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Financial Markets Recover As The Dust Settles
Financial markets across the globe continued to recover as EU officials reminded the UK to activate the exit mechanism as soon as possible in order to start the negotiation over their future relationship. The risk sentiment kept improving overnight with Asian regional equity markets moving further in positive territory. The

Japan's May Retail Sales Fall More Than Expected On Poor Recovery Outlook
Japan's retail sales declined in May for the sixth time in seven months, underscoring policymakers' continued challenge of stimulating growth and reinforcing Prime Minister Shinzo Abe's decision to delay a sales tax increase far into the future. Retail sales fell 1.9% in May from a year earlier, more than a

GDP Revised Up To 1.1% For Q1, Consumers Are More Optimistic
The US economy expanded more than previously estimated during the first three months of the year, but not as sharply as previously estimated, moreover, the overall trend remains vulnerable to a new round of global economic turmoil.According to the Commerce Department, gross domestic product, the most important measure of goods

Forex Technical Analysis
EUR/USD The intraday bias is still positive, for a rise towards 1.1190 resistance area. Initial intraday support lies at 1.1025.

AUD/USD Daily Outlook
Intraday bias in AUD/USD remains neutral for the moment. Corrective rise from 0.7144 should have completed at 0.7642 already and further fall is expected. Break of 0.7284 should add to the case that larger down trend is resuming and target a test on 0.7144 low first. This bearish case will

USD/CAD Daily Outlook
Intraday bias in USD/CAD remains neutral for the moment. Price actions from 1.2460 are still viewed as a corrective pattern and could extend higher. And, above 1.3187 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311. We'll be cautious on strong resistance from there to limit upside. Meanwhile, below

EUR/USD Daily Outlook
Intraday bias in EUR/USD stays neutral for consolidation above 1.0911 low. Price actions could remain volatile but upside attempts should be limited well below 1.1426 resistance and bring fall resumption. Current development indicates that rebound from 1.0517 has completed at 1.1615 already. Below 1.0911 will target 1.0821 support first. Break

GBP/USD Daily Outlook
Intraday bias in GBP/USD remains neutral for consolidation above 1.3120 temporary low. Upside of recovery should be limited by 1.4011 support turned resistance and bring another fall. Below 1.3210 will extend the larger down trend to 100% projection of 1.5929 to 1.3835 from 1.5016 at 1.2922.

Major USD Cross Rates Hardly Affected By Risk-On Rebound
Yesterday, markets of risky assets rebounded, but this risk-on traded hardly filtered through into the currency market. Sterling rebounded, but the move was not really convincing. EUR/USD and USD/JPY also didn't really profit. So, for now there is no clear guide for EUR/USD and USD/JPY trading.

USD/CHF Daily Outlook
USD/CHF is losing some upside momentum but intraday bias remains on the upside for 0.9955 resistance. Rebound from 0.9443 is resuming and break of 0.9955 will confirm near term reversal and target 1.0255/0327 resistance zone. On the downside, below 0.9762 minor support will turn bias neutral first. But downside of

USD/JPY Daily Outlook
Intraday bias in USD/JPY remains neutral for the moment. M0re consolidations would be seen above 98.97 temporary low. In case of stronger recovery, upside should be limited below 106.78 resistance and bring fall resumption. Break of 98.97 will extend the larger down trend from 125.85 to next long term fibonacci level at 100.70.

Asian Market Update: Brexit Relief Rally Continues Despite Tough Talk From EU Leaders
Asian equity markets were on the upswing, tracking the solid gains made in US indices, as post-Brexit worries continue to subside. The duration of the rebound remains unclear however, with quarter-end window-dressing and short-covering cited for this rally. Outside of the improved US consumer confidence and an uptick in Q1

EUR/GBP Daily Outlook
EUR/GBP lost some upside momentum but further rise is expected with 0.8202 minor support intact. Current up trend from 0.6935 should target 100% projection of 0.6981 to 0.8116 from 0.7564 at 0.8699 next. On the downside, below 0.8202 minor support will turn intraday bias neutral and bring consolidations. But downside

EUR/CHF Daily Outlook
The consolidation from 1.0620 temporary low is still in progress and intraday bias stays neutral. Some volatility could be seen but recovery should be limited well below 1.1011 resistance and bring another decline. Below 1.0620 will target 161.8% projection of 1.1198 to 1.0809 from 1.1127 at 1.0498, which is close to medium term fibonacci level at 1.0485.

EUR/JPY Daily Outlook
Intraday bias in EUR/JPY is turned neutral with 4 hours MACD crossed above signal line. Some consolidations could be seen but upside would be limited by 115.49 support turned resistance and bring fall resumption. Below 109.20 will extend the larger down trend to next long term fibonacci level at 107.24.

AUDUSD Could Extend Losses In The Coming Weeks
Given the recent disappointment in the Australian Housing Prices data, the Aussie Dollar could be poised to extend recent bearishness. Specifically, the combination of a host of bearish technicals could exacerbate any losses resulting from weakening fundamental results. What’s more, Friday’s commodity Prices outcome could add fuel to any downtrends

Tuesday's Market Rebound Just A Dead Cat Bounce?
Asian stocks joined the party early Wednesday, as a modest relief rally sent equities higher on both sides of the Atlantic on Tuesday for the first time in three days after Britain voted to leave the European Union. The rally was supported by pound and oil recovery, along with optimism

AUD/USD: Australian New Homes Sales Tumbled Again In May
The pair is expected to find support at 0.7360, and a fall through could take it to the next support level of 0.7312. The pair is expected to find its first resistance at 0.7436, and a rise through could take it to the next resistance level of 0.7464.

EUR/USD: Euro Trading Lower, Ahead Of Germany's CPI Data For June
The pair is expected to find support at 1.1027, and a fall through could take it to the next support level of 1.099. The pair is expected to find its first resistance at 1.1105, and a rise through could take it to the next resistance level of 1.1146.

GBP/USD: Pound Trading Lower, Ahead Of UK's GfK Consumer Confidence Index Data
The pair is expected to find support at 1.3243, and a fall through could take it to the next support level of 1.3168. The pair is expected to find its first resistance at 1.3405, and a rise through could take it to the next resistance level of 1.3492.

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