Sunday, March 2, 2014

Action Insight Daily Report 3-3-14

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: Yen and Swiss Franc Surged on Ukraine Tensions Yen and Swiss Franc soared in Asian session today as risk sentiments were weighed down by Ukraine tensions. The news headlines were dominated by Russian armies' move into the Crimean region over the week, Russia's parliament unanimously approved President Putin's request to authorize the country's forces to intervene in Ukraine until "the normalization of the political situation" there. The move has not only raised tensions between the 2 countries but also worldwide. Ukrainian Prime Minister Arseniy Yatsenyuk said the country was "on the brink of disaster" while US and other countries in the G7 condemned Russia's "clear violation of the sovereignty and territorial integrity of Ukraine". The group has suspended preparations for the planned G8 summit in Sochi this June. Full Report Here...
Featured Technical Report
USD/JPY Daily Outlook Daily Pivots: (S1) 101.47; (P) 101.88; (R1) 102.21; More... USD/JPY drops to as low as 101.25 so far today and intraday bias remains on the downside for 100.75. Break will resume whole decline from 105.41 and should target 61.8% projection of 105.41 to 100.75 from 102.82 at 99.94 next. Also, note that decisive break of 100.61 key support will have larger bearish implication. On the upside, though, break of 102.82 will indicate that fall from 105.41 might have finished and will turn near term outlook bullish. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update

GMT	Ccy	Events	Actual	Consensus	Previous
21:45	NZD	Terms of Trade Index Q/Q Q4	2.30%	1.90%	7.50%
23:30	AUD	TD Securities Inflation M/M Feb	0.20%		0.10%
23:50	JPY	Capital Spending Q4	4.00%	5.10%	1.50%
1:00	CNY	Non-manufacturing PMI Feb	55		53.4
1:45	CNY	HSBC/Markit Manufacturing PMI Feb F	48.5	48.5	49.5
8:30	CHF	SVME PMI Feb		57.2	56.1
8:45	EUR	Italian PMI Manufacturing Feb		53.7	53.1
9:00	EUR	Eurozone PMI Manufacturing Feb F		53.2	53
9:30	GBP	PMI Manufacturing Feb		56.9	56.7
9:30	GBP	Mortgage Approvals Jan		74K	71.6K
9:30	GBP	M4 Money Supply M/M Jan		0.30%	-1.40%
13:30	CAD	Industrial Product Price M/M Jan		0.90%	0.70%
13:30	CAD	Raw Materials Price Index M/M Jan		2.30%	1.90%
13:30	USD	Personal Income Jan		0.30%	0.00%
13:30	USD	Personal Spending Jan		0.10%	0.40%
13:30	USD	PCE Core M/M Jan		0.10%	0.10%
13:30	USD	PCE Core Y/Y Jan		1.10%	1.20%
15:00	USD	ISM Manufacturing Feb		52	51.3
15:00	USD	ISM Prices Paid Feb		57.2	60.5
15:00	USD	Construction Spending M/M Jan		-0.30%	0.10%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency rallied on higher-than-expected EMU's CPI data, stops above 1.3780 and barrier at 1.3800 were tripped, some offers are reported at 1.3825-30 and mixture of offers and stops is located further out at 1.3850, sizeable sell orders are expected to emerge around 1.3890-00. On the downside, bids are raised to 1.3770-80 and 1.3740-50, some stops are placed below 1.3720, followed by fresh demand around 1.3690-00 and 1.3660-65.

Read more...

Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8230

Despite intra-day fall to 0.8191, as the single currency found good support there and has staged a quick rebound, retaining our view that further consolidation above recent low of 0.8158 (last week's low) would be seen and mild upside bias remains for another test of resistance at 0.8286, break there would add credence to our view that low is possibly formed last week and bring retracement of recent decline to resistance at 0.8300 and possibly 0.8325-30, having said that, reckon upside would be limited to previous resistance at 0.8350

Trade Idea: USD/CAD - Buy at 1.1020

Despite yesterday's rebound to 1.1160, as the greenback has retreated today after holding below this level, retaining our view that further consolidation below 1.1194 (last week's high) would be seen and near term downside risk remains for another corrective fall to 1.1054 (this week's low), break there would bring retracement of recent rise to 1.1015-20 (61.8% Fibonacci retracement of 1.0910-1.1194), however, sharp fall below there should not be repeated and bring another rise later.