Action Insight Weekly Report 8-30-14

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 Weekly Report	Markets Snapshot
Euro Broadly Lower as Focus Turns to ECB Euro turned into consolidation after initial dip against the greenback last week. But finally, the common currency seemed to have given up on Friday and extended recent decline, closing near the weekly low at 1.3130 against dollar. Indeed, weakness of the euro was rather broad based. In particular, EUR/AUD and EUR/CAD were the two weakest pairs as Aussie and Canadian were both lifted by strength in the stock markets. That was in sharp contrast to Sterling, which remained relatively resilient in crosses even though there was practically no momentum for GBP/USD to stage a meaningful recovery during the week. Dollar and yen were mixed. Full Report Here...
Featured Technical Report
GBP/USD Weekly Outlook GBP/USD edged lower to 1.6534 and formed a temporary bottom there and turned sideway. Initial bias is neutral this week for some sideway trading. But upside of recovery should be limited by 1.6737 resistance and bring fall resumption. Below 1.6534 will extend the fall from 1.7190 to 1.6251 cluster support (38.2% retracement of 1.4813 to 1.7190 at 1.6282). 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

Suggested Readings
The Week in Review and Outlook Weekly Economic and Financial Commentary The Weekly Bottom Line ECB: From Jackson Hole to Frankfurt, a World of Difference Week in FX Americas - BoC To Remain With Neutral Stance Week in FX Europe - ECB Not Influenced by Flash CPI Week in FX Asia - Yields and Geopolitical Tensions Hit Asian Markets Weekly Focus: Very Dovish ECB to Keep Hopes of More Easing Alive

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Action Insight Mid-Day Report 8-29-14

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: FX Markets Stay in Consolidation Mode The forex markets continue to stay in consolidative mode in early US session, without any stimulus for fresh moves. Yen reversed some of the risk aversion triggered gains ad is back under pressure against other major currencies. Meanwhile, dollar continues to be mixed in tight range. Released from US, personal income rose 0.2% in July while spending dropped -0.1%. Headline PCE was unchanged at 1.6% yoy while core PCE was also unchanged at 1.5% yoy. Released from Canada, GDP rose 0.3% mom in June, inline with consensus. IPPI dropped -0.3% mom in July while RMPI dropped -1.4% mom. Full Report Here...
Featured Technical Report
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9130; (P) 0.9145; (R1) 0.9165; More.... USD/CHF's consolidation from 0.9184 temporary top is still in progress and intraday bias remains neutral. Another fall could be seen but we'd expect downside of pull back to be contained above 0.9022 support and bring resumption. Break of 0.9184 should target 161.8% projection of 0.8702 to 0.9036 from 0.8855 at 0.9395 next. 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 22:45 NZD Building Permits M/M Jul 0.10% 3.50% 23:05 GBP GfK Consumer Sentiments Aug 1 -1 -2 23:30 JPY Unemployment Rate Jul 3.80% 3.70% 3.70% 23:30 JPY Household Spending Y/Y Jul -5.90% -2.70% -3.00% 23:30 JPY National CPI Core Y/Y Jul 3.30% 3.30% 3.30% 23:30 JPY Tokyo CPI Core Y/Y Aug 2.70% 2.70% 2.80% 23:50 JPY Retail Trade Y/Y Jul 0.50% -0.10% -0.60% 23:50 JPY Industrial Production M/M (JUL P) 0.20% 1.40% -3.30% -3.40% 01:00 NZD NBNZ Business Confidence Aug 24.4 39.7 05:00 JPY Housing Starts Y/Y Jul -14.10% -10.50% -9.50% 07:00 CHF KOF Leading Indicator Aug 99.5 97.9 98.1 97.9 09:00 EUR Eurozone Unemployment Rate Jul 11.50% 11.50% 11.50% 09:00 EUR Eurozone CPI Estimate Y/Y Aug 0.30% 0.30% 0.40% 09:00 EUR Eurozone CPI - Core Y/Y Aug A 0.90% 0.80% 0.80% 12:30 CAD GDP M/M Jun 0.30% 0.30% 0.40% 0.50% 12:30 CAD Industrial Product Price M/M Jul -0.30% 0.20% -0.10% 0.10% 12:30 CAD Raw Materials Price Index M/M Jul -1.40% 0.70% 1.10% 12:30 USD Personal Income Jul 0.20% 0.30% 0.40% 0.50% 12:30 USD Personal Spending Jul -0.10% 0.20% 0.40% 12:30 USD PCE Deflator M/M Jul 0.10% 0.10% 0.20% 12:30 USD PCE Deflator Y/Y Jul 1.60% 1.60% 1.60% 12:30 USD PCE Core M/M Jul 0.10% 0.10% 0.10% 12:30 USD PCE Core Y/Y Jul 1.50% 1.50% 1.50% 13:45 USD Chicago PMI Aug 56.3 52.6 13:55 USD U. of Michigan Confidence Aug F 80.4 79.2
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency traded narrowly today, defensive buy orders are still noted above barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers remain at 1.3200 and from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there, selling interest is expected at 1.3350 and 1.3370. Read more...
Forex Trade Ideas
Trade Idea Update: GBP/USD - Hold long entered at 1.6600 As cable has retreated after faltering below yesterday's high of 1.6614, suggesting further consolidation would be seen but as long as 1.6567-70 holds, mild upside bias remains for recovery to 1.6620, above there would suggest a temporary low has possibly been formed at 1.6537 earlier this week, bring retracement of recent decline to 1.6650-55 and later towards resistance at 1.6679 Read more... Trade Idea Update: USD/JPY - Buy at 103.20 Dollar's consolidation after this week's initial rise to 104.28 is expected to continue and although near term downside risk remains for the retreat from said this week's high to bring retracement of recent rise to support at 103.50, reckon renewed buying interest would emerge around 103.20-25, price should stay well above previous resistance at 103.09 and bring another rise later, above said resistance would extend one more rise to 104.40-45 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights US Personal Spending Unexpectedly Dipped 0.1% in July Canadian Real GDP Growth Exceeded Expectations in the Second Quarter Euro: Lower Headline Inflation, But Higher Core Inflation Japan: July Data Suggest the Economy is Only Recovering Slowly after Tax Hike More Downside Expected For EURUSD Technical Highlights GBPUSD - Vulnerable, Loses Upside Steam Daily Technical Analysis Foreign Exchange Market Commentary The Daily Wave Analysis

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Action Insight Daily Report 8-29-14

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: Ukraine Tensions Hit Risk Markets, Dollar Mixed in Tight Range Risk markets were mildly hit by deterioration in Ukraine's situation. S&P 500 closed below 2000 handle by dropping -3.38 pts to 1996.74 while DJIA closed -42.44 pts down at 17079.57. Asian equities are also generally lower with Nikkei down -0.3% at the moment while HK HSI is down -0.25% at the time of writing. The currency markets are rather steady though. Dollar continues to stay in tight range against European majors and yen and maintain bullish outlook. Meanwhile, the greenback is staying mildly bearish against commodity currencies. Full Report Here...
Featured Technical Report
EUR/CHF Daily Outlook Daily Pivots: (S1) 1.2050; (P) 1.2060; (R1) 1.2073; More... EUR/CHF reaches as low as 1.2048 so far as recent decline continues. Deeper fall could still be seen. But again, we'd continue to expect strong support above 1.20 to contain downside and bring strong rebound. Above 1.2115 will confirm short term bottoming and turn bias back to the upside for 1.2177 resistance. 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 22:45 NZD Building Permits M/M Jul 0.10% 3.50% 23:05 GBP GfK Consumer Sentiments Aug 1 -1 -2 23:30 JPY Unemployment Rate Jul 3.80% 3.70% 3.70% 23:30 JPY Household Spending Y/Y Jul -5.90% -2.70% -3.00% 23:30 JPY National CPI Core Y/Y Jul 3.30% 3.30% 3.30% 23:30 JPY Tokyo CPI Core Y/Y Aug 2.70% 2.70% 2.80% 23:50 JPY Retail Trade Y/Y Jul 0.50% -0.10% -0.60% 23:50 JPY Industrial Production M/M (JUL P) 0.20% 1.40% -3.30% -3.40% 1:00 NZD NBNZ Business Confidence Aug 24.4 39.7 5:00 JPY Housing Starts Y/Y Jul -14.1% -10.50% -9.50% 7:00 CHF KOF Leading Indicator Aug 97.9 98.1 9:00 EUR Eurozone Unemployment Rate Jul 11.50% 11.50% 9:00 EUR Eurozone CPI Estimate Y/Y Aug 0.30% 0.40% 9:00 EUR Eurozone CPI - Core Y/Y Aug A 0.80% 0.80% 12:30 CAD GDP M/M Jun 0.30% 0.40% 12:30 CAD Industrial Product Price M/M Jul 0.20% -0.10% 12:30 CAD Raw Materials Price Index M/M Jul 0.70% 1.10% 12:30 USD Personal Income Jul 0.30% 0.40% 12:30 USD Personal Spending Jul 0.20% 0.40% 12:30 USD PCE Deflator M/M Jul 0.20% 12:30 USD PCE Deflator Y/Y Jul 1.60% 12:30 USD PCE Core M/M Jul 0.10% 12:30 USD PCE Core Y/Y Jul 1.50% 13:45 USD Chicago PMI Aug 56.3 52.6 13:55 USD U. of Michigan Confidence Aug F 80.4 79.2
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency slipped as the greenback recovered across the board on news that Russian troops entering in Ukraine, the release of better-than-expected US GDP data also helped supporting dollar, bids at 1.3185 were filled but defensive buy orders are still noted above barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are lined up from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there, selling interest is expected at 1.3350 and 1.3370. Read more...
Forex Trade Ideas
Trade Idea: EUR/GBP - Buy at 0.7925 As the single currency has remained under pressure, suggesting near term downside risk remains for the fall from 0.8036 to extend marginal weakness, however, reckon previous support at 0.7916-22 would limit downside and bring recovery later, above 0.8000 would bring a stronger rebound to Friday's high of 0.8016, break there would bring retest of 0.8036 resistance Read more... Trade Idea Wrap-up: USD/JPY - Buy at 103.20 Although near term downside risk remains for the retreat from this week's high of 104.28 to bring retracement of recent rise to support at 103.50, reckon renewed buying interest would emerge around 103.20-25, price should stay well above previous resistance at 103.09 and bring another rise later, above said resistance would extend one more rise to 104.40-45 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights EUR/USD: Euro Extends Its Losses, Ahead Of The Eurozone's CPI Data Asian Market Update: Japanese, Asian Stocks Weaker On Economic Data, Geopolitical Concerns August Month-End Model Points To Modest EURUSD Strength Free Money And QE Dampening Volatility Even As Russia Enters Ukraine Technical Highlights The Daily Wave Analysis AUD/USD - Moves To Three Week High Around 0.9370 Australia 200 – Taking A Breather Around 5620 Daily Forex Update: NZD/USD USDJPY - Sees Further Corrective Weakness

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