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: Investors Optimistic on US, S&P 500 Hit Record High, Dollar Firm Investors were optimistic on the US economy as they pushed S&P 500 to new record high of 1911.91 overnight. Dollar also strengthened mildly with the dollar index hitting as high as 80.47. Nonetheless, there was no follow through buying in the greenback as the index quickly retreated back to around 80.33 level at the time of writing. In the currency markets, EUR/USD is also holding above 1.3612 temporary low for the moment. Other dollar pairs are also held in range even though the greenback was mildly firmer. Indeed, the greenback continues to lose momentum against the Japanese yen today and is possibly reversing. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.9236; (P) 0.9256; (R1) 0.9280; More... AUD/USD is staying in tight range below 4 hours 55 EMA and intraday bias remains neutral. At this point, deeper fall could still be seen as consolidation from 0.9460 continues. But downside should be contained by 38.2% retracement of 0.8659 to 0.9460 at 0.9154 and bring rally resumption. On the upside, above 0.9408 will argue that rise from 0.8659 is finally resuming for 0.9460 and above. 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
0:30	AUD	Westpac Leading Index M/M Apr	-0.50%		0.00%
5:45	CHF	GDP Q/Q Q1		0.60%	0.20%
6:00	CHF	UBS Consumption Indicator Apr			1.84
7:55	EUR	German Unemployment Change May		-14K	-25K
7:55	EUR	German Unemployment Rate May		6.70%	6.70%
8:00	EUR	Eurozone M3 Y/Y Apr		1.20%	1.10%
9:00	EUR	Eurozone Economic Confidence May		102.2	102
9:00	EUR	Eurozone Industrial Confidence May		-4	-3.6
9:00	EUR	Eurozone Consumer Confidence May F		-7.1	-8.6
9:00	EUR	Eurozone Services Confidence May		3.5	3.5
9:00	EUR	Eurozone Business Climate Indicator May		0.35	0.27
10:00	GBP	CBI Reported Sales May		36	30

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency slipped on dollar's broad-based strength, bids at 1.3640-45 were filled but buy orders are still seen at 1.3625 and 1.3600-10 (stops below figure), more buying interest is located at 1.3585 and further out at 1.3550-55. On the upside, offers are lowered to 1.3650 and from 1.3670 up to 1.3700, more sell orders are expected at 1.3715 and 1.3730 with stops placed above 1.3735, selling interest is seen at 1.3745-55, 1.3770 and 1.3780-85 (stops above).

Read more...

Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8050

Although near term sideways trading is likely to continue, recent selloff suggests near term downside risk remains for further weakness to 0.8050-55 but loss of near term downward momentum should prevent sharp fall below there and reckon this minor wave v would be limited to 0.8015-20 and bring rebound later. We are keeping our view that recent decline is unfolding as (a)-(b)-(c)-(x)-(a)-(b)-(c) (with wave (x) ended at 0.8400), the 2nd wave (a) is still in progress

Trade Idea Wrap-up: GBP/USD - Sell at 1.6840

Despite intra-day brief bounce to 1.6882, current sharp retreat in part due to the release of soft UK data and intra-day breach of 1.6802-04 (previous support and 61.8% Fibonacci retracement of 1.6732-1.6921) suggest rebound from 1.6732 has possibly ended at 1.6921 last week and consolidation with downside bias is seen for further weakness to 1.6780 and then 1.6755-60, however, break of said support at 1.6732 is needed to signal early decline from 1.6996 top has resumed