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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: Forex Markets Steady ahead of a Busy WeekThe forex markets opened the week rather steadily with some weakness seen in Aussie and Kiwi. Dollar pared back some of last week's gain but loss is limited so far. Rally in China shares lead Asian indices generally higher with Japan Nikkei up 71.53 pts or 0.46% and Hong Kong HSI up 267 pts or 1.1%. Gold struggled to take out 1310 handle and is struggling in tight range. Crude oil is also having some difficulty staying above 102 and is engaging in sideway trading. The economic calendar is rather light today with pending home sales from US featured only. Nonetheless, the week ahead is rather busy and full of market moving events. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.0762; (P) 1.0791; (R1) 1.0845; More... Intraday bias in USD/CAD remains on the upside for the moment. Current development The development suggests that correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Further rally should now be seen to 1.0960 resistance next. In case of retreat, near term outlook will now stay bullish as long as 1.0708 support holds. |
| Economic Indicators Update |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency extended recent fall to multi-month low below 1.3430, mixture of bids and stops at 1.3425 is now in focus, however, buy orders are still noted at 1.3400-10, more buying interest is expected at 1.3370-80 and 1.3350. On the upside, offers remain at 1.3475-85, 1.3500 and 1.3520-30, combination of offers and stops is located at 1.3545-50, fresh selling interest is tipped at 1.3555-80 area (stops above) and 1.3600-10. | |||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||
Trade Idea: EUR/USD - Buy at 1.3400As the single currency has remained under pressure after dropping quite sharply on Friday, retaining our view that near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3395-00, however, loss of downward momentum should prevent sharp fall below there and bring rebound later, above the Ichimoku cloud (now at 1.3462-65) would suggest low is possibly formed, bring rebound to 1.3485 Trade Idea: USD/JPY - Hold short entered at 101.70As the greenback has maintained a firm undertone after breaking previous resistance at 101.86, suggesting caution on our near term bearishness and 102.00 needs to hold to retain prospect of another retreat later, below 101.55-60 would bring test of 101.32 support, break there would signal the rebound from 101.09 has ended and bring subsequent weakness towards support at 101.07-09, break there would extend recent fall towards indicated strong support at 100.76-82. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||
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Fundamental Highlights
Technical Highlights
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