106337/ 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 bring fall resumption. Below 138.23 will target... Tue, 09 Feb 2010 02:36:14 +0100 http://www.actionforex.com/action-insight/eurjpy-outlook/eur%10jpy-daily-outlook-20100209106334/ 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 fall resumption. Below 120.69 will target 100%... Tue, 09 Feb 2010 02:32:07 +0100 http://www.actionforex.com/action-insight/eurgbp-outlook/eur%10gbp-daily-outlook-20100209106333/ 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 upside and stronger rise should be seen towards... Tue, 09 Feb 2010 02:27:22 +0100 http://www.actionforex.com/action-insight/eurchf-outlook/eur%10chf-daily-outlook-20100209106331/ 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 ahead of 1.5 psychological level to limit any rebound... Tue, 09 Feb 2010 02:23:21 +0100 http://www.actionforex.com/action-insight/candlesticks-trades/trade-idea%3a-usd%10chf-%11-buy-at-1.0585-20100209106319/ As the greenback has continued to trade sideways after early rally to 1.0800 (Friday's high), suggesting further consolidation below there would be seen and pullback to the Kijun-Sen (now at 1.0647) is likely, however, dollar should find decent demand around 1.0580/85 (approx. 38.2% Fibonacci retracement of 1.0227 to 1.0800) and... Tue, 09 Feb 2010 01:05:22 +0100