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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Market Overview | Markets Snapshot |
Daily Report: Sentiments Firm on Hope for Chinese StimulusAsian equities are mildly higher as the week starts on hope of Chinese stimulus but gain is so far limited. The forex markets are steady in generally with mild weakness seen in Australian dollar ahead of tomorrow's RBA rate decision. Other commodity currencies, Kiwi and Loonie, are firm. Dollar and yen are the weakest currency next to Australian dollar. While more consolidation would likely be seen ahead of the key event risks later in the week, some important economic data today could trigger volatility, in particular in Euro and the Loonie. |
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| Featured Technical Report | |
EUR/JPY Daily OutlookDaily Pivots: (S1) 140.35; (P) 141.00; (R1) 142.04; More... Intraday bias in EUR/JPY remains neutral for the moment. Price actions from 145.68 are viewed as a correction that's not completed yet. Below 139.95 will affirm the case that fall from 143.78 is the third leg and bring deeper decline back to 136.22 low and below. However, above 141.88 minor resistance will argue that rebound from 136.22, as the second leg of the consolidation pattern, is going to extend above 143.78 before completing and start the third leg. |
| Economic Indicators Update |
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| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: Despite falling initially to 1.3705 in European morning on weak data from eurozone, the single currency reversed from low in part due to weekend short-covering, offers at 1.3755-60 and stops above there were cleared, however, sell orders are still noted at 1.3775-85, 1.3820-40 area and further out at 1.3860-70 (sizeable stops above), mixture of offers and stops remains at 1.3900. On the downside, bids are raised to 1.3725-30 and indicated buy orders are still noted at 1.3695-05, more buying interest is tipped at 1.3660-70 with bigger stops placed below 1.3650. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: USD/CAD - Sell at 1.1170Despite intra-day marginal fall to 1.1001, as the greenback found support just above figure and has rebounded, suggesting minor consolidation would be seen and mild upside bias is seen for recovery to 1.1100-10, however, reckon upside would be limited to 1.1170-80 and bring another decline. We are keeping our view that wave (v) of iii has ended at 1.1279 and wave iv correction is unfolding for retracement of recent upmove Trade Idea: EUR/GBP - Hold long entered at 0.8280As the single currency has remained under pressure, suggesting near term downside risk remains but as long as 0.8245 holds, prospect of another rebound is seen, above previous support at 0.8325-30 would suggest low is possibly formed and bring rebound to 0.8370 but only break of resistance at 0.8400 (last week's high) would signal another leg of rise from 0.8158 low is underway for at least a strong retracement of recent decline to 0.8425-30 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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