ActionForex

Sterling ended the week as the strongest major currency as boosted by more hawkish than expected BoE minutes. The pound will face an important test from GDP next week. Euro followed in spite of...

Euro is mixed as markets await Eurogroup meeting in Latvia, where Greece will be pressured to commit to economic reforms for getting disbursement of financial aids that the country needs. Greek prime...

GBP/JPY Daily OutlookDaily Pivots: (S1) 179.02; (P) 179.71; (R1) 180.96; As noted before, the fall from 184.99 should be finished at 174.86. More importantly, the consolidation pattern from 189.70 is...

Sterling remains the strongest major currency this week, maintaining the gains inspired by the BoE minutes released yesterday. Meanwhile, dollar is mildly firmer after stronger than expected housing...

GBP/JPY Daily OutlookDaily Pivots: (S1) 177.76; (P) 178.32; (R1) 179.18; Intraday bias in GBP/JPY remains neutral for the moment. Near term outlook will stay bearish as long as 179.28 resistance...

Aussie rose mildly in Asian session after release of inflation data. Headline CPI rose 0.2% mom, 1.3% yoy in Q1, slowed from prior quarter's 1.7% yoy. That's inline with market expectation. RBA...

Yen opened the week mildly higher as Asian equities slipped but gains were limited. Sentiments stabilized into European session as major indices are mixed, recovering some of last week's loss....

Weekly Review and OutlookSwiss Franc Broadly Higher on Greece RiskThe Swiss Franc ended last week as the biggest winner on risk aversion and European stocks tumbled sharply on Greece fears. Canadian...

Dollar dipped overnight of a batch of weaker than expected economic data, including job and housing, and stays soft in Asian session today. Recent development suggested that Fed is unlikely to raise...

GBP/JPY Daily OutlookDaily Pivots: (S1) 176.02; (P) 176.48; (R1) 177.27; With 179.28 minor resistance intact, deeper decline is still expected in GBP/JPY. The fall from 189.70 should be resuming and...

Australian dollar rebound strongly on much better than expected job data. The employment market grew 37.7k in March, more than double of expectation of 15.0k. Prior month's figure was also revised up...

GBP/JPY Daily OutlookDaily Pivots: (S1) 175.35; (P) 175.97; (R1) 177.09; Intraday bias in GBP/JPY remains on the downside for the moment. The decline from 189.70 should be resuming and sustained...

Aussie's recovery lost steam and weakens after after release of a bunch of Chinese data. The closely watched China GDP growth slowed to 7% yoy in 1Q15, the slowest pace since 4Q09 and down from 7.3%...

GBP/JPY Daily OutlookDaily Pivots: (S1) 175.53; (P) 176.02; (R1) 176.79; GBP/JPY drops to as low as 175.26 so far and intraday bias remains on the downside. Firm break of 175.49 support will extend...

Yen is extending recent rally against European majors and recovers against dollar. Retreat in US stocks provide some support to the currency. DJIA closed -80.61 pts, or -0.45%, down to close at...

Aussie ended the week as the strongest major currency last week as RBA surprised part of the market by keeping interest rate unchanged. But, it was dollar's strength towards the end of the week that...