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Action Insight Market Overview	Markets Snapshot
Daily Report: European Majors Stay Pressured, Dollar Mixed European majors are remains broadly pressured this week. Euro extend the post ECB decline against commodity currencies as there was talk of renewing carry trade with euro as the funding currency. This can also be reflected somewhat in the sharp fall in EUR/JPY this week. Meanwhile, Sterling was also dragged down by the common currency in spite of solid economic data released recently. The pound will face some tests from employment data to be released later today. Dollar is mixed and while EUR/USD dips this week, it's staying above 1.3502 low. Dollar index is also held below 81 handle despite this weeks recovery. In other markets, DOW and S&P 500 ended nearly flat overnight while Asian equities are mixed. Full Report Here...
Featured Technical Report
EUR/AUD Daily Outlook Daily Pivots: (S1) 1.4410; (P) 1.4480; (R1) 1.4520; More... EUR/AUD's fall extends further today and reaches as low as 1.4407 so far today. Intraday bias remains on the downside. Current corrective decline from 1.5831 should target medium term fibonacci level at 1.4216. We'd expect strong support below there to contain downside and to complete the fall and bring reversal. On the upside, above 1.4563 minor resistance will turn bias neutral and bring recovery. But break of 1.4872 resistance is needed to confirm reversal. Otherwise, outlook will stay bearish. 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
23:50	JPY	BSI Large Manufacturing Q/Q Q2	-13.9	14.1	12.5
23:50	JPY	Domestic CGPI M/M May	0.30%	0.10%	2.80%	2.90%
0:30	AUD	Westpac Consumer Sentiment Jun	0.20%		-6.80%
8:30	GBP	ILO Unemployment Rate 3M Apr		6.70%	6.80%
8:30	GBP	Jobless Claims Change May		-25.0K	-25.1K
8:30	GBP	Claimant Count Rate May		3.20%	3.30%
14:30	USD	Crude Oil Inventories			-3.4M
18:00	USD	Monthly Budget Statement May		-142.8B	106.9B
21:00	NZD	RBNZ Rate Decision		3.25%	3.00%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency met fresh selling from European players and bids at 1.3550-60 were filled, however, buy orders are still noted at 1.3525-30, mixture of bids and stops is located at 1.3500 with buyers expected around 1.3475 and 1.3450. On the upside, offers are lowered to 1.3580, 1.3610 and 1.3625-30, sell orders in good size are tipped at 1.3645-50, 1.3665-75 and 1.3680-1.3700 area with stops expected above barrier at figure.

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Forex Trade Ideas

Trade Idea: USD/CAD - Hold short entered at 1.0920

Despite last week's rise to 1.0960, the subsequent retreat has retained our bearishness and consolidation with mild downside bias is seen for weakness to 1.0870-75 (previous resistance), however, break there is needed to signal top is formed and bring another fall towards 1.0814 support. Looking ahead, only break there would indicate the c leg of wave iv is in progress and extend the decline from 1.1279 (wave iii top) for a stronger correction of early upmove to 1.0800, then towards 1.0730-40

Trade Idea: EUR/GBP - Hold long entered at 0.8090

The single currency slipped again today, dampening our near term bullishness and 0.8050-60 needs to hold to retain prospect of another rebound, above 0.8140 would suggest low is possibly formed, bring test of resistance at 0.8153 but break there is needed to signal wave v has ended at 0.8065 and bring stronger rebound towards 0.8184 resistance. 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