 |  |
| 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: Dollar Mixed after Retail Sales ReleaseThe greenback remains mixed for in early US session has little response to the economic data released. Retail sales rose 0.2% in December versus expectation of 0.3%. Ex-auto sales rose 0.7% versus consensus of 0.4%. Import price index rose 0.0% mom in December versus expectation of 0.5%. Dollar continues to recover against Aussie and yen. But it's mildly softer against Sterling. Also the greenback is stuck in tighter range against Euro and Canadian dollar. Philadelphia Fed Plosser and Dallas Fed Fisher will speak today and a focus is on their views on the disappointing employment data in December. |
 |
| Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.6320; (P) 1.6414; (R1) 1.6481; More... GBP/USD recovers mildly but after al it's staying in middle of range of 1.6126/6603. Intraday bias remains neutral for some more sideway trading. Price actions from 1.6603 are viewed as a consolidation pattern. 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. |
| FX Outlook 2014 |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bullish in USD, Low Inflation As Downside RiskWe hold a bullish view over the US dollar for 2014, expecting it to outperform the euro and the pound, as well as to maintain the upside momentum against the Japanese yen. Fed’s announcement to begin QE tapering last December, together with relatively optimistic growth outlook of the world’s largest economy, should prove supportive for the greenback. As investors turn their focus to US economic data to gauge the Fed’s pace of tapering, strong dataflow should give further boost to the currency. Yet, the major risk to USD’s strength lies on inflation as the Fed might need to slow the pace of tapering should inflation remain low for a prolonged period. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2014 Elliott Wave Forecast | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Economic Indicators Update | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency moved higher and offers at 1.3670-90 area were filled but indicated sell orders at 1.3700 capped euro's upside so far, mixture of offers and stops is still seen above 1.3700, more selling interest is tipped at 1.3725-35 and further out at 1.3750. On the downside, buy orders are still noted at 1.3625-30 and 1.3590-00, mixtures of bids and stops are located at 1.3565-70 and in good size at 1.3540-50, more buy orders are tipped at 1.3520-30 and 1.3500-10 with bigger stops building up below 1.3485-90. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: EUR/USD - Buy at 1.3630Euro's near term sideways trading is likely to continue and if our view that a temporary low has been formed at 1.3548 last week is correct, downside should be limited to 1.3630 and bring another rebound later 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 Trade Idea Update: USD/JPY - Sell at 104.15Although dollar has recovered after falling to 102.86 yesterday and consolidation above this level would be seen, reckon upside would be limited to the Ichimoku cloud bottom (now at 103.98) and the upper Kumo (now at 104.31) should hold and bring another decline later. A break of said support at 102.86 would extend the decline from 105.44 top for correction of early upmove to 102.70-75 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
Technical Highlights | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
  |
| ||||||||
No comments:
Post a Comment