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| 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: Risk Sentiments Stabilized, Canadian Employment WatchedMarkets stabilized from yesterday's sharp risk selloff. While Asian equities were generally lower following US stocks, European indices opened the day flat. Yen crosses also recovered after yesterday's spike low. Dollar is under mild pressure against European majors but overall it's stuck in familiar range. The financial markets could turn into consolidative mode before the week closes. Nonetheless, employment data from Canada will be closely watched and strong numbers today could trigger another round of rally in the Loonie. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.0636; (P) 1.0656; (R1) 1.0667; More... We're still treating the decline from 1.1278 as a correction. In case of another fall, we'd expect strong support from 1.0608 cluster support level, which is also close to the medium term trend line, to contain downside and bring reversal. Above 1.0693 resistance will turn bias to the upside for 1.0813 resistance. Decisive break there would confirm reversal. However, sustained break of 1.0608 will have larger bearish implication. |
| Economic Indicators Update |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency dropped today on risk aversion, bids at 1.3600-10 were filled but buy orders are still noted at 1.3575-80, mixture of bids and stops is located at 1.3560 (stops below), fresh demand should emerge around 1.3540-50 and further out at 1.3500-20 area with more stops placed below 1.3500. On the upside, offers are lowered to 1.3620 and in good size at 1.3650-55, more sell orders are reported at 1.3670-80 and 1.3700 (stops above), sellers are waiting further out at 1.3725 and 1.3750. | |||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.7860As euro has retreated after meeting resistance at 0.7969, suggesting the recovery from this week's low at 0.7915 has possibly ended there and break of this support would extend recent decline in wave v of iii to 0.7900, however, this final leg of wave iii should be limited to 0.7855-60 and risk from there is seen for a rebound to take place place later, above 0.7980-85 would bring correction towards 0.8000 but reckon resistance at 0.8034 would limit upside Trade Idea: USD/CAD - Sell at 1.0750 or buy at 1.0570The greenback has remained confined in narrow range and further consolidation is in store, a break of last week's low at 1.0621 is needed to signal recent decline has resumed and extend weakness to 1.0605-10 (61.8% Fibonacci retracement of 1.0190-1.1279) but loss of momentum would prevent sharp fall below 1.0570-75 (1.618 times projection of 1.1053-1.0814 measuring from 1.0960) and the pair is likely to find good support above 1.0550, bring a much-needed corrective rebound later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
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