Action Insight Daily Report 5-1-14

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: Dollar Stays Pressured after FOMC Tapering Dollar was under much pressure since yesterday's disappointing GDP figure and stayed weak after FOMC announced further tapering as widely expected. The dollar index breached 79.50 handle overnight but is now taking a breath at the time of writing. In the currency markets, Canadian dollar remains the strong currency this week, closely followed by Sterling, which gathered some momentum yesterday. Yen is the weakest currency but it's generally stuck in range against other majors. Many European markets are on holiday today but there are Some important economic data scheduled to be released from UK and US. Full Report Here...
Featured Technical Report
USD/CAD Daily Outlook Daily Pivots: (S1) 1.0942; (P) 1.0960; (R1) 1.0978; More... As noted before, the recovery from 1.0857 could have completed at 1.1052 already. Intraday bias is mildly on the downside for retesting 1.0857 first. Break will extend the correction from 1.1278 and should target 50% retracement of 1.0181 to 1.1278 at 1.0730. On the upside, above 1.1052 will turn bias to the upside for extending the recovery from 1.0857. Such rise is viewed as the second leg of the correction pattern from 1.1278. We'd expect strong resistance above 61.8% retracement of 1.1278 to 1.0857 at 1.1117 to bring reversal to start the third leg. 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 Revised 1:00 CNY Manufacturing PMI Apr 50.4 50.5 50.3 1:30 AUD Import Price Index Q/Q Q1 3.20% 1.80% -0.60% 8:30 GBP PMI Manufacturing Apr 55.4 55.3 8:30 GBP Mortgage Approvals Mar 72.0K 70.3K 8:30 GBP M4 Money Supply M/M Mar 0.70% 8:30 GBP M4 Money Supply Y/Y Mar 0.70% 11:30 USD Challenger Job Cuts Y/Y Apr -30.20% 12:30 USD Initial Jobless Claims (APR 26) 319K 329K 12:30 USD Personal Income Mar 0.50% 0.30% 12:30 USD Personal Spending Mar 0.60% 0.30% 12:30 USD PCE Core M/M Mar 0.20% 0.10% 12:30 USD PCE Core Y/Y Mar 1.20% 1.10% 12:30 USD PCE Deflator M/M Mar 0.20% 0.10% 12:30 USD PCE Deflator Y/Y Mar 1.20% 0.90% 14:00 USD ISM Manufacturing Apr 54.2 53.7 14:00 USD ISM Prices Paid Apr 59.3 59 14:00 USD Construction Spending M/M Mar 0.60% 0.10% 14:30 USD Natural Gas Storage 49B
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency dropped quite sharply on lower-than-expected eurozone inflation data, bids at 1.3850 and 1.3825-35 were filled, mixture of bids and stops at 1.3800 is in focus, more buy orders are tipped at 1.3775-85 (stops below), fresh demand should emerge around 1.3750 (stops below), 1.3725 and further out at 1.3700. On the upside, offers are lowered to 1.3830, 1.3850 and in good size at 1.3870-80 (stops above), indicated sell orders (option related) remain at 1.3885-00 (with stops building up above barrier at 1.3900 and 1.3910), fresh offers are expected at 1.3925 and in good size further out at 1.3940-50. Read more...
Forex Trade Ideas
Trade Idea Wrap-up: USD/CHF - Sell at 0.8825 As the greenback reversed intra-day brief rise to 0.8851 and broke below the Ichimoku cloud, suggesting the rebound from 0.8770 has ended there and consolidation with downside bias is seen for test of this week's low of 0.8770 but break there is needed to retain bearishness and extend the fall from last week's high of 0.8862 towards this month's low of 0.8743 Read more... Trade Idea Wrap-up: GBP/USD - Buy at 1.6840 Cable's intra-day rally above 1.6900 adds credence to our view that recent upmove has resumed and this breach of previous chart resistance at 1.6879 suggests further headway to 1.6905-10 (50% projection of 1.6555-1.6842 measuring from 1.6763) and later towards 1.6940-50 (61.8% projection) would be seen but price should falter well below psychological resistance at 1.7000 due to near term overbought condition. Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights No Surprises in FOMC Statement - Nods to Improvement in Data as Expected US FOMC Holds Fed Funds Target, and Makes Another $10 Billion Cut to Monthly Asset Purchase Program North American Wrap-Up: FOMC Aftermath Weak US GDP Drove The US Dollar Lower Overnight, Euro Trying To Break Up Technical Highlights GBP/USD – Moves To Four Year High At 1.69 The Daily Forecaster: GBPUSD AUD/USD – Placing Pressure On Resistance At 0.93 EUR/USD – Runs Into Resistance At 1.3880 Again GBPUSD - Can GBP Break Above The 1.3857/77 Levels? GBP/USD At 4.5-Year Highs, But Bulls May Still Have Gas In the Tank

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Action Insight Daily Report 4-30-14

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 Higher as BoJ Stands Pat, Raised Inflation Forecast Yen is mildly higher today after BoJ left policies unchanged as widely expected. The target of monetary base expansion is maintained at JPY 60-70T. Also, BoJ revised up inflation forecast and now projects that CPI will rise 2.1% in the fiscal year 2016. BoJ seemed to be confident to hit the inflation target without adding stimulus. Also released from Japan, PMI manufacturing dropped sharply to 49.4 in April, industrial production rose 0.3% mom in March, labor cash earnings rose 0.7% yoy in March, housing starts dropped -2.9% yoy in March. Full Report Here...
Featured Technical Report
EUR/JPY Daily Outlook Daily Pivots: (S1) 141.40; (P) 141.94; (R1) 142.29; More... Intraday bias in EUR/JPY remains neutral as range trading continues. Price actions from 145.68 are viewed as forming a consolidation pattern with rise from 136.22 as the second leg. Break of 139.95 will revive that case that such second leg has completed. In such case, outlook will turn bearish as the third leg should have started for 136.22 support and below. Above 143.78 will extend the second leg but in that case, we'd expect strong resistance below 145.68 to limit upside and bring reversal. 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 Revised 22:45 NZD Building Permits M/M Mar 8.30% 2.00% -1.70% -1.60% 23:05 GBP GfK Consumer Sentiment Apr -3 -4 -5 23:15 JPY Markit/JMMA Manufacturing PMI Apr 49.4 53.9 23:50 JPY Industrial Production M/M Mar P 0.30% 0.50% -2.30% 1:00 NZD NBNZ Business Confidence Apr 64.8 67.3 1:30 JPY Labor Cash Earnings Y/Y Mar 0.70% 0.10% 0.00% -0.10% 4:00 JPY BoJ Rate Decision 5:00 JPY Housing Starts Y/Y Mar -2.90% -2.90% 1.00% 6:00 CHF UBS Consumption Indicator Mar 1.57 6:00 EUR German Retail Sales M/M Mar -0.70% 1.30% 7:00 CHF KOF Leading Indicator Apr 106 106.13 7:55 EUR German Unemployment Change Apr -10K -12K 7:55 EUR German Unemployment Rate Apr 6.70% 6.70% 9:00 EUR Eurozone CPI Estimate Y/Y Apr 0.80% 0.50% 12:15 USD ADP Employment Change Apr 208K 191K 12:30 USD GDP (Annualized) Q1 A 1.10% 2.60% 12:30 USD GDP Price Index Q1 A 1.50% 1.60% 12:30 USD Employment Cost Index Q1 0.50% 0.50% 12:30 CAD GDP M/M Feb 0.20% 0.50% 12:30 CAD Industrial Product Price M/M Mar 0.50% 1.00% 12:30 CAD Raw Materials Price Index M/M Mar 1.00% 5.70% 13:45 USD Chicago PMI Apr 56.5 55.9 14:30 USD Crude Oil Inventories 3.5M 18:00 USD FOMC Rate Decision 0.25% 0.25%
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency dropped quite sharply on lower-than-expected eurozone inflation data, bids at 1.3850 and 1.3825-35 were filled, mixture of bids and stops at 1.3800 is in focus, more buy orders are tipped at 1.3775-85 (stops below), fresh demand should emerge around 1.3750 (stops below), 1.3725 and further out at 1.3700. On the upside, offers are lowered to 1.3830, 1.3850 and in good size at 1.3870-80 (stops above), indicated sell orders (option related) remain at 1.3885-00 (with stops building up above barrier at 1.3900 and 1.3910), fresh offers are expected at 1.3925 and in good size further out at 1.3940-50. Read more...
Forex Trade Ideas
Trade Idea Wrap-up: EUR/USD - Hold short entered at 1.3830 Despite intra-day brief rise to 1.3879, as the single currency met renewed selling interest just below yesterday's high of 1.3880 and has tumbled on lower-than-expected eurozone data, suggesting the rebound from 1.3785 has ended there and consolidation with downside bias is seen for weakness towards this support, however, break there is needed to retain bearishness and extend the fall from 1.3906 to 1.3760-62 (61.8% Fibonacci retracement of 1.3673-1.3906) Read more... Trade Idea Wrap-up: USD/JPY - Buy at 102.30 Although dollar's intra-day breach of previous resistance at 102.73 suggests the rise from 101.33 low has resumed, as price has retreated from 102.78, minor consolidation would be seen and pullback towards the Ichimoku cloud top (now at 102.31) cannot be ruled out before prospect of another rise, above said resistance at 102.78 would extend the rise from 101.33 for a stronger correction of early fall from 104.13 to 103.05-10 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights Asian Market Update: BOJ Unanimous In Keeping Policy Unchanged GBP/USD: BoE Governor, Mark Carney Sees Sustained Economic Growth In The UK Economy USD/JPY: BoJ Refrains From Altering Its Monetary Policy In April The BoJ Is Expected To Maintain The Status Quo... For Now Technical Highlights GBP/USD - Continues In Range Below Resistance At 1.6850 Euro Drops On Inflation Data EUR/USD - Support At 1.38 To The Rescue Again EURCAD: Half Way To 1.50 Target

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Action Insight Mid-Day Report 4-29-14

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
Mid-Day Report: Yen Tumbles as Risk Aversion Fades European indices are generally higher today and US futures are pointing to higher open. Markets digested the "mild" sanctions on Russia rather well. The Russian Ruble rises for a second day on view that the new round of targeted sanctions have limited impact on the Russian economy. Also, there were news reported that Russian troops were moving away from the border of Ukraine. In the currency markets, yen was sold off as risk aversion faded. Commodity currencies are generally higher with Canadian dollar leading the way. Euro was over shadowed by Sterling after weak economic data even though UK GDP missed forecast. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 102.14; (P) 102.38; (R1) 102.72; More... The break of 102.72 suggests that rebound form 101.32 has resumed. Intraday bias is back on the upside for further rally. But we' expect strong resistance below 104.12 to limit upside and bring reversal. Below 101.95will turn bias back to the downside for 101.32 first. Break will indicate that whole decline from 105.41 is finally resuming. In such case, USD/JPY should fall through 100.75 support to 100% projection of 105.41 to 100.75 from 104.12 at 99.46. 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 Revised 22:45 NZD Trade Balance (NZD) Mar 920M 900M 818M 793M 06:00 EUR German GfK Consumer Sentiment May 8.5 8.5 8.5 08:00 EUR Eurozone M3 Y/Y Mar 1.10% 1.40% 1.30% 08:30 GBP GDP Q/Q Q1 A 0.80% 0.90% 0.70% 08:30 GBP Index of Services 3M/3M Feb 0.90% 0.90% 0.90% 09:00 EUR Eurozone Consumer Confidence Apr F -8.6 -8.7 -8.7 09:00 EUR Eurozone Economic Confidence Apr 102 102.9 102.4 09:00 EUR Eurozone Industrial Confidence Apr -3.6 -3.1 -3.3 09:00 EUR Eurozone Services Confidence Apr 3.5 4.8 4.2 12:00 EUR German CPI M/M Apr P -0.20% -0.10% 0.30% 12:00 EUR German CPI Y/Y Apr P 1.30% 1.40% 1.00% 13:00 USD S&P/Case-Shiller Composite-20 Y/Y Feb 12.90% 12.90% 13.24% 14:00 USD Consumer Confidence Apr 82.3 83 82.3 83.9
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency dropped quite sharply on lower-than-expected eurozone inflation data, bids at 1.3850 and 1.3825-35 were filled, mixture of bids and stops at 1.3800 is in focus, more buy orders are tipped at 1.3775-85 (stops below), fresh demand should emerge around 1.3750 (stops below), 1.3725 and further out at 1.3700. On the upside, offers are lowered to 1.3830, 1.3850 and in good size at 1.3870-80 (stops above), indicated sell orders (option related) remain at 1.3885-00 (with stops building up above barrier at 1.3900 and 1.3910), fresh offers are expected at 1.3925 and in good size further out at 1.3940-50. Read more...
Forex Trade Ideas
Trade Idea Update: EUR/USD - Stopped profit and turn short at 1.3830 Despite intra-day brief rise to 1.3879, as the single currency met renewed selling interest just below yesterday's high of 1.3880 and has tumbled on lower-than-expected eurozone data, suggesting the rebound from 1.3785 has ended there and consolidation with downside bias is seen for weakness towards this support, however, break there is needed to retain bearishness and extend the fall from 1.3906 to 1.3760-62 (61.8% Fibonacci retracement of 1.3673-1.3906) and later towards 1.3730 Read more... Trade Idea Update: USD/JPY - Buy at 102.50 Dollar's breach of previous resistance at 102.73 suggests the rise from 101.33 low has resumed and near term upside bias is seen for a stronger correction of early fall from 104.13, hence gain to 103.05-10 (61.8%  Fibonacci retracement of 104.13-101.33) and possibly towards previous resistance at 103.30 would be seen later, however, overbought condition should limit upside to 103.50-60. Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights German Inflation Lower than Expected, We Revise Euro Inflation Forecast Down Gold Prices Dip As Markets Eye Federal Reserve Announcement EUR Positions Wait For Guidance EUR/USD - Euro Firm As German Consumer Climate Impresses UK Economy: Simmering Along Nicely Technical Highlights Technical Outlook - EURUSD, GBPUSD Technical Outlook - USDCAD and USDCHF AUD/NZD: Short-Term Bullish Patterns Suggests Return to 1.0900 Could GBP/JPY Rally to Multi-Year Highs?

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