 |  |
| 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: Selloff in Global Equities Continue, But Yen RetreatsThe selloff in global equities markets continue today with major European indices trading deeper in red. UK FTSE is most hit so far, losing over -3% with additional selling pressure triggered by profit warnings. Asian equities tumbled sharply with Nikkei closed down -2.5% at 15005 and barely hold on to 15000 level. Nonetheless, US futures point to slightly higher open and we'd possibly seen a mild recovery after DOW suffered nearly -2% loss on Friday. Dollar index is steady in right range around 80.50. |
 |
| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 101.63; (P) 1102.61; (R1) 103.22; More... USD/JPY recovers after initial fall to 101.76. But with 102.98 minor resistance intact, intraday bias remains mildly on the downside for another decline. As noted before, the bearish divergence condition in daily MACD raises the change of medium term topping at 105.41. Deeper fall would be seen to 100.61 support next and break will confirm this bearish case. On the upside, above 102.98 minor resistance will turn bias neutral and bring stronger recovery first. |
| FX Outlook 2014 |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
GBP To Outperform Euro, Underperform USDStrong economic growth in the UK should support GBP against other key European currencies, resulting in our forecasts that the pound would strengthen against both the euro and the defensive Swiss franc. UK's job market has improved significantly and the BOE would likely revised lower its threshold of unemployment rate that might lead the consideration of a rate hike. Yet, the revision should only have short-term, if any, negative impacts, on sterling. With domestic demand the key driver of recent growth, the economic environment in the country should allow greater tolerance of currency strength. We remain cautious in GBPUSD, anticipating the pair to fall this year amid expectations that US' growth would be stronger. Moreover, the Fed's kickoff of QE tapering vs BOE's sidelined stance could widen the yield differential. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Special Reports | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emergent Market Selloff Triggered by Mix of Domestic and Global FactorsSelloff in emerging markets late last week has hit global financial markets. As investors took profits from risky assets, they parked their capitals in safe-havens, sending Japanese yen, Swiss franc and gold, higher. While some attributed the selloff to Fed's tapering and concerns over China's slowdown and potential credit crunch, declines in some emerging market currencies such as Turkish lira and Argentina peso were mainly driven by domestic factors. Yet, coincidence of these factors with concerns over the Fed's tapering and China's disappointing data release might have triggered a bigger impact on the market than on any other occasions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Economic Indicators Update | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency slipped again on dollar's broad-based rebounded after last week's selloff, bids at 1.3660-70 were filled but buy orders are still noted at 1.3650, more bids are tipped at 1.3620-30, 1.3600 and in good size at 1.3580, fresh demand should emerge around 1.3530-40 as well as 1.3500-10 (stops below). On the upside, offers are lowered to 1.3685-90 and also at 1.3715-20, more sell orders in good size are tipped from 1.3730 up to 1.3750 with stops building up above barrier at 1.3750, fresh selling interest should emerge around 1.3775-80 and further out ahead of next barrier at 1.3800. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: USD/CHF - Sell at 0.9000Although the greenback has recovered after falling to 0.8903 on Friday and minor consolidation above this level is in store, last week's selloff from 0.9157 suggests near term downside risk remains for further weakness to 0.8880-90, however, as broad outlook is still consolidative, reckon downside would be limited to 0.8860 support and price should stay well above 0.8799 recent low, bring another rise later. Trade Idea Update: EUR/USD - Buy at 1.3640As the single currency has slipped again after intra-day brief bounce to 1.3717, retaining our view that further consolidation below Friday's high of 1.3740 would be seen and correction of recent rise towards 1.3635 (50% Fibonacci retracement of 1.3530-1.3740) before prospect of another rise later, above said intra-day resistance at 1.3717 would bring retest of 1.3740 but break there is needed to extend recent rise to 1.3760 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