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Daily Report: European Majors Firm in Quite MarketsMarkets were rather quite overnight in spite of some mixed economic data from US. DOW edged to new record high at 16120.25 but pared much gain to close nearly flat at 16072.8. S&P 500 also closed nearly flat at 1802.75. Both indices managed to stay above 16000 and 1800 psychological levels respectively. Treasury yields tumbled for another day with 30 year yield closed down at 3.785%, comparing to last week's high of 3.938%. 10 year yield also extended the decline to close at 2.696%, comparing to prior week's 2.839%. Dollar index continues to draw stay in tight range above 80.5 level for the moment. | |
| Featured Technical Report | |
EUR/AUD Daily OutlookDaily Pivots: (S1) 1.4756; (P) 1.4822; (R1) 1.4936; More..... EUR/AUD's rally resumed after brief consolidation and reaches as high as 1.4897 so far. Intraday bias is back on the upside and current rally from 1.4050 would extend to retest 1.5029 resistance. Break will confirm resumption of recent rally and should target 1.5241 long term retracement level next. On the downside, below 1.4708 minor support will argue that consolidation from 1.5029 is extending with another decline and will turn bias back to the downside for 1.4559 support. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency edged higher to 1.3571, offers and stops above 1.3560 were tripped but sell orders are still seen at 1.3580, mixture of offers and stops in good size remains at 1.3600 (option barrier), fresh selling interest should emerge around 1.3625 and 1.3640-50. On the downside, bids are raised to 1.3525-30 and also from 1.3495 down to 1.3475 with stops building up below 1.3470-75, more buying interest is tipped at 1.3450-60 (stops below 1.3440), fresh demand should emerge around 1.3430 and 1.3400 (more stops below). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: USD/CAD - Buy at 1.0500As the greenback has retreated after rising to 1.0583 yesterday, suggesting minor consolidation below there would be seen and pullback to 1.0500 cannot be ruled out, however, bullishness remains for recent upmove to resume after initial sideways trading, above said resistance would encourage for a retest of recent high of 1.0609 but break there is needed to extend the upmove from 1.0182 low (wave (c) bottom) to 1.0650-60 Trade Idea Wrap-up: USD/JPY - Buy at 101.00Dollar's near term sideways trading after yesterday's rise to 101.92 is expected to continue and although pullback to 101.10-15 cannot be ruled out, reckon 100.95-00 would contain downside and bring another upmove, above said resistance at 101.92 would extend gain to 102.00-10, then towards 102.40-50 (100% projection of 97.60-100.43 measuring 99.57) Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
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