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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
| Calendar | Elliott Wave Trades | Markets Volatility | Pivot Points | Heat Map | Daily Fundamentals |
| Action Insight Market Overview | Markets Snapshot |
Daily Report: Yen Extends Losses as Iran Deal Lifts SentimentsYen weakens broadly as the week starts as risk appetite continues to drive the financial markets. Asian equities opened broadly higher on news that Iran has agreed to limit its nuclear program. USD/JPY rose to as high as 101.80 so far today and breached 101.53 resistance. The pair is now in an important near term resistance zone between 101.53/103.73 and we'd start to be cautious on reversal. EUR/JPY also followed and rose to as high as 137.34 so far while GBP/JPY jumps to 165.17. Elsewhere, dollar remains soft against European majors. The greenback is attempting to recover but buying momentum is minimal. Aussie and Canadian are stuck in tight range against the dollar too. |
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| Featured Technical Report | |
GBP/JPY Daily OutlookDaily Pivots: (S1) 163.71; (P) 164.03; (R1) 164.57; More..... GBP/JPY rises further to a high as 165.17 so far today and intraday bias remains on the upside. Current rally is still in progress for 168.11 long term fibonacci level next. On the downside, below 163.51 minor support will turn bias neutral and bring consolidations first. But retreat should be contained well above 159.98 resistance turned support and bring another rise. |
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| Orders and Options Watch | |||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency continued to edge higher on release of better-than-expected German data, however, offers are still noted at 1.3540-50 (stops above) and further out at 1.3580, mixture of offers and stops is located at 1.3600 (option barrier). On the downside, bids are raised to 1.3490-00 and in good size at 1.3450-60 (stops below 1.3440), more buy orders are reported at 1.3430 and 1.3400 (more stops below), fresh demand should emerge around 1.3385, 1.3370 and 1.3350. | |||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||
Trade Idea: USD/CAD - Buy at 1.0450As the greenback has rallied after breaking indicated resistance at 1.0526, suggesting recent upmove is still in progress and may extend further gain towards recent high of 1.0609, however, above there is needed to retain bullishness and extend recent upmove from 1.0182 low (wave (c) bottom) to 1.0650-60 and later towards 1.0700-10 which is likely to hold Trade Idea Wrap-up: USD/JPY - Buy at 100.60Dollar's near term sideways trading is expected to continue and as long as indicated resistance at 101.35 holds, near term downside risk is seen for pullback to 100.75 (38.2% Fibonacci retracement of 99.79-101.35), however, reckon previous resistance at 100.43 would turn into support and limit dollar's downside, bring another upmove later. A break of said resistance at 101.35 would extend recent upmove to previous resistance at 101.54 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||
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Fundamental Highlights
Technical Highlights | |||||||||||||||||||||
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