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 Extends Pull Back as DOW Hit Record High Yen remains the weakest currency this week and extends the pull back on strong risk appetite. Investors shrugged off the situation in Ukraine and pushed DOW to new record close of 16695.47 overnight, up 112.13 pts or 0.68%. Asian equities follow with Nikkei up 295 pts, or 2.07% at the time of writing. Meanwhile, dollar index is facing some resistance below 80 level as it's pressing the 55 days EMA and lost some upside momentum. The development slowed down the decline in European majors against the greenback. Commodity currencies are also soft, in particular the Aussie after weak housing data. Full Report Here...
Featured Technical Report
GBP/JPY Daily Outlook Daily Pivots: (S1) 171.65; (P) 172.07; (R1) 172.67; More.... The recovery from 171.21 extends higher and break of 172.29 mixes up the near term outlook. Intraday bias is turned neutral first. Our view remains unchanged though. Break of 173.46 will extend the rise from 163.87 but will face strong resistance from 174.84 to bring reversal. The consolidation pattern from 174.84 is expected to have another falling leg before completion. On the downside, below 171.21 will turn bias back to the downside for 169.50. Break will indicates that the third leg has stared and should target 167.77 support and below. 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
23:01	GBP	BRC Retail Sales Monitor Y/Y Apr	4.20%	1.60%	-1.70%
23:50	JPY	Japan Money Stock M2+CD Y/Y Apr	3.40%	3.40%	3.50%	3.60%
1:30	AUD	Home Loans Mar	-0.90%	1.00%	2.30%
1:30	AUD	House Price Index Q/Q Q1	-1.20%	3.00%	3.40%	3.50%
5:30	CNY	Industrial Production YTD Y/Y Apr	8.70%	8.70%	8.70%
5:30	CNY	Retail Sales Y/Y Apr	11.9%	12.10%	12.20%
9:00	EUR	German ZEW (Economic Sentiment) May		40	43.2
9:00	EUR	German ZEW (Current Situation) May		60.5	59.5
9:00	EUR	Eurozone ZEW (Economic Sentiment) May		63.5	61.2
12:30	USD	Advance Retail Sales Apr		0.40%	1.10%
12:30	USD	Retail Sales Less Autos Apr		0.60%	0.70%
12:30	USD	Import Price Index M/M Apr		0.30%	0.60%
14:00	USD	Business Inventories Mar		0.40%	0.40%

Orders and Options Watch

US Session: Orders and Options Watch

JPY: The greenback has risen again after holding above intra-day low of 101.80, offer at 102.00 were filled but sell orders are still noted at 102.10 and 102.30-50 region, more selling interest is tipped at 102.75-85 and 102.90-00, mixture of offers and stops is located at 103.10. On the downside, bids are raised to 101.80-85, 101.65 and 101.50, decent demand remains at 101.25-35, more buy orders are located at 101.00, 100.75 and 100.50.

Read more...

Forex Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.8190

The single currency has continued to head south after breaking previous chart support at 0.8158 (Feb 2014), suggesting recent decline is still in progress and recent selloff is now unfolding as (a)-(b)-(c)-(x)-(a)-(b)-(c) with wave (x) ended at 0.8400, hence the 2nd wave (a) is in progress for further weakness to 0.8120-30 and possibly towards 0.8100, however, oversold condition should limit downside to 0.8080 and reckon 0.8050 would hold

Trade Idea: USD/CAD - Sell at 1.0955

As the greenback rebounded after falling to 1.0814 late last week on weaker-than-expected Canadian job data, suggesting a minor low is possibly formed and consolidation above this level would be seen with initial upside bias for correction to 1.0950-60, however, reckon upside would be limited to 1.0985-90 and resistance at 1.1006 should cap upside and bring another decline later. A break of said support would extend the decline from 1.1279 (wave iii top) for a stronger correction of early upmove to 1.0800, then towards 1.0730-40