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Mid-Day Report: Sentiments Weaker as Russia Would Face Tougher Sanctions, Forex SteadyEuropean equities are broadly lower today as markets are awaiting tomorrow's meeting between EU foreign ministers, where discussions on additional sanctions on Russia would be held. Russia is already facing sanctions over annexation of Crimea. It's been suggested that the missile that shot down the Malaysia Airlines flight over east Ukraine was provided by Russia. UK,, France and Germany warned Russian president Putin to establish a safe environment to recover bodies and investigate the crash, or Russia will face harder sanctions. Nonetheless, it's also reported that there were divisions over the breadth and severity of the sanctions. US stock futures also point to a mildly lower open, where DOW could have a test on 17000 handle again. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.8966; (P) 0.8985; (R1) 0.9000; More.... Outlook in USD/CHF is unchanged. Overall, we're favoring the bullish case that pull back from 0.9036 has completed at 0.8855 already. As long as 0.8958 support holds, further rally is expected to 0.9036. Break there will resume whole rise from 0.8702 and target 0.9156 key resistance next. Though, below 0.8985 will mix up the near term outlook and turn focus back to 0.8897 support instead. |
| Economic Indicators Update |
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| Orders and Options Watch | ||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency traded narrowly as traders seemed reluctant to take big positions, offers are still noted at 1.3545-60 area and 1.3575-85 (stops above), more sell orders are located at 1.3600-10, 1.3625 and 1.3640-55 region, fresh selling interest is tipped further out at 1.3670-80 and 1.3700 (more stops above figure). On the downside, buy orders are reported at 1.3500-10 (stops below) and 1.3485, more buying interest is located at 1.3465, 1.3450 and 1.3425, mixture of bids and stops is tipped further out at 1.3400-10. | ||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||
Trade Idea Update: GBP/USD - Sell at 1.7140Although cable resumed recent upmove to as high as 1.7192 last week, the subsequent sharp retreat suggests a temporary top is possibly formed there and few days of consolidation below this level would be seen with downside bias, below last week's low at 1.7036 would add credence to this view, bring retracement of recent upmove to 1.7000-07 support, then towards 1.6970-75 but previous support at 1.6952 should hold from here. Trade Idea Update: EUR/USD - Sell at 1.3570Although the single currency has retreated after meeting resistance at 1.3549, Friday's rebound from 1.3491 suggests consolidation above this level would be seen and another corrective bounce cannot be ruled out, however, reckon upside would be limited to 1.3570 and bring another decline later. A break of said support at 1.3491 would extend the decline from 1.3993 top to previous support at 1.3477, then 1.3450 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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