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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 |
Daily Report: Markets Stuck in Range, Little Reaction to Poor Chinese DataMarkets are rather directionless as the week starts as major pairs are stuck in tight range. Yen is a touch weaker but loss is so far limited. Aussie also dipped mildly after weak Chinese data but quickly recovered. The flash Chinese PMI compiled by HSBC/Markit fell to an 8-month low of 48.1 in March from 48.5 a month ago. The market had anticipated a pickup to 48.7. the flash reading of the manufacturing output index plunged to a 18-month low of 47.3 last month. The disappointing reading indicated further moderation of China's growth momentum. According to HSBC, "weakness is broadly-based with domestic demand softening further". China is expected to "launch a series of policy measures to stabilize growth. Likely options include lowering entry barriers for private investment, targeted spending on subways, air cleaning and public housing, and guiding lending rates lower". |
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| Featured Technical Report | |
EUR/GBP Daily OutlookDaily Pivots: (S1) 0.8345; (P) 0.8358; (R1) 0.8373; More.... Intraday bias in EUR/GBP remains neutral for the moment and some more consolidations would be seen below 0.8399 temporary top. But near term outlook stays cautiously bullish as long as 0.8286 resistance turned support holds. We're favoring the case that larger consolidation pattern from 0.8806 has completed at 0.8157 after hitting 0.8164 key support. Above 0.8399 will target 0.8466 resistance next. However, break of 0.8286 will dampen our view and argue that another low below 0.8157 could be seen as the correction from 0.8806 extends. |
| Economic Indicators Update |
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| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency traded sideway today as price consolidating this week's selloff, offers at 1.3800 were filled but sell orders are still noted at 1.3810 and in good size at 1.3830-50 area with stops building up above 1.3850, more sell orders are located at 1.3880 and 1.3900-15. On the downside, bids are reported at 1.3765 and 1.3745-50 (stops below), fresh buying interest is tipped at 1.3700-10 and further out at 1.3670-80. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.8300Although the single currency has rebounded after finding support at 0.8329 yesterday, as long as this week's high of 0.8400 holds, further consolidation is in store, risk of another corrective fall to said support cannot be ruled out, however, renewed buying interest should emerge around 0.8300 and bring upmove later, above said resistance at 0.8400 would extend the rise from 0.8158 low for at least a strong retracement of recent decline to 0.8425-30 Trade Idea: USD/CAD - Hold long entered at 1.1180As the greenback has retreated quite sharply after rising marginally to 1.1279, suggesting consolidation below this level is in store, however, still reckon support at 1.1153 would limit downside and bring another rise later, above said resistance at 1.1279 would extend recent upmove in wave (v) to 1.1300 and possibly towards 1.1350 but loss of upward momentum should limit this wave (v) of of wave iii to 1.1400 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
Technical Highlights
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