Monday, December 30, 2013

Action Insight Mid-Day Report 12-30-13

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Markets Quiet in Holiday Trading, Euro Bid Up

Markets are generally steady in quiet holiday trading today. Major European indices in slightly down while US futures point to a flat open. In the currency markets yen pares back some of today's losses in early US session. Meanwhile, Euro and Swiss Franc are being bid up against dollar. Italy sold EUR 2.5b in 10 year bonds today with yield at 4.11% higher than prior auction's 4.01% around a month ago. On the other hand EUR 3b in December 2018 notes were sold today. The average yield dropped to 2.71% comparing to prior auctions's 2.89% back in October. Markets are perceiving the auction as a successful one. And the yield difference between benchmark 10 year Italian bond and German bunds dropped to 218 basis points lowest level since July 2011.

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Featured Technical Report

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3656; (P) 1.3774 (R1) 1.3863; More....

Near term outlook in EUR/USD remains bullish as long as 1.3625 support intact. Current up trend from 1.2042 is still in progress and above 1.3892 would target 1.4 psychological level and above. However, break of 1.3625 will argue that rise from 1.3294 has completed and turn bias back to the downside.

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Economic Indicators Update

 

GMT Ccy Events Actual Consensus Previous Revised
15:00 USD Pending Home Sales M/M Nov 1.00% -0.60%
Forex Trade Ideas

Remark: Due to X'mas and New Year holidays, next Candlestick and Ichimoku Trade Idea update will be made on 2nd Jan 2014

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

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