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Action Insight Market Overview	Markets Snapshot
Daily Report: Risk Appetite Hurt by Middle Tensions, Forex Mixed Risk appetite was hurt by escalating tensions in the Middle East. DOW closed sharply lower by losing -119.13 pts at 16818.13 while S&P 500 dropped -12.63 points to close at 1949.98. Asian equities followed with Nikkei falling -70 pts and is trading around 15000 handle at the time of writing. The forex markets are relatively steady though. European majors continued to stay in established range against dollar. EUR/USD is stuck between 1.3502 and 1.3676, USD/CHF stays in 0.8907 and 0.9036, GBP/USD staying in range of 1.6918 and 7062. USD/JPY is also hovering in tight range around 102. More notable move was seen in AUD/USD, which took out 0.9374 minor support which signals near term weakness. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.9344; (P) 0.9387; (R1) 0.9409; More... The break of 0.9374 support argues that the rebound from 0.9211 could have completed at 0.9446 already, ahead of 0.9460 near term resistance. And, the consolidation pattern from 0.9460 is possibly still in progress and is starting another falling leg. Intraday bias is back on the downside for 0.9321 first. Break will confirm this case and target 0.9211 support and below. In that case, strong support should be seen at 38.2% retracement of 0.8659 to 0.9460 at 0.9154 and bring rally resumption eventually. Meanwhile, break of 0.9460 will resume whole rise from 0.8659. 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
23:50	JPY	Corporate Service Price Y/Y May	3.60%	3.20%	3.40%
6:00	EUR	German GfK Consumer Sentiment Jul		8.6	8.5
6:00	CHY	UBS Consumption Indicator May			1.72
10:00	GBP	CBI Reported Sales Jun		25	16
12:30	USD	Durable Goods Orders May		-0.10%	0.80%
12:30	USD	Durables Ex Transportation May		0.30%	0.10%
12:30	USD	GDP Q1 F		-1.70%	-1.00%
12:30	USD	GDP Price Index Q1 F		1.30%	1.30%
14:30	USD	Crude Oil Inventories			-0.6M

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency has retreated in NY morning after intra-day cross-inspired rebound to 1.3628, however, bids are still noted at 1.3575-85, 1.3560 (stops below) and 1.3535-40, fresh demand should emerge around 1.3500-20 area with stops placed below 1.3500. On the upside, offers remain at 1.3630-50 area and 1.3670 (stops above), sizeable selling interest is expected at 1.3690-00 with more stops tipped above figure.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.8100

As the single currency has rebounded again today, retaining our our view that further consolidation above last week's low of 0.7959 would be seen and minor correction to 0.8050-60 cannot be ruled out, however, reckon 0.8100 would limit upside and bring another decline. A break of said support at 0.7959 would extend recent decline in wave v of iii to 0.7940 and possibly 0.7920, however, this final leg of wave iii should be limited to 0.7900 and reckon 0.7870-75 would hold from here

Trade Idea: USD/CAD - Sell again at 1.0800

As the greenback has remained under pressure after recent anticipated resumption of decline, bearishness remains for the wave c of iv to extend further weakness to 1.0650-60 and possibly towards 1.0605-10 (61.8% Fibonacci retracement of 1.0190-1.1279), however, oversold condition should limit downside to 1.0550, risk from there is seen for a strong rebound to take place later.