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 Lower after Investor Confidence Data The forex markets are relatively quiet today with a few European countries on holiday. But the Euro suffered some selling after confidence data. The Sentix investor confidence index for Eurozone unexpected dropped to 8.5 in June, versus expectation of a rise from 12.8 to 13.3. That's the second consecutive month of decline and was the lowest figure since December 2013. Sentix noted that "investors obviously do not appreciate this aspect of the ECB's monetary policy at the moment." And, "the decline in expectations is remarkable because last Thursday the ECB agreed a comprehensive package of measures to fight the deflationary tendencies in the euro zone." Technically, the Euro could have bottomed in short term against dollar at 1.3502. We're not expecting the selloff to gather momentum. And there is prospect of another rebound after finishing the retreat. Released in Canada, housing starts rose to 198k in May versus expectation of 185k. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3616; (P) 1.3646 (R1) 1.3672; More.... EUR/USD's retreat today with 4 hours MACD crossed below signal line suggests temporary topping at 1.3676. Intraday bias is turned neutral first. Overall we're holding on to the view that a short term bottom is formed at 1.3502 on bullish divergence condition is seen in 4 hours MACD. Further rise is expected and above 1.3676 will target 55 days EMA (now at 1.3720) and above. Also, as 1.3476 support remains intact, there is no confirmation of reversal and retest of 1.3993 high could be seen. Meanwhile, break of 1.3476 will confirm resumption of whole fall from 1.3993 and would turn near term outlook 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
	CNY	Trade Balance May	$35.9B	$22.60B	$18.46B
23:50	JPY	GDP Q/Q Q1 F	1.60%	1.40%	1.50%
23:50	JPY	GDP Deflator Y/Y Q1 F	-0.10%	0.00%	0.00%
23:50	JPY	Current Account (JPY) Apr	0.13T	0.23T	-0.78T
05:00	JPY	Consumer Confidence May	39.3	37.6	37
06:00	JPY	Eco Watchers Survey: Current May	45.1	45	41.6
08:30	EUR	Eurozone Sentix Investor Confidence Jun	8.5	13.3	12.8
12:15	CAD	Housing Starts May	198K	185.0K	194.8K	197K

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency reversed intra-day initial rise and dropped quite sharply from 1.3669 throughout the European session in part due to disappointing Eurozone data, bids at 1.3620 and 1.3600 were filled, however, fresh demand should emerge around 1.3575, 1.3550-60 and 1.3525, 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 1.3625-30 and in good size at 1.3665-75, more sell orders are tipped at 1.3680-1.3700 area with stops expected above barrier at figure, selling interest is seen at 1.3725-35 and 1.3740-50 (more stops above).

Read more...

Forex Trade Ideas

Trade Idea Update: GBP/USD - Buy at 1.6765

As the British pound has retreated after rising to 1.6846 last Friday, minor consolidation below this level would be seen and another retreat to 1.6781 (Friday's low) cannot be ruled out, however, reckon the Ichimoku cloud bottom (now at 1.6762) would limit downside and bring another rise later, above said resistance would add credence to our view that a temporary low has been formed at 1.6693 late last month and bring retracement of recent decline to 1.6860

Trade Idea Update: EUR/USD - Buy at 1.3570

Although euro's strong rebound after last week's brief fall to 1.3503 suggests a temporary low has been formed there, as the single currency has retreated from 1.3677, suggesting consolidation would be seen and pullback to 1.3590 cannot be ruled out, however, reckon 1.3565-70 (61.8% Fibonacci retracement of 1.3503-1.3677) would limit downside and bring another rise later, above said resistance at 1.3677 would extend the rebound from 1.3503 for retracement of recent selloff to 1.3700-10