GAINSY Hottest Forecasts

http://www.gainsy.com/templates/sj_w.../icons/usd.png Elliott Wave Forecast: EUR/JPY – Buy at 119.20
(GAINSY Elliott Wave Analysis)

Although the single currency has fallen again after brief recovery and near term downside risk remains for the fall from 126.03 to bring further weakness, as current move is viewed as the c leg of wave iv correction, downside should be limited to 119.10-20 and support at 118.80 should hold, ...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro Slides Amid Thin Trading
(GAINSY Fundamental Analysis)

The euro (EUR) decreased for yet another day against the US dollar (USD) amid thin trading due to the Easter holidays. The single currency slid to 1.2770 before recoiling to 1.2787. The last few bank weeks have seen the pair search for a new lower norm as recent developments in the...

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: USD/JPY – Sell at 94.35

Despite intra-day breach of previous support at 93.50, lack of follow through selling and current recovery from 93.28 suggest consolidation would be seen and test of the...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: GBP/USD – Buy at 1.5160

As the British pound found good support at 1.5092 last bank week and staged a strong recoil, adding credence to our view that correction from 1.5280 (last bank week’s high) h...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Holiday in Europe Keeps Markets Subdued

FX price action has been subdued as the long Easter holiday has kept the news flow thin. However, EURUSD did come under selling pressure with the growing indications that deposits in Cyprus banks greater than €100k will be subject to a greater than expected haircut. EURUSD trade was down to...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Asia Data Disappoints

With much of Europe still on Easter fracture, markets are in consolidation mode today. This bank week brings a slew of Central bank policy announcements including those from the G10, the RBA, BoE, ECB and BoJ while unfolding events in Cyrus and political uncertainty should keep risk taking to a minimum....

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png EURO: Is It Too Late For Holiday Surprises?

There are no real surprises on this Easter Monday with global sentiment still very risk-off. Asian markets were lower on light volume on their first trading day of the new fiscal year. While in Europe, markets continue to hold above support amid holiday weariness however, none of this is...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png U.S. Manufacturing Activity Expanded at a Slower Pace in March; Construction Spending Posted a Solid Gain in February

Activity in the US manufacturing sector expanded in March, although at a more moderate pace than the previous month as evidenced by the ISM manufacturing index declining to 51.3 in the month from the 20-month high of 54.2 recorded in February. The decrease in the gauge of manufacturing activity in...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png ISM Manufacturing: Growth Story Continues

The below consensus ISM reading was disappointing; however, the March ISM index at 51.3 suggests continued growth but not the boom typical of the early recoveries of 2004 and 2009 (top graph). Sustained, subpar economic growth remains the theme for the economy. March's ISM reading also indicates little impact on...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png USD Weakens Broadly on ISM Disappointment
(GAINSY Technical Analysis)

USD Weakens in early US session as markets were surprised by weaker than expected manufacturing data from US. The ISM manufacturing index decreased to 51.3 in March, version expectation of staying unchanged at 54.2. That's the lowest reading since December's 50.2. Deterioration were seen in most components, including production which...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Elliott Wave Forecast: EUR/GBP – Buy at 0.8405
(GAINSY Elliott Wave Analysis)

Euro’s intra-day fall to 0.8412 suggests near term downside risk remains for the c leg of the wave iv to bring correction of recent upmove towards 0.8400 before prospect of another recoil later, above 0.8495-00 would suggest low is possibly formed and bring test of resistance at 0.8561 (last bank week’s...

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: USD/JPY – Sell at 94.05

As the greenback has fallen again after intra-day brief recovery tot he Kijun-Sen, suggesting the decline from 96.71 top is still in progress and further weakness to 93.00...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: EUR/USD – Sell at 1.2935 or buy at 1.2820

Current rally above previous resistance at 1.2845 signals a temporary low has been formed at 1.2751 last bank week and consolidation with upside bias remains for retracement...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: GBP/USD – Buy at 1.5185

As the British pound has riasen again after finding support right above the Ichimoku cloud top, adding credence to our view that correction from 1.5280 (last bank week’s h...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: USD/CHF – Sell at 0.9495

Current selloff together with the breach of previous support at 0.9467 suggests the recoil from 0.9354 has ended at 0.9555 and further consolidation within early established...

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: USD/JPY – Sell at 94.05

USD’s selloff after fractureing previous support at 93.50 signals the decline from 96.71 top is still in progress and further weakness to 92.50 would be seen, however, near t...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: EUR/USD – Sell at 1.2935 or buy at 1.2810

Although current firmness suggests near term upside risk remains for the corrective rise from last bank week’s low of 1.2751 to bring retracement of recent decline to p...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: GBP/USD – Sell at 1.5250

Despite intra-day rise to 1.5259, lack of follow through buying and loss of upward momentum suggest price would falter below last bank week’s high of 1.5280 and bring retreat...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: USD/CHF – Sell at 0.9505

Yesterday’s selloff together with the breach of previous support at 0.9467 suggest the recoil from 0.9354 has ended at 0.9555 and further consolidation within early e...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png RBA Remains Dovish, Leaving Cash Rate At Record Low Of 3%
(GAINSY Technical Analysis)

As expected, the RBA left the cash rate unchanged at 3% in April. Policymakers stated that the current economic conditions justified leaving interest rates at a record low. Yet, the inflation outlook suggested that further easing is possible. Domestic economic growth was close to trend last year. However, the RBA...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png USDJPY Breaks Uptrend, Headed Lower. AUD Awaits RBA

Stocks were lower in the US overnight after some data printed weaker than expected and the fact that stocks held in as well as they did is testament to the policies of QE and their ability to prop the market up. In the US the PMI rose to 54.6 from...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Fundamental Update: The RBA

The Reserve Bank of Australia is widely expected to keep the official cash rate (OCR) at 3.00% at a policy meeting later today, citing recent strong domestic economic indicators and mixed conditions offshore. However, there is the possibility of another rate cut/s later this year if the Australian dollar strengthens...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png RBA Keep Its 3% Interest Rate Unchanged In April

The Reserve Bank of Australia and its board members decided today to keep the nation’s cash rate unchanged in April amid the recent suitable economic environment in Australia as well as Asia’s current stability. The Reserve Bank of Australia decided to keep its nation’s benchmark interest rate unchanged for another...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Fundamental Update: More Of The Same From The RBA

The RBA elected to leave the official cash rate on hold at 3.00%, citing slightly below trend growth and target levels of inflation. The bank retained a modest easing bias using its well-worn line that inflation provides scope for further easing if needed to stimulate demand. Then again, the bank...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png GBP/USD: GBP Inches Higher As Lloyds Business Sentiment Improves

The pair is expected to find support at 1.5197, and a fall through could take it to the next support level of 1.5148. The pair is expected to find its first resistance at 1.5277, and a rise through could take it to the next resistance level of 1.5308....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png AUD/USD: Aussie Rises As Interest Rates Remain Unchanged At 3.0%

The pair is expected to find support at 1.0409, and a fall through could take it to the next support level of 1.0351. The pair is expected to find its first resistance at 1.0503, and a rise through could take it to the next resistance level of 1.0539....

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png USD/JPY: BoJ Governor Reaffirms To Attain 2% Inflation In Two Years, JPY Trading Higher This Morning

The pair is expected to find support at 92.17, and a fall through could take it to the next support level of 91.61. The pair is expected to find its first resistance at 93.69, and a rise through could take it to the next resistance level of 94.64....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png USD/CHF: Swiss Franc Trading Higher This Morning, SVME PMI Awaited

The pair is expected to find support at 0.9423, and a fall through could take it to the next support level of 0.9394. The pair is expected to find its first resistance at 0.9502, and a rise through could take it to the next resistance level of 0.9552....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png USD/CAD: Loonie Continues To Trade Higher This Morning

The pair is expected to find support at 1.0140, and a fall through could take it to the next support level of 1.0126. The pair is expected to find its first resistance at 1.0176, and a rise through could take it to the next resistance level of 1.0198....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png EUR/USD: Euro Rises In The Asian Session

The pair is expected to find support at 1.2802, and a fall through could take it to the next support level of 1.2735. The pair is expected to find its first resistance at 1.2907, and a rise through could take it to the next resistance level of 1.2945....

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: USD/JPY – Sell at 94.05

Despite intra-day initial fall to 92.57, as the greenback has recoiled in part due to cross-trading, suggesting consolidation above this level would be seen and recovery to...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: EUR/USD – Sell at 1.2935 or buy at 1.2800

Although euro has retreated after intra-day initial rise to 1.2878, reckon the Ichimoku cloud (now at 1.2797-00) would limit downside and bring another rise, above said...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: GBP/USD – Sell at 1.5235

Despite intra-day rise to 1.5259, lack of follow through buying and loss of upward momentum suggest price would falter below last bank week’s high of 1.5280 and bring retreat...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: USD/CHF – Sell at 0.9505

Yesterday’s selloff together with the breach of previous support at 0.9467 suggest the recoil from 0.9354 has ended at 0.9555 and further consolidation within early e...

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(GAINSY Elliott Wave Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Elliott Wave Forecast: AUD/USD – Buy at 1.0410

Despite yesterday’s brief fall to 1.0386, the subsequent recoil suggests the pullbhack from 1.0497 (last bank week's high) has ended and test of this level would be seen, fracture there would extend the rise from 1.0116 low (bottom of 2nd c leg of complex correction) to 1.0510-15 and then 1.0550 but...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Elliott Wave Forecast: EUR/JPY – Hold long entered at 119.20

Although the single currency has remained under pressure and marginal weakness from here cannot be ruled out, outlook remains consolidative and previous support at 118.80 (a leg trough of wave iv) should hold and bring recoil later, above resistance at 120.96 would bring recoil to 121.98-00, fracture there would suggest...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Daily Statement: USD Weighed Down by Data, Aussie Stronger after RBA
(GAINSY Technical Analysis)

USD is still feeling the weight from yesterday's ISM manufacturing index as it remains broadly soft. In particular, there is some more profit taking that drives the USD/JPY down ahead of BoJ meeting. Euro recovered against dollar overnight but strength is so far limited with EUR/USD staying below 1.29 level....

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro Well Supported Ahead Of PMI Data

The risk appetite remained mitigated overnight before the official Easter Holidays came to its end in Europe and the talks between Cypriot officials, EU and IMF restart today. The holiday markets saw the lowest liquidity over the past twelve months. In Australia, the RBA kept its overnight cash rate unchanged...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro Erases Losses Ahead Of Draghi Conference

The euro (EUR) erased previous losses amid thin trading yesterday against the US dollar (USD). The single currency, currently above 1.2860, had come under pressure in the past few bank weeks due to the unprecedented Cyprus bailout deal and uncertainty over the government in Italy following elections last month. Looking ahead,...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Profit Taking On USD Longs

The dollar fell prey of some profit taking across the board as the US ISM of the manufacturing sector was weaker than expected. Some euro short-covering helped the euro, too. EUR/USD and EUR/GBP are off the recent lows, but any sustained euro recoil will remain an uphill battle...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Manufacturing Updates Attract Investors After Easter Weekend

European markets are back following the Easter bank weekend to kickoff a busy session starting with a bunch of manufacturing updates scheduled for Tuesday, as the economic agenda brings the latest news on the Purchasing Managers` Indexes for Germany and Britain....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png European Manufacturing Shows Widening Contraction In March, Euro Pares Advance

European manufacturing showed a widening contraction in Mar., to add to worries the euro area economy will show another contraction in the first quarter. PMI manufacturing and services showed another contraction in March, where the contraction widened to 46.8 from initial estimate of 46.8 and 47.9 in Feb., according to...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png European Stocks Fluctuate On Weak Data Following Easter Break

U.S. manufacturing report raised economic worries ahead of U.S. nonfarm pay rolls report and other data later this bank week. The Institute of Supply Management (ISM) report showed on Monday U.S. factory activity was at 51.3 in March at the slowest rate in three months. That was slower than the anticipated...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro-Zone Contraction Deepens

As the Easter holidays come to the end, the heavy economic calendar should provide some direction to the FX markets in the coming days. On April 3-4th, the Board Policy Meeting in Japan is expected to announce concrete policy measures, while ECB will give its verdict on the policy rate...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro Wobbles On Negative Data, Italy Political Uncertainty Weighs

The single currency was overshadowed with the start of the bank weekly trade, particularly after a raft of downbeat economic data out of the euro area, indicating manufacturing activity remains a hinder and unemployment stepped up to a new record in last month....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Is The EURO A Good April Fool Joke?

It was not even an April fool prank just do not take dollar strength for granted. The mighty dollar decreased its guard yesterday and lost some of the previous night's gained ground in the wake of a lower than expected US March ISM manufacturing data. It was only last...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png EUR Declines on Data Bloodbath

The FX market is a capricious beast yesterday the dollar was sold, today it's been bought. A trend has been hard to find in these stop-start markets as traders struggle to see a clear path of where currencies go next. Interestingly, European stocks have bucked the trend set by...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: GBP/USD – Sell at 1.5180
(GAINSY Ichimoku Analysis)

As intra-day decline from 1.5259 has gathered momentum, adding credence to our view that recoil from 1.5092 has ended at 1.5259 and near term downside bias remains for...

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