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Trade Idea Wrap-up: USD/CHF - Sell at 0.9750

As the greenback has remained under pressure after this week's selloff from 0.9951, adding credence to our view that top has been formed there and bearishness remains for this fall to bring retracement of recent rise from 0.9521, hence further weakness to 0.9625-30 (1.236 times projection of 0.9951-0.9793 measuring from

Trade Idea Wrap-up: GBP/USD - Buy at 1.3185

Cable has rebounded again in NY morning after the release of US GDP data and test of previous resistance at 1.3315 would be seen, however, break there is needed to retain bullishness and extend the corrective rise from 1.3058 low towards 1.3340-50, however, as outlook remains consolidative, reckon upside would

Trade Idea Wrap-up: EUR/USD - Buy at 1.1120

The single currency has surged again after brief pullback on dollar's broad-based weakness after GDP data, adding credence to our view that early erratic rise from 1.0912 low has resumed and further gain to 1.1200-10, then 1.1230 would be seen, however, near term overbought condition should prevent sharp move beyond

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

As the greenback has fallen again after brief bounce to 103.97, suggesting the selloff from 107.49 is still in progress and may extend weakness to 102.00, then towards 101.70-75, however, oversold condition should prevent sharp fall below 101.45-50 and price should stay well above 100.85-90 (1.618 times projection of 107.49-103.99 measuring from 106.55).

Trade Idea: EUR/GBP - Hold long entered at 0.8390

The single currency found buying interest at 0.8387 and rebounded again, retaining our bullishness for the erratic rise from 0.8251 to extend further gain to 0.8490-00, however, break there is needed to signal the fall from 0.8628 top has ended, bring a stronger rebound to 0.8525-30 but price should falter

Trade Idea : USD/CAD - Stand aside

The greenback met renewed selling interest at 1.3192 and has dropped again today, dampening our bullishness and suggesting top has possibly been formed at 1.3254 earlier this week, hence consolidation with downside bias is seen for test of support at 1.3024, below there would add credence to this view and

Second Quarter Growth Disappoints Despite Consumption Strength
Real GDP increased by an annualized 1.2% in the second quarter of 2016 according to the advance BEA estimate, or about a half of the expected growth rate of 2.5%. To make matters worse, growth in the first quarter was also revised down from 1.1% to just 0.8%. Personal consumption led

Bank of Japan Eases Less than Expected
Yesterday the Bank of Japan (BoJ) decided to ease monetary policy by almost doubling its annual purchases of ETFs to 6 trillion yen from 3.3 trillion yen. In addition, the bank doubled its U.S. dollar lending program to overseas firms to $24 billion USD from $12 billion USD. Lastly, the

Trade Idea Update: USD/CHF - Sell at 0.9750

As the greenback has remained under pressure after this week's selloff from 0.9951, adding credence to our view that top has been formed there and bearishness remains for this fall to bring retracement of recent rise from 0.9521, hence further weakness to previous support at 0.9685, then 0.9650 would be

USD/CHF Mid-Day Outlook
USD/CHF's fall from 0.9949 extends today and intraday bias remains on the downside. The consolidation pattern from 0.9443 should have completed at 0.9449 and larger decline might be resuming. Break of 0.9684 will target 0.9443/9520 support zone first.

Trade Idea Update: GBP/USD - Buy at 1.3090

Cable has rebounded again in NY morning after the release of US GDP data and test of previous resistance at 1.3291 would be seen, however, break there is needed to retain bullishness and extend the corrective rise from 1.3058 low towards 1.3315 resistance, however, as outlook remains consolidative, reckon upside

USD/JPY Mid-Day Outlook
Intraday bias in USD/JPY remains on the downside for 98.97/99.98 support zone. As noted before, current developments maintain bearish outlook is the pair as firstly, rebound form 98.97 to 107.48 is corrective. Secondly, the pair is bounded inside a near term falling channel. Break of 98.97 will target next fibonacci level at 94.77.

GBP/USD Mid-Day Outlook
Current development argues that the corrective pattern from 1.2794 is still in progress. Above 1.3480 will bring stronger rebound. But in that case, upside should be limited by 50% retracement of 1.5016 to 1.2794 at 1.3905 to bring down trend resumption. On the downside, break of 1.2794 will target next long term projection level at 1.2457.

Trade Idea Update: EUR/USD - Buy at 1.1120

The single currency has surged again after brief pullback on dollar's broad-based weakness after GDP data, suggesting early erratic rise from 1.0912 low has resumed and further gain to 1.1187 resistance would be seen, however, break there is needed to add credence to this view, bring headway to 1.1200-10, then

Yen Jumps as BoJ Stays Pat, US GDP Disappoints
The Japanese yen has posted strong gains on Friday. In the North American session, USD/JPY is trading at 102.80. On the release front, Japanese consumer inflation and consumer spending indicators disappointed. Tokyo Core CPI posted a decline of 0.4%, while Retail Sales dropped 2.2%. The Bank of Japan surprised the

EUR/USD Mid-Day Outlook
EUR/USD's rise from 1.0951 continues today and intraday bias remains on the upside. Consolidation pattern from 1.0911 is extending with another rise. Further rally would be seen to 1.1185 and possibly above. But upside should be limited well below 1.1426 resistance. We're still expected the decline from 1.1615 to resume

Mid-Day Report: Dollar Dives on GDP, Yen Maintains Post BoJ Gains
Dollar is under some selling pressure against Euro in early US session as GDP missed expectation. Q1 GDP showed 1.2% growth only versus expectation of 2.6%. The data could raise some doubts on whether Fed will hike interest rate this year. GDP price index rose 2.2%. Employment cost index rose

Trade Idea Update: USD/JPY - Stand aside

As the greenback has retreated again after meeting resistance at 103.97, suggesting another test of support at 102.71 would be seen, break there would extend the fall from 107.49 to 102.50, then towards 102.10-20, however, oversold condition should limit downside to 101.70-75, risk from there has increased for another rebound later.

Are Central Banks Running Out of Options?
In the Bank of Japan's (BoJ) case, it may be so, as Governor Kuroda and his fellow monetary policy members disappointed the market overnight with its modest stimulus package. Of late, Kuroda has had a high probability of disappointing investors and last nights monetary policy announcement was no different. The modest dose

European Session: Orders and Options Watch
EUR: The single currency has risen again in European morning, offers at 1.1100-05 were filled but sell orders are reported at 1.1120-25, 1.1150 and 1.1165, selling interest is tipped at 1.1180, 1.1200 and 1.1230, mixture of offers and stops is located at 1.1250. On the downside, bids are seen at

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