Trade Idea: USD/CAD – Stand aside

Although the greenback has rebounded after yesterday’s fall to 0.9653 and consolidation with mild upside bias is seen for test of previous support at 0.9740-45, break there is needed to revive our previous bullishness and signal the retreat from 0.9817 has ended and bring stronger rebound to 0.9790, then retest

Source: ActionForexall Rss Feed

Trade Idea: EUR/GBP – Buy at 0.8745

As the single currency has maintained a firm undertone after this week’s rebound, suggesting the decline from 0.9043 has formed a low at 0.8611 last week and near term upside bias is seen for further gain to 0.8827 (50% Fibonacci retracement 0.9043-0.8611) but reckon resistance at 0.8846 would hold on first testing.

Source: ActionForexall Rss Feed

Yen-Strength Throws GBP/JPY Back at Rising Channel Support

The poor ADP employment release brought a wave of risk aversion, boosting the JPY and the CHF. Also, note soft UK manufacturing PMI not helping the sterling-rally that was so sharp last week.

GBP/JPY, which has shown bullish strength in a rising channel is pushed back to the support. The ability

Source: ActionForexall Rss Feed

EUR/USD's Positive Reversal Signal in the 1H Chart Targets 1.4470

The EUR/USD paused its rally but remains bullish as the RSI remains above 60 in the 1H chart.

There is a bearish divergence spotted, and the market did slow down. However, this lead to a positive reversal signal where the RSI creates a lower low, but the price low is higher.

Source: ActionForexall Rss Feed

US ADP Employment Change Strongly Undershoots Forecasts for May, NFP to Follow?

The ADP report is used as a curtain opener for the government's Non-Farm Payroll release, but it has been a bit sporadic in how closely it predicts what the NFP figure will be. The expectations is for the economy to have added around 195K jobs.

Even though the ADP report has

Source: ActionForexall Rss Feed

U.S. Tens Test 3% Yield as Job Clouds Gather

Investors are starting to get a better understanding of the irritation Fed Chief Bernanke publicly displayed in November following the FOMC's decision to launch phase two of its quantitative easing plan. Mr. Bernanke appeared to be on the defensive when quizzed about the need to bring intervention in the government

Source: ActionForexall Rss Feed

US 10-Year Yields Slide to 3% Following Weak ADP Data

Following the weaker ADP report today US yields came under pressure as bond prices rallied amidst concerns about the global recovery. The Treasury rally pushed the 10-year yield to 3% undermining the USD against its safe haven rivals.

Source: ActionForexall Rss Feed

USD/JPY Mid-Day Outlook

USD/JPY's break of 80.70 minor support suggests that recovery is completed and intraday bias is back to the downside for retesting 79.58 first. Break there will confirm that whole fall from 85.51 has resumed for a retest on 76.40 low. On the upside, above 81.76 will delay the bearish case

Source: ActionForexall Rss Feed

GBP/USD Mid-Day Outlook

No change in GBP/USD's outlook. Retreat from 1.6546 is still in progress but we'd expect downside to be contained by 4 hours 55 EMA (now at 1.6365) and bring another rise. Above 1.6546 will target a test on 1.6744 high first. Break will confirm up trend resumption for 61.8% projection

Source: ActionForexall Rss Feed

EUR/USD Mid-Day Outlook

With 1.4261 minor support intact, intraday bias in EUR/USD remains on the upside for 61.8% retracement of 1.4938 to 1.3969 at 1.4568. As discussed before, the corrective pull back from 1.4938 should have completed at 1.3969 already. Break of 1.4568 will target a retest on 1.4938 high next. On the

Source: ActionForexall Rss Feed

Afternoon Forex Overview

The euro fluctuated in European trading hours Wednesday as traders responded to headlines on Greece, but the market's overall direction remained unclear, leaving U.S. data, due later, as still the biggest events of the day.

Early market patterns left traders frustrated. First, the euro swooned on German press reports that Germany

Source: ActionForexall Rss Feed

Manufacturing Sector Expanded at a Slower Pace in May

The supply chain disruptions caused by the disaster in Japan coupled with higher energy prices are likely behind the slowdown in manufacturing activity in May. Despite the sharp deceleration, the overall index remains above the 50-mark that indicates expansion, and even above its long-term average of 52.8.

While manufacturing experienced a

Source: ActionForexall Rss Feed

ISM Manufacturing Index Drops Sharply in May, Will Weaker USD or "Risk-Off" ...

The Manufacturing PMI showed its biggest 1 month drop since 1984, with the index coming in at 53.5 compared to April's 60.4. Forecasts were for a much smaller decline to the 57-58 range. Regional manufacturing surveys have underperformed all month and we see it showing up strongly on the national level.

Source: ActionForexall Rss Feed

USD/CAD Bounces Off Trendline Support; 0.9750 is a Critical Pivot

The decline yesterday in the USD/CAD followed a BOC statement that the market interpret as hawkish.

This bearish action is so far contained and supported by a rising trendline seen in the daily chart above. Note that the market in the medium to long term is still bearish, as the market

Source: ActionForexall Rss Feed

U.S. Manufacturing and ADP Payroll Growth Moderate in May

The ISM manufacturing index remained in expansionary territory in May although the pace of growth eased markedly, as shown by the decline in the index to 53.5 from 60.4 in April (a reading above 50 indicates the sector is generally expanding). The Market expected a more moderate decrease in the

Source: ActionForexall Rss Feed

ISM: Slower Pace of Expansion, Yet Prices Remain an Issue

Headline ISM moderated again for the third straight month as the manufacturing sector continues to exhibit growth although at a pace that remains disappointing to many. In May, the ISM index came in at 53.5 from 60.4 in April (top chart). The basic message is that the factory sector continued

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: USD/JPY – Stand aside

Dollar’s intra-day selloff after the release of worse-than-expected U.S. ADP data and the brief breach of this week’s low at 80.71 suggests the fall from 82.23 is still in progress, weakness towards previous support at 80.34 cannot be ruled out, however, near term oversold condition should limit downside and reckon

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: EUR/USD – Buy at 1.4310

As the single currency has maintained a firm undertone in part due to dollar’s broad-based weakness after the release of soft U.S. ADP job data, suggesting recent upmove is still in progress and may extend gain to 1.4454 (50% Fibonacci retracement of 1.4940 to 1.3968), however, weakening of near term

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: GBP/USD – Buy at 1.6355

Although intra-day fall from 1.6496 on week UK data signals the decline from 1.6547 top is still in progress and may bring a stronger retracement of recent upmove to 1.6355-60 (38.2% Fibonacci retracement of 1.6055-1.6547) cannot be ruled out, near term oversold condition should limit downside and bring rebound later.

Source: ActionForexall Rss Feed

China: Central Bank raised reserve ratio for banks by 50 basis points

FOREX NEWS: As it became known on Thursday, the Bank of China decided to raise reserve ratio for the banks by 50 basis points, the decision will come into effect on 18 May.
 
 

Source: Liteforex.org rss feed

The launch of LiteForex’ «Feel the Spread» contest

LiteForex's News: LiteForex group of companies announces the launch of a new contest «Feel the Spread», the total monthly prize money of which amounts to 3600$!

Now any holder of “Floating Spread” type of account can take part in the «Feel the Spread» weekly contest every Tuesday and get real money deposited in his account as a prize.

Seven holders of “Floating Spread” accounts will be the winners ...

Source: Liteforex.org rss feed

USA: PPI in April: +0.8% m/m

FOREX NEWS: As it became known on Thursday, PPI index in the U.S. rose by 0.8% m/m (+6.8% y/y) in April.
 

Source: Liteforex.org rss feed

USA: Number of unemployment benefit applications reduced by 44 thousand over a week

FOREX NEWS: According to the data released yesterday, number of unemployment benefit applications in the U.S. reduced by 44 thousand, to 434 thousand over a week.
 
 

Source: Liteforex.org rss feed

USA: Preliminary volume of retail sales in April: +0.5%

FOREX NEWS: As it became known on Thursday, preliminary volume of retail sales in the U.S. increased by 0.5% in April; while excluding sales of cars the index rose by 0.6% 
 

Source: Liteforex.org rss feed

Canada: Prices index for new houses in March: +1.9% y/y

FOREX NEWS: According to the released data, price index for new houses in Canada rose by 1.9% y/y in March and remained unchanged on monthly basis.
 
 

Source: Liteforex.org rss feed

Norway: Key interest rate rose to 2.25% per annum

FOREX NEWS: As it became known yesterday, the Bank of Norway decided to raise key interest rate by 25 basis points, to 2.25% per annum.
 
 

Source: Liteforex.org rss feed

Great Britain: GDP in February-April: +0.3% - NIESR

FOREX NEWS: According to the NIESR estimates, GDP in the UK rose by 0.3% in February-April against the previous increase by 0.5%.
 
 
 

Source: Liteforex.org rss feed

Euro/USD: Euro remains weak at the end of the week

Forex analytics: The pair EUR/USD continues to be traded downward At the Forex currency market on Friday morning, remaining at the lows of March. 
By 9.25 Moscow time the Euro is at 1.4220 against closing level of 1.4245 yesterday.
Investors are still apprehensive to revert to risk due to the instability at the global capital markets. The data on GDP in Eurozone will be made public today and investors expect the ...

Source: Liteforex.org rss feed

GBP: British Pound sales continues for four days

Forex analytics: At the Forex currency market the British Pound Sterling rate continues to be under selling pressure on Friday, due to the ongoing negative factors of the external background.
Forex forecast: MACD indicator is in the positive area for the pair GBP/USD, however it goes down, trading volume is also reducing, which indicates sell signal. Stochastic Oscillator is coming back to the oversold zone, ...

Source: Liteforex.org rss feed

France: Real GDP in QI: +1.0% q/q

FOREX NEWS: As it became known today, real GDP in France rose by 1.0% q/q (+2.2% y/y) in QI against the growth by 0.3% in QIV, 2010.
 
 

Source: Liteforex.org rss feed

CHF: Swiss Franc still fails to work out general trading idea

Forex analytics: At the Forex currency market Swiss Franc rate is traded downward on Friday, which, however does not exclude the possibility of growth in the nearest future. Thus, the pair USD/CHF is missing general and integrated trading idea. 
Forex forecast: MACD indicator is in the negative area for the pair USD/CHF; it slowed down its decline and started upward   reversal, giving a pair buy signal. ...

Source: Liteforex.org rss feed

Korea: Interest rate was left at the level of 3.00%

FOREX NEWS: As it became known at the end of the week, interest rate in Korea was left at the level of 3.00% per annum, despite expectations of the growth by 25 basis points.
 
 
 

Source: Liteforex.org rss feed

JPY: Japanese Yen reverted to growth

Forex analytics: The Japanese Yen rate is strengthening again reverted to growth at the Forex currency market on Friday. However the situation at the global capital markets remains volatile this morning which prevents from making far-reaching conclusions. 
Forex forecast: MACD indicator for the pair USD/JPY crossed the signal line from top to bottom, giving a pair sell signal. Stochastic oscillator started to ...

Source: Liteforex.org rss feed

AUD: Australian Dollar remains under pressure

Forex analytics: At the Forex currency market the Australian Dollar rate continues to be the target of bears’ attention
Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and keeps on declining, giving a pair sell signal with the volumes slightly above average. Stochastic Oscillator falls in the neutral zone, giving a similar signal.
Forex recommendations: in case of breakdown at the ...

Source: Liteforex.org rss feed

Germany: GDP rose by 1.5% q/q in QI

FOREX NEWS: According to the data released today, GDP in Germany rose by 1.5% q/q (+4.9% y/y) in QI; at the forecast of growth by 0.9% on quarterly basis.
 
 
 

Source: Liteforex.org rss feed

NZD: New Zealand Dollar determines movement direction

Forex analytics: The New Zealand Dollar rate is at the standstill at the Forex currency market this morning trying to determine trading directions after yesterday’s steady growth.
Forex forecast: MACD indicator is in the positive area for the pair NZD/USD, however it goes down, giving a pair sell signal. Stochastic Oscillator is moving along the signal line in the neutral zone, not giving a clear ...

Source: Liteforex.org rss feed

Rouble reverted to growth in pairing with USD

Forex analytics: With the start of the trading session at the MICEX currency section, the Russian Rouble rate reverted to growth in pairing with the USD amid yesterday’s rise in the pair EUR/USD and suspension of sales in the oil sector.
Thus, trading session for the USD started at the level of 27.86 roubles, which is 17 kopek less than yesterday’s closing level; the EUR started movement at the level of ...

Source: Liteforex.org rss feed

Switzerland: Producer prices and import prices in April: +0.3% m/m

FOREX NEWS: As it became known on Friday, producer prices and import prices in Switzerland rose by 0.3% m/m (+0.1% y/y) in April.
 
 
 
 

Source: Liteforex.org rss feed

Eurozone: GDP rose by 0.8% q/q in QI; above expectations

FOREX NEWS: As it became known today, GDP in Eurozone rose by 0.8% (+2.5% y/y) on quarterly basis in QI, while the forecast of growth was to 2.2% y/y and the previous level 2.0%.
 
 

Source: Liteforex.org rss feed

USA: Preliminary index of consumer confidence of Michigan University rose to 72.4 points in May

FOREX NEWS: As it became known yesterday, the U.S. preliminary index of consumer confidence of Michigan University rose to 72.4 points in May against the level of 69.8 points in April. 
 

Source: Liteforex.org rss feed

Canadian Manufacturing Sales Surge in March

Manufacturing sales rose 1.9% in March, more than retracing the 1.8% drop (revised from the initially reported -1.5%) in February. The increase in March was slightly above market expectations for a 1.8% rise going into the report. Eliminating the impact of prices, the volume of manufacturing sales rose 1.9% following

Source: ActionForexall Rss Feed

Australia: Finance of housing construction in March: -1.5% m/m

FOREX NEWS: According to statistics released on Monday, finance of housing construction in Australia fell by 1.5% m/m in March.
 

Source: Liteforex.org rss feed

Trade Idea: USD/CAD – Buy at 0.9630

As the greenback has risen again last Friday and indicated resistance area at 0.9713-22 was penetrated, adding credence to our view that wave 3 has ended at 0.9446 earlier and wave 4 is still in progress for retracement of recent decline to 0.9800 and then 0.9828 (50% Fibonacci retracement of

Source: ActionForexall Rss Feed

Japan: CGPI index in April: +0.9% m/m

FOREX NEWS: As it became known on Wednesday, CGPI index in Japan rose by 0.9% m/m in April against the growth by 0.6% m/m in March.
 
 

Source: Liteforex.org rss feed

Trade Idea: EUR/GBP – Sell at 0.8875

Despite intra-day retreat to 0.8676, as the single currency has rebounded after holding above last week’s low at 0.8674, suggesting further consolidation would take place and another corrective bounce to resistance area at 0.8799-0.8811, break would bring a stronger rebound to 0.8859 (50% Fibonacci retracement of 0.9043 to 0.8674) but

Source: ActionForexall Rss Feed

Japan: Net orders in the machine building sector in March: +2.9% m/m

FOREX NEWS: According to the data released at the beginning of the week, net orders in the machine building sector in Japan increased by 2.9% m/m in March against the revised level of-1.9% m/m in February.
 

Source: Liteforex.org rss feed

Stocks May Follow Commodities Lower

Stocks have been lagging the recent sell off in risky assets. Although they have failed to break above key levels, they remain fairly well supported and most indices have been trading sideways in the past couple of weeks. That compares with commodities, the CRB/ Thomson Reuters index has fallen nearly

Source: ActionForexall Rss Feed

Great Britain: House prices RIGHTMOVE in May: +1.3% m/m

FOREX NEWS: According to the data released on Monday, house prices Rightmove in the UK rose by 1.3% m/m (+0.7% y/y) in May.
 

Source: Liteforex.org rss feed

This Week in the USD: Housing, Manufacturing, and FOMC Minutes on Tap

Markets were volatile last week as investors became wary of risk once again. Commodities slid as did equities especially in Europe and North America as mostly favorable earnings failed to offset global growth worries and sovereign debt problems continued to roil the Euro-zone. The continuing Greek saga sent the EUR

Source: ActionForexall Rss Feed

Japan: Consumer confidence decreased to 33.1 points in April

FOREX NEWS: As it became known this morning, level of consumer confidence in Japan decreased to 33.1 points in April against the previous level of 38.6 points.
 
 

Source: Liteforex.org rss feed

EURUSD 1.37 or 1.45?

Week starts off in a sour mood, but momentum is lacking as markets remained poised on a fulcrum. The key EU finance minister summit kicks off today and concludes tomorrow what will it mean for EURUSD?

The risk trade is making a feeble start for the week, as commodities are

Source: ActionForexall Rss Feed

Euro/USD: Euro is again under pressure from external background

Forex analytics: At the Forex currency market, the pair EUR/USD is traded being under pressure on Monday.
By 9.00 Moscow time the Euro is at 1.4084 against closing level of 1.4118 in Friday.
The next series of sales of the Euro was caused by the news about the arrest of the Managing Director of IMF Dominique Strauss Khan due to which even the meeting of the Fund was also postponed.
Moreover, concern about ...

Source: Liteforex.org rss feed

GBP/USD to Break out of Narrow Range in the NY Session

The 1H chart of the GBP/USD shows the market in a tight range to start the week. After finding support at 1.6150, the market also found resistance near 1.6220. The near-term pivot above that is the 1.6240-1.6250 area. The market should start picking up in the NY session for a breakout

Source: ActionForexall Rss Feed

GBP: British Pound is still on sale

Forex analytics: At the Forex currency market the British Pound Sterling rate continues to be in focus of the traders on Monday as investors keep on moving away from risk due to the unfavorable external background.
Forex forecast: MACD indicator is in the positive area for the pair GBP/USD and goes down, volumes have also dropped, which gives a clear sell signal. Stochastic Oscillator has come into oversold zone, ...

Source: Liteforex.org rss feed

EUR/USD Has a Resistance Cluster at 1.42

The EUR/USD slid last Friday after an AB=CD correction. The market starts this week finding support at 1.4060, then resistance at 1.4150. However, if another corrective rally swings from 1.4090, an AB=CD projection targets 1.42.

Source: ActionForexall Rss Feed

CHF: Swiss Franc is on the standstill this morning

Forex analytics: Swiss Franc rate is on the standstill at the Forex currency market on Monday, trying to regain from the previous sales. However there is a high possibility at the moment that Swiss currency will continue to be weak.
Forex forecast: MACD indicator is in the negative area for the pair USD/CHF and is going upward giving a pair buy signal. Stochastic Oscillator has reached overbought zone, giving a ...

Source: Liteforex.org rss feed

AUD/USD Forms Short-term Double Bottom

The AUD/USD completed a double bottom when breaking above 1.0590. Note also that the market is resolving a bullish divergence.

A pattern breakout projection targets 1.0670 right below 78.6% retracement.

The RSI is attacking 60. A break above it is trouble for the bearish momentum, and a break above 70 establishes a

Source: ActionForexall Rss Feed

USD rose in pairing with in pairing Rouble on Monday

Forex analytics: With the start of the trading session at the MICEX currency section, the Russian Rouble rate fell in pairing with the USD amid ongoing negative dynamics of the major pair at Forex and rollback in the oil market.
Thus, trading session for the USD started at the level of 28.01 roubles, which is 24 kopek more than closing level of Friday; the EUR started at the level of 39.64, (-25 kopeks).
Dual ...

Source: Liteforex.org rss feed

This Week in the GBP: Inflation, Employment, BOE Meeting Minutes

The past two weeks have seen the Pound declining against the USD amid currency markets that are were looking for safety amid a correction/sell-off in commodities and some uncertainties for the global recovery. While the USD was generally well bid during these two weeks, the economic data from the UK

Source: ActionForexall Rss Feed

JPY: Japanese Yen stuck in the range

Forex analytics: At the Forex currency market the Japanese Yen rate remains in the quite narrow range of 80.15-81.33 at the beginning of the week. At the moments the interest of players in JPY has been observed, since it acts as a safe asset while external background is still tense.
Forex forecast: MACD indicator for the pair USD/JPY has crossed the signal line from top to bottom and is not giving a clear signal. ...

Source: Liteforex.org rss feed

Trade Idea Wrap-up: USD/JPY – Buy at 80.65

Dollar’s retreat after intra-day rise to 81.07 suggests consolidation would take place, however, downside should be limited and as long as Friday’s low at 80.34 (where a ‘hammer’ was formed) holds, consolidation with mild upside bias remains for another rebound. A break of said resistance at 81.07 would bring another

Source: ActionForexall Rss Feed

AUD: Sales of Australian Dollar has not finished yet

Forex analytics: At the Forex currency market the Australian Dollar rate remains under the pressure on Monday because investors are not interested in the high-yielding currencies yet.
Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and continues to go down, giving a pair sell signal, while volumes are slightly above average. Stochastic Oscillator goes down in the neutral zone, ...

Source: Liteforex.org rss feed

Global Long-Ends Suffer from Lack of Follow-Through Buying

A rally for bonds clearly predicated upon weakening commodity prices and declines for global stocks appears to have hit a brick wall on Wall Street at Monday's opening bell. Equity prices are no longer lower while the inaugural piece of economic evidence for the week failed to provide deserved further

Source: ActionForexall Rss Feed

NZD: New Zealand Dollar is in the focus of traders

Forex analytics: The New Zealand Dollar rate remains at the low level at the Forex currency market at the beginning of the week, because market has not any interest in risky positions. External background is still complex, which prevents from regaining from the previous sales.
Forex forecast: MACD indicator is in the positive area for the pair NZD/US, however it goes down, giving a pair sell signal. Stochastic ...

Source: Liteforex.org rss feed

Trade Idea Wrap-up: GBP/USD –Sell at 1.6320

As the British pound has rebounded again due to short-covering on back of dollar’s retreat versus other European currencies, suggesting further consolidation above last week’s low of 1.6147 would take place and retracement to the Ichimoku cloud bottom (now at 1.6277) would be seen, however, resistance at 1.6322 should limit

Source: ActionForexall Rss Feed

Eurozone: Final HICP in April: +2.8% y/y

FOREX NEWS: As it became known today, consumer inflation HICP in Eurozone increased by 2.8% y/y in April against the level of +2.7% y/y in March.
At the same time net final HICP rose by 1.6% y/y in April against the level of +1.3% in March.

Source: Liteforex.org rss feed

Trade Idea Wrap-up: USD/CHF – Sell at 0.8905

Dollar’s intra-day selloff has dampened our previous bullishness and signals recent upmove has formed a temporary top at 0.8947 last week, hence consolidation with downside bias is seen for a test of 0.8797-98 (38.2% Fibonacci retracement of 0.8554-0.8947 and Friday’s low), break there would add credence to this view, bring

Source: ActionForexall Rss Feed

USA: Business activity research FBR of New York Empire State is 11.88 points in May

FOREX NEWS: As it became known today, business activity research FBR of U.S. New York Empire State fell to 11.88 points in May against the forecast of 19.75 points.

Source: Liteforex.org rss feed

Elliott Wave Trade Ideas Performance Update

The Australian dollar went through a roller-coaster ride last week, despite rebounding initially to as high as 1.0889 (over 300 points from the reaction low of 1.0537), aussie ran into heavy selling pressure there as suggested (we recommended to sell at 1.0875 for 1.0600), price did tumble in line with

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: EUR/USD – Stand aside

As the single currency has retreated after failing to penetrate the Ichimoku cloud top, suggesting the recovery from this week’s low at 1.4254 has possibly ended at 1.4423 earlier today and test of yesterday’s low at 1.4270 is likely but break there is needed to confirm the decline from 1.4940

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: GBP/USD –Buy at 1.6415

Although the British pound has retreated from 1.6518, cable’s intra-day rally on hawkish BOE inflation report adds credence to our view that a temporary low has been formed at 1.6270 earlier this week and consolidation with upside bias remains for retracement of recent decline to previous resistance at 1.6544 but

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: USD/CHF – Buy at 0.8710 or sell at 0.8870

Although the greenback has edged higher again in New York session and near term rise from last week’s low of 0.8554 may bring a stronger retracement of recent decline to 0.8869 (61.8% projection of 0.8554 to 0.8815 measuring from 0.8708), loss of upward momentum should limit upside to 0.8890/00 and

Source: ActionForexall Rss Feed

EUR/USD Maintains Bearish Momentum in the US Session

The short-term momentum in the EUR/USD remains bearish, as the RSI reading in the 1H chart stayed below 60, and is now pushing back below 30.

Also, the rally from 1.4260 to 1.4420 was in a 3-wave sequence, possibly completing a corrective structure.

If the market can clear 1.4250, we are likely

Source: ActionForexall Rss Feed

Narrow Range for Government Yields on New Commodity Sales

Sliding crude oil prices and a turn in the euphoric tide lifting equities prompted a mid-morning lift for government debt prices midweek. Yields subsequently remain close to the recent floor even after commodity buyers plundered offers after the worst performance in three years forcing a rebound not only in inflation-bearing

Source: ActionForexall Rss Feed

EURJPY: Continues To Face Bear Threats

While the cross closed slightly higher above our highlighted resistance at the 116.46 level, its April 18'2011 low on Tuesday, it has backed off that level in early trading today. We expect the 116.46 level to continue to cap gains. This should turn EURJPY lower towards the 114.78 level with

Source: ActionForexall Rss Feed

A Strong US Dollar Triggers Weakness in Commodities and their Currencies

As of this posting, gold dropped $17.70 or 1.16% to $1,498.40 because investor demand for the U.S. currency is growing because the outlook for Greece securing additional aid is in flux. Today market participants are choosing the dollar over the precious yellow metal. Silver also plummeted $3.11 or 8.09% to $35.375.

Source: ActionForexall Rss Feed

Dollar Surges Amid Risk Aversion

The U.S. dollar surged and stocks tumbled as risk aversion took hold amid ongoing debt concerns in the Eurozone periphery and softer Chinese economic data. Additionally, global inflation concerns mounted increasing the prospects for higher interest rates. The dollar was given a boost by hawkish rhetoric from the Fed as

Source: ActionForexall Rss Feed

EUR, AUD and Other Higher-Yielders Fall, as Investors Scramble for Safety Amid Plunging Oil

The lull in risk aversion seen yesterday was broken today as we had renewed selling in commodity and equity markets. Last night, data from China showing the need for more tightening from the central bank weighed on commodities, and when more sovereign debt concerns crept up in the European session

Source: ActionForexall Rss Feed

Greece's Credit Rating Gets Downgraded Again

The euro plummeted on Monday after rating agency Standard Poor's downgraded Greece's credit rating. Greece's rating fell by two levels to B and will be kept on a negative credit watch. The single currency continues to be under pressure weighed by a rumor saying that Greece is considering leaving

Greek Downgrade Weakens Euro, China & Australia Post Strong Trade Surplus

Trade surplus data from Australia and China were above expectations which boosted markets and risk-appetite built up gradually. China posted surplus of $11.4 Billion, more than three times of estimate of $3.2 Billion as exports climbed 30% and imports slowed down to 22%, boosting the US case for faster Yuan

EUR/CHF Daily Outlook

Intraday bias in EUR/CHF remains on the downside with 1.2628 minor resistance intact and further decline should be seen to 1.2401/32 support zone. As noted before, consolidation pattern from 1.2401 should have completed at 1.3234 already and fall from there is resuming the larger down trend. Break of 1.2401 will

EUR/GBP Daily Outlook

At this point, further decline is still in favor in EUR/GBP as long as 0.8817 minor resistance holds. Sustained break of 0.8739 support will argue that whole rise from 0.8284 has completed and deeper fall could then be seen to 61.8% retracement of 0.8284 to 0.9041 at 0.8573 first. On

EURUSD – Bearish Below 1.4377

Against a background of bearish EURUSD signals for sentiment for this week, the market traded to the most negative levels for 3 weeks. The lows were not maintained, however, and the net movement was virtually unchanged. While this price action highlights a degree of investor uncertainty, selling pressure has been

Strong April Rebound For China's Trade Surplus

Early this morning the NZD was hit by headlines from the IMF who commented that the NZD is as much as 20% overvalued although its current accommodative monetary stance is appropriate. And from China we saw a huge jump in the trade balance to $11.4 bln from $0.14 bln previously

Market Drivers - Currencies

An ECB member stated that a restructuring of the Greek debt would bring the banking system of the euro zone to its knees. This is no news. We have referred to this several times, but when an ECB official states the same thing it puts pressure on the market, and