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Daily Report: Euro Stays Weak as Imposes New Sanctions on RussiaEuro stays generally weak as EU agreed to impose new sanctions on Russian officials for the suspected role in downing a Malaysia Airline jet over eastern Ukraine last week. EU ministers agreed to draft a new set of names that provide "financial or material" support to Russia's decision makers. And, they warned of further actions if there is no "full and immediate cooperation" from Russia and pro-Russia separatists on handing the crash aftermath. Nonetheless, the ministers still refrained from so called level three sanctions and would only prepare a list of possible options, including arms embargo, limits on dual-technology sales and measures targeting energy and finance sectors. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.9362; (P) 0.9391; (R1) 0.9423; More... AUD/USD recovers strongly today but stays in range below 0.9504. Intraday bias remains neutral for the moment. The consolidation is still expected to continue with another fall. Below 0.9328 will turn bias to the downside for 0.9211 support. In that case downside should be contained by 38.2% retracement of 0.8659 to 0.9504 at 0.9181 and bring rebound. Meanwhile, above 0.9504 will extend the rise from 0.8659 to medium term fibonacci level of 0.9583. |
| Economic Indicators Update |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency slipped to fresh 2014 low in NY morning after the release of US CPI before recovering, bids at 1.3500 and 1.3485 together with stops below both levels and 1.3470 were tripped, however, buy orders are still seen at 1.3450-60 and 1.3425, mixture of bids and stops is expected at 1.3400-10. On the upside, offers are lowered to 1.3515-25 and 1.3545-60 area, more sell orders are located at 1.3570-80 (stops above) and 1.3600-10, selling interest should emerge around 1.3640-55 area. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea: EUR/GBP - Buy at 0.7815As the single currency has remained under pressure after meeting renewed selling interest at 0.7933 last week, suggesting near term downside risk remains for recent decline in wave v of iii to extend further weakness to 0.7855-60, however, loss of downward momentum should prevent sharp fall below 0.7815-20, risk from there is seen for a rebound to take place place later, above said resistance at 0.7933 would suggest low is possibly formed Trade Idea: USD/CAD - Stand asideDespite last week's rebound to 1.0794, subsequent retreat suggests further consolidation would be seen and a firm breach above said resistance is needed to signal low has been formed at 1.0621 earlier and bring at least a retracement of recent decline to 1.0814 (previous support), then 1.0850 but reckon resistance at 1.0896 would hold from here, bring another decline later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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