euros to dollars charts

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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sterling Tumbles on Poor Production Data, Canadian Dollar Mildly Higher on Jobs Sterling drops sharply earlier today after poor economic data. Industrial production unexpectedly dropped -1.7% mom, -1.2% yoy in April while manufacturing production dropped -1.5% mom, rose 1.3% yoy. Both were sharply below market consensus. PPI input slowed more than expected to 15.7% yoy, PPI output and core were unchanged at 5.3% yoy and 3.4% yoy respectively. Markets are now speculating that BoE won't move before November and more weak economic data will only push the first hike further later. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6327; (P) 1.6397; (R1) 1.6435; More. As noted before, GBP/USD's fall from 1.6546 resumed today and intraday bias remains on the downside for a 1.6058 support. Sustained break there will indicate that whole fall from 1.6744 has resumed too and should target 1.5343 key support next. On the upside, break of 1.6470 resistance is needed to confirm near term reversal. Otherwise, we'll now stay cautiously bearish in the pair. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Featured Technical Report

ECB Mentioned Strong Vigilance on Inflation, Rate Hike in July Likely The June ECB meeting had mixed impacts on euro's movement. While the use of 'strong vigilance' signaled a rate hike next month, mild revisions growth forecast disappointed investors. Concerning sovereign debt problems in Greece, Trichet said the central bank is 'not in favor of restructuring, haircuts and so forth'. Read more...

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GMT Ccy Events Actual Consensus Previous Revised 23:50 JPY Tertiary Industry Index M/M Apr 2.60% 2.70% -6.00% -5.90% 23:50 JPY Domestic CGPI M/M May -0.10% 0.20% 0.90% 02:00 CNY Trade Balance (USD) May $13.10B $19.80B $11.42B 06:00 EUR German CPI M/M May F 0.00% 0.00% 0.00% 06:00 EUR German CPI Y/Y May F 2.30% 2.30% 2.30% 08:30 GBP Industrial Production M/M Apr -1.70% 0.00% 0.30% 08:30 GBP Industrial Production Y/Y Apr -1.20% 1.30% 0.70% 0.20% 08:30 GBP Manufacturing Production M/M Apr -1.50% -0.10% 0.20% 08:30 GBP Manufacturing Production Y/Y Apr 1.30% 3.40% 2.70% 2.20% 08:30 GBP PPI Input M/M May -2.00% -1.00% 2.60% 08:30 GBP PPI Input Y/Y May 15.70% 16.20% 17.60% 17.90% 08:30 GBP PPI Output M/M May 0.20% 0.30% 0.80% 08:30 GBP PPI Output Y/Y May 5.30% 5.30% 5.30% 5.50% 08:30 GBP PPI Output Core M/M May 0.20% 0.30% 0.60% 0.80% 08:30 GBP PPI Output Core Y/Y May 3.40% 3.40% 3.40% 3.60% 11:00 CAD Net Change in Employment May 22.3K 20.0K 58.3K 11:00 CAD Unemployment Rate May 7.40% 7.60% 7.60% 12:30 USD Import Price Index M/M May 0.20% -0.70% 2.20% 18:00 USD Monthly Budget Statement May -157.6B -40.5B GBP NIESR GDP Estimate May 0.30%
Forex Trade Ideas
Trade Idea Update: GBP/USD – Buy at 1.6250 Despite intra-day selloff to 1.6215, as cable has rebounded after holding above indicated previous resistance at 1.6210 and a hammer candlestick with a long lower shadow has been formed on the hourly chart, consolidation with mild upside bias is seen for retracement of this week's selloff to the Kijun-Sen (now at 1.6328), then test of previous support at 1.6358 but only break of intra-day resistance at 1.6384 would confirm low has been formed. Read more... Trade Idea: EUR/JPY – Hold long entered at 115.85 The single currency has fallen again today on risk aversion and minor support at 115.21 needs to hold to retain bullishness for another rebound, above intra-day resistance at 116.88 would suggest retreat from 117.90 has ended and bring test of yesterday's high of 117.46. Looking ahead, only a break of said resistance at 117.90 would encourage for the rise from 113.41 to extend gain to 118.60/65 (61.8% Fibonacci retracement of 121.84-113.41) Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400
Suggested Readings
Fundamental Highlights Canadian Employment for May Trichet Sinks Euro - Redux UK Manufacturing Output Grim in April, Pound Sold A Sloppy End to the Week for Risk EURUSD Weaker On ECB Statement Digesting JCT Technical Highlights EUR/JPY Tests Wedge Pattern Support FX Thoughts for the Day GBP/USD Shows Bullish Reaction after a Harmonic Retracement GBPUSD - Weakens, Tests Lower Prices EUR/USD Correction Continues