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Elliott Wave Analysis of EUR/JPY for May 10, 2016 Wave summary: With the break above resistance at 123.53 we have seen another strong indication that a firm bottom is in place with the 121.46 low. In the short term, we will now be looking for support near 123...

Daily Analysis of USDX for May 10, 2016 The greenback is still trading with a bullish bias held since the May 3rd session. Now it's breaking the resistance level of 94.06 to the upside in order to extend gains toward the 94.56 level...

Daily Analysis of GBP/USD for May 10, 2016 On H1 chart, GBP/USD is doing a bearish consolidation below the resistance level of 1.4430, waiting for further declines towards the 1.4316 level...

GBP/USD Downside Alleviated Above 1.45 – UOB Analysts at UOB Group argued GBP/USD needs to clear 1.45 in order to gain further upside bias. Key Quotes “In line with expectation, the initial bounce in GBP held below 1.4505 (high of 1.4480) but the subsequent drop exceeded the 1.4400 target...

FxWirePro: Gold Trading in Narrow Range, Good to Buy Above $1268 XAU/USD is currently trading around $1266 mark. It made intraday high at $1267 and low at $1259 levels. Intraday bias remains bullish till the time pair holds immediate support at $1258 marks...

FxWirePro: DXY Faces Strong Support at 93, Good to Buy at Dips Major resistance- 94.13 (21 day MA) US dollar index has recovered from the low of 93.80 yesterday and closed near to its high (94.20) around 94.15. It is currently trading around 94.04...

Yen Slips As Aso Talks Intervention Japanese finance minister Taro Aso spelled the “I” word for second consecutive day, indicating that Government may be nearing its patience level on Yen. He said Tokyo is ready to intervene if Yen exerts too much volatility, hurting the economy...

FxWirePro: USD/CHF Faces Strong Support at 0.9630, Good to Buy at Dips Major resistance- 0.9800 Major intraday resistance – 0.9735 Major support – 0.9630 USD/CHF has declined till 0.9684 yesterday and pared its losses in US session. It is currently trading around 0.97101...

AUD/USD Gains on Stable China Inflation, 100-DMA Eyed The Australian dollar gained against the USD after data showed China inflation figures, which was in line with expectations, indicating signs of a rebound in the Chinese economy...

USD/JPY Underpinned by 105.86/38 – Commerzbank In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains supported by the 105.86/38 area. Key Quotes “USD/JPY last week sold off towards and reversed from the 200 month and 200 week moving averages at 105.86/38...

USD/JPY Firmer, Closer to 109.00 The Japanese currency continues to depreciate on Tuesday, now taking USD/JPY to trade at shouting distance from the key barrier at 109.00...

EUR/JPY Reclaims 124.00 Handle Global risk-on sentiment continues to drag JPY lower against most major currencies, with the EUR/JPY pair extending its recovery from 122.00 handle to move back above 124.00 mark...

JPY: Finance Minister Aso Continues to Talk Up Intervention Threat - MUFG Lee Hardman, Currency Analyst at MUFG, notes that the yen has continued to weaken in the Asian trading session leaving USD/JPY on course to increase for the sixth trading day out of the last seven as initial sharp yen gains...

Long Live FXRreturns - Deutsche Bank George Saravelos, Strategist at Deutsche Bank, notes that the international press is replete with stories of poor investor returns and discretionary fund closures this year...

Too Soon to Buy the USD: Look to Sell on Rallies - BNPP Research Team at BNP Paribas, suggests that the firming of the USD vs EUR and JPY over the past 24hrs suggests that the market is increasingly uncomfortable maintaining current levels of short USD exposure...

USD/CAD Tracks Oil Recovery, Drops Below 1.2950 Tracking a sharp slide in crude oil prices on Monday, the USD/CAD pair moved above 1.3000 key psychological level but faded back below mid-point of 1.3000-1.2900 level on Tuesday...

FxWirePro: Chinese Yuan falls As China's CPI Remains Stable in April USD/CNY is currently trading around 6.5198 marks. It made intraday high at 6.5224 and low at 6.5140 levels. The CPI rose 2.3% year-on-year in April, in line with market forecasts and unchanged for the third consecutive month...

NZD/USD: Technical Picture is Bearish - Westpac Imre Speizer, Research Analyst at Westpac, suggests that the NZD/USD has been stronger than expected so far this year, thanks mainly to the US dollar’s decline. Key Quotes “We still expect it to weaken but now target an upgraded 0...

AUD/JPY Extends 3-Day Winning Streak, 80 Handle Tested AUD/JPY extends its recovery mode from three-month troughs, receiving fresh boost from the extension of the risk-on trades in Europe. AUD/JPY advances on yen weakness The AUD/JPY pair now trades +0.66% higher at 79...

NOK-Longs will Have to Wait – Danske Bank Mikael Milhoj, Senior Analyst at Danske Bank, believes NOK could barely react to another ‘on-hold’ stance by the Norges Bank at its meeting later in the week...