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: Euro Tumbles Further after GDP Miss Euro extends this week's decline after disappointing economic data. Eurozone GDP grew 0.2% qoq in Q1, below expectation of 0.4% qoq. French GDP was flat qoq versus expectation of 0.1% qoq. Italian GDP was even worse, which contracted -0.1% qoq versus expectation of 0.2% qoq rise. German GDP, on the other hand, beat expectation and grew 0.8% qoq versus consensus of 0.7% qoq. Also released from Eurozone CPI was finalized at 0.7% yoy in April while core CPI was also finalized at 1.0% yoy, both were unrevised from initial estimate. The GDP misses give further pressure to ECB to add stimulus to the comment. Markets are already pricing in June easing after ECB president Draghi hinted on that during last press conference. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3697; (P) 1.3713 (R1) 1.3730; More.... EUR/USD's decline extends today and reaches as low as 1.3647 so far. The break of 1.3673 support affirmed the case of trend reversal. That is supported by bearish divergence condition in 4 hours MACD and daily MACD, as well as break of medium term channel. Intraday bias remains on the downside and deeper decline should be seen back to 1.3476 key support level. On the upside, above 1.3730 minor resistance will turn bias neutral and bring consolidation before staging another decline. 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
22:30	NZD	Business NZ Manufacturing Index Apr	55.2		58.4	58
23:50	JPY	GDP Q/Q Q1 P	1.50%	1.00%	0.20%
23:50	JPY	GDP Deflator Y/Y Q1 P	0.00%	-0.10%	-0.30%
23:50	JPY	Tertiary Industry Index M/M Mar	2.40%	2.40%	-1.00%	-0.90%
05:00	JPY	Consumer Confidence Index Apr	37		37.5
05:30	EUR	French GDP Q/Q Q1 P	0.00%	0.10%	0.30%	0.20%
06:00	EUR	German GDP Q/Q Q1 P	0.80%	0.70%	0.40%
07:15	CHF	Producer & Import Prices M/M Apr	-0.30%	0.00%	0.00%
07:15	CHF	Producer & Import Prices Y/Y Apr	-1.20%	-0.80%	-0.70%
08:00	EUR	ECB Monthly Bulletin
08:00	EUR	Italian GDP Q/Q Q1 P	-0.10%	0.20%	0.10%
09:00	EUR	Eurozone CPI M/M Apr	0.20%	0.20%	0.90%
09:00	EUR	Eurozone CPI Y/Y Apr F	0.70%	0.70%	0.70%
09:00	EUR	Eurozone CPI - Core Y/Y Apr F	1.00%	1.00%	1.00%
09:00	EUR	Eurozone GDP Q/Q Q1 A	0.20%	0.40%	0.20%
12:30	USD	CPI M/M Apr	0.30%	0.30%	0.20%
12:30	USD	CPI Y/Y Apr	2.00%	2.00%	1.50%
12:30	USD	CPI Core M/M Apr	0.20%	0.10%	0.20%
12:30	USD	CPI Core Y/Y Apr	1.80%	1.70%	1.70%
12:30	USD	Initial Jobless Claims (MAY 10)	297K	320K	319K	321K
12:30	USD	Empire State Manufacturing May	19	6	1.29
12:30	CAD	Manufacturing Shipments M/M Mar	0.40%	0.10%	1.40%
13:00	USD	Net Long-term TIC Flows Mar	4.0B	$30.0B	$85.7B
13:15	USD	Industrial Production Apr	-0.60%	0.00%	0.70%
13:15	USD	Capacity Utilization Apr	78.60%	79.20%	79.20%
14:00	USD	NAHB Housing Market Index May		49	47
14:00	USD	Philly Fed Survey May		14	16.6
14:30	USD	Natural Gas Storage			74B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency remained under pressure after intra-day fall from 1.3723, bids at 1.3650-60 were filled but more buy orders are still seen at 1.3640-45, 1.3625 and further out at 1.3600-10 with more stops building up below barrier at figure. On the upside, offers are lowered to 1.3700, 1.3725-40 area and 1.3770, more sell orders are tipped at 1.3780-85 (stops above), selling interest is tipped further out at 1.3800-05 (stops above), 1.3825-35 and 1.3850, fresh offers are likely to emerge further out at 1.3875, 1.3900 and 1.3935.

Read more...

Forex Trade Ideas

Trade Idea Update: GBP/USD - Sell at 1.6820

The British pound has dropped again earlier today after brief recovery, adding credence to our view that the decline from 1.6996 top is still in progress and further weakness to 1.6725-28 (50% Fibonacci retracement of 1.6460-1.6996), then 1.6700 (1.236 times projection of 1.6996-1.6832 measuring from 1.6903) would be seen, however, near term oversold condition should limit downside and reckon 1.6660-65 (previous chart resistance and 61.8% Fibonacci retracement) would hold

Trade Idea Update: USD/CHF - Buy at 0.8890

As the greenback has rallied again today and broke above indicated previous chart resistance at 0.8953, adding credence to our view that another leg of major correction from recent low of 0.8699 low is underway for further subsequent gain to 0.8975-80, then towards psychological resistance at 0.9000, however, near term overbought condition should prevent sharp move beyond latter level and reckon 0.9040-50 would hold from here, risk from there is seen for a retreat later.