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