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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 |
Mid-Day Report: Yen Strength Continues, Euro Supported by Italian AuctionsYen strength remains the main theme in the markets as the week starts. Sterling is, on the other hand, the weakest currency so far on concern of slowdown in the recovery. Euro, on the other hand, is firm after positive Italian bond auctions. Italian treasury sold EUR 8.2b in bonds today, the biggest auction since May 2011, close to maximum target of EUR 8.25b. That include EUR 4b in a new three year note which was sold at 1.51% yield, down from prior 1.79% and hit a record low. Bid-to-cover ratio, though, dropped to 1.38, comparing with prior 1.80. Also, EUR 1.7b in 2028 bonds were sold at 4.26% yield, bid-to-cover ratio at 1.29. EUR 2.5b in 2021 bond were sold with yield at 3.17%, bid-to-cover ratio at 1.38. |
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| Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.6399; (P) 1.6458; (R1) 1.6535; More... Intraday bias in GBP/USD remains neutral for the moment. Price actions from 1.6603 is viewed as a consolidation pattern. Today's dip suggests more downside could be seen. But again, as long as 1.6126 support holds, near term outlook stays bullish and another rally is expected. Above 1.6603 will target 61.8% projection of 1.4813 to 1.6259 from 1.5853 at 1.6747, which is close to 1.6476 next medium term resistance. However, considering bearish divergence condition in daily MACD, break of 1.6216 will have some bearish implications and would bring deeper fall back to retest 1.5853 support. |
| 2014 Elliott Wave Forecast |
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| Orders and Options Watch | ||||||||||||||||||||||||||||
US Session: Orders and Options WatchGBP: The British pound dropped today since London morning on active selling by real money accounts, bids at 1.6420-30 were filled, mixture of bids and stops at 1.6370-80 is in focus, more buy orders are located at 1.6350,1.6325-35 , and 1.6300-10. On the upside, offers are lowered to 1.6470-80 and also in good size at 1.6515-20 (stops above), more selling interest should emerge around 1.6540-50 with stops placed above 1.6550, sell orders are located at 1.6580-00 area with some stops placed above 1.6610. | ||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||
Trade Idea Update: USD/CHF - Sell at 0.9070The greenback met renewed selling interest at 0.9091 and tumbled on Friday on back of weaker-than-expected NFP data, justifying our bearish view that a temporary top has been formed at 0.9127 and bearishness remains for correction of the rise from 0.8799 to 0.9000-02 (38.2% Fibonacci retracement of 0.8799-0.9127) and then support at 0.8988 but downside is likely to be limited to 0.8963 Trade Idea Update: EUR/USD - Buy at 1.3630As the single currency has maintained a firm undertone after Friday's post-NFP rally to 1.3687, adding credence to our view that a temporary low is formed at 1.3548 last week and consolidation with upside bias remains for correction of recent decline to 1.3721-28 (50% Fibonacci retracement of 1.3894-1.3548 and previous support), however, reckon upside would be limited to 1.3762-65 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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