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 Sat, 17 May 2008 13:27:09 +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/eurusd-outlook/eur%10usd-mid%11day-outlook-2008051646256/ EUR/USD strengthens again in early US session and is now pressing mentioned 1.5569/94 resistance zone. As discussed before, the current development argues that EUR/USD might be completing an intraday head and shoulder bottom pattern (ls: 1.5360, h: 1.5284, rs: 1.5396). Focus is now on 1.5569/94 resistance zone and break will... Fri, 16 May 2008 09:48:34 +0100 http://www.actionforex.com/action-insight/gbpusd-outlook/gbp%10usd-mid%11day-outlook-2008051646255/ Cable's rebound from 1.9363 extends further in early US session and is now pressing 4 hours 55 EMA. At this point, intraday bias will be mildly on the upside as long as 1.9439 minor support holds. As discussed before, bullish convergence condition is seen in 4 hours MACD and RSI.... Fri, 16 May 2008 09:45:59 +0100 http://www.actionforex.com/action-insight/usdjpy-outlook/usd%10jpy-mid%11day-outlook-2008051646254/ Despite some brief recovery, USD/JPY's fall from 105.44 resumes in early US session. As discussed before, with 4 hours MACD dragged below signal line, an intraday top is in place. Outlook remains neutral for the moment. On the upside, break of 105.70 resistance will confirm whole rebound from 95.77 has... Fri, 16 May 2008 09:42:08 +0100 http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-mid%11day-outlook-2008051646253/ USD/CHF weakens further in early US session to as low as 1.0472 so far. As noted before, with bearish divergence condition in 4 hours MACD and RSI, rise from 0.9995 could have already completed at 1.0623. Hence further downside is still in favor. Below 1.0388 will suggest fall has resumed... Fri, 16 May 2008 09:39:47 +0100 http://www.actionforex.com/action-insight/usdcad-outlook/usd%10cad-mid%11day-outlook-2008051646252/ USD/CAD's fall extends further to as low as 0.9942 today. Further downside could still be seen as long as 1.0020 minor resistance holds. But after all, the flag like price actions from 1.0326 is still treated as consolidation to rally from 0.9709 only. While deeper decline could be seen, downside... Fri, 16 May 2008 09:36:51 +0100 http://www.actionforex.com/action-insight/audusd-outlook/aud%10usd-mid%11day-outlook-2008051646251/ AUD/USD's rally extends strongly today. Break of 0.9505 resistance reaffirms the case that price actions from 0.9505 to 0.9291, though deep, was just correction to rally from 0.9275 only. On the other hand, correction from 0.9541 should have completed at 0.9275 already and rise from there should present resumption of... Fri, 16 May 2008 09:32:58 +0100 http://www.actionforex.com/action-insight/market-overview/mid%11day-report%3a-dollar-indifferent-to-housing-rebound,-aussie-surges-with-gold-2008051646248/ US new residential construction data posted surprisingly strong results in April and offered some hope to the markets that a turnaround in the housing markets may be in sight.. Housing starts climbed by a robust 8.2% to 1.032m annualized rate, largest monthly increase in more then two years. Building permits... Fri, 16 May 2008 09:21:15 +0100 http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-daily-outlook-2008051646206/ EUR/USD continues to engage in choppy sideway trading today. Outlook remains unchanged as further rally is still mildly in favor as long as 1.5396 minor support holds. Note that the current development argues that EUR/USD might be completing an intraday head and shoulder bottom pattern (ls: 1.5360, h: 1.5284, rs:... Fri, 16 May 2008 03:12:06 +0100 http://www.actionforex.com/action-insight/gbpusd-outlook/gbp%10usd-daily-outlook-2008051646204/ Cable's recovery from 1.9363 continues today. Downside momentum continues to diminish as seen in bullish convergence condition in 4 hours MACD and RSI. While further decline could be seen, downside is still expected to be contained by 1.9337 low and bring rebound. Above 1.9636 resistance will be the first alert... Fri, 16 May 2008 03:07:45 +0100 http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-daily-outlook-2008051646203/ USD/CHF continues to stay in tight range today and outlook remains neutral for the moment. As noted before, with bearish divergence condition in 4 hours MACD and RSI, rise from 0.9995 could have already completed at 1.0623. Hence further downside is still in favor. Below 1.0388 will suggest fall has... Fri, 16 May 2008 03:03:26 +0100 http://www.actionforex.com/action-insight/usdjpy-outlook/usd%10jpy-daily-outlook-2008051646202/ USD/JPY's retreat from 105.44 continues today. As discussed before, with 4 hours MACD dragged below signal line, an intraday top is in place. Outlook remains neutral for the moment. On the upside, break of 105.70 resistance will confirm whole rebound from 95.77 has resumed for 38.2% retracement of 124.13 to... Fri, 16 May 2008 02:56:14 +0100 http://www.actionforex.com/action-insight/gbpjpy-outlook/gbp%10jpy-daily-outlook-2008051646199/ GBP/JPY struggled to take out 4 hours 55 EMA decisively and weakness mildly again today. With 4 hours MACD dragged below signal line, an intraday top might be in place. Bias is now mildly on the downside for 1.9978 low first and break will indicate fall from 208.99 has resumed... Fri, 16 May 2008 02:50:51 +0100 http://www.actionforex.com/action-insight/eurjpy-outlook/eur%10jpy-daily-outlook-2008051646198/ EUR/JPY's rebound from 158.60 was limited below mentioned 163.09 resistance. Subsequent retreat sent EUR/JPY below 161.70 minor support and dragged 4 hours MACD below signal line, indicating an intraday top is already in place. Intraday bias is flipped back to the downside for 160.14 support first and then mentioned 158.24... Fri, 16 May 2008 02:40:14 +0100 http://www.actionforex.com/action-insight/market-overview/daily-report%3a-yen-%26-aussie-higher-in-calm-markets-2008051646194/ The yen and aussie are the relatively stronger currencies in an otherwise quiet market today. Q1 GDP growth from Japan was surprisingly resilient, registering 0.8% qoq growth, with 3.3% yoy rate, beating expectation of 0.6% qoq and 2.5% yoy. Q4's growth was revised down from 0.9% qoq, 3.5% yoy to... Fri, 16 May 2008 02:33:26 +0100 http://www.actionforex.com/action-insight/usdcad-outlook/usd%10cad-mid%11day-outlook-2008051546130/ Much volaility is seen in USD/CAD but outlook remains basically unchanged. Further downside could still be seen as long as 1.0068 minor resistance holds. But after all, there is no indication of completion of the flag like consolidation from 1.0326 yet. Downside is expected to be contained well above 0.9709... Thu, 15 May 2008 11:03:35 +0100 http://www.actionforex.com/action-insight/audusd-outlook/aud%10usd-mid%11day-outlook-2008051546128/ AUD/USD rebounds stronger after fall from 0.9505 was contained well above 0.9252 cluster support. There are some interpretations of the price actions from 0.9541, especially on whether the consolidation from there has completed at 0.9275. No matter which interpretations, the outlook is similar. That is, firstly, short term outlook remains... Thu, 15 May 2008 10:54:39 +0100 http://www.actionforex.com/action-insight/usdjpy-outlook/usd%10jpy-mid%11day-outlook-2008051546112/ USD/JPY's retreat continues today an touching of 104.57 minor support, with 4 hours MACD dragged below signal line, suggests that an intraday top is in place. Outlook is turned neutral for the moment. On the upside, break of 105.70 resistance will confirm whole rebound from 95.77 has resumed for 38.2%... Thu, 15 May 2008 09:43:09 +0100 http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-mid%11day-outlook-2008051546109/ EUR/USD's rally earlier today was limited below 1.5569/94 resistance zone and retreats again. Outlook remains unchanged as further rally is still mildly in favor as long as 1.5396 minor support holds. Note that the current development argues that EUR/USD might be completing an intraday head and shoulder bottom pattern (ls:... Thu, 15 May 2008 09:38:35 +0100 http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-mid%11day-outlook-2008051546108/ USD/CHF's retreat was supported by 4 hours MACD and recovers mildly. But after all, it's still bounded inside tight range of 1.0388 and 1.0623. An intraday top is possibly in place and outlook remains neutral for the moment. As noted before, with bearish divergence condition in 4 hours MACD and... Thu, 15 May 2008 09:32:20 +0100 http://www.actionforex.com/action-insight/gbpusd-outlook/gbp%10usd-mid%11day-outlook-2008051546099/ Cable continues to engage in choppy sideway trading in tight range above 1.9363 today. Outlook remains unchanged. Downside momentum continues to diminish as seen in bullish convergence condition in 4 hours MACD and RSI. While further decline could be seen, downside is still expected to be contained by 1.9337 low... Thu, 15 May 2008 09:19:33 +0100