Contributors – Action Forex https://www.actionforex.com Live Forex Analysis, Currency Rates, Economic Calendar, Technical Forecast, Fundamental News, Free Trading Signals. Best. USD Dollar, EUR Euro, JPY Yen, GBP Pound, CHF Swiss Franc, CAD Canadian Dollar, AUD Australian Dollar, NZD New Zealand Dollar Thu, 25 Apr 2019 04:00:59 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Daily Markets Broadcast https://www.actionforex.com/contributors/technical-analysis/192694-daily-markets-broadcast-82/ https://www.actionforex.com/contributors/technical-analysis/192694-daily-markets-broadcast-82/#respond Thu, 25 Apr 2019 04:00:59 +0000 https://www.actionforex.com/?p=192694 Wall Street retreats from highs Upward momentum stalled on Wall Street yesterday, with only the NAS100 index extending gains, as earnings reports failed to continue the strong trend. Holidays in Australia and New Zealand may impact liquidity during the Asian session. US30USD Daily Chart The US30 index touched the highest level since October 5 yesterday […]

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Market Morning Briefing: The Euro-Yen Has Fallen To 125 https://www.actionforex.com/contributors/technical-analysis/192692-market-morning-briefing-the-euro-yen-has-fallen-to-125/ https://www.actionforex.com/contributors/technical-analysis/192692-market-morning-briefing-the-euro-yen-has-fallen-to-125/#respond Thu, 25 Apr 2019 03:55:34 +0000 https://www.actionforex.com/?p=192692 STOCKS Equities broadly remain bullish. Asians are in a consolidation phase within their overall uptrend. DAX looks stronger than others as it has broken above a crucial resistance. Dow (26597.05, -59.34, -0.22%) has come-off slightly yesterday. But the outlook remains bullish. Key supports are at 26560 and 26500 which can limit the downside in the […]

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NZD/CHF Could Be The Next Shoe To Drop Behind NZD/JPY https://www.actionforex.com/contributors/technical-analysis/192687-nzd-chf-could-be-the-next-shoe-to-drop-behind-nzd-jpy/ https://www.actionforex.com/contributors/technical-analysis/192687-nzd-chf-could-be-the-next-shoe-to-drop-behind-nzd-jpy/#respond Thu, 25 Apr 2019 03:14:58 +0000 https://www.actionforex.com/?p=192687 Whilst NZD/JPY appears to be leading the way lower, NZD/CHF looks to be carving out a similar path. Firstly, it’s interesting to note May tends to be a strong month for CHF and JPY crosses and weak for NZD. In both cases, NZD has closed lower against CHF and JPY over 53% of the time. […]

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EUR/GBP Remains Supported On Dips Above 0.8600 https://www.actionforex.com/contributors/technical-analysis/192684-eur-gbp-remains-supported-on-dips-above-0-8600/ https://www.actionforex.com/contributors/technical-analysis/192684-eur-gbp-remains-supported-on-dips-above-0-8600/#respond Thu, 25 Apr 2019 02:49:04 +0000 https://www.actionforex.com/?p=192684 Key Highlights The Euro struggled to break the 0.8680 resistance against the British Pound. EUR/GBP recently traded below a bullish trend line at 0.8660 on the 4-hours chart. The German IFO Business Climate Index declined to 99.2 in April 2019 from 99.6. The US Durable Goods Orders in March 2019 could increase 0.8%, whereas the […]

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EURUSD Breaks Below 1.1183/75 Support Zone https://www.actionforex.com/contributors/technical-analysis/192681-eurusd-breaks-below-1-1183-75-support-zone/ https://www.actionforex.com/contributors/technical-analysis/192681-eurusd-breaks-below-1-1183-75-support-zone/#respond Thu, 25 Apr 2019 02:41:39 +0000 https://www.actionforex.com/?p=192681 EURUSD breaks below 1.1183/75 support zone leaving risk of more decline on the cards. Support comes in at the 1.1100 where a violation will turn risk to the 1.1050 level. A break below here will target the 1.1000 level. Further down, support sits at the 1.0950. Its daily RSI is bearish and pointing lower suggesting […]

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It’s A Two-Speed World Out There https://www.actionforex.com/contributors/fundamental-analysis/192679-its-a-two-speed-world-out-there/ https://www.actionforex.com/contributors/fundamental-analysis/192679-its-a-two-speed-world-out-there/#respond Thu, 25 Apr 2019 02:40:29 +0000 https://www.actionforex.com/?p=192679 It’s a two-speed world out there The earnings juggernaut continued on Wall Street today with reports mostly above expectation. However, the major indices had a consolidative look about them after the S&P and Nasdaq had record closes the day before, with the S&P and Dow Jones both falling 0.22%, and the Nasdaq dropping 0.23%. The […]

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USD/CAD Canadian Dollar Falls As Bank of Canada (BoC) Goes Full Dove https://www.actionforex.com/contributors/fundamental-analysis/192673-usd-cad-canadian-dollar-falls-as-bank-of-canada-boc-goes-full-dove/ https://www.actionforex.com/contributors/fundamental-analysis/192673-usd-cad-canadian-dollar-falls-as-bank-of-canada-boc-goes-full-dove/#respond Thu, 25 Apr 2019 02:25:55 +0000 https://www.actionforex.com/?p=192673 The Canadian dollar fell 0.5 percent after the Bank of Canada (BoC) kept its benchmark interest rate unchanged as expected, but went more dovish with its language. The central bank has all but removed the probability of a rate hike in 2019 with monetary policy to remain accommodative. There was no mixed signals form the […]

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US FX Handover https://www.actionforex.com/contributors/fundamental-analysis/192669-us-fx-handover-13/ https://www.actionforex.com/contributors/fundamental-analysis/192669-us-fx-handover-13/#respond Thu, 25 Apr 2019 02:21:14 +0000 https://www.actionforex.com/?p=192669 The Bank of Canada left interest rates unchanged but dropped its hawkish bias, leading USD/CAD to break out of its symmetrical triangle pattern, a development we hinted at in today’s Asian session. The US dollar was once again the strongest major currency, with the Dollar Index breaking above the resistance level we highlighted yesterday. EUR/USD […]

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BOC Drops its Hawkish Bias, USD/CAD Breaks Above 1.3500 https://www.actionforex.com/contributors/fundamental-analysis/192640-boc-drops-its-hawkish-bias-usd-cad-breaks-above-1-3500/ https://www.actionforex.com/contributors/fundamental-analysis/192640-boc-drops-its-hawkish-bias-usd-cad-breaks-above-1-3500/#respond Wed, 24 Apr 2019 15:46:41 +0000 https://www.actionforex.com/?p=192640 To the surprise of no informed market participant, the Bank of Canada left interest rates unchanged at 1.75% in today’s monetary policy meeting. A pre-meeting Bloomberg poll of 24 economists showed this result was unanimously expected, so the “decision” itself didn’t lead to any meaningful market moves. That said, traders were keeping a close eye […]

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Loonie Falls Further after BoC Lowered Tone/Forecasts https://www.actionforex.com/contributors/technical-analysis/192629-loonie-falls-further-after-boc-lowered-tone-forecasts/ https://www.actionforex.com/contributors/technical-analysis/192629-loonie-falls-further-after-boc-lowered-tone-forecasts/#respond Wed, 24 Apr 2019 15:18:59 +0000 https://www.actionforex.com/?p=192629 The pair surged above 1.35 barrier, hitting levels last traded in early January, after Bank of Canada kept interest rates unchanged at 1.75% but changed rhetoric about need for future rate hikes and lowered its growth forecast for 2019. Fresh bullish acceleration extends rally of the previous day and broke above key barriers at 1.3450/67 […]

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Bank of Canada Rate Hold Comes with a Growth Downgrade https://www.actionforex.com/contributors/fundamental-analysis/192627-bank-of-canada-rate-hold-comes-with-a-growth-downgrade/ https://www.actionforex.com/contributors/fundamental-analysis/192627-bank-of-canada-rate-hold-comes-with-a-growth-downgrade/#respond Wed, 24 Apr 2019 15:13:06 +0000 https://www.actionforex.com/?p=192627 Matching expectations, the Bank of Canada held its overnight interest rate unchanged at 1.75% this morning. The tone of accompanying communication tilted dovish, perhaps more than markets anticipated given the immediate further decline in yields and the dollar. Compared with the last statement, the Bank is now focused on “the appropriate degree of monetary policy […]

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Time for US GDP Growth and Core PCE Inflation https://www.actionforex.com/contributors/fundamental-analysis/192622-time-for-us-gdp-growth-and-core-pce-inflation/ https://www.actionforex.com/contributors/fundamental-analysis/192622-time-for-us-gdp-growth-and-core-pce-inflation/#respond Wed, 24 Apr 2019 15:09:39 +0000 https://www.actionforex.com/?p=192622 The US reports preliminary GDP growth figures for the first quarter of 2019 on Friday at 1230 GMT, while at the same time on Monday, the March core Personal Consumption Expenditures (PCE) index, will move front and center to add further clues on whether an accommodative monetary policy is indeed necessary in the year ahead. While […]

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Could USD/JPY Break Lower? https://www.actionforex.com/contributors/fundamental-analysis/192619-could-usd-jpy-break-lower/ https://www.actionforex.com/contributors/fundamental-analysis/192619-could-usd-jpy-break-lower/#respond Wed, 24 Apr 2019 15:05:57 +0000 https://www.actionforex.com/?p=192619 Earlier, I wrote that benchmark US government bond prices have been inching higher and yields lower again, suggesting the recent improvement in US data has not made a big impact on interest rate expectations. If the moves can be sustained, this could potentially derail the US dollar’s rally against some of her major rivals. One […]

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Elliott Wave Update: EURAUD Aiming Towards 1.61 – 1.62 https://www.actionforex.com/contributors/technical-analysis/192616-elliott-wave-update-euraud-aiming-towards-1-61-1-62/ https://www.actionforex.com/contributors/technical-analysis/192616-elliott-wave-update-euraud-aiming-towards-1-61-1-62/#respond Wed, 24 Apr 2019 15:03:15 +0000 https://www.actionforex.com/?p=192616 AUD may stay weak, if we consider a bullish continuation on EURAUD for wave C within a big expanded flat correction. That said, seems like EURAUD is trading in an impulsive five-wave rise back to a previous wave A swing high to complete a big expanded flat correction, so more upside in view towards 1.61 […]

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Bank of Canada shifts to neutral bias; takes an axe to 2019 growth forecast https://www.actionforex.com/contributors/fundamental-analysis/192614-bank-of-canada-shifts-to-neutral-bias-takes-an-axe-to-2019-growth-forecast/ https://www.actionforex.com/contributors/fundamental-analysis/192614-bank-of-canada-shifts-to-neutral-bias-takes-an-axe-to-2019-growth-forecast/#respond Wed, 24 Apr 2019 15:01:28 +0000 https://www.actionforex.com/?p=192614 As expected, the overnight rate was held steady at 1.75% for a fourth consecutive meeting The BoC’s 2019 GDP growth forecast was lowered to 1.2% from 1.7% previously—a more substantial downward revision than we expected GDP growth is expected to average just 0.8% annualized over the first half of 2019 before picking up later this […]

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Sunset Market Commentary https://www.actionforex.com/contributors/fundamental-analysis/192608-sunset-market-commentary-303/ https://www.actionforex.com/contributors/fundamental-analysis/192608-sunset-market-commentary-303/#respond Wed, 24 Apr 2019 14:18:24 +0000 https://www.actionforex.com/?p=192608 Markets Global core bonds gain ground today. WS closed yesterday’s session at all-time highs, supported by better-than-expected corporate earnings. However, that didn’t spill-over to FX/FI markets with core bonds maintaining this week’s upward trend. European equities failed to track WS gains and edged lower at opening, further supporting core bonds. German ifo business confidence printed […]

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Dollar Continues March Higher as the Stock Rally Pauses https://www.actionforex.com/contributors/fundamental-analysis/192573-dollar-continues-march-higher-as-the-stock-rally-pauses/ https://www.actionforex.com/contributors/fundamental-analysis/192573-dollar-continues-march-higher-as-the-stock-rally-pauses/#respond Wed, 24 Apr 2019 12:53:53 +0000 https://www.actionforex.com/?p=192573 The dollar continues to march on higher, while global yields fell as markets await the next wrath of earnings.  The S&P 500 and Nasdaq both closed above their prior record high closes yesterday and investors are continuing to run to stocks as the Fed appears on hold for the foreseeable future, possibly deep into 2020. USD […]

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USDTRY Challenges 6-Month High, Trades Well Above SMAs https://www.actionforex.com/contributors/technical-analysis/192565-usdtry-challenges-6-month-high-trades-well-above-smas/ https://www.actionforex.com/contributors/technical-analysis/192565-usdtry-challenges-6-month-high-trades-well-above-smas/#respond Wed, 24 Apr 2019 11:53:28 +0000 https://www.actionforex.com/?p=192565 USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, hitting a new six-month high of 5.8753. Looking at the technical indicators, the stochastic is switching to the upside, challenging the overbought territory, while the RSI is approaching the 70 […]

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European Update – US Earnings Fail To Lift Stocks https://www.actionforex.com/contributors/fundamental-analysis/192561-european-update-us-earnings-fail-to-lift-stocks/ https://www.actionforex.com/contributors/fundamental-analysis/192561-european-update-us-earnings-fail-to-lift-stocks/#respond Wed, 24 Apr 2019 11:50:51 +0000 https://www.actionforex.com/?p=192561 Market bounce quickly fades after encouraging earnings We’re seeing another mixed session in Europe on Wednesday, with stocks here and in Asia clearly not encouraged by the earnings reports in the US that prompted a record close in the S&P 500 and NASDAQ In an otherwise quiet week and at a time when central banks […]

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German IFO Survey Continues The String Of Disappointing Data For Region https://www.actionforex.com/contributors/fundamental-analysis/192559-german-ifo-survey-continues-the-string-of-disappointing-data-for-region/ https://www.actionforex.com/contributors/fundamental-analysis/192559-german-ifo-survey-continues-the-string-of-disappointing-data-for-region/#respond Wed, 24 Apr 2019 11:49:00 +0000 https://www.actionforex.com/?p=192559 Notes/Observations German Apr IFO survey misses expectations across the board as the domestic economy continued to lose steam PBoC chose a special lending tool (TMLF) to try and alleviate a banking-system liquidity shortage; move suggests the PBoC was keen to avoid stock and property bubbles RBA rate cut now seen on cards for May after […]

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